The Stimulus/Omnibus, Will it Work?

Sure, this is a controversial subject. It is also one that gets talked about a LOT. But I want to know what people here think. Please, don't just vote, tap out a message and tell us WHY you think it will help/hurt. I'm tired of FNC, CNN, WSJ et. al. I want real people's opinions. Thanks.

There is too much in the bill that will take a year or more to kick in and the economy will be in much worse shape by that time. I see too much political agenda in the bill and not enough substance. I saw the same in bush's effort.

The fed is silently flooding the system with dollars which will result in runaway inflation. There is NO consumer confidence at this time and many employed people are working short weeks causing even more to register their concerns.

In a recent poll, 95 % say unemployment will get worse and 76 % say we are in a depression. With that lack of confidence, nothing will work!!

Slàinte,   

 Patch    

History is a great teacher and history shows us that no country has ever spent itself into prosperity.
When we talk of change and hope I believe that our political establishment has too narrow a focus. The current policies and strategies employed by our politicians were created in the 1930's and revised in the 1960's. The world is an entirely different place than it was back then. That method of thinking will not save us. It just postpones the inevitable.
The party, person or organization that creates the new paradigm that provides 21'st century solutions to 21'st century problems will become the next George Washington.
My two pence.

I agree with Warren Buffett''s statement that the US economy has fallen off a cliff. I wish I could share his optimism about the odds for a recovery. I do agree with his thoughts that any recovery will be accompanied by the kind of inflation that hasn't been seen since the late 70's.

What he said!

I think it will get us back to prosperity (since this is going on internationally, I'm going to put myself in this situation). Beyond that, it may eventually lead to the next, if the governments don't get to work HARSHLY restricting industries that deal only in monetary product and not in tangible product, (Banks, Insurance companies, and Energy giants). Those who have the monopoly will eventually crush the consumer every time.

Oh yes. We wouldn't want to leave Investment giants out of this either. The banks didn't get to this point all on their own, and every bit of bad news we've heard since the initial crash has been directly caused by stock values and trends. My opinion of media who constantly report on these stock freefalls puts them in as well. Though that's a matter of morality. They feed the engine of destruction to make a buck in paper sales.

Too much political machine, too much pork, and too much bailing out of companies that still perpetuate CEOs' getting bonuses (because they've done such a smashing job) and allowing them to continue living in their alternate universe. I just wish our leaders would start acting like leaders. It appears there is an agenda to spend us into a socialist republic. Had the pork not been slid in (not to be taken the wrong way...or is it?) and the voters given enough time to actually read the stimulus, I might think differently about it.

Jillian

I saw this interview w/Steve Forbes. Interesting...thought I'd share.

http://moneynews.com/streettalk/forbes_fed...omo_code=7BCE-1

Jillian

Jillian: Thanks for that link! I have a list to forward it to.

oldraven: There is plenty of blame for all!

Slàinte,    

Patch    

There certainly is, Patch.

http://www.cnbc.com/id/29656379

Here's what I was talking about. If these newsagents actually posted some positive news once in awhile, things may improve. GM announces that they don't need the $2B they initially asked for to survive through march, and their stock jumps 9%.

The link basicly indicated that 13 plus b (gifted to them earlier) would get them through Jan feb and Mar. I would hope so!! When their own auditors said about a week ago that no amout of government assistance would save the company, I wonder why we are doing this!! Both pieces of info are 180 degrees apart. Initially I thought this news release might have been orchestrated to allow key people to sell off their stock at a little better price, signaling impending terrible news. Though this practice takes place, I do not see it here. Also, a 9% up tick in a stock selling the last I knew for less than $1.50 a share is but "chicken feed.". If you look back at the years after 1929, the market fluctuated wildly. Fragments of good news shot prices up and slight rumors of bad news caused great losses! Much like today. Also, the market took the first big drop in Oct. of "29" but the bottom was actually in "33". We didn't have the "averages" that we watch today. My book tracks the total day by day loss based on closing prices/values. Chapter 11 here or Reorganization in Canada is not a bad thing for the company. Employees will take wage cuts and all the fat will be trimmed from the company but it should survive. Failing that, GM will very likely cease to exist through out the world and the employees will have NO jobs.. Wages are going down everywhere else so why should the UAW or any other group be exempt?

This article did not give me any incentive to buy GM or any auto industry stock.

Thank you for providing the link.

Slàinte,    

Patch    

Yes, 9% is a pittance, compared to what was lost, but my point was that posting positive news has positive results. I'm not arguing that they aren't blowing through cash at an alarming rate. So you have to wonder, how many positive things that happen on a daily basis in business world get ignored by newsagents, things that could actually do us all some good, whist every scrap of doomsday talk makes a headline and drives the market down even farther?

I see your thinking but to me, we are watching history repeat it's self. (bail out's being the exception as those are "today's invention)

Slàinte,    

Patch