Mad money
Frank
economy has turn or well there be more pain forthcoming?
Al Bundy
> What are you guys going to do with the tax rebate? Hope the corner on the
> economy has turn or well there be more pain forthcoming?
I'm cutting expenses across the board. There won't be any "extra"
spending so the government is on a fool's errand as far as sending me
a rebate and hoping it will be put in the economy.
Logan Shaw
I don't think the government cares about what one individual does. They
are looking at the averages and the trends across the entire population.
And I think it's fair to say that people here in this newsgroup are a bit
atypical because the US population in general is not very frugal.
In fact, the typical US consumer will probably get their $600 rebate
check and then charge $700 worth of crap they don't need onto their
high-interest credit card, thereby accumulating another $500 worth of
interest by the time they pay it off, and in the end being $600 poorer
as a result of getting the free money.
- Logan
timeOday
Not to mention they still have to pay the $600 of "free" money as well!
Money isn't free. What this "rebate" is, is a mandatory loan. Even if
you were to decline your share and send the check back to the IRS, you
would still have to repay through higher inflation down the road.
I'm getting skeptical of this whole theory about deficit spending to
juice the economy ala Regan. Sure, in the short term it "works," but so
does a payday loan, in the short term. The problem is we just don't
have the political will to repay loan later. This policy has enough
history behind it now to prove it.
Rod Speed
> Frank <norep...@nothome.net> wrote
Plenty will tho, so a few fools like you are completely irrelevant.
Rod Speed
> Logan Shaw wrote:
>> Al Bundy wrote:
>>> On Apr 4, 11:11 pm, " Frank" <norep...@nothome.net> wrote:
>>>> What are you guys going to do with the tax rebate? Hope the corner
>>>> on the
>>>> economy has turn or well there be more pain forthcoming?
>>>
>>> I'm cutting expenses across the board. There won't be any "extra"
>>> spending so the government is on a fool's errand as far as sending
>>> me a rebate and hoping it will be put in the economy.
>>
>> I don't think the government cares about what one individual does.
>> They are looking at the averages and the trends across the entire
>> population. And I think it's fair to say that people here in this
>> newsgroup are a bit atypical because the US population in general is
>> not very frugal.
>>
>> In fact, the typical US consumer will probably get their $600 rebate
>> check and then charge $700 worth of crap they don't need onto their
>> high-interest credit card, thereby accumulating another $500 worth of
>> interest by the time they pay it off, and in the end being $600
>> poorer as a result of getting the free money.
>
> Not to mention they still have to pay the $600 of "free" money as
> well! Money isn't free. What this "rebate" is, is a mandatory loan.
Nope, not if it avoids the much bigger cost of a full great depression.
> Even if you were to decline your share and send the check back to the
> IRS, you would still have to repay through higher inflation down the road.
> I'm getting skeptical of this whole theory about
> deficit spending to juice the economy ala Regan.
Its what fixed the great depression and has ensured that we havent had one since then.
> Sure, in the short term it "works," but so does a payday loan, in the short term.
It works in the long term too. We havent had another great depression what is
getting on for a full century now. There were lots of them in the century before 1929.
> The problem is we just don't have the political will to repay loan later.
But the costs of a full great depression are avoided.
> This policy has enough history behind it now to prove it.
And the proof is that we havent seen a full great depression for close to a century now.
sarge137
> What are you guys going to do with the tax rebate? Hope the corner on the
> economy has turn or well there be more pain forthcoming?
Gonna buy a 12 month CD at my Credit Union. Don't need it, so there's
no point putting it where I'l piss it away.
timeOday
Frank
"timeOday" <timeOda...@theknack.net> wrote in message
news:CrCdnW-Dme2vbGXa...@comcast.com...
> But the skyrocketing debt can't continue forever. Where will it end?
>
So much debt combined with the cheap dollar, we might end up with the
Mexicans owing America. Kinda like Bear Stearns going for $2/share. Mexico
is the second richest economy and has the richest person, Carlos Slim Helu,
(dependent on stock valuation) surpassing Gates and Buffett. Maybe we should
do a reverse osmosis on the Mexican border.
Rod Speed
> But the skyrocketing debt can't continue forever.
Debt isnt skyrocketing due to that tax rebate.
> Where will it end?
When its ensured that there isnt another great depression as a result of the sub prime fiasco.
Even the US wont keep pouring trillions down the rat hole thats Iraq forever.
Rod Speed
> timeOday <timeOda...@theknack.net> wrote
>> But the skyrocketing debt can't continue forever. Where will it end?
> So much debt combined with the cheap dollar, we might end up with the Mexicans owing America.
Nope, not a chance. It wont happend with china either.
> Kinda like Bear Stearns going for $2/share.
Nope, nothing like.
> Mexico is the second richest economy
Like hell it is.
> and has the richest person, Carlos Slim Helu, (dependent on stock valuation) surpassing Gates and Buffett.
And is worth less than Gates and Buffet combined.
> Maybe we should do a reverse osmosis on the Mexican border.
Taint gunna happen.
val189
> What are you guys going to do with the tax rebate? Hope the corner on the
> economy has turn or well there be more pain forthcoming?
Put it toward my estimated fed'l tax and local property taxes.
Frank
"Rod Speed" <rod.sp...@gmail.com> wrote in message
news:65sik1F...@mid.individual.net...
> Frank <nore...@nothome.net> wrote:
>> timeOday <timeOda...@theknack.net> wrote
>
>>> But the skyrocketing debt can't continue forever. Where will it end?
>
>> So much debt combined with the cheap dollar, we might end up with the
>> Mexicans owing America.
>
> Nope, not a chance. It wont happend with china either.
>
How much wealth do you think we're transferring to China and the oil
countries? How much of our market are already own by foreign investors? It
took a foreign country to prop up Citigroup, the largest retail bank at the
time, while US companies couldn't step in.
>> Kinda like Bear Stearns going for $2/share.
>
> Nope, nothing like.
>
Pretty ugly if the fed didn't step in while BSC going from $160/share to
zero in a hurry. Market could have crashed and more foreign investors
jumping in. Just like the purchasing of the housing market by foreign
investors - cheap real estate combined with cheap dollars. The trend is
selling off America more and more. How long can this go on? Goon thing is,
I think we already saw the bottom a month ago but who knows for sure.
>> Mexico is the second richest economy
>
> Like hell it is.
>
>> and has the richest person, Carlos Slim Helu, (dependent on stock
>> valuation) surpassing Gates and Buffett.
>
> And is worth less than Gates and Buffet combined.
>
>> Maybe we should do a reverse osmosis on the Mexican border.
>
> Taint gunna happen.
>
Carlos Slim Helu was first and may still be.
http://business.timesonline.co.uk/tol/business/industry_sectors/telecoms/article2023023.ece
http://en.wikipedia.org/wiki/Economy_of_Mexico
Must read it wrong, 13th largest now. And "by 2050 Mexico will be the 6th
largest economy in the world behind China, USA, India, Japan, and Brazil",
according to Wikipedia. Anyway, we're loosing ground to third world
countries and no longer be first..
Rod Speed
> Rod Speed <rod.sp...@gmail.com> wrote
>>>> But the skyrocketing debt can't continue forever. Where will it end?
>>> So much debt combined with the cheap dollar, we might end up with the Mexicans owing America.
>> Nope, not a chance. It wont happend with china either.
> How much wealth do you think we're transferring to China and the oil countries?
Quite a bit, but thats affordable. Nothing like what is poured down the rat hole for money that is Iraq.
> How much of our market are already own by foreign investors?
Not that much. The same line was run about Japan and that worked out fine.
> It took a foreign country to prop up Citigroup,
No it didnt. If no foreign country had not been prepared to do that, it
would have been perfectly feasible for the US to have done that itself.
It wasnt even as much as the rebate handout to try
to get the economy from slowing down too much.
> the largest retail bank at the time, while US companies couldn't step in.
That last is just plain wrong.
>>> Kinda like Bear Stearns going for $2/share.
>> Nope, nothing like.
> Pretty ugly if the fed didn't step in while BSC going from $160/share to zero in a hurry.
It did step in. It didnt choose to bail out the fools that had been
stupid enough to try to profit from what that operation was doing.
> Market could have crashed
Nope.
> and more foreign investors jumping in.
If the market had crashed, they wouldnt do that.
> Just like the purchasing of the housing market by foreign investors - cheap real estate combined with cheap dollars.
The same mindless line was run about Japan at one time too.
That clearly worked out fine.
> The trend is selling off America more and more.
The same mindless line was run about Japan at one time too.
That clearly worked out fine.
> How long can this go on?
Until the US gets sick of pouring trillions down that
rat hole for money that Iraq has become, basically.
But the US spent a hell of a lot more than that on WW2
and the cold war and Korea and Vietnam and that work fine.
> Goon thing is, I think we already saw the bottom a month ago
Time will tell. I think its rather unlikely that Bear Stearns
is the only operation to have fucked up that spectacularly.
But its clear that Bear Stearns is survivable, so even another should be too.
> but who knows for sure.
Yep, no one ever rings a bell at the bottom.
>>> Mexico is the second richest economy
>> Like hell it is.
>>> and has the richest person, Carlos Slim Helu, (dependent on stock valuation) surpassing Gates and Buffett.
>> And is worth less than Gates and Buffet combined.
>>> Maybe we should do a reverse osmosis on the Mexican border.
>> Taint gunna happen.
> Carlos Slim Helu was first and may still be.
> http://business.timesonline.co.uk/tol/business/industry_sectors/telecoms/article2023023.ece
Yes, but like I said, he's worth less than Gates and Buffet combined, and thats what matters.
The total of all the megarich in mexico is a hell of a lot less than the total of all the megarich in the US in spades.
> http://en.wikipedia.org/wiki/Economy_of_Mexico
> Must read it wrong, 13th largest now.
Yep, it was never ever the second richest and never will be either.
> And "by 2050 Mexico will be the 6th largest economy in the world behind China, USA, India, Japan, and Brazil",
> according to Wikipedia.
And since anyone can write anything they like in wikipedia, thats just straight out of someone's arse.
Bet that doesnt happen, if only because their economy is crippled by their stupid
approach of pumping out hordes of brats, because thats that the roman catholic
church tells them to do, and they are stupid enough to do what they are told on that.
Even the Italians had enough of a clue to tell the pope to take his demands and shove them
where the sun dont shine. No south or central american country has had that much of a clue.
And lets not forget what they got up to human sacrifice wise.
> Anyway, we're loosing ground to third world countries
Nope, they are just doing a lot better than they used to, the ones with a clue, anyway.
Hardly any of them are stupid enough to bother with wars anymore.
> and no longer be first..
That wont be changing any time soon when you measure it properly.
Its still where the full commercialisation of almost all technology happens
first, and that hasnt changed significantly even in the last decade, most
obviously with ebay, paypal, google, the internet, etc etc etc.
And with terminal stupiditys like sub prime loans and the securitization of those too.
Stormin Mormon
--
Christopher A. Young
Learn more about Jesus
www.lds.org
.
"timeOday" <timeOda...@theknack.net> wrote in message
news:CrCdnW-Dme2vbGXa...@comcast.com...
Stormin Mormon
--
Christopher A. Young
Learn more about Jesus
www.lds.org
.
" Frank" <nore...@nothome.net> wrote in message
news:U-Odna_Jxe6aYWva...@comcast.com...
Rod Speed
> timeOday <timeOda...@theknack.net> wrote
>> But the skyrocketing debt can't continue forever. Where will it end?
> When the Chinese buy the USA.
The same stupid claim was made about the Japs.
> They already have a lot of treasury bills.
The same stupid claim was made about the Japs.
Yours stupid system of putting your sig at the top sees any
properly implemented usenet client bin what you quoted.
The Real Bev
> Stormin Mormon <cayoung61**spamblock##@hotmail.com> wrote
>> timeOday <timeOda...@theknack.net> wrote
>
>>> But the skyrocketing debt can't continue forever. Where will it end?
>
>> When the Chinese buy the USA.
>
> The same stupid claim was made about the Japs.
Who, in apparent confusion about the definition of the word
"investment", bought high and sold low.
--
Cheers, Bev
================================================================
"Is there any way I can help without actually getting involved?"
-- Jennifer, WKRP
Rod Speed
> Rod Speed wrote
>> Stormin Mormon <cayoung61**spamblock##@hotmail.com> wrote
>>> timeOday <timeOda...@theknack.net> wrote
>>>> But the skyrocketing debt can't continue forever. Where will it end?
>>> When the Chinese buy the USA.
>> The same stupid claim was made about the Japs.
> Who, in apparent confusion about the definition of the word "investment", bought high and sold low.
Not necessarily. Some did, some didnt.
novascroller
> But the skyrocketing debt can't continue forever. Where will it end?
maybe an invasion of Iran would fix things. they have oil there you
could use.