Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe Community Center
Current Events
Economic recovery package before Congress"would provide massive fiscal stimulus."
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="wkmac" data-source="post: 481732" data-attributes="member: 2189"><p>It's funny you mention this because a couple of weeks ago I watched an interview of some economist (sorry the names and place escapes me) but they pointed out that if you took the total price of TARP, the total price of the stimulus bill and there were a couple of other smaller actins taken by gov't, but if you added all those up, there was enough money to literally pay off 90% of all home mortgages in America. </p><p> </p><p>Now I'm on record of being against these interventionist methods but if intervention is the course you are bound and determined to take, I want to ask this. It would seem to me that if you truly wanted to clear the books of toxic assets and give people the money to then go out and consume to stumulate the economy (no more house payment), that would seem to be the way to go about it as you'd kill 2 birds with one stone. At the same time, it grants almost immediate relief to the average person out there (no monthly house payment) and the banks realize immediate payoff of 90% of existing home mortgages and based on the story they've told us, most if not all banks because of these payoffs would be back in the black.</p><p> </p><p>It's because everything but this kind of approach was taken that I really question the intent and true motive of both the democrats and the republicans in this whole mess. If anything, the average person in America will only benefit an extra $13 a week while the meat and potatoes go elsewhere. But it's those people getting the $13 a week and their children and grandchildren who will be saddled with the debt and burden to payback this massive give me program but yet it's others who recieve the money up front. By the time the average folk get to experience this money. inflation if not hyper inflation will have eroded it's value and therefore more labor will have to be expended to earn the monies to maintain current living conditions otherwise known as lifestyle while also paying off this debt. People champion low taxes but they neglect to understand that to obtain low taxes in an expanding economy, some other mechanism must account for the monetary bubble (currency influx) and that mechanism is inflation. The central bank with fiat currency and fractional reserve money creation was brougth about in 1913' and it's no coincidence that the income tax was also created that very same year. They do have a relationship in economic principles.</p><p> </p><p>Intervention may provide a short term relief, but it creates a whole other set of consequences to be dealt with later that are being ignored now.</p><p> </p><p>Also you championed TARP when Bush said it was necessary so where do you think we should go from here and your SUV plan doesn't count although I did get a good laugh from it!</p><p><img src="/community/styles/default/xenforo/smilies/FeltTip/happy-very.png" class="smilie" loading="lazy" alt=":happy-very:" title="Happy Very :happy-very:" data-shortname=":happy-very:" /></p></blockquote><p></p>
[QUOTE="wkmac, post: 481732, member: 2189"] It's funny you mention this because a couple of weeks ago I watched an interview of some economist (sorry the names and place escapes me) but they pointed out that if you took the total price of TARP, the total price of the stimulus bill and there were a couple of other smaller actins taken by gov't, but if you added all those up, there was enough money to literally pay off 90% of all home mortgages in America. Now I'm on record of being against these interventionist methods but if intervention is the course you are bound and determined to take, I want to ask this. It would seem to me that if you truly wanted to clear the books of toxic assets and give people the money to then go out and consume to stumulate the economy (no more house payment), that would seem to be the way to go about it as you'd kill 2 birds with one stone. At the same time, it grants almost immediate relief to the average person out there (no monthly house payment) and the banks realize immediate payoff of 90% of existing home mortgages and based on the story they've told us, most if not all banks because of these payoffs would be back in the black. It's because everything but this kind of approach was taken that I really question the intent and true motive of both the democrats and the republicans in this whole mess. If anything, the average person in America will only benefit an extra $13 a week while the meat and potatoes go elsewhere. But it's those people getting the $13 a week and their children and grandchildren who will be saddled with the debt and burden to payback this massive give me program but yet it's others who recieve the money up front. By the time the average folk get to experience this money. inflation if not hyper inflation will have eroded it's value and therefore more labor will have to be expended to earn the monies to maintain current living conditions otherwise known as lifestyle while also paying off this debt. People champion low taxes but they neglect to understand that to obtain low taxes in an expanding economy, some other mechanism must account for the monetary bubble (currency influx) and that mechanism is inflation. The central bank with fiat currency and fractional reserve money creation was brougth about in 1913' and it's no coincidence that the income tax was also created that very same year. They do have a relationship in economic principles. Intervention may provide a short term relief, but it creates a whole other set of consequences to be dealt with later that are being ignored now. Also you championed TARP when Bush said it was necessary so where do you think we should go from here and your SUV plan doesn't count although I did get a good laugh from it! :happy-very: [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe Community Center
Current Events
Economic recovery package before Congress"would provide massive fiscal stimulus."
Top