WSJ on the rebates - will not prevent recession

[softlynow]

WSJ: Feel-Good EconomicsIn reply to:

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[Texoz]

Well, duh. As a teenager might say.

Who is fooling who with this rebate?

They don't want to talk about serious tax reform or tax cuts because we're running a huge deficit, and it's only going to get worse as baby boomers start flooding the retirement sector.

This country's fiscal policy is an addiction to the public and politicans. The only way it's going to change is when it hits rock bottom, which may be within the next decade.

 

[washparkhorn]

Thanks for the link. It confirms what many have been saying.

Bernanke should be calling an emergency meeting of the Fed to cut interest rates .5 for shorter term relief. There is no reason to wait until the end of the month. For longer term stability of this economy - the bankruptcy "reform" needs to be rolled back and the tax cuts need to be extended. Just my 2 cents.

 

[A'sD]

Just wish I had built that bunker a few years ago


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[zzzz]

Did you notice when he changed

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[pasotex]

if I agree with a WSJ editorial, it must be correct

tax rebates are a meaningless ploy

 

[Franco]

Oh my, some of the responses on this thread. This recession should be allowed to happen. The hot air needs to be let out. Lots of bad loans were made, and profits were booked that shouldn't have. Now those profits need to be un-booked. If you print more money, which is what this "stimulus" package is about, you are screwing the country even more in the long run. washparkhorn says:

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[Bottom Line]

There is definitely something going on in the US. Outside of national disaster or 9-11, I don't remember the political leadership moving so quickly in the same direction all appearing to act in a non-political manner. It's creepy.

The introduction of foreign money to invest in key US companies appears to have halted an avalanche of corporate foreclosures.

BL

 

[Texas007]

Pretty sure the people who would ***** about the government returning them some of their money are the same people who wouldn't take a day off work for MLK, would complain about winning the lottery and would find fault in a hummer

 

[A'sD]

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[StuckInMemphis]

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[washparkhorn]

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[Franco]

But, don't you understand, or are you just being dense? There are a bunch of people out there living in big houses, who shouldn't really be there. They should be living in small houses, or maybe even renting, because that's what they can actually afford. And a bunch of those big houses shouldn't even have been built. And a bunch of construction workers that built those houses shouldn't have been paid. And all those investors who loaned the money, well, they invested in hot air. You can't just print money and stuff everyone's pockets with it, and pretend everything is fine. Well, you can, but you shouldn't. Printing money is wrong. It's picking people's pockets without them even knowing it. It's the illusion of growth. The GDP hasn't been growing these past several years. People have been getting into more debt, and dollars have been printed, and that's how "wealth" has been "created".

 

[Captain Murphy]

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[zzzz]