When 700 Billion isn't enough

[witchdoctor]

What is this woman thinking? All they have to do to control congress, is not screw up. Instead, Pig-low-ski is telegraphing the dem's hand.

http://www.thestreet.com/story/10442526/1/democrats-plan-stimulus-package.html?puc=_tscrss


House of Representatives Speaker Nancy Pelosi (D., Calif.) is calling for more economic action from Washington. She hopes to introduce a $300 billion economic stimulus package, in addition to the $700 billion bank rescue passed into law just over a week ago :bang: :bang: :bang:

[ArlJim78]

Congressional fiscal response:
first step stimulate.
second step bail-out.

repeat until bankrupt.

[Tom]

Sadly, 700 billion, 850 billion, and another 300 billion on top of that could by Nancy a brain. Even the Wizard of Oz told her to forget it.

"You could've made a great impression,
Instead, you caused depression,
'Cause you don't have a brain. dodo dodo do do

We could try and try for hours,
But it's beyond my Wizard powers,
You'll never have a brain! dodo dodo do do"

[ddog]

we have sent somewhere north a couple of trillion already.

What some don't seem to see is that the default wave has not even really started yet.

any sort of "free money" from Congress will be heavily supported by dims and pugs now.
No questions asked.

Just a small sop to the voter, we care we care!


there is so much more pain to come many will not believe it.

this was all baked in the cake for many many years on end.

[ddog]

Congressional fiscal response:
first step stimulate.
second step bail-out.

repeat until bankrupt.

we passed that marker long ago.

[Valuist]

Our government, and I'm referring to BOTH parties, cannot do anything right. Every move is the wrong move. Way too much government intervention......the only times they should've intervened were on regulating Fannie Mae and Freddie Mac and regulating the credit default swaps industry. All the rate cuts, bailouts, TARP and silly short selling bans are nothing more than bandaid solutions and overall poor policy.

[HUSKER55]

AMEN TO THAT

[JustRalph]

yep, and now we are going to hand them the healthcare for the entire country?

[samyn on the green]

yep, and now we are going to hand them the healthcare for the entire country?That is scary, how many 300 lb, chain smoking, dual Big Mac chomping fat tub a lards are we going to be responsible for? This government is out of control, growing at a reckless pace. It is unfortanute that the majority of the sheep are going for Obama at this point in time, the biggest government expander of them all. People shopuld be looking for politicians that highlight their ability to control government spanding and shut down programs.

[ddog]

none of those seem to be running at the moment.
or if they are , they don't get on the big stage.
many of those types have seen the deal and have moved out of gvt, it is a lost battle.

at least 90% of people talk a good game but won't stand for not getting their pony upfront.

[Tom]

Samyn, Obama will be shutting down programs left and right. He has promised us that over and over again. Why, just tonight, he told he will shut down...ah....ah....uh,uh...shit down, uh.......uh...

Oh wait, for the fourth time, he has failed to mention one single cutback.....not one. The jerk is a lying SOB and has no clue what he will do. Once again, he totally dodged the question. ou would think after all this time and blaher, the fool would be able o name at least one thing, but he cannot.
becaus ehe will not. :lol:

[PaceAdvantage]

there is so much more pain to come many will not believe it.Care to be a little more specific?

[ddog]

Pa

after you approve this message.
I know you hate it so when I think things not in evidence.

:)

[PaceAdvantage]

So I am not to engage you in dialog anymore? Is that it?

[RaceBookJoe]

That is scary, how many 300 lb, chain smoking, dual Big Mac chomping fat tub a lards are we going to be responsible for? This government is out of control, growing at a reckless pace. It is unfortanute that the majority of the sheep are going for Obama at this point in time, the biggest government expander of them all. People shopuld be looking for politicians that highlight their ability to control government spanding and shut down programs.

Like Ted Nugent says in his book.....why should we worry about health care fro these people who dont care about their health. rbj

[witchdoctor]

That is scary, how many 300 lb, chain smoking, dual Big Mac chomping fat tub a lards are we going to be responsible for?


In my practice, I am glad when the patient ONLY weighs 300 pounds. I am seeing patients that are often 350-400 pounds. I had a patient a couple of weeks ago with a big heart attack that they sent the chopper for. When they tried to get her on the helicopter, she wouldn't fit thru the door. She was 4 foot 10 inches tal and weighed in at 360 pounds. :bang: :bang: :bang:

[ddog]

Care to be a little more specific?


Well ok, here goes the small parts:

I am convinced we have at least another 30% (in the least affected places) for housing to fall, in the hardest hit areas probably 10-15%.

I think the wave of option resets coming along is going to be horrible due to incomes falling , credit being pulled back by various firms that don't have the balance sheet to extend it and of course by my 2nd leg down of the recession, ok, it has only just started if you like, same result.

I think the infusion of all this "paper" is not going to be 'sterilized" as Bernake hopes , but is going to lead to higher interest rates due to competition for the safe paper and will help to crowd out private lending since the Fed will be cheaper and safer to pull cash from than banker a or b down the street.

I think that write-downs at the major banks will continue and will worsen over the next 6-12 months and will lead to more Treasury/Fed intervention.

Did you know that recently there seemed to be a halt to foreign buying of our gvt paper? It was only for a month or so from what I have seen reported but do you not think that as this spirals downward that others may get the idea that like the Japanese in the previous years and China,etc to some extent this time they don't want to see their investments go poof overnight?

That leads to tougher and tougher terms for companies and maybe the US to get financing, not good at all since we are never going to stop needing tons of short term cash to keep us going.

many firms were a basket case going into this thing and lots are not going to be around.

I think we could have a full drop back to around 1998 levels for all indexes, essentially a loss of all that "gain".
That will not spur consumers to spend.

Tons of orders/deals were being cancelled or put on hold for the last 6 months and those are not going to start now or soon.

That's some of it.

Most of it is normal stuff of boom bust, it's just that the bust has started from imo a much weaker position.

At some point things will start to flatten and move up , I just am not seeing how that is in the cards for the next year or two at least.

What would you say are the positives you see that move us up other than falling prices make everything a better deal, but you need lots of willing buyers.
How fast does a guy that lost a ton in a couple of months become a willing buyer , I don't know.

[JustRalph]

In my practice, I am glad when the patient ONLY weighs 300 pounds. I am seeing patients that are often 350-400 pounds. I had a patient a couple of weeks ago with a big heart attack that they sent the chopper for. When they tried to get her on the helicopter, she wouldn't fit thru the door. She was 4 foot 10 inches tal and weighed in at 360 pounds. :bang: :bang: :bang:

Bigger Helicopters!!! I demand it.............

I go to Keeneland for 4 days with Billw and gain five pounds............what does that tell you .......... :lol: :lol:

[Tom]

I go to Keeneland for 4 days with Billw and gain five pounds............what does that tell you .......... :lol: :lol:

BillW is missing? :eek::lol:

[PaceAdvantage]

ddog,

I appreciate the thoughtful reply...much better than just one of these: :lol: