So, would you have just rather have had them send you and your family the cash?
A) Send me $3,333 please. Small, unmarked bills.
B) Nah, go blow it on pork.
February 14, 2009
The United States, because of a financial collapse caused by its corrupt Congress, will now spend $3,333 per citizen on a "stimulus"
So, would you have just rather have had them send you and your family the cash?
A) Send me $3,333 please. Small, unmarked bills.
B) Nah, go blow it on pork.
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62 comments:
Since us Americans have show that we have no ability to save and would simply spend it on Walmart imports from China, I'd rather see people work for the money and hopefully improve the infrastructure of the country and move us towards energy independence.
I enjoy watching Republicans cry about how much money we are spending. These are the same Republicans who used to say that "deficits don't matter" and whose Presidents have racked up 90% or more of the $11 trillion national debt so far including the almost doubling of it since Bush started in 2000. They only complain about spending when they are not the one's barreling the pork.
c) keep the money and save it so that there is actually something for me to live on when I retire
What will the market think of the ACTUAL PASSED STIMULUS news on Tuesday?
The Big O should sign it on Presidents Day.
And then he is supposed to announce something on the foreclosures on Wednesday.
Tuesday "should" be a green day.
Bear Market Rally...
Hey idiot Sashers, JP Morgan Chase (the people who service my mortgage) just announced that they will place a temporary halt on foreclosures until the middle of March. That is when the Federal government is supposed to announce a plan via the U.S. Treasury Department (that means YOU, the Taxpayer)a one standardized plan to modify mortgages.
I haven't paid a mortgage payment since December of 2007. I only recently paid $9000 (a small fraction of what I would have paid) just to string them along.
Everytime I skip a payment, I laugh my fucking ass off! LOL, LOL, LOL. The only thing Chase sends me is a warning letter a phone call reminding me of the penalties and interest payments they will tack on to my principal.
I think this whole housing bubble is freaking funny. Ok, well it's back to sleep on my expensive Tempurpedic Swedish luxury memory foam mattress (it is nice to live a life of luxury, especially on someone else's money!)LOL, LOL, LOL, LOL.
Oh one more thing Sashers, you Fucked Savers are so screwed! Wait till the government taxes the living shit out of you or just outright devalues the dollar! Good going F.S., good going!
That's chicken scratch.
We owe nearly $60 Trillion over the next 20 years or so; about $200,000 for every man, woman, and child.
It's much worse than that, because the poor can't pay and the rich won't.
The government can fuck around all it likes; it matters not.
The result will be inflation, which is why there is such stark panic right now at deflation. It makes debt hurt worse instead of less.
The USA is using its country like an ATM, much like its citizens used their houses. They call it stimulus but it is really a borrower's bill. Borrow more money because you still have not run your fiscal house responsibly. WHAT IS THE USA'S CREDIT LIMIT? HOW MUCH CAN IT BORROW BEFORE IT IS BROKE? It is irresponsible for anyone to keep borrowing money like their is no tommorrow. There is something seriously wrong with a nation that must borrow money constantly to survive. If they did send the money to its citizens, the smart ones would buy silver and gold with it.
>So, would you have just rather have had them send you and your family the cash?
Yeah, or maybe just not take it from me to begin with.
When you look at it, the government has so far spent over 2 trillion dollars this year, and has just passed the 800 billion OSP (Obama Stimulus Package). Last year, the deficit was around 600 Billion, so you can probably expect the same amount this year if not more.
So overall, we know (for certain) that the government has spent 3.5 triliion this year... and it isn't even March yet.
Assuming there are 350 million Americans, that's about $10,000 dollars per person. But since only about a third of those work, that's about $30,000 per tax payer.
I don't know about you... but most tax payers don't even make that much per year and can probably only put $500 to $1000 on the side each year if they are really lucky. So that means that the government has spent more money so far this year than the average taxpayer can pay back in the next 30 to 60 years... and it's only FEBRUARY!
Never mind that the total public debt of the US is about $120,000 per taxpayer.
By those calculations, if you consider each generation lasting 30 years, you have already indebted between 5 to 10 of your future generations. In other words... if you start saving now... your great, great, great, great, great, great, great, great, great grandchildren will be debt free some 250 years from now.
And we haven't even BEGUN to start talking about the PRIVATE debt...
Mr.X
$3,333 would come in handy. I need some more chinese electronics and tainted food.
You want your Moon Shot -- but spending on highways and broadband is "pork." You laughed at Bush's $600 stimulus, but $3000 is, somehow, just right.
I sense a pattern. You'll rip whatever the gov't is doing at this particular time. Doesn't matter whether you contradict yourself.
Guess that's part of being a blogger, huh? Fine. But don't claim the high ground, k?
Keith,
You can thank Obama for that, the guy you voted for!
I don't get it , you praise the guy yet you disagree with his policies! Why the heck did you vote for him then?
.
$3333 per how do you figure?
Hundreds of Billions divided by millions works out to more than that!
I realize it says 'per citizen'
but even then some guy figured out that that kind of money divided amongst everyone 18 and over would receive about a half million then after 'taxes' you would come out with about $297k
So $3300 don't compute!
.
"So, would you have just rather have had them send you and your family the cash?"
If it was spent on infrastructure (roads, or mass transit, or health care)it would be a good thing. The local roads are pure sh*t.
But tax breaks for rich people. An utter waste.
$3K - what a joke, what an insult - that may barely cover a months mortgage or rent for many folks - especially those living along the coast here (where housing has tanked the most).
This is just another waste of money, and without decent wage increases/benefits and some form of job protection - mainly private industry - this country is really scr*wed for the long-term.
Hi Nick,
What is your mortgage payment supposed to be per month?
What are you doing with the money that you have set aside from not paying your mortgage?
-Mike
Dear Fellow REALTOR®,
Here's our take on the Stimulis Bill and Treasury announcements made this week. We look at the Stimulis package AND the Treasury's package holistically, in compliment with each other - mostly because that's how the Obama team is looking at it. Your representatives, the NAR Board of Directors, asked us in November to do 4 things (with an unspoken but clearly understood mandate to PRESERVE what we already have). Here they are: 1) get loan limits raised for high cost areas, 2) make the $7,500 tax credit NOT a loan, 3) try to find ways to push interest rates down (which are higher than they should be due to systemic risk right now) by 200 basis points, and 4) help provide solutions to the foreclosure/short sale problem.
So here's what we have achieved: 1) the loan limits will be raised to $727,000 in high cost areas, 2) the tax credit will be raised to $8,000 with NO payback [a true credit], 3) interest rates have come down 125-150 basis points, and 4) the bill has over $50 billion in it for foreclosure mitigation, with Geitners Treasury plan signaling that the second half of TARP and TALF will be used to mitigate foreclosures through a government guarantee, drive down interest rates by buying another $200-300 billion of mortgage paper from the GSES's thereby freeing them up to do the same with new mortgages, and Fannie has just agreed to lift the cap of 4 investment properties eligible for loans and raise it to 10.
In addition, we preserved what we have - which some tend to forget is always on the table when these negotiations start up again - mortgage interest deductability, real estate tax deductability, and the $250,000/$500,000 cap gains exclusion (an overall package worth more than $100 billion and for some a very attractive funding source for their pet projects).
We did make a run at the $15,000 credit -- and we would have loved to have gotten that or the Homebuilders $22,000 credit idea as well as their 5 year loss carryback deal, but they were considered too rich for this program. What it did do though is totally take the debate off of whether a tax credit should be reinstated at all (it expired last year) and whether it was a true credit or a repayable loan, and kept the conversation on how much it should be. It also kept the debate off of 'what we are willing to give up to get a $15,000 tax credit' and kept the debate again, on how much it should be. It's pretty hard to complain when they give you what you ask for and you lose something you never had.
While we study the Treasury specifics on their major role in providing the rest of the housing solution -- there is much more to come and we are working diligently with the Administration to help 'unclog the pipeline' and get capital flowing into housing again.
Sincerely,
Charles McMillan, CIPS, GRI
2009 NAR President
Will you buy stock with your money.
http://www.safehaven.com/
article-12603.htm
Is this 1930 all over again?
The Great Depression started with the stock market crash of 1929, but the markets didn't bottom out until 1933.
Along the way there were several major rallies, yet the overall trend was bearish in nature and new lows were periodically made after these bear market rallies faltered.
Anyway, much like today - where many "experts" advise that the markets are ripe for a re-entry point and our economy will soon turn around - pundits and leaders of the depression era were consistently telling folks "The Bottom is in"... Those who took this "expert" advice did so at their own peril - and ultimately most were creamed as the markets continued to fall into the abyss for several years.
With ALT-A and option loan resetting, Congress consider allot more money pr citizen.
http://www.scoopit.co.nz
/story.php?title=New_Wave_of_Alt-
AARM_US_Mortgage_Resets-1
According to an article written last week by Eric Uhlfelder, Credit Suisse maintains that about $1 trillion in Alt-A and option payment mortgages are scheduled to have rate resets in the next 30 months. These resets, the bank says, could cause as much future damage as the subprime crisis has already inflicted.
If these resets and the resulting increased monthly payments send defaults soaring, and given other factors such as job losses and falling home prices there is every indication they will, the bank projects that foreclosures over the next four years could reach nine million or 18 percent of all mortgages.
Can Congress fix this problem.
http://www.cnbc.com/id/29163204
The commercial real estate market is in trouble, and Cramer doubts if the related mortgages that come due this year will roll over, even if buildings are fully rented.
Most likely, there will be problems with 2-28 mortgage rollovers as well.
Remember, these loans offer fixed teaser rates for two years to less credit-worthy borrowers, and then an adjustable rate for the next 28 years.
That first two-year period gives these borrowers a chance to boost their credit score in hopes of refinancing before the adjustable rate kicks in.
But Cramer said the Alt-A mortgages, which fall in between prime and subprime loans, won’t be able to refinance. And that’s going to make life very difficult for those borrowers.
anon @5:42,
305,806,000 * $3,333 = $1.02 trillion
Of course that's population which includes non-citizen residents, but doesn't include non-resident citizens or people living in US territories.
"If it was spent on infrastructure (roads, or mass transit, or health care)it would be a good thing."
Why is building "infrastructure" such a big fucking deal? Why would it make this all OK?
When the price of everything goes up and there are mass riots because people can't afford a $20 gallon of milk, I guess it will be good to have a nice smooth road for the National Guard to drive in on and keep the starving citizenry from bum-rushing the wealthy suburbs.
I guess that will make it ok.
I seriously feel fucking sick about this. I feel like I am trapped in a cage and have no where to go, and I still have my job, have a VERY manageable mortgage, and am otherwise debt-free. I can't imagine how people worse off than me feel - are the poor fools actually feeling hope that things will get better for them because of the stimulus package?
The system is going to collapse from debt somewhere down the road, and it is going to be ugly. If we are LUCKY it will all end with a whimper, but I have a feeling more and more that it will be with a bang. A big fucking bang.
$3,333 buys a lot a ammunition.
A: 8,000 rounds of 9mm.
B: 80,000 rounds of .22LR
c: 3,000 rounds of 30-06
Choose wisely my son.
Really, I don't mean to sound like a broken record with the 2nd amendment thing...but what else is going to save us!? I can't think of one single thing.
Can you?
Saying that this mess was "caused by congress" is not correct. It was caused by Wall Street greed and merely facilitated by Congress. You know that, Keith.
Buh buh buh your messianic hero said that this stimulus was soooo important to the US. Remember that he said it would be the Apocalypse without. What happened?
No surprise since this is the new America, in which the government is in charge of creating jobs.
Nope, we don't need entrepreneurs anymore or responsible competent people who played by the book and were waiting to fleece the incompetent in order to turn this economy around. Let the Messiah, Pelosi, and Reid, "create" jobs for Julio. Hey, the Snuggies must be Reid's creation. These freaks are trying to kill our entrepreneurial spirit by rigging the game.
.
YOU KNOW AMERICA IS DEAD WHEN ALL SHEEPLE ARE CONDITIONED TO THINK THAT IT'S GOVERNMENT'S FUNCTION TO BUILD ROADS AND BRIDGES. THEY SEE THAT AS A "GOOD THING". AMAZING!
.
Our govt. is completely fucked. It is going to borrow itself into the same situation all those Fucked Buyers are in...it's just a matter of time.
And then it will all come crashing down on all of us.
Keith, BO's your man. I don't understand you sometimes. You railed against money bombs on HP.com but here on S&A you think it will save us one day and then the next day you think it'll kill us. What gives man?
At least this batch of doe is being spent on 'operation rebuild america'. Unlike that last batch on 'operation give it to the banks', or 'operation Iraqi Rathole'.
The repubs gotta have all their soiled panties all twisted up in knots about rebuilding america first! How refreshing.
At least Phelps blew it one something useful.
.
You Husein Obama voters happy yet???
Are you figuring the error of your ways yet?
.
Don't blame me...
I voted for the other white meat!
How long til we see the
"Don't blame me" bumper stickers!
http://www.bloomberg.com/apps/news?pid=20601039&sid=aZruAW7s2eLI&refer=home
I'd rather they gave it to nancy pelosi for a face transplant.
Yeah, let's fix an economy groaning after the popping of a debt bubble fuelled by foreign-owned debt spending for consumption by...
Borrowing another $0.8 trillion from foreigners and spending it on government consumption!
That's the ticket!
By those calculations... you have already indebted between 5 to 10 of your future generations.
Not a chance. There's the printing press and, failing that, the U.S. will default on its debt. Start hoarding food now!
Hey idiot Sashers, JP Morgan Chase (the people who service my mortgage) just announced that they will place a temporary halt on foreclosures until the middle of March. That is when the Federal government is supposed to announce a plan via the U.S. Treasury Department (that means YOU, the Taxpayer)a one standardized plan to modify mortgages.
I haven't paid a mortgage payment since December of 2007. I only recently paid $9000 (a small fraction of what I would have paid) just to string them along.
Everytime I skip a payment, I laugh my fucking ass off! LOL, LOL, LOL. The only thing Chase sends me is a warning letter a phone call reminding me of the penalties and interest payments they will tack on to my principal.
I think this whole housing bubble is freaking funny. Ok, well it's back to sleep on my expensive Tempurpedic Swedish luxury memory foam mattress (it is nice to live a life of luxury, especially on someone else's money!)LOL, LOL, LOL, LOL.
I hope all of you who voted for or supported Obama are satisfied now. You got that Keith? This is the kind of scum you will now support under liberal democrat policies!
Mr. X:
"I don't know about you... but most tax payers don't even make that much per year and can probably only put $500 to $1000 on the side each year if they are really lucky."
Look up the average income of an adult. You might not feel so lousy about the world. Then again, you might feel like a huge loser when you see the average joe makes more than you.
As for what people can put away, who cares what you think people 'probably' do? You don't even know what the average American makes, so your opinion on savings is likely to be misguided as well.
Keep getting all your info from blogs, Cletus. Meanwhile the world keeps moving forward...
Obama the president of the people for CHANGE.. Funny thing I don't see much Change Same old shit with the same old people.. Thanks Obama Lovers.
At this point deficits don't matter anymore. We've already reached the point of no return. Does anybody on this board seriously believe that our government has any intention of ever paying that money back? We'll just borrow more to pay our debts and fund all kinds of other crap we don't really need. When the day of reckoning comes will simply print up the difference, problem solved. The day of reckoning is probably still a decade away. Don't worry, be happy and spend while you can.
Funny how it's always the chest thumping idiots that call others names such as "Cletus"
Look up an income distribution chart sometime. You might not look like such a fool next time you throw your insults around.
Let me guess. Mid 20's mouthy salesman type.
How are those commissions?
Anonymous said...
YOU KNOW AMERICA IS DEAD WHEN ALL SHEEPLE ARE CONDITIONED TO THINK THAT IT'S GOVERNMENT'S FUNCTION TO BUILD ROADS AND BRIDGES. THEY SEE THAT AS A "GOOD THING". AMAZING!
Are you being ironic or are you retarded? I can't tell.
My brother got himself into a very large amount of credit card debt. What with his divorce, frequent job changing and just silly spending, he racked up almost $40k in cc debt. He was then making only about $1000 a month at his slacker job. He couldnt' make the payments which kept increasing due to late fees, etc. He had no other option. He filed Chapter 7 and got out from under all that. Now he is being a good boy, no charging, drives an old car, lives in a one room apt. But the point is, he had that option. Does the US Govt have that option? When we finally have racked up so much debt we can't make the payments, can we just file bankruptcy and get out from under? Somehow, I don't think that will work. So what would happen?
A
I will short the dollar with it.
800,000,000,000/300,000,000=about 2700.
So the 3333 per citizen is about right.
Of course it's borrowed money so you have to pay interest.
My only question is:
Suzanne, whats's the monthly payment?
did anyone notice that real estate taxes are deductible on this years 1040? That would be a tax cut in a place that seems to add a 10 percent increase every year no matter what? strange there was no one bleeting about this as all i hear and feel about these things is..........
i thought the population number went above 400 million a few years ago.
i find a string of 30 thousand dollar houses for sale that "need" nothing and I consider this to be freedomish and stress releiving even tho i do not much care for the neighbors but then again i did not much care for the neighbors in the 10 times the price neighborhoods not the 100 times the price neighborhoods/
"...The Great Depression started with the stock market crash of 1929, but the markets didn't bottom out until 1933.
Along the way there were several major rallies, yet the overall trend was bearish in nature and new lows were periodically made after these bear market rallies faltered.
...much like today - where many "experts" advise that the markets are ripe for a re-entry point and our economy will soon turn around - pundits and leaders of the depression era were consistently telling folks "The Bottom is in"... Those who took this "expert" advice did so at their own peril - and ultimately most were creamed as the markets continued to fall into the abyss for several years."
*********************
"...When the price of everything goes up and there are mass riots because people can't afford a $20 gallon of milk, I guess it will be good to have a nice smooth road for the National Guard to drive in on and keep the starving citizenry from bum-rushing the wealthy suburbs..."
Holy smokes; ain't that the truth.
We cannot yet imagine how horrible it will get, but I would submit a fundamental difference between then and now.
We as a whole are a much angrier, less-accepting people, yet also much less capable of self-reliance.
My God. This country will be unrecognizable in 5 years.
Why is building "infrastructure" such a big fucking deal? Why would it make this all OK?
------------
Because it creates jobs.
Gotta love the retards who think that it's government's function to be creating jobs or spending our hard-earned money on their "infrastructure" picks. Nope, don't keep your money and punish the "rich" with higher taxes, instead give that money to the government because people like Pelosi, Reid, and Barney Frank know what's best for you. Your Messiah said so; it must be true.
Give your hard-earned money to them, retards, to the morons who never run a business in their lives but act like "experts" in creating jobs or building things and commerce.
These "experts" are the same failures who work as columnists at the New York Times or Newsweek, who couldn't make it in the real world and now just make a living either by being a troll for special interests or socialist parties, or as a taxpayer union-parasites at universities.
Funny, idiots like Bill Maher or Huffington never question that, while inflation increased 30% in the last few years, tuition went up 300%. And these are the "intellectuals" who are always bitching about capitalism, always vomiting their communist agenda. People like your Messiah, who was a professor who never had a freaking business and now want to tell us how to spend money or create jobs.
Meanwhile, you retards want to pay more taxes to the government, to corrupt NASA e other shady government agencies that suck money from retards like you for their evil black projects. As soon as they post little movies of spaceman, rockets, and pictures of planets, you retards get all wet and start throwing money at the crooks.
The new Ponzi scheme that the retards are getting wet for now is "carbon taxes". Oh my, the sheep can't wait to be transferring their hard-earned money to Goldman Sachs & Co. or to a crooked World Central Bank, to ooohhhhhh fight the evil "Global Warming". These professional conmen love fools like you, retards.
Do you even know how much corruption there was during the building of the Hoover Dam? Do you know how much money was stolen from taxpayers?
Yep, keep rolling for you crooked government and keep on giving more money to them, or getting wet every time they show a fluffy polar bear or spaceman. The bankers and politicians love your kind.
G-Men in short supply as bailout fraud expected to rise
Can we expect to see more investigations into the financial shenanigans at major companies a la Enron? The FBI seems to think so, but apparently there aren't enough agents to deal with the expected uptick in financial crime.
The FBI told Congress this week it expects an increase in fraud cases tied to the bailout, but the agency doesn't have enough resources to deal with it.
http://www.walletpop.com/blog/
2009/02/14/g-men-in-short-supply-
as-bailout-fraud-expected-to-rise/
Anonymous Mike Hunt said...
Hi Nick,
What is your mortgage payment supposed to be per month?
What are you doing with the money that you have set aside from not paying your mortgage?
-Mike
February 14, 2009 6:26 PM
Mike, my mortgage payment is supposed to be $5650 per month. I owe 800K and about $700 is added for the late payments plus for all of the shit I bought.
With me missing payments, I take that cash instead and it goes straight to the safe deposit box. Plus, now that I am so sick (I was involved in a really bad T-Bone car accident), I can always claim that I am a victim of unfortunate circumstances and plus I can obtain fake medical bills for various tests! I love scamming the system. I got tired of working so damn hard only to see others get away with it. The only difference between me and you Sashers is that I decided to join the party.
Anonymous Anonymous said...
Hey idiot Sashers, JP Morgan Chase (the people who service my mortgage) just announced that they will place a temporary halt on foreclosures until the middle of March. That is when the Federal government is supposed to announce a plan via the U.S. Treasury Department (that means YOU, the Taxpayer)a one standardized plan to modify mortgages.
I haven't paid a mortgage payment since December of 2007. I only recently paid $9000 (a small fraction of what I would have paid) just to string them along.
Everytime I skip a payment, I laugh my fucking ass off! LOL, LOL, LOL. The only thing Chase sends me is a warning letter a phone call reminding me of the penalties and interest payments they will tack on to my principal.
I think this whole housing bubble is freaking funny. Ok, well it's back to sleep on my expensive Tempurpedic Swedish luxury memory foam mattress (it is nice to live a life of luxury, especially on someone else's money!)LOL, LOL, LOL, LOL.
I hope all of you who voted for or supported Obama are satisfied now. You got that Keith? This is the kind of scum you will now support under liberal democrat policies!
February 15, 2009 2:36 AM
I just love it when people continue to see policies in our country as liberal or conservative only. It doesn't matter, even if McCain won or Republicans controlled congress, they still would have proposed the same thing. Don't forget, McCain the so called fiscal conservative proposed some kind of crazy mortgage bailout during the campaign.
they surely are not trying to stimili savers accounts what with these horrible rates
the change in deductible real estate taxes is for standard deduction takers./////////
"...Gotta love the retards who think...Messiah said so...retards...morons who never run(sic) a business in their lives...New York Times or Newsweek...socialist parties...universities...Bill Maher or Huffington,,,"intellectuals" ...communist agenda. People like your Messiah...you retards... retards like you...you retards...the retards are getting wet...fools like you, retards..."
{priceless}
"Do you even know how much corruption there was during the building of the Hoover Dam? Do you know how much money was stolen from taxpayers?"
Not as much as was stolen by American contractors during your President's war in Iraq. Oh, yeah. You wanted us to forget that. Because Bushy-boy is a hero in your eyes. I guess American corporate corruption is A-Ok when it's part of a Republician war machine of destruction. But when it arises as part of a plan for job creation for the middle class, oh boy, that that get your blue blood boiling...
Net - net, let's al get to the point.
This country is so, so, F*CKED!
"Because it creates jobs."
Oh, job creation, right. The question noone asks is:
For HOW MUCH and for HOW LONG?
Are we going to offer these infrastructure builders a 47-year pension once a 3 year road-building project is done??
Are we all supposed to be jumping up and down and clapping about the prospect of bright new employment opportunities (for the able-bodied only) on what amounts to a government chain gang?
This is all crazy. Absolutely fucking crazy.
"Funny how it's always the chest thumping idiots that call others names such as "Cletus"
Look up an income distribution chart sometime. You might not look like such a fool next time you throw your insults around.
Let me guess. Mid 20's mouthy salesman type.
How are those commissions?"
Average man: 43K.
Average woman: 35K.
Responding to garbage such as: "...But since only about a third of those work, that's about $30,000 per tax payer.
I don't know about you... but most tax payers don't even make that much per year..."
...is hardly worth it, but to get an equally useless response, STILL WITH NO DATA - priceless.
Let me guess - student. LOL
"did anyone notice that real estate taxes are deductible on this years 1040..."
WTF? They have been ever since I have paid a mortgage, 10 years now.
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