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Email Print posted by beelzibub 01/31/2008 01:07:17 PM EST

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< A Sad Day | It's the Electoral College, Stupid >
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1 | 9 comments (9 topical, 0 hidden)
It won't matter. (none / 0)

The lower interest rate will end up sending more dollars overseas in every form imaginable.  Savings and domestic investment will be considered (and are) relatively worthless endeavors because of the low payback.  It makes a bad situation worse, but they're hooked on the interest rate drug and can't get off of it.  But it was the only tool the Fed had when they saw the stupid "stimulus" proposals coming out of the administration and Congress.

The "stimulus" bill is just a grandstanding act that does nothing.  We might get a one month blip out of it.  $100 billion dollars down the tubes -- it'll end up mostly in the hands of the banks after it buys some groceries -- and we don't even get a better mousetrap for it, much less anything that keeps on producing.

Our representatives and administratrators don' t read history books, much less anything having to do with economics.  FDR showed us how to deal with this problem.  It's only ideology that's keeping us from solving it this time -- and it's an ideology that keeps making the situation worse and worse, but we keep voting for it over and over again.

Tax cuts: An opiate that can kill.

by Juarez Traveller on 01/31/2008 01:33:12 PM EST

yeah yeah that's it (none / 0)
C e n k.

by zachhobbs on 01/31/2008 08:56:03 PM EST

[ Parent ]
Spelling (none / 0)
How does someone visit this website, and fail to notice the correct spelling of Cenk's name?

by Dogger on 01/31/2008 02:11:01 PM EST

Did I just find a smart liberal? (none / 0)
"He missed the upside of the Fed rate cuts. With these lower interest rates a lot more people can save their homes from foreclosure. They can get out of their adjustable mortgages into a lower and more affordable fixed rate."

With the government underwriting and guaranteeing refinanced mortgages, let's count the winners:

1. Subprime mortgage-holders will lock in at 5.5% for 30 years. They will gladly take that over bankruptcy.

2. Financial institutions will avoid millions of foreclosures, which are terribly damaging to the bottom line.

3. The housing market will avoid a glut of empty houses on the market.

4. The government will avoid a sharp downturn in GDP, and a downturn in tax revenues.

5. Democrats will miss an important opportunity for economic disaster.

Too bad for Democrats.

by KenTX on 01/31/2008 09:15:30 PM EST

You missed one (none / 0)
6. Credit card rates will reset lower.
    Saving millions for those who need it most.

The reason for the cuts was to save the banks.
In spite of the fact that their greed is what caused the mess in the first place.

You noice the Democrats are actively helping save the economy. Even though, as you note, it will not hep them politically. If the shoe was on the other foot, your friends in the Republic party would try and make it worse to gain a bigger advantage in the elections.

by beelzibub on 02/01/2008 08:32:44 AM EST

[ Parent ]
I was right. (none / 0)
You really are smart. Is there any way you can help my bastard son from Juarez? He needs some remedial help with basic logic.

by KenTX on 02/01/2008 01:21:25 PM EST

[ Parent ]
Hey Juarez (none / 0)
Ken has already started calling you names. That means he really likes you.

by z1p101 on 02/01/2008 02:00:13 PM EST

[ Parent ]
I feel guilty. (none / 0)
I haven't seen him in 22 years. At least I didn't name him "Sue".

by KenTX on 02/01/2008 04:26:48 PM EST

[ Parent ]
Seriously? (none / 0)
Wow man. Don't know what to say.

by z1p101 on 02/01/2008 04:57:09 PM EST

[ Parent ]
1 | 9 comments (9 topical, 0 hidden)
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