What is wrong with this thinking? “The benefits of this stimulus may take longer to turn the economy around than most people expect,” Kamer said. “We’ve never had this kind of financial morass, meltdown, since the Great Depression.”
Kamer added there is a concern about pouring so much money into the economy: Prices could rise dramatically.
“You run a real risk of hyperinflation,” she said. “You’re throwing all this liquidity into the economy.”
What is the Obama secret weapon to prevent hyperinflation? Perhaps hyperinflation is the goal? The method of repayment for the debt?
When does a stimulus turn into "throwing good money after bad"?
“It’s almost as if we’ve been wandering in the wilderness for eight years and there’s a light,” Durso said. “That translates into thousands of good union jobs. It’ll help stimulate our economy. With this influx of dollars, people will be able to build again.”
Isn't there an excess of housing at this point in time? An excess of commercial property as well? How many years supply, waiting vacant?
Herbst said the infusion would revive a dormant industry. The state blocked projects that don’t receive 75 percent federal funding, grinding work to a halt on Long Island.
“The construction industry on Long Island essentially has been stopped,” Herbst said.
The state planned to spend $225 million on Long Island through mid-2009, but stopped after spending $47 million. How much do Wall Street folks make? Seems like that is a lot of wealth in that group and New York is looking for someone else to pay for 75% of their construction projects?
The nation is broke.
Why aren't states and communities planning to pay for projects themselves? 100%? Why are you building if you can't afford it? I think the bubble is still deflating and there is nothing to prop it up.
The federal government prints money, it doesn't create wealth. All the money borrowed must be paid back at some point in time. The alternative from my reading is destruction of the currency and personal savings/wealth.
Why burden future generations with this debt? Why not let them decide for themselves how to spend money? Future generations that can't vote and do not have an email address? Is the government spending money and planning NOT to pay it back? Sounds like the advise of some bankruptcy lawyers. Fix your kitchen, buy new carpet for your house, spend, spend, spend, and then file for bankruptcy. Bankruptcy is harder to qualify for, so from what I understand, people must spend more in order to qualify. Who really hurts? The company that made the loan? Credit card company? Taxpayers? “There will be spin-off activity for all these jobs,” Cantor said. “It will permeate its way through the economy.”
Al Materazo, a partner at Margolin, Winer & Evens in Garden City, also said boosting Long Island construction helps other industries.
“If Obama is successful in helping certain sectors of the economy, that will benefit the entertainment and retail industries,” Materazo said. “People will start going out more. You might see movies and go to restaurants. And you’ll see shopping.”
The trickle-down theory at work again?There was a time when big cities like Milwaukee and Chicago were filled with neighborhoods and factories. Workplaces for every generation. Now, the factories are gone or vacant. Jobs were sent offshore a long time ago.
As the dollar declines and the credit for the US becomes risky, how will Americans afford all the products they now import? Soap? Paper goods? Ceramics? Glassware? Why were these products so cheap for so many years? Will the dollar store become the '5 dollar store' tomorrow?
In the olden days, the trick up theory included lots of good jobs (and some stinkers) for all Americans. People with a high school education and without a high school education could find a job.
Now, there is Obama speak of creating a super-student capable of competing with highly educated students in India and China for jobs tomorrow.
What happened to jobs for those that are not super-students? Those that are not college educated? Those that may struggle to get a high school diploma? What are the Obama plans for them? Where did their factory or 'iron rice bowl' jobs go over the years?Will new industries spring up overnight? Can they compete with job destinations that do not have environmental, labor, and taxation like in the US? What is it about offshore manufacturing that makes it so attractive?
And then, after the economy booms, we’ll get back to financial fraud.
Does anyone really expect the economy to boom with financial fraud? Isn't that kinda why the economy was booming these past 15 years? One bubble burst after another?
How can there be a recovery without putting the nation on a sound financial footing first?Maybe that's the 'secret weapon' of the new administration? A reinflation of the bubbles? Pseudo or phony recovery? Everyone feels good while the fraud lottery winner is spending money, but when they run out of money, they run out of friends?No chance for the real winner to recover the lost money? No insurance for fraud? http://www.kttc.com/Global/story.asp?S=9686032&nav=menu1348_2_4This is a long article that talks about spending, spending, and more spending...the trickle down theory of economics being used the Obama administration.
What is wrong with that theory? Didn't Obama campaign against it last year? Now, all this government pork spending/stimulus is supposed to work by trickling down?
What is it when you take something, like money, and don't intend to pay it back when you take it? Stealing? A crime? The ponzi scheme of Bernard Madoff?
Young people today need some education to understand what all this free spending attitude about money today will do to their future tomorrow. Are today's latte's really worth it? Nothing to show for all that money in 40 years?
I say bring back the educational cartoons of Saturday morning - with an honest look at spending vs. saving.just my humble opinions
