Comments on: Porkulus Comes Home To Roost

By: Freedom

Freedom — Sat, 31 Oct 2009 10:49:53 +0000

Here’s the deal, “…said,” they want to extend the $8K home-buyer’s credit so they can get even MORE people into debt they can’t afford and then, through a “mortgage assistance” program, control the lives of those who default on their loans as well.

It’s a good method of gaining power over people, but it’s not good for the economic health of our country.

By: Emma

Emma — Fri, 30 Oct 2009 23:20:30 +0000

Further evidence of Anonymous’s delusion:

(blockquote>You want to get scared for Halloween? How’s this: Yesterday’s big stock market gains have been more than wiped out today, as traders engaged in a massive sell-off.

The Dow closed down 2.5 percent, the broader S&P 500 closed down 2.8 percent and the tech-heavy Nasdaq closed down 2.6 percent. All 30 Dow components were down on the day. Today marked the close of the worst week for the Nasdaq since March. Overall, the markets were down for a second straight week.

http://voices.washingtonpost.com/economy-watch/2009/10/stocks_ending_october_on_massi.html?hpid=topnews

Yeah, we’re doing just great, Anonymous.

By: Emma

Emma — Fri, 30 Oct 2009 23:05:20 +0000

Anonymous said on 30 Oct 2009 at 6:58 am:
Stimulus creates 650,000 jobs

How about a little intellectual honesty, Anonymous? That figure is based on a report generated by none other than the Obama Administration.

By: Snapped Shot

Snapped Shot — Fri, 30 Oct 2009 13:30:57 +0000

Success in Government Programs: $24,000 Loss Per Vehicle!…

We learn today that, after all’s said and done, each car traded in using the Cash for Clunkers program ended up costing the U.S. taxpayer—that is, it cost you—a grand total of $24,000.

For a paltry $4,500 “credit” that’s taxable in the en…

By: Anonymous

Anonymous — Fri, 30 Oct 2009 11:58:54 +0000

Stimulus creates 650,000 jobs

http://money.cnn.com/2009/10/30/news/economy/Stimulus_jobs_created/index.htm?postversion=2009103007

By: wineplz

wineplz — Fri, 30 Oct 2009 03:13:46 +0000

And to think, most of those clunkers weren’t just sent to the used car lots or junkyards for recycling. No…they were “poisoned” rendering them completely unusable and restricted the chances that they could be fully recycled, since it’s not just the tires, body and chassis that get recycled, but wiring, and most of the engine components. But not when the copper and other components have been damaged. So instead of having low-cost usable used cars for low-income folks (or others down on their luck) to purchase with cash or very little credit so that they can go to work and school, they ruin those vehicles, wave some cash in front of their faces, and convince them to sign onto financing a vehicle for the next 48-72 months, leaving the risk of default much higher.
I know they will pull the same sort of crap with Health Care. Poison the existing private insurers, say they’re not good enough, wave some flimsy “incentive” in front of us, and convince us to sign onto some crazy “deal” that steals an additional 8-12% out of our paychecks. As usual, it will hurt those in the lower income brackets worst.

By: ...

... — Fri, 30 Oct 2009 01:33:06 +0000

Also why do they want to extend the $8000 first-time homebuyer credit?

By: Anonymous

Anonymous — Thu, 29 Oct 2009 23:56:32 +0000

If the economy has turned the corner, why are the democrats wanting to extend unemployment benefits, HR 3548, hmmmm????

By: Pat.Herve

Pat.Herve — Thu, 29 Oct 2009 23:27:17 +0000

so, do you think we would now be in a better position with ‘The economy is strong’ John McCain??

By: Kevin C.

Kevin C. — Thu, 29 Oct 2009 23:07:18 +0000

WASHINGTON – The White House…aggressively defended an earlier, faulty count that overstated by THOUSANDS the jobs created or saved so far.

Sounds to me like ol’ Obamma is starting to CHOKE on that PIE IN THE SKY he was peddling last year.

By: Anonymous

Anonymous — Thu, 29 Oct 2009 22:36:50 +0000

Believe as you wish… I’m buying!

By: Emma

Emma — Thu, 29 Oct 2009 22:29:26 +0000

What does matter is that this “recovery” is temporary. It is based on a spike in spending due to government giveaway programs funded with borrowed money. As long as you’re happy to live in a house of cards, I suppose this will work for you.

This is high school economics.

By: Anonymous

Anonymous — Thu, 29 Oct 2009 21:56:30 +0000

I’m feeling pretty good these days… and you would to if you understood what was going on. The last two days don’t matter, tends matter. What does matter is an economy that has recovered to 2008 levels a year ago: Dow around 10,000, NASD around 2,000.. Unemployment is a lagging indicator. First, the market recovers to create capital, then investment creates jobs.

This is Junior College Economics 101.

By: Emma

Emma — Thu, 29 Oct 2009 21:23:48 +0000

Hummmmm… I guess Anonymous lives in a different Country than I do.

The gains are very temporary, and they occurred mostly because of govenrment programs–like Cash for Clunkers–that encouraged consumer spending. Consumer spending is about 2/3 of GDP, so big whoop on the 3.5 %.

Unemployment ROSE to 9.8 percent in September. Do you celebrate that?

By: Freedom

Freedom — Thu, 29 Oct 2009 21:13:18 +0000

…but Anonymous, just how does all that play out for you after MAJOR losses the last two days? Still feeling good about things?

By: Anonymous

Anonymous — Thu, 29 Oct 2009 20:04:21 +0000

BREAKING NEWS - Wall Street’s best day in 3 months ends with the Dow surging 189 points, S&P gaining 2.2% and Nasdaq 1.8% higher on strong GDP data.

By: Advocator

Advocator — Thu, 29 Oct 2009 19:49:56 +0000

The Wall Street investors must believe the numbers. Market’s up almost 2%.

By: Pat.Herve

Pat.Herve — Thu, 29 Oct 2009 19:15:11 +0000

just proves that you can make numbers say anything you want. It is all in how the numbers are interpreted.

By: ...

... — Thu, 29 Oct 2009 17:16:21 +0000

“Government says GDP grew 3.5% in third quarter”

That cuts about as much ice with me as an Enron quarterly earnings report.

By: Greg L

Greg L — Thu, 29 Oct 2009 17:04:46 +0000

From my inbox this afternoon:

Clunker Math:

Think of it this way, a clunker that travels 12,000 miles a year at 15 mpg uses 800 gallons of gas a year.

A vehicle that travels 12,000 miles a year at 25 mpg uses 480 gallons a year.

So, the average Cash for Clunkers transaction will reduce US gasoline consumption by 320 gallons per year.

They claim 700,000 vehicles were traded in so that’s 224 million gallons saved per year.

That equates to a bit over 5 million barrels of oil.

5 million barrels is about 5 hours worth of US consumption.

More importantly, 5 million barrels of oil at $70 per barrel costs about $350 million dollars so, the government paid $3 billion of our tax dollars to save $350 million.

We spent $8.57 for every dollar saved.

How good a deal was that???

They’ll probably do a great job with health care though!