How much more money is to be given to the consumer class to blow at Wal-Mart for Chinese made goods, and how does that consumption help America? This "tax rebate" will become a tax increase in the future. Until America cuts this consumer mentality and starts investing in itself instead of other countries we will be the poorer for it.

As far as job creation through infrastructure...How many Americans will shovel asphalt in 100 degree heat?...Not many. This work is designed for the very valuable resource America hasn't embraced yet called Mexican labor. Not the jobs machine it's claimed to be.

While America desperately searches for answers to it's deli ma, it need only look to China and India to find the valuable real jobs it threw away in favor of phony, over paid, paper flipping jobs. Those countries are like young America's investing in real assets and growing at our expense. Not that hard to figure out what went wrong and how to fix it.

Good thinking. Construction business is booming over here. Get your money out of the bank, buy some land and construct. Yeah

Last time I was in the US: felt like being thrown back to the 60's: consume, consume, and: consume

^You are quite right as this IS the consumer economy at work. Unfortunately, the consumer is on vacation at the moment

105 % True!

Super QFT.

The Consumer "economy" is a virtual economy and unsustainable, because it is based on debt. This kind of "stimulus" won't do any of us any good. America needs to get back to manufacturing and saving, that is the way (back) to prosperity, and out of this mess.

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If one's going to live, live well.


*Looking Forward to my first Lamborghini, whenever I shall have her!*

Consumer economy is a self fulfilling prophecy, but it works if you invest the profits wisely: intelligence, knowledge, long term thinking. If you spend a zilliion on being the policeman of the world, and neglect everything else, like Bush did, you're gone, and you drag a big part of the world down with you. You can not blame people for trying to make a living, for taking part in the 'rat race', hell, not even for selling no good mortgages (those 'bank people' were already desperate, we should have noticed). The only responsibilty an administration (imho) has is: to control and guide the race, keep it as fair as possible, and again, spend the profits wisely.
I'm willing to give Obama a shot. He deserves it. He's confronted with a total mess and will need all the support he can get. My 2ç.

American household debt has fallen for the first time in over 50 years(since 1952). Maybe we are taking the saving part to heart this time

ACA International - American Household Debt Falls For First Time Since 1952

Quote:
Originally Posted by I Hate Ferrari
Super QFT.

The Consumer "economy" is a virtual economy and unsustainable, because it is based on debt. This kind of "stimulus" won't do any of us any good. America needs to get back to manufacturing and saving, that is the way (back) to prosperity, and out of this mess.

[quote=key03;76634]American household debt has fallen for the first time in over 50 years(since 1952). Maybe we are taking the saving part to heart this time

That is good, but it may be too little too late. There is one other aspect to this mess that we have not accounted for....foreign holders of American debt. China & India hold a large amount of our debt. How much longer do you think these countries will be willing to divert money from their economies to prop up ours!!!???

At some point in the NEAR future these countries faced with internal economic pressures will be forced to attemp to collect; AND THAT IS WHEN THE REAL **** HITS THE FAN!!!!!!! This Cluster F is not over...just beginning!!!

President-elect Obama will not be able to do much to overcome the situation we are in. President Bush put the final nail in our coffin by allowing the banks to STEAL OUR MONEY!! The "bailout" is in actuality the GREATEST THEFT OUR OUR NATIONS FIDUCIARY RESOURCES!!!!

What should have been done was to ALLOW FAILING FINANCIAL INSTITUTIONS TO DO JUST THAT.....FAIL!!!!! Our economy needed a contraction, NOT an expansion.


Now that this bailout legislation has been shoved down out throats the same way the Patriot Act was we the citizens of America are going to be left with an emormous bill that our great granchildren will be stuck with.

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Exotic owner-in training

Agree 100%. It called a hidden tax, and the definition is inflation in consumer prices!!! Given this, I'm amazed you still think gold is a bad investment. MAKE - THE - CONNECTION

Millions of Americans out of work. Beggars can't be choosers. If you think we need to go back to an economy that needs to make things and not just push paper (which I agree with) then we need to suck it up and get our (collectively) fat @$$e$ off the couch and do some manual labor again. Manual labor is not just for Manuel. The entitlement attitute (and the baby boomers are especially bad - need I remind anyone in the US of the phrase "He who dies with the most toys, wins"?) has got to go. Work hard, use you hands and live within your means. These lessons will be taught again, the hard way.

I can't believe I agree with you again. If you understand this, I'm astounded you argue with me so much on other economic issues that are directly correlated to this. Did you start watching some Peter Schiff videos? I think you might have voted for Ron Paul! If you keep on this track, we could be friends again!