Nuthin' But 'Net: There will be blood

Peg Drager — Thu, 24 Jan 2008 22:47:59 GMT

Since I am one of millions of folks collecting Social Security Disability, what does the "stimulus package" mean to me? Not working and being on a fixed income, a few dollars coming my way would certainly help me to make ends meet. Incidentally, I do not pay income tax because I get too little from Social Security to file.

Nuthin' But 'Net: There will be blood

Karen Zimmerman — Fri, 25 Jan 2008 00:14:32 GMT

Regarding the stimulus package: Are people who get these rebates supposed to use the money to buy the shoes and coats they will need when they land on the streets for not being able to make their house payments? Overspending is largely to blame for the mess this country is in to begin with, now the government is telling them to spend more...just don't charge it this time, pay cash!

Nuthin' But 'Net: There will be blood

Jackie Rawlings Riverside California — Fri, 25 Jan 2008 07:58:21 GMT

Chris I told you we were in a recession you didn't believe me until the Stock Market dropped but Americans have been feeling it for a long time. Now I noticed in my area of California alot of foreclosures are being brought by people from Canada. Smart as the dollar is dropped and their money is more all the foreign people are buying America.
Now if Bush/Cheney did as much for the US as they do for Iraq we wouldn't be in this problem. Bush has given jobs to Iraqi men yet we see jobs lost. We have given close to one Trillion dollars to Iraq and Afghanistan yet the best the Bush Administration can give Americans is 150 billion dollars of their own money. In LA the housing market isn't bad as Spanish people are buying up property. Henry Paulson is so funny when he lies you can really tell he's lying. Ben Bernaki should learn to turn off the mic when he's finished lying about how strong the economy is. Ben made the mistake after giving his Bush speech and turned to someone and said how much worse our economy was going to get. For 7 years Americans allowed the Bush Administration to spend without any accountability. Every time Bush asked for money the Congress gave it to him without question. Americans said and did nothing. Now the bottom has fallen out and millions are losing their homes and jobs it's a problem. The Saudi Kings are more then willing to give the US more loans as to get more control. I hear candidates blame China yet American businesses went to China for cheap labor. Yes the American share holders have gotten rich on the backs of China's cheap labor now it's pay back time. China was smart enough to use the American blueprint, as it out lined how the US got to be the richest and powerful country in the World.
I look for the Stock Market to continue to go up then down until we get a new honest President and Law Makers to bring trust back to the USA.

Nuthin' But 'Net: There will be blood

Christine Colvin — Fri, 25 Jan 2008 16:39:43 GMT

Peg Drager, thanks for writing. Those who don't pay any tax will not get a rebate. This is something Senator Barack Obama is objecting to.
"Sen. Barack Obama (Ill.), whose own stimulus plan centers on tax rebates and payments, singled out low-income seniors. Under the compromise, retirees whose income from retirement plans and Social Security is not enough to qualify them for income taxes would receive nothing."
http://www.washingtonpost.com/wp-dyn/content/article/2008/01/24/AR2008012400532_2.html?sid=ST2008012401981
You might also be interested in Paul Krugman's column from today, which expands on the blog post I included in this post yesterday. He thinks the Democrats blew it by not targeting the rebates to those who would be most likely to spend the money.

http://www.nytimes.com/2008/01/25/opinion/25krugman.html?_r=1&ref=opinion&oref=slogin

Nuthin' But 'Net: There will be blood

Peg Drager — Sat, 26 Jan 2008 02:21:38 GMT

Thank you, Christine, for the response. I am truly disappointed in their short-sightedness. I feel very sad for those who can't afford to pay for the medicines they so desperatly need and the heating bills they can't afford to pay to keep from succumbing to the cold in their own homes. These same people would spend the money on groceries, winter clothes and shoes, and many other items just to survive. Wouldn't that type of "need" spending boost the economy as well as the "want" spending for a big flat-screen TV? I am absolutely perplexed!

Nuthin' But 'Net: There will be blood

Alan MacDonald, Sanford, Maine — Thu, 31 Jan 2008 21:04:52 GMT

So, now the G-men are looking for where the bodies are buried.

But while they look in corporate trash bins, and while the American rubes are distracted by 'stimulating' dreams, the bodies of CDOs and SIVs are being moved from hidden private corporate mausoleums to Arlington National ---- where funerals will have the public pomp and cost that this nation always pays to war heroes.

Perhaps Bob Dylan's old song will be revived as a funeral dirge --- sung by Freddy Mac, and backed by the retired Glass-Steagall band:

Take a load off Fanny
Take a load for free
Take a load off Fanny
And (and) (and) you can put the load right on me

Who knew, when Grover Norquist infamously threatened that he wanted to shrink government "down to the size where we can drown it in the bathtub", that the bathtub would also explode right under Uncle Sam's scrot.. um, er, 'family jewels' with planted 'debt bombs'?

Yes, when this is all over they will have to rename the Great Depression simply that old 1930's recession.

Yes, the SEC, FASB, Treasury and every manner of crook is trying to allow more 'flexibility' in hiding the bodies.

But the bodies are simply too numerous and keep rising to the surface like corpses in a Katrina-flooded New Orleans cemetery.

Ultimately the massive number of bodies of CDOs and SIVs have to be processed through the efficient and corrupt government itself --- like a financial Holocaust.

The corporatist Empire hiding behind the facade of this 'Vichy America' should be equal to the task, by spreading the death and socializing the guilt throughout the public sector --- starting with Freddie Mac and Fannie Mae.