Comments on: Fiscal Stimulus: "Why One Percent of GDP?" http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp.html Sun, 22 Nov 2009 04:39:16 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp.html#comment-3225 Anonymous Tue, 22 Jan 2008 21:04:00 +0000 http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp/#comment-3225 One issue seldom discussed is property taxes which probably added to the amount of debt which people were in denial about.<br/><br/>I often wondered if The Fed didnt shift the tax burden of Iraq to states that were able to increase property taxes in the Fed promoted housing bubble, the ownership society, where people would take on opportunities. I think a lot of unqualified and under-qualified people that were able to take advantage of no-doc subprime fraud probably forget to factor in property taxes, and thus The Fed also forgot to factor in the default of these people that never should have been given keys to homes that didnt have supporting collateral or evidence which would support sustainable cash flow.<br/><br/>Anyone think the Fed looked the other way on the housing bubble just to help fund Iraq costs? One issue seldom discussed is property taxes which probably added to the amount of debt which people were in denial about.

I often wondered if The Fed didnt shift the tax burden of Iraq to states that were able to increase property taxes in the Fed promoted housing bubble, the ownership society, where people would take on opportunities. I think a lot of unqualified and under-qualified people that were able to take advantage of no-doc subprime fraud probably forget to factor in property taxes, and thus The Fed also forgot to factor in the default of these people that never should have been given keys to homes that didnt have supporting collateral or evidence which would support sustainable cash flow.

Anyone think the Fed looked the other way on the housing bubble just to help fund Iraq costs?

]]> By: Anonymous http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp.html#comment-3221 Anonymous Tue, 22 Jan 2008 18:52:00 +0000 http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp/#comment-3221 The stimulus plan is all about Iraq and the reality of playing pea and shell games with the us economy. I just read this as a reference: President Bush will propose on Monday spending nearly $300 billion more through 2009 for the war on terror, which is dominated by the war in Iraq, a senior administration official said today.<br/>The funding, sure to be closely scrutinized by Congress, will include:<br/><br/>•$100 billion for the 2007 fiscal year ending Sept. 30, which when added to spending already in the pipeline would bring the year's total to $170 billion.<br/><br/>•$145 billion for 2008, a figure derived from this year's troop levels and expenditures.<br/><br/>•$50 billion to get started on 2009. More funds likely will be needed.<br/><br/>Does the $150 Billion stimulus jump start plan look like a mirror of what gets wasted in iraq? The stimulus plan is all about Iraq and the reality of playing pea and shell games with the us economy. I just read this as a reference: President Bush will propose on Monday spending nearly $300 billion more through 2009 for the war on terror, which is dominated by the war in Iraq, a senior administration official said today.
The funding, sure to be closely scrutinized by Congress, will include:

•$100 billion for the 2007 fiscal year ending Sept. 30, which when added to spending already in the pipeline would bring the year’s total to $170 billion.

•$145 billion for 2008, a figure derived from this year’s troop levels and expenditures.

•$50 billion to get started on 2009. More funds likely will be needed.

Does the $150 Billion stimulus jump start plan look like a mirror of what gets wasted in iraq?

]]> By: Anonymous http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp.html#comment-3220 Anonymous Tue, 22 Jan 2008 18:47:00 +0000 http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp/#comment-3220 Look at how much economic value has been destroyed in the last year with subprime fraud and then banking fraud and now the resulting market correction. We have a multi trillion dollar meltdown,but a 1% solution. Its comic! Look at how much economic value has been destroyed in the last year with subprime fraud and then banking fraud and now the resulting market correction. We have a multi trillion dollar meltdown,but a 1% solution. Its comic!

]]> By: Anonymous http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp.html#comment-3211 Anonymous Tue, 22 Jan 2008 13:55:00 +0000 http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp/#comment-3211 Ok it works...hey, I think the size of the stimulas was pulled out of Bush's anus...but that isn't what I want to comment about. I was alive in the 90s when Saddam H. was a Great Military Leader who would Bring Us Down unless we crushed him...but Slick Willie never quite got around to that. Come Y2k and here's shrub...squish! Yep it was spendy but problem solved. Now picking up the pieces is expensive too and much hand-wringing goes on. But this was like cancer that about everyone in Washington thought had to be dealt with...now that it has been-he has been-dealt with everyone regrets the cost. Not a shocker but this is like chemotherapy to kill a malignant likely fatal tumor that brings huge medical bills and much time lost from productive labor. Now that it is done people wonder maybe we didn't need chemo maybe it would have healed on its own. But I doubt it. Ok it works…hey, I think the size of the stimulas was pulled out of Bush’s anus…but that isn’t what I want to comment about. I was alive in the 90s when Saddam H. was a Great Military Leader who would Bring Us Down unless we crushed him…but Slick Willie never quite got around to that. Come Y2k and here’s shrub…squish! Yep it was spendy but problem solved. Now picking up the pieces is expensive too and much hand-wringing goes on. But this was like cancer that about everyone in Washington thought had to be dealt with…now that it has been-he has been-dealt with everyone regrets the cost. Not a shocker but this is like chemotherapy to kill a malignant likely fatal tumor that brings huge medical bills and much time lost from productive labor. Now that it is done people wonder maybe we didn’t need chemo maybe it would have healed on its own. But I doubt it.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp.html#comment-3210 Anonymous Tue, 22 Jan 2008 13:32:00 +0000 http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp/#comment-3210 test... test…

]]> By: Independent Accountant http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp.html#comment-3209 Independent Accountant Tue, 22 Jan 2008 13:24:00 +0000 http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp/#comment-3209 I have said things like this for decades. Why not 10%? I have said things like this for decades. Why not 10%?

]]> By: Ben Bittrolff http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp.html#comment-3208 Ben Bittrolff Tue, 22 Jan 2008 10:44:00 +0000 http://www.nakedcapitalism.com/2008/01/fiscal-stimulus-why-one-percent-of-gdp/#comment-3208 I've got a clip of a guy going bottom fishing... on the Russel 2000 on SUNDAY night. Can you say f'd?<br/>http://benbittrolff.blogspot.com/2008/01/this-guy-went-bottom-fishing.html<br/><br/>TheFinancialNinja I’ve got a clip of a guy going bottom fishing… on the Russel 2000 on SUNDAY night. Can you say f’d?
http://benbittrolff.blogspot.com/2008/01/this-guy-went-bottom-fishing.html

TheFinancialNinja

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