Oooh I like it, and I hate it.

[Loren Littlejohn]

The stimulus package.

Basically I love it because if it works out it will stimulate the housing economy. From what I was just told he is trying to make it so Judges can just make the mortgage market value and mandate how much people will pay back (giving incentive to lenders to fucking negotiate loans so they don't lose money).

Although I think the same shit could go down in the credit card industry as it did in the housing industry. The old idea of making someones interest rate 33% after there Fico score takes a dive isn't going to work in this economy (and it quite stupid).

I hate it because as far as it effecting me, it does not at all (last time I got to give it right back ).

On a local note Cayuga county is getting 6.8 million for medicare (also IMO very good).

 

[JeffTD]

I hate how this stimulus package was carried out, and have a feeling that the lack of foresight and time taken to ensure that the money is going to the right places will really screw us over. There's virtually no accountability for where the last $7 billion went do, and while this one looks a bit better... still nowhere near ideal.

Either way, expect massive inflation in the next 4-5 years.

You have *no idea* how glad I am to be the age I am - while everyone else is looking high and low for jobs next year, I'll be just starting by college career. Hopefully the market will be better in 6-7 years when I'm out!

 

[AudioPhile777]

Shortly after class, an economics student approaches his economics professor and says, "I don't understand this stimulus bill.

Can you explain it to me?"

The professor replied, "I don't have any time to explain it at my office, but if you come over to my house on Saturday and help me with my weekend project, I'll be glad to explain it to you." The student agreed.

At the agreed-upon time, the student showed up at the professor's house. The professor stated that the weekend project involved his backyard pool.

They both went out back to the pool, and the professor handed the student a bucket. Demonstrating with his own bucket, the professor said, "First, go over to the deep end, and fill your bucket with as much water as you can." The student did as he was instructed.

The professor then continued, "Follow me over to the shallow end, and then dump all the water from your bucket into it." The student was naturally confused, but did as he was told.

The professor then explained they were going to do this many more times, and began walking back to the deep end of the pool.

The confused student asked, "Excuse me, but why are we doing this?"

The professor matter-of-factly stated that he was trying to make the shallow end much deeper.

The student didn't think the economics professor was serious, but figured that he would find out the real story soon enough.

However, after the 6th trip between the shallow end and the deep end, the student began to become worried that his economics professor had gone mad. The student finally replied, "All we're doing is wasting valuable time and effort on unproductive pursuits.

Even worse, when this process is all over, everything will be at the same level it was before, so all you'll really have accomplished is the destruction of what could have been truly productive action!"

The professor put down his bucket and replied with a smile, "Congratulations. You now understand the stimulus bill."

 

[Loren Littlejohn]

Also:

I wasn't going to state this, but I think the fact that there is nothing in this stimulus package that involves military projects is no good as well.

 

[Damian B]

Also:

I wasn't going to state this, but I think the fact that there is nothing in this stimulus package that involves military projects is no good as well.

The US spends more on it's military than every other country combined, it hardly seems like we need to spend more.

 

[Loren Littlejohn]

No I was stating money for equipment and the like. They need updated shit just like every other company.

 

[JeffTD]

Jack shit for education in it, as well!

 

[colonel kurtz]

i don't know that i agree with the bill in general, but i sure won't complain when i get an $8000 tax credit for buying a house this year...

 

[JBroll]

The government can't 'stimulate' the economy like that - their interference is a big part of why shit is so inefficient. You're being bribed with your own tax money.

Jeff

 

[AudioPhile777]

The government can't 'stimulate' the economy like that - their interference is a big part of why shit is so inefficient. You're being bribed with your own tax money.

Jeff

thats what I've been saying for the last 4 months...

 

[Aaron Smith]

I think things are just totally, totally screwed, Republican or Democrat. If people would actually start listening to Ron Paul and Peter Schiff, we might have some kind of chance eventually.

 

[Loren Littlejohn]

Jack shit for education in it, as well!

Ooooh yeah good point.

 

[roy22341]

What got us into this whole mess, at least a large part of it was spending. People spending beyond their means in the housing market and with credit cards. Granted a large part of it has to do with the global economy, deregulation of banking procedures, outsourcing, etc. etc. I think its foolish to assume that dumping inconceivable amounts of money into a poor economy with little direction will make it better. I obviously hope this stimulus bill works, unfortunately I have a feeling we're all going to be paying for it in the long run.

 

[006]

What irritates me about the homeowner stimulus is that faggots that decide to just stop making payments or, a majority of them, can't make the payments on their mortgage are the ones getting bailed out. Which is utter bullshit when it comes to people like my parents who still pay their mortgage along with all the other bills they have including $30k in debt from lenders (down from $120k last year) but they won't ever see a dime of that homeowner stimulus. Or even my friend's parents who paid their house off in 10 years. Nope. Just the fucktards that bite off way more than they can choose. Then, when they get bailed out of it, they get to refinance the home at it's current market value, not what they owe or what's left on the mortgage, the depreciated value. WTF. So not only do they get to keep the house, but they also get lower payments?!?

This country is so fucking ass backwards it's not even funny. I should go see if I can get a house right now and then just not make payments on it.

On the other hand, if those people are able to keep their home then it is easier to sustain employment = tax dollars.

~006

 

[STINNETT]

I know what you mean, but there are a lot of people in that situation only because of the declining economy, and if that keeps getting worse - it's like a domino effect.

Hell, I'm not far from it. I bought my house and for a while I was really comfortable - then the bottom started to fall out of my trade and I took a $25,000 a year pay cut just to stay employed, and I can't find anything out there that's any better. Here I am with 12 years in my trade, and I'm starting to think I'm going to have to start all over again, but how the hell will I ever afford to do that?

I still pay my mortgage, but it's a fucking nightmare sometimes because we have to scrape and scrape all month just to make it. Never have a cent left over to prepare for anything else. I'm one disaster away from being totally fucked. Hell, not even a disaster - just a bad month.

I don't think the stimulus is going to do shit for me directly, I just hope it somehow allows me to stay employed. I don't want to lose everything I've got.

 

[aberration]

I'm upside down in my house right now thanks to a horrible reassessment (read: house was reassessed for what it's actually worth) and the fact that we bought at an awful time. No shady subprime loan, no interest only, nothing like that. During a recent call to my bank, I was basically told that though there are millions of people in my situation, they (the bank) can't do anything right now because we're current. I asked, half joking, if I should skip a couple payments to get some help, and the rep said "...then we could help you."

Shit.

I am actually getting a federal refund this year, which is good and bad of course. Wish I could have been earning interest on that money all year.

 

[006]

Haha I told my parents they should just skip a payment or two on their mortgage to "qualify" for that homeowner stimulus as well. My dad goes "just my luck they'll find some way to say we don't qualify." Prolly true...

~006

 

[egan.]

I haven't read the 1073 pages of the bill yet.

 

[JBroll]

Nobody has. That's the only bloody reason it passed...

Jeff

 

[006]

Pretty much hahah.