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  #1 (permalink)  
Old 24th January 2008, 08:47 PM
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The Cheque is in the Mail

The White House and the Democrats in Congress have agreed a $150bn (£76bn) economic stimulus package that will offer tax rebates to boost growth.

House of Representatives Speaker Nancy Pelosi said Congress would act on the deal "at the earliest date, so those rebate cheques will be in the mail".

Some 117 million US homes will receive a rebate of up to $600 for individuals and up to $1,200 for married couples.

Washington is moving fast to try to avoid the US falling into a recession.


I can't say that I'm totally pleased with the package, but I do know that it will help stimulate the economy
Democrats' Nancy Pelosi

Couples with children will also get an extra $300 per child.

The tax rebates for households should total $100bn, while businesses will benefit from up to $50bn of tax cuts.

"Because the country needs this boost to the economy now, I urge the House and the Senate to enact this economic growth agreement into law as soon as possible," said President George W Bush...

http://news.bbc.co.uk/1/hi/business/7206412.stm

Now that is what I call panic!
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Old 24th January 2008, 09:38 PM
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Re: The Cheque is in the Mail

Hey, more reg fees!
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Old 24th January 2008, 09:59 PM
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Re: The Cheque is in the Mail

That'll stave off the collapse, oh, a couple of weeks at least.
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Old 24th January 2008, 10:03 PM
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Re: The Cheque is in the Mail

And at the same time a 0.75 percentage point rate cut... to stimulate inflation.
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Old 24th January 2008, 10:05 PM
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Re: The Cheque is in the Mail

Its all Sam Walton's fault oh and Bush ofcourse
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Old 24th January 2008, 10:21 PM
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Re: The Cheque is in the Mail

There is no panic around here and the rebate deal is like the 3rd time in the last 10 years they have done that, not like they are taking a new desperate measure.

The only panic people will have is when times get bad which will happen but all it will be for the most part is a cut on our vast luxory. theres like 1 car for every american now, we all have shiny new cars and brand new electronics and waste trillions all the time. NO big deal.
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Old 24th January 2008, 10:49 PM
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Re: The Cheque is in the Mail

Quote:
Originally Posted by rofsjan
And at the same time a 0.75 percentage point rate cut... to stimulate inflation.
And maybe even more next week when the Fed meets. They predict another 1/2 point.
So who cares how low interest rates are if the vast majority can't qualify to borrow money.
And most of those with mediocre credit are paying 18% on their credit cards already and that isn't going to change.
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Old 24th January 2008, 11:40 PM
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Re: The Cheque is in the Mail

Here is a good page I just discovered if you want to monitor the Russian stock market:

http://fin-rus.com/

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Old 25th January 2008, 03:33 AM
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Re: The Cheque is in the Mail

With the mulitplier effect, this $150b can go into hundreds of billions.

And since this is all borrowed money, it is going to benefit Asian and commodity exporters. The boom never dies. LOL.

Last edited by touchring; 25th January 2008 at 04:18 AM..
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Old 25th January 2008, 05:06 AM
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Re: The Cheque is in the Mail

Quote:
Originally Posted by bwhhisc
And maybe even more next week when the Fed meets. They predict another 1/2 point.
So who cares how low interest rates are if the vast majority can't qualify to borrow money.
And most of those with mediocre credit are paying 18% on their credit cards already and that isn't going to change.
There will come a point where money is being sucked out of the US by foreign borrowers rather than pumped in by foreigner investors.
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Old 25th January 2008, 08:21 AM
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Re: The Cheque is in the Mail

Quote:
Originally Posted by touchring
With the mulitplier effect, this $150b can go into hundreds of billions.

And since this is all borrowed money, it is going to benefit Asian and commodity exporters. The boom never dies. LOL.

Man, it's time to develop commodities.hk

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Old 25th January 2008, 09:37 AM
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Re: The Cheque is in the Mail

Quote:
Originally Posted by Rubber Duck
There will come a point where money is being sucked out of the US by foreign borrowers rather than pumped in by foreigner investors.
No worry, the U.S. national debt is only $9.2 trillion. There is still some room to borrow more before bankruptcy.
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Old 25th January 2008, 09:46 AM
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Re: The Cheque is in the Mail

Quote:
Originally Posted by Giant
No worry, the U.S. national debt is only $9.2 trillion. There is still some room to borrow more before bankruptcy.

I read that is only the government debt. Private debt is another $30 trillions.

Oh no, it's $48 trillions!

http://mwhodges.home.att.net/nat-debt/debt-nat.htm

Last edited by touchring; 25th January 2008 at 09:53 AM..
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Old 25th January 2008, 10:01 AM
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Re: The Cheque is in the Mail

Quote:
Originally Posted by touchring
I read that is only the government debt. Private debt is another $30 trillions. Oh no, it's $48 trillions!
http://mwhodges.home.att.net/nat-debt/debt-nat.htm
Do you know how that relates as a % of GNP vs. other major countries?
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Old 25th January 2008, 10:09 AM
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Re: The Cheque is in the Mail

Quote:
Originally Posted by bwhhisc
Do you know how that relates as a % of GNP vs. other major countries?

No i don't. I only care about my retirement funds. :o
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Old 25th January 2008, 10:12 AM
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Re: The Cheque is in the Mail

Quote:
Originally Posted by touchring
No i don't. I only care about my retirement funds.
C'mon now, its your karma to link these numbers to some kind of comparable economic statistic.
Then...you can retire

Found this so far...from Wikipedia:
In 2005 the US public debt was 64.7 percent of GDP
The U.S. public debt was the 35th largest in the world by percentage of GDP.

Quote:
Originally Posted by touchring
I read that is only the government debt. Private debt is another $30 trillions.
Oh no, it's $48 trillions!
http://mwhodges.home.att.net/nat-debt/debt-nat.htm
The United States public debt, commonly called the national debt, or U.S. government debt, is the amount of money
owed by the United States federal government to creditors who hold U.S. debt instruments. As of December 19, 2007,
the total U.S. federal debt held by the public was roughly $5 trillion.[1]

This does not include the money owed by states, corporations, or individuals, nor does it include the money owed,
for example debt held for Social Security [2]. If intragovernment debt obligations are included, the debt figure rises
to roughly $9 trillion.[3] If, in addition, unfunded Medicaid, Social Security, etc. promises are added, this figure rises
to a total of $59.1 trillion.

Noting that 85% of the numbers you present are the unfunded portion Medicaid, Social Security, etc portion.

Last edited by bwhhisc; 25th January 2008 at 11:07 AM..
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Old 25th January 2008, 11:10 AM
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Re: The Cheque is in the Mail

Quote:
Originally Posted by Giant
No worry, the U.S. national debt is only $9.2 trillion. There is still some room to borrow more before bankruptcy.
When you are trying to borrow money, lowering the interest rate to lenders that already see you as high risk isn't exactly going to help! The Fed is acting as though it controls the global financial markets. We will soon see whether it does nor not. :p

Quote:
Originally Posted by bwhhisc

Found this so far...from Wikipedia:
In 2005 the US public debt was 64.7 percent of GDP
The U.S. public debt was the 35th largest in the world by percentage of GDP.
The problem is that in 70% of cases, GDP in the US is only measuring what is squandered in the shops. Even this benchmark will shrink as the economy contracts and the dollar devalues, reducing it more in international terms.
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Last edited by Rubber Duck; 25th January 2008 at 11:14 AM.. Reason: Automerged Doublepost
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