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Old 01-17-2008, 05:45 PM   #41
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Originally Posted by Want2retire View Post
You all probably know about this already, so I'm not going to start a new thread. But,

Bernanke Backs Stimulus Effort
WASHINGTON -- Federal Reserve Chairman Ben Bernanke endorsed a "quickly" implemented fiscal stimulus package, saying it would complement the Fed's efforts to provide monetary-policy insurance against an economic downturn.
The remarks came shortly after the White House said President Bush has decided that an economic stimulus package is needed to help the sagging economy. Mr. Bush has also agreed to delay his campaign to extend his signature tax cuts until after he and Congress negotiate an emergency package to jump-start the economy, according to a Republican familiar with internal White House deliberations. Mr. Bush will outline some of his plans Friday morning.

This is from Bernanke Backs Stimulus Effort -

Sounds like the cavalry is on the way!
But why would the democrats vote for this? They want to raise taxes. Wouldn't a short term stimulus package be counter productive if you want to raise taxes? I'm sure I'm missing something.

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Old 01-17-2008, 09:28 PM   #42
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I watched Bernanke and all the Pols making points for the cameras. They wanted him to endorse an undefined fiscal stimulus package, so they send everyone 100 bucks and say The Fed told us it was a good idea. They questioned how this could work for folks that don't file taxes.......I thought the helicopter joke was comming again. Noone ever said anything about reduced spending or any long term solution to offset programs like stimulus packages or tax cuts or whatever. The whole time they're talking, the market is nosediving.

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Old 01-18-2008, 02:11 AM   #43
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The Russell 2000 is now down more than 20% from its July high making it a bear mark
market in small stocks.

Today's Markets -

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