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The War-On-Savers Escalates!
Old 01-29-2008, 10:53 PM   #1
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The War-On-Savers Escalates!

Bennie & Co. have you squarely in their sights, Mr. Saver.

Bloomberg.com: U.S.
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Old 01-29-2008, 11:35 PM   #2
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Keep spending folks, prosperity is just around the next corner.

When interest rates get to 0% what will be the next move? Maybe we will all get a stimulus check each month and everybody can retire.

Better yet, how bout eliminating any taxes and early withdrawal penalties on all 401K money. Just pull it out folks and spend away.

I think the R word is slowly receding into the background and something starting with a D is starting to fade in. I can't quite make it out yet.
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Old 01-29-2008, 11:37 PM   #3
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I'd like to see them force me to buy a new tv.

I shoudln't speak too loudly, that's probably the next part of the plan... everyone is bused to the nearest Best Buy and forced to buy a large ticket item at gunpoint.
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Old 01-29-2008, 11:46 PM   #4
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I'd like to see them force me to buy a new tv.
They are! When the USA switches to digital television, a lot of us will have to buy a converter or new TV.
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Old 01-29-2008, 11:47 PM   #5
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Keep spending folks, prosperity is just around the next corner.

When interest rates get to 0% what will be the next move? Maybe we will all get a stimulus check each month and everybody can retire.

Better yet, how bout eliminating any taxes and early withdrawal penalties on all 401K money. Just pull it out folks and spend away.

I think the R word is slowly receding into the background and something starting with a D is starting to fade in. I can't quite make it out yet.
Yes the big R is in and the big D is fading in.

The stimulus package is just a quick fix which in the long run will do very little to help the economy. We still have the problems with the housing market, the mortgage fisaco, the high price of gas, the high price of food, the high cost of sending our children to college, the high cost of the Iraq War, the high cost of heating oil, etc...., etc..., etc....

In this bleak part of our nation's history where is the GREAT Richard Simmons when we need him?

Just like Dandy Don used to sing - turn out the lights the party is over.

GOD BLESS
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Old 01-29-2008, 11:52 PM   #6
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They are! When the USA switches to digital television, a lot of us will have to buy a converter or new TV.
I'm safe. My tv is for movies and video games. Cable is for internet. I've heard some people use their cable to watch news and stuff but I'm pretty sure that's just an urban legend.
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Old 01-30-2008, 12:23 AM   #7
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I'm safe. My tv is for movies and video games.
*Gasp!* that's down right unamerican! Next, you'll be saying you don't plan to spend your tax rebate check!
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Old 01-30-2008, 12:30 AM   #8
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*Gasp!* that's down right unamerican! Next, you'll be saying you don't plan to spend your tax rebate check!
To be honest, I haven't read much on that... but I don't think I qualify. However, if I did receive a stimulus check, I'd be stimulating my savings with it.
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Old 01-30-2008, 09:02 AM   #9
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Haha! Your tax dollars will bail out millionaire wall street types too. Suckers!
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Old 01-30-2008, 09:20 AM   #10
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Perhaps now is the time to revisit the history of the Great Depression. When we start seeing dramatic increases in unemployment, maybe the government will look into a modern day CCC (Civilian Conservation Corp). Instead of renewing the forests by planting trees, it will be utilized to repair the infrastructure such as reinforcing bridges and updating sewer/water systems. President Bush can name it the Brand New Deal. It seems that the answer does not always have to be spending more money to correct the ills of the economy. How about a little good old fashioned hard w*rk?(at least for those that are not successfully ERd).
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Old 01-30-2008, 09:20 AM   #11
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Haha! Your tax dollars will bail out millionaire wall street types too. Suckers!
Agree, that's what usually happens.

Where's Richard Simmons when we need him?

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Old 01-30-2008, 10:49 AM   #12
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Haha! Your tax dollars will bail out millionaire wall street types too. Suckers!
OK, I have to admit I got a good laugh out of that. Thanks brewer
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Old 01-30-2008, 11:46 AM   #13
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Oh great a "D"?....why don't you just through in Bird Flu too and make us 40 year olds who are already depressed, just more miserable....all kidding aside, I hate to say it but things look worse then what is being predicted....man what I'd give to be a fly in those meetings between the big wigs up in Capitol Hill.
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Old 01-30-2008, 12:18 PM   #14
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Perhaps now is the time to revisit the history of the Great Depression. When we start seeing dramatic increases in unemployment, maybe the government will look into a modern day CCC (Civilian Conservation Corp). Instead of renewing the forests by planting trees, it will be utilized to repair the infrastructure such as reinforcing bridges and updating sewer/water systems. President Bush can name it the Brand New Deal. It seems that the answer does not always have to be spending more money to correct the ills of the economy. How about a little good old fashioned hard w*rk?(at least for those that are not successfully ERd).
I remember my dad telling about the WPA from the 30's. He always called it Whistle, P!$$ and Argue. I even have some old garden tools with WPA stamped on the handles.

All us retired guys could supervise from the porch while we sip lemonade and chew tobacco.

Only three more miles to go guys.

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Old 01-30-2008, 12:25 PM   #15
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Fast forward 70 years and look at all the money that's been plowed into "Homeland Security". Does my county really need a $100k for a rescue vehicle and $250k for a command center? I think City Hall's incident room was sufficient. Pay some consultant $60k+/year to identify targets?

Ben B. is addin' more 'spike' to the punchbowl.

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Old 01-30-2008, 12:41 PM   #16
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All the candidates seem to support the "stimulus" package except for Huckabee who proposed using the money to build roads using American concrete, steel and workers. Unfortunately, most voters would rather take the check and hope the bridge survives the traffic jam on their way home from Best Buy with their new TV.
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Old 01-30-2008, 01:02 PM   #17
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All the candidates seem to support the "stimulus" package except for Huckabee who proposed using the money to build roads using American concrete, steel and workers. Unfortunately, most voters would rather take the check and hope the bridge survives the traffic jam on their way home from Best Buy with their new TV.
You know..... that is actually a very good observation. I think the biggest problem in the country today is just that sort of short sighted view that most people seem to take. Most want to know what can I get for me right now.... and I will worry about tomorrow later. A smarter approach would be to say.... "What can the govt do for me today.... so that I can make even more money in the future." The key part of that last statement being the word "I". As in I do not WANT a handout, but I do want more tools available for me to go out there and earn more for myself. Very similiar to the "give a man a fish" vs. "teach a man to fish" arguement.
Handouts tend to breed dependancy, whereas incentives help promote the DIY attitude of life. If the govt really wants to help everyone in the long term, they should pump all of that money into our education system. And make sure that kids leaving HS are fully conversant in 401k's, the mortgage process, investing, LBYM, etc. That would not help out in the immediate future.... but in the longer view, it certainly would. The economy of this country is not like the medical field. You cannot just pop a pill, and everything is all better....
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Old 01-30-2008, 01:29 PM   #18
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If my rebate check arrives in time, I'll be able to use it to pay my June estimated taxes. Talk about the circular flow of income. How about a circular flow of tax $? Will this stimulate the government to spend more?
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Old 01-30-2008, 01:46 PM   #19
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I don't think you'd get many takers for WPA enrollment. In the 1930s, the "safety net" was run by private charities and individuals (soup kitchens, inexpensive boarding houses, etc). Today poverty is big business and the "safety net" is, to many, a hammock. I can't see a huge wave of people signing up to swing a pick for 8 hours. Anyway, what's the modern equivalent of WPA work today? Maybe huge call centers where WPA workers try to sell pencils to wealthy Europeans?

Hey--we need clean energy, right? How about these guys building low-tech wind turbines? (Or, running on a treadmill making power directly)
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Old 01-30-2008, 02:04 PM   #20
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If my rebate check arrives in time, I'll be able to use it to pay my June estimated taxes. Talk about the circular flow of income. How about a circular flow of tax $? Will this stimulate the government to spend more?

I'm not getting a check... unless the Senate get's there way and gives it to everybody.... another thing I get screw@d on....
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