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The Stimulus Explained
Amidst the dire predictions of imminent catastrophe if Obama’s stimulus package were not passed by the Congress, and equally dismal prophecies of how the stimulus will extend what is looking like a doozy of a depression, there has been a near-complete failure on the media’s part to explain the core principles behind the fiscal stimulus to the American people. This is due to the near-complete ignorance of economics on the part of the mainstream media; one can hardly expect them to explain what they do not understand.
The real problem, however, is that the Keynesian model is simply…
2009 Inauguration: Obama’s Stimulus Package To Take Center Stage
The following in an article from Money Morning which focuses on Barack Obama’s plan to lift the U.S. out of recession in the midst of continual debate as to the appropriate approach and proper allocation of federal monies in solving our economic problems. Don’t forget to post a response at the bottom of this article!
President-elect Barack Obama said Saturday that an analysis of his stimulus proposal found that the capital infusion could save or create as many as 4 million U.S. jobs by 2010, nearly 90% of them in the private sector. Obama previously estimated that his estimated $800 billion…
12Jan2009 | Money Morning | 0 comments | ContinuedChina announces more stimulus
The nation’s economic stimulus measures will go beyond the announced 4-trillion-yuan package as more industry-specific policies are rolled out, Premier Wen Jiabao said on Friday.
The government is refining and augmenting the package, because it was "rather preliminary" when announced on Nov 9, he said.
According to the central economic work conference held last month, rural consumption and spending on housing, cars, services and tourism would be the focus of efforts to boost domestic consumption.
My comment: With China spending more money in China that will not allow for investment in US Treasury securities. The lower trade surplus with the US…
5Jan2009 | The Real Deal | 0 comments | ContinuedThe One Global Market Where There are Gains Behind the Gloom
It’s easy to be gloomy when it comes to the financial markets.
It’s even easier to write off China.
After all, the Red Dragon’s markets have collapsed by 70%, businesses are shutting down, lead-laced toys and poisoned medicines have tainted the minds of Western consumers, there’s a growing gap between the rich and the poor, inflationary clouds seem to be gathering, and verbuilding is a growing concern.
And that’s just a partial list.
Story continues below…
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The situation has gotten bad enough that China’s economic growth…
21Nov2008 | Money Morning | 0 comments | ContinuedMassive China Stimulus is Viewed as an Attempt to Help the West
The half-trillion-dollar stimulus package that China unveiled on Sunday underscores that country’s growing importance to the global economy and shows Beijing’s willingness to assume a leadership role in the battle to blunt a widening worldwide financial crisis, a top expert on China said yesterday (Monday).
“China understands that it’s gaining importance in the world economy and that it’s going to participate in that process,” said Keith Fitz-Gerald, Money Morning’s investment director and a former professional trade advisor who’s spent more than two decades focusing on investment opportunities in China, Japan and the rest of the Asia region.
“Many experts will see this…
11Nov2008 | Money Morning | Comments Off | ContinuedBernanke’s Stimulus Support Sends U.S. Stocks Soaring
U.S. markets soared yesterday (Monday) after U.S. Federal Reserve Chairman Ben S. Bernanke endorsed another domestic stimulus package, sending the Dow Jones Industrial Average to its first close above 9,000 in four consecutive trading sessions.
At the close in New York, the blue-chip Dow had gained 413.21 points (4.67%) to close at 9,265.43. The tech-laden Nasdaq Composite Index jumped 58.74 points (3.43%) to close at 1,770.03. And the broader-based S&P 500 Index racked up a 44.85-point (4.77%) gain to close at 985.40.
In testimony before the House Budget Committee yesterday, Bernanke said that due to the poor economic outlook, additional government assistance could be…
21Oct2008 | Money Morning | Comments Off | ContinuedGlobal Investing Roundups
Mitsubishi Seeks CA Bank; Bargain Hunters Boost TJX; BP Takes Precautions in Georgia; LDK Shines in Second Quarter; Trade Deficit Shrinks on Record Exports; Budget Deficit Triples its Record; Freddie and Fannie Lobby Uncle Sam; Things Get Worse for Wachovia
Mitsubishi UFJ Financial Group Inc. (ADR: MTU) offered UnionBanCal Corp. (UB) $63 per share for the remaining 35% stake that Mitsubishi does not already own. San Francisco-based UnionBanCal, which earlier rejected a $58-per-share offer from Tokyo-based Mitsubishi, have yet to respond to the sweetened bid, The Los Angeles Times reported.
The TJX Cos. Inc. (TJX), the owner of discount-clothing retailers T.J. Maxx…
13Aug2008 | Money Morning | Comments Off | ContinuedEconomy Enters Dangerous Waters as Job Losses Mount in June
Payrolls tumbled for the sixth consecutive month in June, bringing the total number of job losses in the first half of the year to 438,000.
Such a steep drop in employment could easily cause consumer spending to falter in the months ahead and drag the economy into a recession.
After shedding 62,000 jobs in May, U.S. employers slashed another 62,000 jobs in June, the Labor Department said last week. Builders reduced payrolls by 43,000 after cutting 37,000 employees in May. Financial firms cut 10,000 jobs in June after losing 3,000 the month prior. And factory payrolls dropped by 33,000 after…
7Jul2008 | Money Morning | Comments Off | ContinuedWall Street – Stop Whining for Rate Cuts!
I don’t know about you, but the Wall Street whining has got to stop. They continually beg for interest rate cuts only to punish the market when the Federal Reserve Chairman, Ben Bernanke, finally taps out and gives into their demands.
What’s worse is that expectations for another cut are just around the corner. I know I’ve said this a million times, but we are on an unsustainable path here. Cheap credit is what got us into this subprime mess in the first place. Handing out a quick fix stimulus package is not going to solve our problems either.
So,…
29Jan2008 | S. Oakes | Comments Off | Continued
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