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So why is it that American banks are willing to take the money but, unlike their Chinese counterparts, are not "following government orders and flooding the country with loans?" Particularly when there is empirical evidence that it's been a viable plan elsewhere? I don't have a dog in the fight...I'm just another American trying to make sense of it all.
There is no sense to it. The banks gambled and lost and we had to bail them out. They are now hoarding the money the government gave them and using themselves. Maybe they are trading with it after all these are the "investment" banks that got the money. Speculation can yield big rewards you know.
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Evidence that economic advisers who advocated our own stimulus package
might have been correct. No doubt some will disagree, but if it worked for
China, it just may work for us as well. Most of us would give a huge sigh of
relief.
Good lord..read some history..FDR tried numerous stim. packages..none worked.....only WW2 saved us!
Stim is a failure....just more debt..wait till it has to be paid back..then your really going to see a econ break down!
I swear lib/Dem are insane....even with history against you..you still bang your heads against the same wall.
Look a Japan..how many stim packages and nothing...
In that case you must believe that the stimulus needed to be 7 times larger (cost of ww2 in today's dollars).
For some reason people still want to spend more money when in fact this stimulus was wrong from the start and the money was totally misspent on things that did not create jobs at all.
snippet:
"China’s passenger-vehicle sales rose 48 percent in June, the biggest jump since February 2006, as government stimulus spending spurred a revival in the world’s third-largest economy.
..
A 4 trillion yuan ($585 billion) economic package has helped China surpass the U.S. as the world’s largest auto market this year.."
A stimulus spent right may work as evidenced by China.
This is good because China does not make cars. They buy them from us.
This is good because China does not make cars. They buy them from us.
A few Chinese automakers
Chery, Geely, BYD, Great Wall
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