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I am going to convert most of my savings to things of real value this year. No sense to save money that has no value. Bernake wants hyperinflation, and I am going to put those dollars to help me move, improve my location, or stock up with commodities. My plan is to go into survival mode. Any tax refund will be spent as soon as I get it.
Location: Huntersville/Charlotte, NC and Washington, DC
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Quote:
Originally Posted by tallrick
I am going to convert most of my savings to things of real value this year. No sense to save money that has no value. Bernake wants hyperinflation, and I am going to put those dollars to help me move, improve my location, or stock up with commodities. My plan is to go into survival mode. Any tax refund will be spent as soon as I get it.
could i interest you in some crude oil? The one thing everyone wants. Hurricane Katrina's little sister Tamika comes to the Gulf and you are a trillioniare. ba-da-bing!!!!!!
This kind of bailout has no long effect. Band aid. Political. Really a bad idea because it borrows from ourselves. If I get a check, first I will see if it is taxable income, then if I have any debts I will pay against it. Alanboy, I am waiting for the next hurricane......Katrina in Mississippi? folks were filling 55 gallon containers with gas. Yep, good investment.
Eliminating the 10 percent income tax bracket won't stimulate the economy much.
20 percent of the taxpayers don't pay income taxes. Another 25 percent max out in the 10 percent income tax bracket. A good one-third of the public will probably receive no rebate to spend.
Nearly 50 percent of the taxpayers max out in 15 and 25 percent tax brackets. They would be the biggest beneficiaries.
First we get the Bush spin that the economy is fine albeit with a few bumps in the road...subprime mess will not effect growth etc...The Fed initially says the mess will not substantially effect the broader economy, exports are up(due to the crummy $$) etc. More bad data...more stumbling...more assurances...more ahhhhs. No one knows how bad the mess is, no one.
I'm betting the bailouts and the fixes will end up doing more damage to the economy than if we just stood back and let the chips fall and clean up the mess afterwards.
American is in debt at the personal, state, and federal levels
The dollar is in a freefall
Gas prices have Doubled since the Iraq War began
All of those are facts, (well except that debt at the state level is high, by law they have to have balanced budgets).. What does it have to do with a stimulus package?
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