How bad will the recession get???

[murray t turtle]

Quote from AlpineTrout:

Sure, it's how fast money changes hands. This so called stimulas package won't even hit the streets in large part until 2010 - 2011 in typical slow-mo government fashion.

I like the idea one congressman had. Immediately give everyone a one year income tax vacation. Now thats velocity of money!

=======================
Excellant idea, tax free jubilee year And President Barack mentioned[to Maria B of CNBC] Ronald Reagan tax rates[tax cuts] We will see.

Me thinks some are too negative, not every co is as badly run as Citigroup. Too bad they thought mistakenly they were going to buy a $53 million dollar jet with taxpayers funds-LOL.
Well ,live & learn.

Dont agree with increasing the unemployment insurance;
but that is some high speed money.Besides if that becomes the law of the land; may help gold,black gold, grains,silver, wartime steel pennys.

It could get real bad for Citiigroup, citigroup types;
they wasted $5 million on gov campaign contributions.And Morgan Stanley has never changed calling Citigroup ''short idea.......''

Community/local banks are much better run;
hope one doesnt foul thier nest by a takeover or ''C'' buy.

 

[stock_trad3r]

markets up again? This recession so painfiul. Google apple keep rising..plz make the pain stop. I have no credit and no liquidity.

 

[Anaconda]

Quote from jueco2005:


1- It won’t be worse than the great depression because there has not been a contraction in the money supply like it happened in the 1930's.

It will be worse, because most of the money supply is cut off from the people. Meanwhile, inflation will take its course.

During the 1930s, Americans had savings, low leverage and knew how to survive. They had self substinence skills.

Nowdays, few have savings, most are overleveraged and have no practical skills whatsoever.

Don't be surprised to see people dying of starvation as a common occurence.

 

[gnome]

Quote from AlpineTrout:

"... Announce the FairTax tomorrow, and the do'ers of America will go spastic trying to come up with new plans to create and expand.

I doubt the Federal politicos are concerned about "anything fair" nor "The Fair Tax".

They already have the perfect system for themselves.

1. Charge everything to the tax payer with no accountability.

2. The ones who pay the bill don't really have a vote... too few of us.

3. The ones who don't pay the bill are in the majority and can be pandered to for re-election.

Why would they want to change anything? (Other than for "appearances sake", of course.)

Things are the way they are because politicos WANT THEM THAT WAY... and we as a citizenry are too politically and economically naive to vote them out.

 

[MattF]

Quote from Covertibility:

Check it out before they remove it, from the NRCC

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What recession? The Bush Boom is alive and well. Long live El Presidente.

Meanwhile, market expects Q4 GDP -5.5%.

Apparently I can't even get around with having to donate first

 

[jueco2005]

High taxes are only a little part of the problem. Companies go to where opportunity is. We cant have opportunity in a country full of mergers, acquisitions and creative destruction, or better called "derivatives".

The era of "Monopolization".

Quote from AlpineTrout:

I know this is beating a dead horse, but what this country really needs is a long term plan, and that plan has already been researched. Its the FairTax.

Our current tax plan punishes achievers. If you want to see massive growth through American entrepreneurial spirit, let a man, as well as companies keep all of their earned money. Companies from all over the world would want to set up shop here, THIS YEAR. It's estimated that there's $13 trillion operating overseas, because of United States corporate taxes.

Announce the FairTax tomorrow, and the do'ers of America will go spastic trying to come up with new plans to create and expand.

 

[AlpineTrout]

Quote from jueco2005:

High taxes are only a little part of the problem. Companies go to where opportunity is. We cant have opportunity in a country full of mergers, acquisitions and creative destruction, or better called "derivatives".

The era of "Monopolization".

One step at a time. First we get rid of this 60,000 page abomination of a tax code and put the power of taxation into our own hands. Then we go from there. Keep it simple.

Opportunity? The U.S. has one of the highest corporate tax rates in the world. Reduce that to zero with the FairTax and we'll see who wants to set up shop here, regardless of mergers, acquistions, etc.

We're continually squeezing the tax base to less and less people. With a consumption tax, even illegals and millions of visitors every year will pay into the system.

 

[AlpineTrout]

Quote from gnome:

I doubt the Federal politicos are concerned about "anything fair" nor "The Fair Tax".

They already have the perfect system for themselves.

1. Charge everything to the tax payer with no accountability.

2. The ones who pay the bill don't really have a vote... too few of us.

3. The ones who don't pay the bill are in the majority and can be pandered to for re-election.

Why would they want to change anything? (Other than for "appearances sake", of course.)

Things are the way they are because politicos WANT THEM THAT WAY... and we as a citizenry are too politically and economically naive to vote them out.

Unfortunately, you're right. The only way I know of to get the Fairtax passed, is to shove it into the face of the people that represent you and require them to get on board, or they lose your vote next time around.

 

[jd7419]

Quote from AlpineTrout:

One step at a time. First we get rid of this 60,000 page abomination of a tax code and put the power of taxation into our own hands. Then we go from there. Keep it simple.

Opportunity? The U.S. has one of the highest corporate tax rates in the world. Reduce that to zero with the FairTax and we'll see who wants to set up shop here, regardless of mergers, acquistions, etc.

We're continually squeezing the tax base to less and less people. With a consumption tax, even illegals and millions of visitors every year will pay into the system.

You make alot of sense. This means most of ET will disagree with you. I can't believe the amount of "trading" liberals on this board.

 

[swtrader]

this actually has the chance to be far worse than the great depression

back then, workers could have the jobs that existed, in a great land, still unspoiled with little debt

today, there's outsourcing, massive immigration and incredible debt

USA leaving 1st world status forever is a real possibility

not much question society has been declining for decades, held up with borrowing