PatriotsReign

The House plans to vote on a new economic stimulus act...the second in 8 months. This one is marked for $50billion...blah, blah, blah Some may think "good" but it only confirms that we are indeed in a recession.

U.S. House plans vote on $50 bln to stimulate economy

WASHINGTON—The House plans to debate legislation this month to inject another $50 billion of stimulus into the faltering U.S. economy, mostly with the goal of creating new jobs, a senior House Democratic aide said Monday.

Amid fears of wider economic damage from turmoil on Wall Street, the roughly $50 billion would aim to spark needed road, bridge and other construction projects that help create jobs, with details still being worked out, the aide said.

The money also would be used to help low-income families pay winter heating bills and to extend unemployment benefits.

U.S. House plans vote on $50 bln to stimulate economy - Boston.com

STFarmy

Throwing money we don't have at problems that can't be fixed that way; it's the new American way!

Michael

Naa, it's the old American way.

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PatriotsReign

One thing is for certain, no matter how much money is spent to "fix" the economy, it won't work. The ONLY road to a healthy economy is let it take it's course through the natural laws of free-market economics.

BelichickFan

The financial mess isn't due to a recession - however it may cause one. A recession has not been confirmed, nor is the current mess in the stock market proof of such. Might a recession result due to this ? Yes. But it hasn't been confirmed by any stretch of your imagination.

MrSparkle

I agree. While I don't know much I do know that if they keep propping up the economy falsely it will just take that much longer to heal.

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Science without religion is lame. Religion without science is blind. - Albert Einstein

When once a republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil. - Thomas Jefferson

PatriotsReign

BC...I'm not going by my imagination. I'm just saying what world renowned economists have been saying for months...we ARE in a recession. As you know, it typically takes about a year for recessions to be "officially" declared.

But if you do a search on ecnomists opinions, the VAST majority say we are already in one. One of the most respected economists in the country, Nouriel Roubini predicted our current "recession". He is being lauded every where now and is one of the most highly sought after speakers on economic trends in the world.

Read about him here in this August interview with Barrons;

Expert Interview: Barron's and Roubini

BelichickFan

You may be right. But quit saying "confirmed" when it hasn't been confirmed. In fact it's not close to being confirmed as U.S. growth continues and a receding economy (hence the name recession) is required.

Real World

Someone tell PR what the definition of confirmed is.

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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
Leo Tolstoy, 1897

PatriotsReign

My point FELLAS...is that our government has spent more money trying to fix our economy than was spent trying to correct the Great Depression or any other recession in history. To consider this a pesky little "correction" is fool hardy at best.

Just keep watching as the months pass by and things don't change economically speaking. When all is said and done, it will be declared that the recession of 2008-? began in January 2008.

Hey, here's an idea....call someone who works on Wall Street and ask them if we're in a recession!

Wall Street Firm; "I'm sorry sir, but Mr so&so no longer works here"