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White house and Fed scramble to launch economic stimulus plan

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posted on Jan, 19 2008 @ 09:30 AM
perhaps the president & secretary Paulson are pushing for this rapid
'emergency' stimulus package because there's a much bigger problem
about to be made known...

It seems that 'external auditors' are coming up with much larger Loss figures of the major financial houses and banks than the early, but still sizeable, writedowns and losses that the banks and lenders have
already admitted.

Press Release:

external auditors are hinting the losses are more like $3 Trillion and not
the guestimated $500-950 Billion range, we are being spoon fed....

which brings to mind; last year there was begun a rule provision that
company auditors or even (outside) paid for auditors and the CEOs are required to 'sign-off' on their accounting statistics...

and if the false, fraudulent, under reported losses are too flaggerent then the auditors and CEOs of these major financial banks & lenders...
who signed-off the deliberately falisified accounting numbers are subject to jail time....

Could the Boards of; Citigroup, Murrell Lynch, Bear Sterns and many other high flyer financial houses be in cahoots in under reporting their credit-crunch and mortgage paper losses =>
and be put on trial in the near future??

and thats why the sudden scurrying around to deliver a Fast stimulus package of tax cuts and $800 checks to citizens ??

ADD: i think i see a reason as to why BoA just bought up the 'CountryWide' mortgage lender...

[edit on 19-1-2008 by St Udio]

posted on Jan, 19 2008 @ 09:59 AM
I love that post Udio, then we most question why all the big CEOs from the financial institutions are bailing out and resigning from their post.

Also find very sad hat nobody has been held accountable for this economy mess.

[edit on 19-1-2008 by marg6043]

posted on Jan, 19 2008 @ 10:43 AM
It will boost inflation and make larger huge budget deficit. Larger budget deficit => more money to be borrowed [and I didn’t even mention inflation

Originally posted by stumason
Won't this just boost inflation further AND further depreciate the value of the dollar? I mean, you can't just give everyone free money without affecting the economy. You might get spending boosted, but things will just cost more with the increase in money supply created by this "injection".

It's the same flawed policy that the central banks are following with the capital injections to the banking sector. By increasing the money supply, you increase inflation and devalue your currency.


Originally posted by cpdaman
Gulf country's re-investing in U.S assets leads to trading oil in $, and as

long as that continues inflation will not become "hyper".

Actually, they use both ways via debts to buy US assets and invest in now almost collapsed financial sector.
Sometimes in the past in 80s when Japanese tried that it was hysteria about it as US national interests were threaten, wasn’t it?

Originally posted by cpdaman
I think the oil and food inflations are a supply and demand problem, note

food prices are rising faster (or they had been) in many other country's

outside of the $.

And you are wrong
. Supply and demand have some influence [mostly short term], but $ is the major cause. I explained it several times.

Originally posted by cpdaman
any potential hyperinflation and deflation will be IMO based on political decisions

No, it won’t.

Originally posted by cpdaman
the biggest questions i have is will their be a war, who would profit from such a war (big oil? big banks?)

Depends from what kind of war?

Originally posted by marg6043
Iloe that post Udio, then we most question why all the big CEOs from the financial institutions are bailing out and resigning from their post.

Also find very sad hat nobody has been held accountable for this economy mess.

Blame ‘Sir’ Alan! He started it and Bernanke will finish it.

posted on Jan, 19 2008 @ 01:16 PM
This sounds like one last dying breath from the government.

It is quite unlike the current administration to pay much attention to the workings of their own economy.
Seems like they are pressed pretty hard against the wall to have to do something like this.

However, the current ideas on how to handle this seem to be riddled with holes.
I cannot see the plan doing much more than simply alarming the people enough to cause far more damage than the injection of funds would cover.

If they're intelligent, they know this, and thats pretty scary. It means they want the economy to crash.
If they're incompetent enough to think this will work, then they really need to be removed from office IMMEDIATELY to allow someone competent to attempt reparations.

Ah, I see it now. They want to delay the economic crash to a date when another party is in office. Seems the whole thing is written to delay the crash to that point, and ensure the next administration has no way to cover the cost of the damages.

That's quite the disgusting political game their playing.
Screw things up enough, so when the democrats get in, they have no hope of fixing the economy. Once the recession is nearly over, the public elects the Republicans back in.

Thats freaking sick headed.

[edit on 19-1-2008 by johnsky]

posted on Jan, 19 2008 @ 01:39 PM
reply to post by johnsky

Exactly, I agree with you 100% it doesn't take much to figure out the morons we have in the white house.

Is all about politics while they plan how to make the economy look good amid a recession so the take over by the next Political party looks good for the one steeping down.

Boost the numbers prior to elections and then delay the next quarter numbers after that and Bush will leave the nation looking mighty good after bankrupting us with his trillion dollar wars.

What is going on in our nation right now is nothing far from treason.

But our capitalistic government already made plans to take care of he insurrection if ever comes to pass.

posted on Jan, 20 2008 @ 02:02 AM
Today for 1 measly oz. of gold you can buy 10 barrels of oil. gold approx 900 an oz. and oil around 90/barrel.

jovjoda you may want to read the book seeds of destruction by Engdahl and also become a little more humble

you know less than you think about the causes of food inflationary pressures. The ethanol experiment caused a lower supply of corn, so thus prices for foods with corn as an ingredient also went up.

also biofuels demand has caused the prices for corn and other grains to increase, which farmers in Europe, America,etc use to feed their cows has been a large contributor to to increases in the price of milk world wide.

China, which does not pay for it's bills in dollars has higher food inflation that the united states this year, mainly due to a shortage in demand for pork, and they keep their yuan so cheap that the food they import tends to cost more.

also you must have more insight that Dennis Kunich's economist Michael hudson who thinks deflation Vs. hyperinflation is a political decision, or would you care to give some insight? ( i like discussion and difference in opinion) but what are your thoughts?

and i can't be the only one who thinks it is worrisome that the environmental arm of the elite (the club of rome) and their rockefeller funded study's on population reduction and stemming it aggressively, also has rockefeller funding with monsanto and the 3 other american based argircultural GMO giants gaining a world monopoly on food seeds that are genetically engineered as well as programmed to not reproduce so farmers are dependent on the agricultural giants. Looks like Global warming will provide the cover for any possible food shortages.

" You control oil and you control the country, control food and you control the population" - Henry Kissinger

Just as Kissinger chums the Rockafellar's did a century ago with controlling Oil strategically , this century it shall be food, and likely part of the Project for a New american Century. Too bad the ratio of elite wealthy individuals to poor debt slave's in america) in the new decades will better resemble a 3'rd world country, as the middle class shrinks thanks to rising unemployment and higher living expenses.

[edit on 20-1-2008 by cpdaman]

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