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Economists: Stimulus Didn't Help Economy

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posted on Apr, 27 2010 @ 07:56 AM
Well this is not surprise at all, we all knew about the "economic stimulus blunder" that has cost the tax payer so much money, helping only the Wal-street while main street keeps struggling.

While the government survey on the stimulus results shows a positive outlook for recovery, independent surveys tells a different story

For the first time in the past two years, the survey found that job creation increased. Twenty-two percent of businesses said that they were adding jobs, up from just 13 percent who said the same in the January survey. Thirty-seven percent of respondents said that they expected their firms to increase payrolls over the next six months.

At the same time, businesses are also cutting less jobs. Just 13 percent of respondents said that their firms were cutting payrolls, down from the 28 percent that were cutting jobs in January.

Now if you are unemployed or about to lose your job wish survey will you believe in.

But very few of those surveyed believe that the federal government’s actions have much to do with job creation. The survey found that 73 percent of those surveyed said that the $787 billion stimulus package has had no effect on employment at their firms to date. The administration has touted the stimulus package as an engine of job creation. According to the administration, the stimulus package is set to create or save 3.5 million jobs by the end of the year.

Nearly as many respondents - 68 percent - believe that the recently passed $15 billion jobs bill will have little to no impact on employment. Thirty percent of respondents said that the jobs bill allowed their firms to boost hiring at least moderately.

“Little of the improvement to date in job growth can be attributed to the stimulus bill enacted in February 2009. Capital spending remained steady.

posted on Apr, 27 2010 @ 08:28 AM
Okay marg, I am going to link a thread that has a link to an article about how the financiers may attempt to "fix" the problem.

I am warning you, you will not be very happy after reading it.

Here is the thread-Cap-N-Trade is already being bugeted for in Congress

As for your OP, well according to all the MSM the economy is on the rise. Also the Obama and government apologists the stimulus was never meant to create a stimulus, it was meant to stop us from going into a depression.

Of course the apologist forgot to mention that IT DID NOT WORK. A depression is defined as 4 straight quarters of declining GDP. Well guess what, without the stimulus (dumping huge amounts of fiat currency) being instituted we would have had a decline of about 6% decline in the 4th quarter. They dumped in the equivalent of 10% increase in GDP 4th quarter, hence the increase of 4% GDP.

The propagandists are going full steam ahead.

I find it ironic that they keep pointing to the stock market.

Has anyone else wondered where all the stimulus and other funds have been infused into the economy? You know, the monetizing of the debt?

I think they are using the stock market as their infusion vehicle for the monetizing. I think they are using the big banks and financiers like Morgan and Goldman Sachs to dump the monetized debt into the economy, by buying up all the stock to keep the people of the US of A unaware of the problem.

I think the cliff edge has not been moved further down the road. I think we are already off the cliff and we are sailing through the air right now. I think the cliff is wayyyyyyy behind us and that valley floor is fast approaching.

Lots of postulation here, but what is happening kind of points to exactly what I am saying.

posted on Apr, 27 2010 @ 08:39 AM
The breakdown of a ceiling on the Dow Jones can be a harbinger of doom. Are we moving into a suckers' rally, when the bubble will inflate just before bursting? There are indications that worry people.

Tom McClellan of MCOscillator writes about a fund group whose in- and outflows are easy to track, Rydex. Unlike most mutual funds, this firm lets its investors trade day to day and tracks their moves. Tom notes that the Rydex Money Market Fund is below $1 bn in assets for the first time since Feb. 2001, and that its 1.5x leveraged Nova Fund is at its highest level since before Lehman Brothers went down the tubes in Sept. 2008.

Tom explains that even in a period with declining money supply (like now), you can get stock market excessive rises if more of the restricted money supply moves into stocks. He cited Friday's buying frenzy as a symptom of unusual motivation to buy shares, because typically, the end of the week sees fear rather than greed predominate.

There are other indicators of excess bullishness as well. EPFR, a Cambridge, MA fund tracker, reports that emerging market equities inflows have reached a 24-week high in the 1st week of April. Michael Kurtz from Macquarie (a brokerage) notes that the big change in emerging market investing was the return of China destination stock buying. But why did China rebound? From the “sheer exhaustion of selling pressure”, Kurtz concludes. “The FY 2009 earnings season has not ben robust enough to restart the upgrade cycle” he remarks. He feels there was a shortage of strong forward guidance from reporting companies, a lack of earnings growth visibility, and most worryingly, a lack of dividend increases.

Kurtz's caution contrasts with Robert Hsu's latest e-mail blast to garner subscribers for his China Strategy newsletter. Writing about a China IT company, Hsu says to “back up the truck” to buy this stock which he calls also “a super-strong buy”.

Six months ago, everyone said this was a "sucker's rally"--and cackled at anyone stupid enough to buy into it.

But it's not a sucker's rally anymore!

Now, CNBC is calling the current market rally the "Rodney Dangerfield Rally," because no one is respecting its legitimacy and everyone is looking for a way out.

Like Rodney, this rally ain't getting "no respect."

Or is it investors can see the strain on this latest about to burst bubble?

posted on Apr, 27 2010 @ 08:41 AM
My dear, I knew about the increase in taxes after the HCR will come in some way and name starting next year.

People still doesn't get it, taxes are coming our way and we are just going to bend over and take like we have done so far.

Still is only one loser on the whole scam and that is the tax payer in the nation.

Taxes as many had found out this tax year has gotten up, for those in the poverty level that doesn't pay any taxes they don't see how much, but they saw the cuts on the stimulus.

But for those that makes a decent living we all seen how much more we pay over this year.

All at the state level, Federal just cut on benefits and stimulus.

I told my husband that if things get that bad and we are seen our income been eroded by more taxes I have not problem with getting rid of our littler possessions move to a use mobile home in a piece of land and live on retirement money.

Because very soon is not going to be worth to work and make more than those in poverty level.

All this taxes are going to erode more the worthy working class surviving in the nation.

posted on Apr, 27 2010 @ 08:44 AM
reply to post by DaddyBare

It doesn't take a genius to see the manipulation in the Markets this done to suck up those inexperience investors into thinking that things are getting better.

Even the rest of the financial world outside the US knows the manipulations in the US markets.

I read an article in that same issue a month ago and posted a link in the Market data thread.

posted on Apr, 27 2010 @ 08:50 AM
Oh well. It was only a little over $800 billion.

I know -- here's a great idea -- let's give them another trillion dollars for healthcare reform since they claim that will save us trillions of dollars and fix the deficit. Everybody cross your fingers and hope this trillion in spending will be the trillion that really rights the economy...

Oh, the CBO has already determined that healthcare reform won't reduce the deficit....?

Oh well. It was only a little over $1 trillion.

Next plan.......

posted on Apr, 27 2010 @ 08:56 AM
reply to post by marg6043

Well, I was talking more about the article the OP had in the thread. It was not really backing the contention of the OP's topic. It was more on how the unsustainability of the debt is much more serious now then has been mentioned.

Here is the article I am talking about-

America's Impending Master Class Dictatorship

A snippet-

According to the Federal Reserve’s most recent report on wealth, America’s private net worth was $53.4 trillion as of September, 2009. But at the same time, America’s debt and unfunded liabilities totaled at least $120,000,000,000,000.00 ($120 trillion), or 225% of the citizens’ net worth. Even if the government expropriated every dollar of private wealth in the nation, it would still have a deficit of $66,600,000,000,000.00 ($66.6 trillion), equal to $214,286.00 for every man, woman and child in America and roughly 500% of GDP. If the government does not directly seize the nation’s private wealth, then it will require $389,610 from each and every citizen to balance the country’s books. State, county and municipal debts and deficits are additional, already elephantine in many states (e.g., California, Illinois, New Jersey and New York) and growing at an alarming rate nationwide. In addition to the federal government, dozens of states are already bankrupt and sinking deeper into the morass every day.

posted on Apr, 27 2010 @ 08:58 AM
reply to post by lpowell0627

Many that followed the HCR like I did we figure that one out a long time ago.

Is not way that making the Medicaid the biggest insurer for the poor will reduce the deficit at all, actually this is going to turn into another bad investment for the tax payer and Medicaid will become the next growing leach sucking the tax payer dry, add more taxes to the working class making a meaningful living and all you going to get is a bankrupted tax payer and a nation to follow.

[edit on 27-4-2010 by marg6043]

posted on Apr, 27 2010 @ 09:00 AM
reply to post by endisnighe

Yes I read that article also, we know what is coming down the line my friend, is just that I feel we have not choice in the matter. . .

posted on Apr, 27 2010 @ 11:02 AM
reply to post by endisnighe

That's tooooo funny "I think the cliff edge has not been moved further down the road. I think we are already off the cliff and we are sailing through the air right now. I think the cliff is wayyyyyyy behind us and that valley floor is fast approaching. " I've been saying the same thing for the last 2 years, that money never trickled down, as they promised it was paid to the super rich to recoup their losses.

just look at the top benefactors to see how many jobs it saved, answer ..... NONE

America needs to wake up from the American dream and fix it so there is some reality for the children.

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