Anybody who doesn't see just how low this debt-ridden country has sunk? "Here's some money...please run out and spend it" Where will 90% of this tax rebate money coming from a nine TRILLION $$ deficit go? To China of course. Bailouts for Bear Stearns, possible mortgage bailouts for the idiots...this is an economy on the edge of collapse. Millions are upside-down on their oversized McMansions, owe big $$'s on SUVs, and live on Mastercard. Up until recently the morons could use their homes for ATMs...yep, drive the big gas-guzzler to Starbucks and get a $5 latte every morning. They didn't have to WORK for their money thanks to Greenspan, so we became "What me Worry?" America.
Inflation is soaring but Bennie will likely appease his Wall Street masters again with a rate cut. It won't do a thing to fix this mess. The Bux will close 25% of their overbuilt stores within a year and thousands of retailers will go under. One big f***ing reckless spending party, encouraged by the Fed and the government. Our new service economy doesn't work...no way; it will take Trillions of $$'s more debt to stall the collapse. America has been bled dry by the big mutlinational corporations and by the Fed. Nothing left here but millions of illiterate Mexicans..time to move on like locust. The Dow has gone DOWN for the last 8 years when you include soaring inflation.
So, let see if the fools will take their rebate checks and walk to Starbucks after the repo man takes the SUVs away. ROFLMAO.
max said > "Anybody who doesn't see just how low this debt-ridden country has sunk? 'Here's some money...please run out and spend it' "
Retailers will have their prices jacked up nicely to coincide with the arrival of this monopoly money, and their prices will remain up after the money is gone. Hello inflation!
Worst of all, look for us to find out next year (when politicians are not so immediately beholden to taxpayers for votes) that this "rebate" was actually an early loan to be repaid in the next tax cycle.