Sunday, December 27, 2009, 7:13AM ET - U.S. Markets Closed.
In the wake of Vice President Biden's weekend admission the White House "misread" the economy, a logical question arises: Was this just another gaffe from the famously loose-lipped politician, or a signal of a second stimulus package in the works?
Most likely the former, says Jon Najarian, co-founder of OptionMonster.com, who lauds Biden for his candor, something that's missing from most politicians.
But the Obama administration doesn't need to ask for more money, considering the amount that's already been pledged for programs like PPIP, which appears dead on arrival. For the record, the White House says any discussion of a second stimulus package is "premature at this point," The WSJ reports.
Furthermore, the administration would be better off accelerating some of the spending in its original $787 billion stimulus package, which has been criticized for its lack of up-front spending on actual infrastructure.
"There is plenty of money out there they could put to work without asking for more money," Najarian says. "They could just accelerate what they've got and I think it gets you to the same place."
Of course, politics being what they are, you can't rule out the possibility of the Administration asking for a second stimulus this year to help spur the economy, something the AFL-CIO is already advocating for. "The market would not react well [to that]," Najarian says, reiterating he'd be "very surprised" if Obama "goes back to the piggybank one more time."
why go back "to the piggybank"....just print more, give it to "the big banks/buddies" at 0%, let them give it to "the other buddies" and tax the middle class with inflation....simple...(almost) everybody wins....and by "everybody" I mean EVERYBODY IN THE CLUB....GO GOLDMAN!!!!......xxoo
Until we get back to supply side economics, capital gains tax cuts, and cut government, the market is going down.
What do we expect from Dumb and Dumber. Obama - the first and the worst.
I have no faith in government to run a lemonade stand. Oct. 2007 Dow 14,000, July 2009 8,200. That money isn't coming back for years. Now to tax the american people to death for the good of Obama nobel ideas. Government contol of industry, finance and health. Insure everybody but take away Social Securtiy for retiring boomers. Just grab what you can and don't worry about the consequences. My only comfort is that the under 30 know it all's will be taxed, and have a lower standard of living. Let them pay.
Biden is nothing more than a lying, K-street Wh_re.....He epitomizes the average DC politician Rep or Dem....."lauds Biden for his candor" what a suck-up.
Without consumer spending and investment, government stimulus is the only way to prop up GDP. In Texas the comptroller is supposedly tracking stimulus money in a way that gives us transparency. So far all we have is the original website and charts showing where the money is supposed to go. I suspect this is true of most states. Nothing about actual expenditures on the most important area of job generating projects. So I agree with this guy especially in the area of construction build out projects that we need to accelerate the pace before we add more stimulus.
Supply-side economics sure worked well with President W. Bush. We went from a Clinton surplus to record deficits. ---------------------------------------------------------------------Personally I don't see any difference between the two parties, both are fiscally irresponsible and just pandering to get voters. Remember last Sept '08 when Pelosi / Bush / Paulson all passed the WALL ST. bailout. (Bush gave up free-market principles to save the free-market, go figure).
Was the blog about the Russian stealing Goldman's so called 'trading formula' withdrawn? Did any of you guys read it?
Johnny...I appreciate the glass half full sentiment, but seriously - the time for that is over. Obama/Biden have already proven the only thing they truly understand is supporting the people/organizations that got them elected. They do not care that American citizens will be in debt because of their spending for generations. The stimulus route to fixing an economy does not work, it has been proven time and time again.
didn't tat pony-tail dipstick say to buy Wal*Mart too...jus where wus he born??? People in America need to realize jus what got America in this shape…”cheap” yes so-call cheap items from a foreign land. quote*Wal-Mart firmly believes in local procurement. We recognize that by purchasing quality products, we can generate more job opportunities, support local manufacturing and boost economic development. Over 95% of the merchandise in our stores in China is sourced locally. We have established partnerships with nearly 20,000 suppliers in China. *end quote! Now! if there be 182 country’s making items for the world to buy and they have only 5% of the pie in China…duh! This company makes the nice people of China support their currency(yuan) by keeping it in their country working for the people there…. but with the “yuan” going up in value and the US dollar going down…all the foreign items that the American consumer buys thinking it is cheap has went up in price. People…its all about the currency and to keep a currency strong you got to keep it floating around the country you live in so it can work for you. For the past 12 years all them US dollars are being shipped overseas to a foreign bank and with the American worker not making anything for the foreigner to buy the “we the people” have to turn to the “second” largest employer in America(Uncle Sam) to sell “we the people” debt in order to get all them dollars back! 50 years ago a foreigner would had given their left nut for a US dollar or a Hershey’s chocolate bar and today the same foreigner has got Uncle Sam and the American consumer by both all the while Hershey is moving the chocolate factory to Mexico. Wake up! America and think “MADE IN AMERICA.” quote*"Considering that there are over 30,000 ships at sea this morning," writes James Carlton, director of the Williams College-Mystic Seaport Maritime Studies Program, in an e-mail, "the total number of organisms and species in this global 'bioflow' on the morning your readers read your piece could be staggering - billions of individuals, and thousands of species." Indeed, scientists have long considered ballast water the primary way invasive aquatic organisms are introduced. From the zebra mussel's arrival in the Great Lakes, to an American jellyfish severely disrupting Black Sea fisheries, the potential costs of accidental introduction of a species to new homes can be tremendous. Aquatic invasives cost the US $9 billion yearly, according to estimates by David Pimentel, professor emeritus of ecology and evolutionary biology at Cornell University in Ithaca, N.Y. Zebra and quagga mussels (a cousin to the zebra) alone cost the $1 billion annually.*end quote! tat is $9 billion a year in hidden taxes to all Americans... cheap ain't chic and it cost America............jobs!
didn't tat pony-tail dipstick say to buy Wal*Mart too...jus where wus he born??? People in America need to realize jus what got America in this shape…”cheap” yes so-call cheap items from a foreign land. quote*Wal-Mart firmly believes in local procurement. We recognize that by purchasing quality products, we can generate more job opportunities, support local manufacturing and boost economic development. Over 95% of the merchandise in our stores in China is sourced locally. We have established partnerships with nearly 20,000 suppliers in China. *end quote! Now! if there be 182 country’s making items for the world to buy and they have only 5% of the pie in China…duh! This company makes the nice people of China support their currency(yuan) by keeping it in their country working for the people there…. but with the “yuan” going up in value and the US dollar going down…all the foreign items that the American consumer buys thinking it is cheap has went up in price. People…its all about the currency and to keep a currency strong you got to keep it floating around the country you live in so it can work for you. For the past 12 years all them US dollars are being shipped overseas to a foreign bank and with the American worker not making anything for the foreigner to buy the “we the people” have to turn to the “second” largest employer in America(Uncle Sam) to sell “we the people” debt in order to get all them dollars back! 50 years ago a foreigner would had given their left nut for a US dollar or a Hershey’s chocolate bar and today the same foreigner has got Uncle Sam and the American consumer by both all the while Hershey is moving the chocolate factory to Mexico. Wake up! America and think “MADE IN AMERICA.” quote*"Considering that there are over 30,000 ships at sea this morning," writes James Carlton, director of the Williams College-Mystic Seaport Maritime Studies Program, in an e-mail, "the total number of organisms and species in this global 'bioflow' on the morning your readers read your piece could be staggering - billions of individuals, and thousands of species." Indeed, scientists have long considered ballast water the primary way invasive aquatic organisms are introduced. From the zebra mussel's arrival in the Great Lakes, to an American jellyfish severely disrupting Black Sea fisheries, the potential costs of accidental introduction of a species to new homes can be tremendous. Aquatic invasives cost the US $9 billion yearly, according to estimates by David Pimentel, professor emeritus of ecology and evolutionary biology at Cornell University in Ithaca, N.Y. Zebra and quagga mussels (a cousin to the zebra) alone cost the $1 billion annually.*end quote! tat is $9 billion a year in hidden taxes to all Americans... cheap ain't chic and it cost America............jobs!
If Obama and Biden are Dumb and Dumber, then those that voted for them are DUMBEST. I DO THINK SO
dearest Johnny Ike....JOB 1----PAY BACK ALL THE PEOPLE WHO DONATED TO/BRIBED YOU INTO THE POSITION YOU ARE IN....JOB 2----MAKE SURE THEY GET EVEN MORE TO COVER YOUR FUTURE CAMPAINS----JOB 3---MAKE SURE THEY GET EVEN A LITTLE MORE TO HELP THEM CONVINCE THEIR FRIENDS "IT'S THE BEST INVESTMENT ON THE PLANET"....please wake up----try coffee
Johnny Ike, Obviously, you must be a graduate of the DC public school system.
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Whit Chambers - Monday July 06, 2009 11:15AM EDT
If Obama expires, Joe Biden will be president. Dumb or Dumber.