Tuesday, December 22, 2009, 10:35PM ET - U.S. Markets Closed.
There was a great clamor last week for a second Federal stimulus - because the first one wasn't working. President Obama threw cold water on that idea over the weekend, when he rejected calls for a second stimulus and suggested that we need to be patient and give the first stimulus time to work.
Well, President Obama will soon be changing his tune, says our guest Gary Shilling.
By the third or fourth quarter, Gary says, the government will launch a second stimulus. Next year is an election year, and despite ballooning deficits, politicians won't sit idly by and watch themselves not get re-elected because the economy has failed to recover.
The second stimulus will finally trigger an economic recovery...but it won't happen until next year.
In the meantime, Gary thinks, the stock market will crash again, with the S&P dropping 35% to 600.
If they had done NOTHING, allowed the too big to fail to fail, we would not be in this mess. We would have had pain that would be in the healing process now. Instead, we have a president, a house and a senate, who have ignored the real solutions and profited from chaos. Obama is a true, lying, baby kissing politician. He continues to redirect and maul the English language to suit the situation. Why does he emphasize his popularity is better than his policies in the polls? Because he wants to be considered the most popular president ever while destroying the foundation of this country. He needs to spend less time on the b-ball courts, the all star game press box, flying his wife to dinner in NY, and get his act together in the White House. Real pain is being inflicted by this administration and he is clueless to it all.
Lower the retirement age temporarily to 55, freeing up jobs, promotions, etc., beef up social security with some of the stimulus/bailout money. Unemployment diminishes, economy recovers, and gradually phase the normal retirement age back to 62. problem solved -- next crisis??
"The second stimulus will finally trigger an economic recovery" And just WHY would that happen? Will this magical second stimulus give back the same-paying jobs that people lost? Will this magical second stimulus pay off everyone's mortgages? There will be no quick recovery ... too much 'value' has been lost, too many jobs have been lost, too much 'credit' has been lost ... I expect 2010 to be just like another 2009 ... a lot of talk of an economic recovery early on, only to be restated for a recovery to happen toward the end of the year.
A broken clock is correct twice a day. Sorry Shilling, just another talking head.
How ironic, these "dem"wits want another stimulus that NOBODY wants and knows we cannot afford with a trillion dollar deficit now on the books. The very thing they will do to keep themselves elected will be the very thing that gets them out of office haha.
If he goes ahead....With another...Stimulus Package....It Will Be ...."THE FINAL BULLET"...Into the {Corpse}..The U.S.A....Why "Shoot" A DEAD...Horse...!!!!!!!Nothing is Reviving...This.."Dead" Economy....Amen.
Let's face it people. Obama is way over his head on this situation. He was a community organizer who was in the senate for how many years? No experience and he is in charge of the strongest nation is the world and he flip flopping worse than a fish out of water. During a tough economic environment he is out bowling with retarded friends (remember that one?) and throwing sissy first pitches in all star baseball games. His advisers are now making the poor guy look like a clown. He needs advisors that are smart not Ringling Bros. Clowns. I pray he surrounds himself with good smart ethical people since the future of the nation is at stake.
Blodget could use some stimulus after being fined $4 Million by the SEC. How's that lifetime ban from securities working out?
Whoa, whoa, whoa! Slow down there, buddy! I'm still recovering from the first time you stimulized my package. Give me a little time to recover. A sandwich and some water is in order for right now. And maybe a little nap. Too much "rock-hard stimulus" (to paraphrase Schilling) causes chafing.
Oh not this old fool again! This is the guy who says we should let illegal aliens in so they can take all the vacant houses and thus solve the housing crisis. I am not sure if this guy is just completely senile or always was a traitor, probably both.
Sadly, hes probably right; but he's still an old fool/traitor....
You had to know this was coming ..... I wonder how he is going to create sustainable jobs from this batch of money considering the last batch is still unspent?
Just keep spending more and more Obama. Let's spend another trillion in the next six months.
The Obama Administration and Liberal Democrats have already told us themselves what we should expect from their rule: • Higher Taxes and More Government Regulation • 100% State-Controlled Health Care • Amnesty for Illegal Immigrants • Weakness on the World Stage and Apologies to Our Enemies • A Cap-and-Tax Climate Bill that Will Cause Energy Prices to "Skyrocket" • Taxpayer-Sponsored Abortions • Supreme Court Justices Who Support Racial Quotas • www.obamaimpeachment.org
Anyone that doesn't believe we won't have a second stimulus needs to understand how elections are won. It isn't possible, its certain.
Do something people.There is no such thing as too big to fail.If those banks and insurance companies were allowed to fail, we would have still had the economic downturn. Note that the only businesses that got any money were the banks and the car companies.But the car manufacturers got a lot less and were eventually forced into bankruptcy and they got way less money than any bank did. All the suppliers of their car parts were left to fail too.The banks never did lend any of that money out and caused the failure of een more companies.These stimulus deals go nowhere but into the banks pockets.Too big to fail my eye, if any of those banks were to fail, would it have bothered you?Any accounts were FDIC insured up to 250K. If you think another big stimulus that will only go into the pockets of the banks again and do absolutely no good unless you are a banker, then please contact your represenative to tell them your opinion.Tell them no banks are too big to fail.So what if they fail,them failing would only benefit the rest of us.These monopolistic companies are not supposed to exist because of the problems they are causing.We don't need more of the same.
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Scooter - Wednesday July 15, 2009 12:45PM EDT
A broken clock is correct twice a day. Sorry Shilling, just another talking head.