Housing bubble was the most important thing in this sunshine. Every tom, dick and harry out there started thinking that the American dream could be bought for “no-money-down” and thus decided to create a bubble within a bubble.
Suddenly now, everyone seems to be talking about recession. There is no recession, there won’t be one. This is the game of money being played by people who know exactly what is going on…
Stimulus package calls for tax rebates, once you get the rebate, what will you exactly do? Most people polled by major news papers say they would pay their credit card debt, some say they would by a flat screen TV (I would too). When you pay your credit card debt, you help the banks. The end benefit is to the banks who have already given out loans that will never be collected so you will provide them some relief when you pay your credit card debt.
People who want to buy a flat screen TV, they are the only ones who will provide any benefit to the economy. Most people won’t be buying flat screen TVs. If you don’t spend the tax rebate, you are not playing your part in stimulating the economy. What good exactly does a stimulus package like this does if it can’t even guarantee that it will be a net gain to the economy?
I’ll be doing my part with any rebate I get. I’d spend every dime on a new laptop.
I don’t think many people realized that this was just a loan. Really I don’t think it had much effect at all.