IMF: This Recovery Will Die Without More Stimulus

The Business Insider ^ | 4-5-2010 | Vincent Fernando

[Thermalseeker]

Private sector jobs are not real jobs in the eyes of some, soon to be many.

'Dat's the plan, man! It's also no accident that the gubmint is now in full control of the distribution of all student loans.....

[throwback]

Good point. We’re now more European than the Europeans.

[School of Rational Thought]

It is clear that I am underfunded. The government needs to make the commitment to my interest and properly fund my goals.

[mkjessup]

This is the Paul Krugman cry, endlessly spend money you don't have (borrowed) until the economy recovers.

By Krugman-the-Stooge's logic, the following is sound financial housekeeping:

Mama: "Lawdie lawdie, we all outta work, we're runnin' outta money, all the food is all ate up, we've pawned everthin' we ever had to the people what own that Chinese laundry, we gonna lose the house, what on Earth we gonna DO?!?"

Barry: "Oh now don't you worry now Mama, our cousin Tim works at the bank, and this afternoon he gonna put in for a $25,000 increase in our MasterCard credit limit!"

Mama: "ohhhhh thank ya JESUS! We got money agin!"

Barry: "don't thank Jesus Mama, thank me and Tim"

Mama: "But Barry what we gonna do when the bill comes in?"

Barry: "Write 'em a check Mama"

Mama: "We don't have no money to write that check on Barry!"

Barry: "Sure we do Mama, we just cash advance the MasterCard and pay it with that."

Mama: "You a good boy Barry, how many extensions can Cousin Tim put in for us at the bank on that MasterCard?"

Barry: "As many as we can get away with before we seek bankruptcy protection Mama."

Mama: "Let's go get some lotto tickets and fill up the Buick!"

[Bean Counter]

More “stimulus” means more unemployment and other “benefits” will be extended.

Considering the amount of money that major Corporations are announcing in these charges because of Obamacare, we are probably looking at another round of layoffs in the next few weeks. Today is the start of the first full week of the 2nd Quarter, which means we will be seeing 1st Quarter financial statements coming our over the next few weeks.

We’ll see how long all of this irrational exuberance lasts.

[sickoflibs]

That is a great analogy, paying the CC bill minimum with the CC cash checks (that have a 3% up front fee yet.)

It needs to be improved because the theory is more like they hit the lottery, and then pay all the debt back. That is jumpstarting the economy with massive debt.

[Touch Not the Cat]

.
Cut the size, scope and budget of government. That is the best stimulus.

[Rockiette]

Not to worry! Brown,Merkel and their buddies are putting a global tax plan together - this will be another outrage that Obambam will sign on to. Check it out at the Finanacial Times. Can hardly wait /s/

[GeronL]

I have seen that. Stimulus my big toe, they went and built a city that the Chinese can’t afford to live in.

[GeronL]

Canada is proud to have lowered their taxes and their debt, but if the US goes down its taking the world with it.