Over the last two weeks, I think I’ve read about FIVE times in the news that the stimulus bill has passed. Passed in the House, passed in Congress, passed in the Senate (that’s today); revised and passed again. It makes sense that it would have to pass through all the different bodies of the US government. I just admit that I don’t know about the order of all this and how it happened five or six times. With the revision in there, maybe it happened more than that. You’ll see from my previous post how it had initially already passed somewhere over a week ago.
All this passing underscores, I think, the severity and enormity of the bill. Of course it’s going to be procedure for any bill to pass, I suppose, but here each step is getting a lot of media attention.
I have to say that I’m still with Ron Paul, Peter Schiff, Marc Faber and others on how overall the stimulus is probably a bad idea – it’s a gambler’s fallacy: double or nothing: just let me play one more time and I’ll win it all back – but since it’s careening like a Boeing jet on a kamikaze course straight to Hope and Prosperity, there’s no stopping it now.
Obama is insanely erudite (as a close read of either of his books will show much more than can be observed in the media). The stimulus bill is looking to be his version of the war on terrorism in 2001. I wonder if he genuinely thinks he’s going to find a way to pay back all the US debt, or if he’s planning on just inflating his way out of it (I know, I know – most of the debt came from W.’s war anyway…).Related Posts
- Market Risks and Challenges That Lay Ahead in the Second Half of 2010
- Secret Fed and Treasury Knowledge of Market Meltdown
- The New Volatility, or Are Stock Markets Affected by Political Influences Reaching A Tipping Point?
- Week-Long Auction of US Treasuries Amount Expected to Increase, Demand To Fall With USD
- Tips For Locking Yourself Out of Your Apartment In Style - What You Hope You Have If Your Keys or the Landlord is Lost