Comments on: “Economic Stimulus” Won’t Fix Long-Term Economy

By: Two Ways to Boycott Consumer Culture : Yielding Wealth - Personal Finance Tips – Money Management Advice

Wed, 23 Sep 2009 16:49:47 +0000

[...] isn’t the main driver, there is less of a dramatic swing between the two. (And “economic stimulus” may not be necessary.) If you are ready to do what is right for your personal finances, and [...]

By: Subprime Mortgage Lenders Get More Help From the Fed - Mortgage Rate News - Banks.com

Tue, 11 Mar 2008 15:17:11 +0000

[...] not sure we need this constant economic stimulus anyway. What happened to accepting the natural economic cycle? The natural real estate market [...]

By: Housing Market Likely to Affect US Economy, Says Bernanke - Mortgage Rate News - Banks.com

Fri, 15 Feb 2008 15:05:28 +0000

[...] especially in the mortgage industry, were tightening standards, offsetting some of the effects of economic stimulus [...]

By: Miki

Miki — Tue, 12 Feb 2008 18:59:19 +0000

Oh Miranda, How can you write about creating wealth and not understand the basics of doing it in the US? The trick here is to run up the largest deficit in history and then provide a bonus to those who rely on you.

See, that isn’t so difficult to understand, is it? :)

By: miranda

miranda — Tue, 12 Feb 2008 02:21:46 +0000

Oh, paying off debt would definitely be a good use of the money. Unfortunately, despite good intentions to do so, most people end up spending it. Or — even worse — using it as a down payment on even more debt. That’s what happened a few years ago with the Bush Administration and Congress passed that tax rebate. You can see how much it helped in the long run. Since we’re in worse shape now, and the tax rebate is even bigger…

By: Ren Garcia

Ren Garcia — Tue, 12 Feb 2008 01:07:51 +0000

Miki’s suggestion of using the “stimulus” windfall to pay down debt is an excellent idea. Consider: if you were paying upwards of 12% on your debt (subprime credit cards pay 3 to 5 times of normal interest), you would in effect be earning that much on your money. I don’t know of any investment that could earn that much.

By: Miki

Miki — Mon, 11 Feb 2008 22:19:50 +0000

Hahahahaha This country can’t eve SPELL ‘long term’, not Wall Street, nor business and certainly not politicians, so why expect it of individuals?

By: miranda

miranda — Mon, 11 Feb 2008 21:56:24 +0000

I think you and Miki are right about all this about it being an election year. And since our society is interested in instant gratification now, politicians are ready to give it to us in this form.

It would be good if long-term planning came to the fore.

By: Jean Murray

Jean Murray — Mon, 11 Feb 2008 21:45:31 +0000

The reason for this “fix” is that it’s an election year. It’s all about perception, so Miki’s comment about the “puppetmaster” is dead on.
What everyone needs to do (and won’t do) is to settle down, tighten their belts, and get to work thinking long-term.

By: miranda

miranda — Mon, 11 Feb 2008 19:27:45 +0000

It would be nice if that happened. It would be better in terms of personal finances, even if it didn’t “stimulate” the economy.

And it is a good sign that most plan to pay down debt. The real test, though, comes when it actually arrives and people are called on to put their good principles into practice.