The only reason that the U.S. economy is doing as well as it is, is because of the government stimulus package. Now, if the government doesn’t introduce another stimulus package, this one will burn off in the first half and in the second half we could easily slip back into recession.
Westwood Capital Managing Director Len Blum • Arguing for the need for more stimulus on CNBC this morning. He notes that the government isn’t exactly in a position to be giving out more stimulus money due to the massive amount of lending it’s doing at the moment. Is this guy full of it? Depends on who you ask. Others argue that we might see a soft landing instead of a double dip. We argue that CNBC is full of speculation and it’s kinda hard to trust the speculation from their network. source
If they do not take up proper actions, they will be held for the breach of duty. In those serious cases, the corporate representatives will be forced to apologies to the public and promise to correct their wrong-doings in public.
The Chinese government • In a statement regarding the blocking of mobile porn sites. China’s trying really hard to assert control over the ‘net, specifically blocking porn and social networking to keep its people at bay. The Iranian protests, in particular, showed them the power of social networking, and now they’re trying to put that genie in the bottle. We hope their attempts fail. source
Bro says we’re too close to the edge of inflation.Alan Greenspan, oh, how could we live without your insight? The former Federal Reserve chairman told “Meet the Press” that we’re on the edge of what the organization can do to curb unemployment. “You cannot ask a central bank to do more than it is capable of without very dire consequences,” he continued. We imagine he also said, off-camera, “I was way better at this job than that Bernanke #(&hole,” but we don’t have proof of this. source
Tons of stimulus aid went to nonexistent districts, the site says. Question: Do you know where Arizona’s 86th district is? Well, (surprise!) it doesn’t exist – for the record, Arizona only has eight districts. It got a lot of stimulus money, though, according to Recovery.org. The government had a lot of explaining to do about the errors, but let’s just say they’re getting fixed. And Joe Biden was stuck trying to explain the errors on “The Daily Show” last night. (He tried really hard to downplay the bad press.) source