Posted on 02/23/2008 4:22:55 PM PST by EagleUSA
NEW YORK (Reuters) - A New York shopping mall is doing its part to stimulate the struggling U.S. economy by giving away $20,000 in cash to unsuspecting passers-by, hoping that handing out $50 bills will boost consumer confidence. ADVERTISEMENT
People dressed as Uncle Sam and the Statue of Liberty started handing out $1 bills around the borough of Queens earlier in the week, then began shelling out $50 bills at the Atlas Park shopping center on Friday.
Recipients are asked to spend or invest the money and told that if people have confidence in the economy it will become a self-fulfilling prophecy.
The handouts will continue for two months until reaching $20,000, equivalent to $0.05 per square foot of retail space.
The mall owners say the private-sector effort will "supplement" the $168 billion stimulus package signed into law by U.S. President George W. Bush on February 13.
Atlas Park owner Damon Hemmerdinger noted that tax rebates in the stimulus plan won't reach consumers for months.
(Excerpt) Read more at news.yahoo.com ...
Everyone keeps talking about "the coming recession" almost as if they hope one hits.
They keep ripping it off and skimming taxes and it keeps on ticking.
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Easily said, and easily done...to the tune of:
$9,318,869,871,336.78 -— national debt as of today. It is only a function of how big our credit card is...and how much of that debt is financed by our enemies???
A chichi mall in a middle class neighborhood in Queens. No wonder they are having a problem.
Why doesn’t the fed govt give us all a million dollars to spend so our economy will really soar? Because it’s all about election year politics that’s why. It is a short term stimulus that leads to a devalued dollar in the long run. People go out and buy things and because of the laws of supply and demand, those things go up in price. Printing money to increase spending is inflationary in the long run even if it stimulates the economy in the short term.
Printing money to increase spending is inflationary in the long run even if it stimulates the economy in the short term.
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Exactly - and you will be hard-pressed to find a pol in Washington that gives a damn about anything in America LONG TERM...!!!
Did Hillary show up for her handout?
Did Hillary show up for her handout?
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Probably. I hear she is selling “protection” now, to raise more campaign money. (chuckle). It would be no surprise.
Heard her campaign is short on cash, stiffing caterers, hotels, etc. all over the country. How will she be able to make her next “Protest Insurance” payment to the Justice Brothers?
The Feeds are printing quite a bit of it. M=3
My family went to the mall today and had trouble finding a place to park. My husband pulled into the parking lot and said, “Recession, my a$$.”
Walking thru the mall, I think I heard or said “excuse me” a hundred times. It was packed and everyone was carrying bags. Of course it is the time when many are getting back tax refunds.
But look at M1!
From page 16 of Domestic Open Market Operations During 2007 by the New York Fed
The goverment would like me to get out and spend, but then just today I got another tax bill from my local municipality that wants me to pay for the joy of owning a car in their jurisdiction. Not a sale, mind, that happened ages ago, just having the thing.
I was considering a new computer, but between those two, the local boondoggle government and foreign tyrants who hate us took everything I was going to send to people who actually make things, so you are just flat out of luck.
I'll be moving to a new state because I don't like the taxes in this one. Warmer, too, to pay less in heating bills. And I might buy something other than basic necessities oh, maybe 5 years from now. In the meantime, pound sand.
I'm sorry, this is for real, I don't understand the slang used here. What does it mean? Cheap? I thought "Chichis" were, well...here's the urban dictionary reference.
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