Ok...I really need you financial gurus to help with this one. I read on an British web site that

"The M3 money supply in the United States is contracting at an accelerating rate that now matches the average decline seen from 1929 to 1933, despite near zero interest rates and the biggest fiscal blitz in history

Now, as I understand it,the M3 is how Europe tracks the economy in our country (Heck, I didnt understand that...I just read it but that is what it says). Now in this article, the reason most experts in Europe say is..

""It’s frightening," said Professor Tim Congdon from International Monetary Research. "The plunge in M3 has no precedent since the Great Depression. The dominant reason for this is that regulators across the world are pressing banks to raise capital asset ratios and to shrink their risk assets. This is why the US is not recovering properly," he said.

http://www.telegraph.co.uk/finance/e...-stimulus.html

Now the Obama administration's answer evidently is a brand NEW STIMULUS bill worth another 190 Billion !!!

The link below which is where I read much of this says that 55 billion is in extended unemployment benefits.....in addition to the following and this is a direct quote from the article...

"•$65 billion in Medicare physician payments — the so-called “doc fix” that Democrats left out of ObamaCare so that it could be officially scored as a deficit-reducing act rather than a deficit-ballooning one;
•$24 billion in Medicaid funding for states so that they can keep up with the unfunded mandates they already faced, much less the additional ones that will flow from ObamaCare;

http://blogs.ajc.com/kyle-wingfield/...stimulus-bill/

Recall some posters saying how that HEALTH bill will be an albatross around our neck for many years ?

Anyway, this is another frightening action or is it not ?

Just need to add that I was reading many comments on this and of course Bush's name came up....the point was made and I bring this to this thread in case someone actually posts in here and would like the financial folks to comment on it...basiclly what was said that Bush had huge deficits.....Obama has outdone him by far and one difference is that OBAMA'S DEFICITS ARE A PERMANENT FEATURE OF THE BUDGET !!!

pursuing "what is in the bill"?
Did the health care reform process burn everybody out?

Speaking of being "permanently" a part of the budget.....what has happened to the new budget? Last I knew the due date had been passed and has not been approved as yet.

If we all just use the current administration's approach to budgeting, all we have to do is increase our spending for improvement of our respective house holds. Now why did we not think of that before???

btk

Originally Posted by billethkid

pursuing "what is in the bill"?
Did the health care reform process burn everybody out?

Speaking of being "permanently" a part of the budget.....what has happened to the new budget? Last I knew the due date had been passed and has not been approved as yet.

If we all just use the current administration's approach to budgeting, all we have to do is increase our spending for improvement of our respective house holds. Now why did we not think of that before???

btk

On the budget process, I just read that it appears that congress does not want to touch it until after the November election so as to not call attention to the numbers !

Nice that country comes before getting elected, huh ?

And to your point on the health care bill....this bill, unless repealed, is going to tie us up for many many years because NOBODY cared about the details as they didnt with the first stimulus, nor even with the November 2008 election !