Diary

First it was 8, then 10, now 11

The talk of a second stimulus seems to be increaseing, and given the fact that the friends of the powers that be seem to be making out on the first one, I’m beginning to think that number two, three if you like, is a foregone conclusion.

Given that (bolding mine)

Legendary investor Warren Buffett said in an interview aired on Thursday unemployment could hit 11 percent and a second stimulus package might be needed as the economy struggles to recover from recession.

………….

He likened the first $787 billion stimulus package passed by Congress to “half a tablet of Viagra and then having also a bunch of candy mixed in — it doesn’t have really quite the wallop.”

“I think a second one may well be called for. It is not a panacea. A stimulus is the right thing. You hope it doesn’t get watered down,”

how can we possibly beleive that Obama and the Dems are not going to try for yet more pork stuffed Keynesian economics …. given the site rules I had better move on. 11% sounds like a lot but it could be alot worse, especially when you concider that GM is being pushed through bankrupcy so quickly, just imagine how bad it would be if Obama wasn’t trying to do that. Which means that Obama was at least 25% to 37.5% off in his predictions. I would say that he is more than likly right when he say this

“We’re not in a freefall, but we’re not in a recovery either,” he told ABC’s “Good Morning America.”

“We were in a freefall really in the last quarter of last year, starting in the financial markets and spreading to the economy, and we had this huge change in behavior.”(you don’t say, with all of the crisise)

“We’re going to come out of this better than ever, the best days of America lie ahead but not next week or next month,” he said.

But thats only IF the Feds get out of the way of the American Poeple and let US get on with the business of doing business, making money. My gut tells me that this isn’t going to happen until 2011 at the earliest, when God forebidding the adults have taken back the Poeples House. I know I’ll be working for that.