Friday, Apr 25, 2008
Homer Simpson gets Free Greenbacks
BBC: US to send out $100bn in rebates
Instead of cutting interest rates further the US starts sending out cheques to stimulate the Walmart Economy. This is the one trick that Gordon Brown would never copy.
Posted by enuii @ 11:14 PM (570 views) Add Comment
9 Comments
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1. dohousescrashinthewoods said...
Darn, would be nice to see some of that "majority of my income" which is headed for the MacBroone coffers (soon to be wasted on some hair-brained incompetent scheme) finding its way, rather more usefully, back to my account.
2. Stevie Dee said...
£300 or £600 for a couple. My recommendation to any American couple.. use the money to stock up on tins & essentials.
3. Stevie Dee said...
I really have a bad feeling about this.. imagine getting a cheque for £600, knowing the economy is up the spout. Survival instinct kicks in.. people will buy food (how much food can you buy with £600 and how long will it last?), long term staples, etc. So effectively the US is gearing up for something bigger, I believe, the money is not a stimulus for the economy, more of a preparation, for something to happen from June onwards. Just a hunch!
4. drewster said...
Isn't that exactly what Brown is proposing with the 10p tax rebate thing? Send out a cheque for £170 or so to all the single childless low-earners who lost out after the tax change.
You're right though, this government would never try such a thing. Given the choice between returning surplus cash to the voters, or squandering it on pet projects, our politicians choose their pet projects every time. I'd probably do the same if I were in government....
5. paul said...
When the government starts dropping money from helicopters to try to stimulate the economy, leave. Its a bit like burning the furniture - you know it will keep you warm in the short term, but in the long term you'll only have to pay for it further down the line.
Seriously, this is Zimbabwean economics. If this ever happens in the UK, then consider emigration.
6. alan said...
Gordon won't do this. He favours useless social engineering projects.
Paying tax rebates means giving money back to wage earners. I don't think Gordon likes me.
7. it_is_going_with_a_bang said...
I think you will find he would rather give Billions to keep Bankers propped up at the wine bars in the City than actually give it to hard working normal people.
After all he going to need a job in a couple of years - at a bank no doubt.
8. Jimmy_joe said...
They called it Trickle Down but it was actually Trickle Up. Now that there's no wealth left to trickle, they have to print some more to keep the system going.
9. Dbc Reed said...
Good idea.Bernanke, who knows the 30's depression inside out, has always said drop money from
helicopters if you have to.Problem is it looks a tad inflationary.
Its a one-off version of Major Douglas's National Dividend which would have paid everybody a small unearned income.There are problems if the rebates go towards a house price bubble but they are too small for that surely.