Mr. Boombox

Dissecting the Faux Stimulus Fiasco

The tone of most of these comments is the correct one. This "stimulus" package is one of the most cynical frauds yet foisted on the American Taxpayer. This bill is a gigantic Trojan Horse for socialism in the USA. The creeping incrementalism and smoke screens that the Democrat Party has hidden behind these past 30 years to implement their euro-socialism has now been abandoned in the name of "The Economic Crisis." They are using this self-inflicted disaster in order to ram more of their redistributionist "command and control" old-New-Dealism down our throats.

I believe that if THIS particular bill is passed at THIS particular level of spending, the growth of Government will prove too burdensome on the real economy and stifle what would have been a "normal" though uneven recovery beginning in late 2009.

TARP has been a partial success. We have had no more major bank failures and the unwinding of the swap positions of the Lehman's and the Bear Stearns' and the Merrill Lynch's, as well as the relatively orderly disposition of the foreclosed assets of WAMU, Countrywide, Ameriquest, etc. are proceeding without causing a general collapse. That has to be called a success.

Here is what I, Mr. BoomBox, Astrophysics-level Economics Genius, Auto-Didact and Miraculous Prognostcator predict and recommend with utter and complete Metphysical Certitude, needs to happen.

a) Suspend "Mark-to-Market" rules for all banks and financial firms taking Federal TARP or Investment funds. Allow the "toxic" assets to find their own levels in an orderly fashion, instead of unnecssarily wiping out TRILLIONS IN SHAREHOLDER EQUITY. This is so elementary, a retard could figure it out. Which is why the Federal Reserve and Treasury haven't figured it out. Not enough of them think at a "retard level."

b) The Fed must CREATE a separate "Derivatives exchange" market and create valuation mechanisms for every different class of Credit Default Swap, MBS, CMBS and other "toxic" type of derivative. In order for MARKETS to FUNCTION, they need transparency and a mechanism for transmitting pricing data. Again, retard-level stuff. See Comments above.

c) Suspend the Capital Gains Tax for 3 years and "phase it back in" over a 5-year period, back up to a limit of about 15%. Retards, take note, this is what is called "stimulus" in the "real world." The real world being that not inhabited by Million-Dollar lobbyists, Mercedes-Marxists and the Greedy-Money-Grubbing, Red-Toothed Government "Welfare Establishment."

d) Reduce Corporate taxes to at least the level of IRELAND for Christ's sake ! What are we some Third-World Banana Republic that elects SHAMELESS HOLLOW DEMAGOGUES TO THE PRESIDENCY?? Oh, wait, errr, uuummm, eehhhhh, yeah I uhhhh, guess we are.

So, I see that at least the retard level of the electorate is healthy.

Fed Approves BoA's Acquisition of Merrill: Ramifications?

Yeah, these must be the same brilliant "synergies" that the genius Sanford Weill put in place when he merged Citibank with Travelers and Smith Barney, along with getting the Feds to dismantle Glass-Steagal.

How did that work out? Oh yeah, oops! Never Mind!