# Tax Rebate/Refund



## zogman (Mar 20, 2002)

Tax Rebate

This morning President Bush said each one of us would get a $1200.00 tax rebate. It was previously slated to be 
$1400.00, but they dropped it to a $1200.00 tax rebate because of various budget problems.

Now, if we spend that money at Wal-Mart, all the money will go to China, if we spend it on computers, most of the money will go to Korea or India.

If we spend it on gasoline it will all go to the Arabs.....and none of these scenarios will help the American economy.
We need to keep that money here in America.....so the only way to keep that money here at home is to drink beer, gamble, or spend it on prostitution. Currently it seems that these are the only businesses still left in the U.S.
:withstupid: :lol:


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## hunter9494 (Jan 21, 2007)

Mr. Spizter has certainly done his part to keep the money at home!


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## R y a n (Apr 4, 2005)

hunter9494 said:


> Mr. Spizter has certainly done his part to keep the money at home!


ya got me on that one.... humor after my own heart.


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## hunter121390 (Nov 7, 2006)

stupid government. i put in over $3,500 of my 12,000 or so that i made last year into taxes, and im not even getting a stupid rebate check, because im not 18. :******: :******: :******: :******: :******:


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## Bobm (Aug 26, 2003)

the rebate check is money borrowed from China that will further put this country in the red while buying votes in this election year which is why both Dems and reps in rare agreement are approving it.

Out govt needs to purged of these self serving jackals and our schools have to quit dumbing down our population if this country is to survive.


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## dblkluk (Oct 3, 2002)

> stupid government. i put in over $3,500 of my 12,000 or so that i made last year into taxes, and im not even getting a stupid rebate check, because im not 18.


But I bet you get a nice little tax refund every year though, huh?? :wink:


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## hunt4P&amp;Y (Sep 23, 2004)

dblkluk said:


> > stupid government. i put in over $3,500 of my 12,000 or so that i made last year into taxes, and im not even getting a stupid rebate check, because im not 18.
> 
> 
> But I bet you get a nice little tax refund every year though, huh?? :wink:


Yeah, about $3,500 worth, ohh and a $600 rebate. Well, tax credit! So you get to pay it back next year!


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## fishhook (Aug 29, 2002)

Bobm said:


> the rebate check is money borrowed from China that will further put this country in the red while buying votes in this election year which is why both Dems and reps in rare agreement are approving it.
> 
> Out govt needs to purged of these self serving jackals and our schools have to quit dumbing down our population if this country is to survive.


Our schools do a great job of educating our children on english, math, history, etc., but a horrible job of educating our youth on the ways of the world. Virtually no educating them on current and future country issues. Things like budgeting money or most recently the sub-prime mortgage crash are barely covered, if at all. Signs of recession, the financial status of the united states....i could go on and on.

The problem is we are so dang worried our kids can pick a preposition out in a sentence or find the square root of pie x 800/.12589, we have forget to teach them the things they will need to know in this life. Call me crazy, but this whole "no child left behind" act has done nothing to help this country. All it does is force teachers to teach to this testing and it doesn't include a lot of things you will need to understand to live a productive adult life.

ps....as far as the economic stimulus package. I could write for pages on that, but I'll just write this. We have been in economic trouble for about 3 years. This will not help. I'm against it. Yes, it will create more spending. I know that is what the govt. is trying to do, but that is what got is in this trouble. Way too many people using credit cards, etc to make purchases. I predict a lot of people will take this stimulus check, go to their local furniture store, car dealership, etc and use this as a down payment while creating more debt and making the problem even worse than it is. There is more debt in this country than at any point. Housing market is a mess (will get worse before it gets better...trust me), energy costs are crazy, oil is nuts, etc. We are a little different in north dakota (with farming our large business and they had a great year this past year) but we are definatley naive to what is going on elsewhere. Many jobs lost, numerous home foreclosures....it's a bad situation for our country right now.

All that said....I'm not gonna turn around and send the check back to the gov't :wink: .


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## hunter121390 (Nov 7, 2006)

hunt4P&Y said:


> dblkluk said:
> 
> 
> > > stupid government. i put in over $3,500 of my 12,000 or so that i made last year into taxes, and im not even getting a stupid rebate check, because im not 18.
> ...


i got a bout 600 back this year with no rebate coming. and ya, next year im most likely going to have to pay in. if i made less than $5500 i would have gotten it all back. but i only got back about $600 total. just enough to get my truck.


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## dblkluk (Oct 3, 2002)

> Our schools do a great job of educating our children on english, math, history, etc., but a horrible job of educating our youth on the ways of the world. Virtually no educating them on current and future country issues. Things like budgeting money or most recently the sub-prime mortgage crash are barely covered, if at all. Signs of recession, the financial status of the united states....i could go on and on.
> 
> The problem is we are so dang worried our kids can pick a preposition out in a sentence or find the square root of pie x 800/.12589, we have forget to teach them the things they will need to know in this life. Call me crazy, but this whole "no child left behind" act has done nothing to help this country. All it does is force teachers to teach to this testing and it doesn't include a lot of things you will need to understand to live a productive adult life.


Good stuff hook... :beer:

I couldn't agree more...


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## hunt4P&amp;Y (Sep 23, 2004)

How did you only get $600 back? That doesn't make sense? Do you go to a tax person? You should have gotten every penny back. Interesting. I would say the best thing to do is get a good tax person. Mine saves me tons and tons every year. Previously I was paying in tons, now with self employment taxes I get out of there for less then a couple hundred bucks! 8)

DUDE I would check on that you should have gotten everything back. IMO


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## hunter121390 (Nov 7, 2006)

hunt4P&Y said:


> How did you only get $600 back? That doesn't make sense? Do you go to a tax person? You should have gotten every penny back. Interesting. I would say the best thing to do is get a good tax person. Mine saves me tons and tons every year. Previously I was paying in tons, now with self employment taxes I get out of there for less then a couple hundred bucks! 8)
> 
> DUDE I would check on that you should have gotten everything back. IMO


i had a tax guy do mine. the last few years i got everything back, because i didnt make over a certain point. i had it checked twice and thats all i got back. i also had him do it again because it didnt seem right to me either, and thats wat he came up with. also i had another tax guy do it and thats all we decided i was getting back. and im pretty sure i dont have the info or anything anymore. i had it sitting on our kitchen table and when my dad cleaned off the table i think he threw it away. i think next year im gunna take my taxes to h&rblock ive never heard of anyone having problems with that. if you can think of any way i can check to see if i should get more back id appreciate your idea. right now my dad and i really need money.


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## hunt4P&amp;Y (Sep 23, 2004)

Humm Thats interesting. Just through running numbers through my head I thought you should get it all back. I guess I would have to look at exact numbers to tell exactly. I'm sure they are right. They don't really make mistakes, but some however don't know as many ways you can kinda "cheat" the system for say for lack of better words. Thus finding more ways to deduct numbers. I am not the best with taxes, but I have a fair grasp on them. My accountant is very good at explaining things to me, and helping me out!

You are going to school correct?


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## hunter121390 (Nov 7, 2006)

ya. im a junior in high school. ive been out the last 5 days with nemonia(sp) going to be 6 tomorrow in case you were wondering. i turn 18 on December 13th, 2008


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## hunt4P&amp;Y (Sep 23, 2004)

Humm I still think you should have got it all back.


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## hunter121390 (Nov 7, 2006)

i wish. ill have to see if i can find the tax slips or whatever and look them over and maybe have them redone


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## Bgunit68 (Dec 26, 2006)

I guess they are sending them out according to the las 2 digits of your social. 00-09 Week of 07/23, 10-19 07/30, 20-29 08/06, 30-39 08/13, 40-49 08/20, 50-59 08/27, 60-69 09/03, 70-79 09/10, 80-89 09/17, and 90-99 09/24. You you Filed Married and jointly it goes by the first social listed on the return.


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## R y a n (Apr 4, 2005)

where's a website that approximates how much (how big) a check you are getting?

Thanks


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## Bgunit68 (Dec 26, 2006)

I copied fro the IRS.gov web site. On the home page there is a section that covers Rebate Questions.

Updated March 10, 2008

Starting in May, the Treasury will begin sending economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return. IRS will take care of the rest. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment.


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## R y a n (Apr 4, 2005)

Bgunit68 said:


> I copied fro the IRS.gov web site. On the home page there is a section that covers Rebate Questions.
> 
> Updated March 10, 2008
> 
> Starting in May, the Treasury will begin sending economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return. IRS will take care of the rest. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment.


I guess I had heard all of that. I thought the high end rebate was $1200 not $600 for an individual...

What I was looking to understand was how the breakdown between different payment tiers worked out..

Like you made 10,000 vs 25,000 vs 50,000, and where it shows if you made $xxxx you get a check equal to $xxxx


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## cwoparson (Aug 23, 2007)

> Humm I still think you should have got it all back


I think if Daddy claimed him as a dependent he wouldn't get it all back and that would explain why he gets no rebate check. However Daddy will get $300 for him. The $600 tax refund he received was most likely calculated as over payment starting after the $5,350 income cut off for those under 18 and being claimed as a dependent. So in reality you are getting a $300 rebate, but in your parents name. Had your parents not claimed you as a dependent you would get a $600 rebate but I'll bet your parents saved far more on their taxes than the higher rebate you would have received. Ask your folks, maybe they will give you that $300 they will get back for you.

Ryan, The maximum rebate is $600 for an individual and $1,200 for a married couple filing jointly.

Parents eligible for a rebate will receive $300 for each qualifying child. The child must be under age 17 as of the end of last year and live with you for more than half the year.

Rebates begin to be reduced once adjusted gross income tops $75,000 for an individual and $150,000 for a couple. Your rebate is reduced by 5 cents for every $1 you make over those thresholds.


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## R y a n (Apr 4, 2005)

cwoparson said:


> Ryan, The maximum rebate is $600 for an individual and $1,200 for a married couple filing jointly.
> 
> Rebates begin to be reduced once adjusted gross income tops $75,000 for an individual and $150,000 for a couple. Your rebate is reduced by 5 cents for every $1 you make over those thresholds.


Gotcha... thanks for the clarification. I wonder how they randomly came up with that figure?


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## hunter9494 (Jan 21, 2007)

the bad thing about the rebates is it once again encourages people to get back out and spend, spend, spend. most people are tapped out in home equity and credit card debt, so this will only be a one time shot in the arm and then back to reality. many folks, if they are smart, will simply pay down some of their CC debt. naw.......the will blow it asap!

like a bad drug, the government is giving us another injection.... :eyeroll:


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## hunter121390 (Nov 7, 2006)

cwoparson said:


> > Humm I still think you should have got it all back
> 
> 
> I think if Daddy claimed him as a dependent he wouldn't get it all back and that would explain why he gets no rebate check. However Daddy will get $300 for him. The $600 tax refund he received was most likely calculated as over payment starting after the $5,350 income cut off for those under 18 and being claimed as a dependent. So in reality you are getting a $300 rebate, but in your parents name. Had your parents not claimed you as a dependent you would get a $600 rebate but I'll bet your parents saved far more on their taxes than the higher rebate you would have received. Ask your folks, maybe they will give you that $300 they will get back for you.
> ...


my dads a greedy p**ck. i won't see it. and ya he did claim me. and i asked him for the money for claiming me and he wouldnt give it to me.


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## dblkluk (Oct 3, 2002)

> my dads a greedy p**ck. i won't see it. and ya he did claim me. and i asked him for the money for claiming me and he wouldnt give it to me.


Hahaha...And he shouldn't give it to you.

I bet that same "greedy prick", puts a roof over you head and puts food on your table.
I think $300 a year is pretty cheap for room, board and every other thing he takes care of for you.

Welcome to the real world son.


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## hunter121390 (Nov 7, 2006)

all he supplies is a roof over my head. i supply food, clothes, school fees, everything. the only thing he supplies is a roof over my head, and i even help with that.


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## FlashBoomSplash (Aug 26, 2005)

> many folks, if they are smart, will simply pay down some of their CC debt. naw.......the will blow it asap


This I agree with.



> like a bad drug, the government is giving us another injection....


This I do not agree with. The government is giving every one an *EQUAL* opportunity to pay down their debt or buy things that are needed. If someone blows it all thats there fault and they deserve what they get. Just like every foreclose over the past couple of years. Only an Idiot would get an adjustable rate mortgage to buy a house. It proves every thing I have ever learned in life if you cant afford it you dont buy it. But know everyone wants everything now and they dont want to have to earn anything.


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## cwoparson (Aug 23, 2007)

Well, it appears to me you are confused as to who the real prick in the family is. Trust me, or not if you wish but there will come a day when you will cry over those words.


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## maanjus11 (Nov 17, 2006)

I really think this rebate check we're getting isn't going to do anything for the economy. If you think about the people who are truly maxed out in home equity or have serious credit card debt, we aren't talking about debt in the hundreds, we're talking thousands. Granted the money may help for a couple of months with people paying minimal payments on their debt but that is like one person said on here, "only a one time shot in the arm." Don't get me wrong, I'm looking forward to receiving that $600 and feel it's a substantial amount of money. I'm just hoping the people making the decisions know more about our economy than us wary citizens!


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## hunter121390 (Nov 7, 2006)

ya ik most likely.


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## cwoparson (Aug 23, 2007)

I may be wrong but it seems to me some don't understand how the rebate is suppose to help the economy. Whether you spend the rebate buying shoes, rifle scopes, TV's or what ever, the idea is for you to spend the money to boost the economy. If you bank it that's no help. If you pay on debts that's no help as that money is already spent into the economy as are credit card debts. So going out and blowing the money is the goal of the government. However as proven in 2001, rebates don't work because people don't put the money in the direction the economy needs.


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## Bgunit68 (Dec 26, 2006)

What do you mean the will blow it as soon as they get it? I've already spent mine. I'm getting a hard Tonneau for my truck. Keep all my hunting and softball stuff locked up so I don't have to take up the whole back seat with my crap. Believe me the last two people you can blame for the economy is my girlfriend and I. She spends is as soon as she gets it. One example, she has purchased 39 Coach Pocketbooks in a little over 5 years with the wallets, shoes and boots to match. One pair of boots we got for half price. They were only $350. LOL. I just spent $140 on a good pair of Camo Irish Setter Hunting Boots and I felt guilty. I always wanted a pair and it's really hard finding size 16 in boots let alone camo boots. But I digress&#8230;It gone!


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## hunter9494 (Jan 21, 2007)

well, i guess the governments theory is "we spent our way into this mess, so maybe we can spend our way out of it?"

sorry, that doesn't make any damn sense to me. the only way to get this country and people economically right is to teach them to save and live within their means.....like i said, "free money" and credit cards are addictive...sometime very soon, i am afraid we WILL have to pay for this.
and the end result will not be a simple econimic slowdown..more like crashing into a wall!


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## cwoparson (Aug 23, 2007)

This is not about the national debt, not about peoples debts, not about peoples credit, but about businesses staying afloat, especially small businesses. The idea is to take your tax money, give it back to you, you now have a little extra to spend, you spend it and the economy (businesses) stay afloat and support jobs. You pay on your personal debt or bank it and the rebate will be for naught. It would work if everyone does what the government wants you to do. Unfortunately most people don't. You're thinking apples and oranges.


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## hunter9494 (Jan 21, 2007)

ah, beg your pardon? it sure IS about the national debt and your future taxes. if you think you won't have to pay the government back, in one way or another, you are sadly mistaken.

our dollar is worthless now, takes $1.55 to buy one euro. the euro is a strong, recognized global currency. it is just such actions by our elected officials to throw more dollars into the fire that causes our money to be shunned by other countries.

that is purely why the price of oil has risen, on average, $1 a day for the past 12 days.....our currency is worthless and oil as a commodity is a hedge against the weakening US dollar, so oil gets bid up on the open market and viola......instant freaking inflation that is running rampant through our economic veins.....another "fix" is not the answer, just makes us feel "high" again for a little while, then bump goes our *** against the ground.

we are trying to put off the inevitable economics of normal expansion and contraction, only this one is mainly brought on by the cheap dollar, sponsored by your friend the Fed and some crooked bastards that made a killing in the mortgage industry.

like any bubble, the longer we put this off, in hopes we can artificially stimulate the economy and prop up the phony institutions that have washed out, the more pain, REAL PAIN, we will experience when the Fed runs out of tricks.....the trick bag is almost empty now.......hang on.


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## cwoparson (Aug 23, 2007)

Again, you're off target. The Presidents plan for the rebate included where to cut spending to pay for the rebate. If taxes are raised to pay for this, then congress did not cut as required and congress is where the blame should be laid. Put McCain in office and you won't see a tax hike. So taxes going up is nothing more than a guess on your part as far as paying for this rebate is concerned. Here, some good reading that is food for thought.



> *"Weak Dollar: Cause for Celebration, or Despair?*
> 
> How does the dollar's free fall on world currency markets affect you? That depends on who "you" are. Below is a guide to whether a weak dollar is cause for celebration - or despair.
> If You Are ...
> ...


Just a little more.



> " The dollar is in free fall, or so it seems. In 2002, you could buy a euro for 86 cents. Today, it will cost you $1.40. You'd have to go back at least a decade to find a time when the U.S. dollar was so weak. Against some currencies, such as the Canadian dollar (the "loonie"), you'd have to go back 30 years. It sounds ominous, but is a weak dollar really so terrible?
> 
> Not necessarily. A weak dollar can be good for the U.S. economy, because it makes American exports cheaper and, therefore, helps close the trade deficit. But over the long term, the value of a country's currency is seen as a verdict on the overall health of its economy.
> 
> ...


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## hunter9494 (Jan 21, 2007)

nope, wrong again...i am on target, problem is the government wants you to THINK they are on target.

the real issue is 1) this rebate will be nothing more than a fart in the wind.
fact is, a lot of this money just may end up paying down credit card debt, so nothing is gained. 2) you are totally missing the point about pumping dollars into the economy and inflation...you need to check your bill at the gas pump, grocery store, pick a commodity...tires. motor oil, lead shot, shotgun powder, etc. you are paying a lot more for it now and you will pay a lot more for it later, all due to the financial policies of the Fed...

enjoy your rebate.

also take a read on the topic i posted, inflation vs. recession, it may help you to understand better...be careful for what you wish for.....


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## cwoparson (Aug 23, 2007)

> problem is the government wants you to THINK they are on target.


I don't know what the government wants me to think and neither do you. What i quoted was not from a government site but the words of a economist.


> the real issue is 1) this rebate will be nothing more than a fart in the wind.


No one said it was a cure except for those thinking the sky is fallen.. It's just a boost. That's why it is called a stimulus.



> fact is, a lot of this money just may end up paying down credit card debt, so nothing is gained.


I've already said that, twice.



> you need to check your bill at the gas pump, grocery store, pick a commodity...tires. motor oil, lead shot, shotgun powder, etc. you are paying a lot more for it now


No kidding. You don't think the price of gas which increases the cost of delivery had anything to do with that. Something by the way that the government has very little control over. This was all forecast over a year ago so why the big surprise.



> and you will pay a lot more for it later, all due to the financial policies of the Fed...


I'm 60 years old and I've heard that same cry every since I can remember. Funny thing is I can't remember a singe year that the cost of everything did not increase at least to some degree. We've had worse times in the past. Maybe you don't remember the Carter years. Get use to it, it's part of life. Constant complaining will resolve nothing.



> enjoy your rebate.


I intend to.



> also take a read on the topic i posted, inflation vs. recession, it may help you to understand better...be careful for what you wish for


I believe my understanding is just fine and as far as I know I haven't wished for anything in particular. Apparently you didn't enjoy the quote I posted or didn't read it. I thought it was fairly informative. I get the impression that all you want to do is complain without looking around you at the big picture. Maybe I'm wrong but you have a good day anyway.

As a side note, though I don't endorse his shows I watch Hannity do a one hour interview with McCain tonight. Very good interview. Hope a lot of people saw it.


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## R y a n (Apr 4, 2005)

cwoparson said:


> I believe my understanding is just fine and as far as I know I haven't wished for anything in particular. Apparently you didn't enjoy the quote I posted or didn't read it. I thought it was fairly informative. I get the impression that all you want to do is complain without looking around you at the big picture. Maybe I'm wrong but you have a good day anyway.


Nope I think you are making a correct assessment Cwoparson.
I think our friend here is just around to
:stirpot:

Or so it seems to me...


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## hunter9494 (Jan 21, 2007)

just knowing what we face and how the economics works in this country is valuable information, unless you just chose to turn your head or bury it in the sand, which will generally only get your *** run over, as you can't see the truck coming and move out of the way.

today the Fed and JP Chase bailed out Bear Stearns and wall street **** it's pants. a huge investment bank failing is a pretty big deal, but there may be even more fall out, time will tell.

either way the Fed is screwed and they are scrambling to re inflate our money supply, by buying worthless securities from big investment brokers for up to $200 billion to now helping BS, to the tune of how much, we don't know.

as long as they can keep printing money, they figure they can deal with the crisis. trouble is foreigners don't want the greenbacks anymore and foreign investment money is quickly drying up in this country, so we will need to print more paper.

i would say Bernanke is out of a job come January 2009.

just helps to prepare for what is coming down the road, unless you just don't care. have fun boys.

http://www.msnbc.msn.com/id/23616851/
http://finance.yahoo.com/expert/article ... ABX727YWsA


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