Ben Berrnanke doesn't want you to take a raise this year*

[Guest WhackingCockDick]

Glad you're doing well enough in the recession that you can afford to symbolically not spend money and show off your bold position to, well, nobody in particular, huh./

[Edwin MacPhisto 0]

To us!

[HollywoodSpikeJenkins 0]

A .2% interest savings account? Why even bother?

[EricMM 0]

He's trying to make A Point.

 

Probably another nugget of wisdom from Beck.

[Guest WhackingCockDick]

"No. I don't want your pity or your money."

"...usually, when you say that, you give the money back."

"I do what now?"

[At Home 0]

So then, pbone, why are you making me out to be some bleeding heart when I'm telling you that without assistance, financial institutions are going down, and dragging all of us down with it?

 

I don't know how to continue to respond to you. You told me that I wanted to watch people suffer (untrue), and I turned that around on you and asked how you wanted to wildly throw money out at fools (also, untrue)?

 

It's also not true that bailing people who get fucked in these subprime mortgage deals will prevent economic disaster. Because that's the kind of situation Japan's economy is in right now, and it is about as fragile as ice. After the 80's boom in Japan, lots of people and businesses went under, but the government bailed them out, so right now, there's a giant populace of totally ineffective and, moreover BANKRUPT businesses as well as people. Their economy could completely collapse in a matter of days.

 

Eric, do you understand what a business cycle is? Do you understand that in a recession, some institutions have to go under? Of course they're going to pull us down. A recession tends to do that.

 

My parents aren't millionaires. They're successful realtors, but they get to feel the crunch just like everybody else.

[MarvinisaLunatic 0]

Marvin you're ridiculous.

 

If you were against the welfare check, you shouldn't have cashed it.

 

If you did cash it, you should use the money...somehow...

My check was direct deposited into my regular checking account so I didnt have any say in the matter. I had originally thought of donating to a charity but there wasnt a specific charity that I had any confidence in them spending the money wisely and getting the most out of it.

 

A .2% interest savings account? Why even bother?

 

I could have put it in a savings account online that got 3% but it seemed wrong to say "Im not spending the money" and then be earning interest on it. At this rate, its only about $1.20 a year in interest and thats neglible at best.

 

As far as how Im doing in this "recession" (I thought it still wasnt officially a recession?) There are some factors contributing to how Im not feeling it as much as other people but it pretty much comes down to my job (3 days a week, only 7 miles away) and my car which gets 40 mpg. Oh, and I've got 3 seperate savings plans (401k, vacation savings account and a regular savings account) and no credit card debt.

 

 

 

 

[snuffbox 0]

Give it to Hopkins. They need it.

[At Home 0]

My check was direct deposited into my regular checking account so I didnt have any say in the matter. I had originally thought of donating to a charity but there wasnt a specific charity that I had any confidence in them spending the money wisely and getting the most out of it.

 

Did anyone miss this?

[EricMM 0]

People fund.

 

pbone I just think we're miscommunicating, I say drop it.

[At Home 0]

Okay.

[HollywoodSpikeJenkins 0]

I really have no response other than Marvin is an idiot.

[Jingus 0]

I had originally thought of donating to a charity but there wasnt a specific charity that I had any confidence in them spending the money wisely and getting the most out of it.

Did anyone miss this?

Those damn partisan embezzlers at the Red Cross ain't getting his six hundred bucks, bah gawd.

[dubq 0]

Marvin, this entire thread is making you out to look like a colossal asshole. You should really stop posting.

 

Also - Of all the American spellings I hate "checking" the most.

 

EDIT: I was also going to post this point in General chat.. but I'm not sure if the people I want to see it will see it.. because I know they frequent CE more often.

 

Anyway, as a Canadian.. some of us get this GST rebate. A rebate on the Goods and Services tax.

 

Only.. the thing is, is once you make more than a certain amount, you don't get it. I do not receive the rebate because I make too much to "qualify" for it.

 

..and that's what I don't get. Why don't I get it? I make more money, and therefore I pay more tax.. so why the hell shouldn't I get this rebate??? o_O

 

I'm honestly curious if anyone knows the governments reasoning for this. It's not the money I'm losing out on that bothers me, but the principle of it.

[Guest Vitamin X]

Of course the smart thing to do would be to stash the $600 in, say, a CD account or some other kind of investment of some sort that would actually make a return. But this is Marvin we're talking about here, so of course we'd figure he'd go for the dumbshit money-market account. Dude, seriously, what the fuck.

[MrRant 0]

Well, with the interest rate cuts, CDs aren't paying out that well either.

 

Better than a savings account of course.

[Edwin MacPhisto 0]

No, remember. Marvin doesn't want to use this money he accepted, so he's putting it wherever gives him the least return in a symbolic gesture that's actually flawed in several ways.

 

Marv: I'll buy your stimulus payment off you.

[Guest WhackingCockDick]

Now wait just a cotton-picking minute, Marvin. You're TSM's most famous owner of a bum ticker and at no point did it ever cross your mind that you could donate this money to the American Heart Association? Give me your $600 and I'll find a worthy charity on my goddamn block.

[EricMM 0]

-1 Troll Rating for Marvin

[PUT THAT DICK IN MY MOUTH! 0]

My check was direct deposited into my regular checking account so I didnt have any say in the matter.

 

Why didn't you withdraw it and burn the cash on the steps of the capitol or something? That'd send a real message to those Washington fat cats.

[Guest WhackingCockDick]

-1 Troll Rating for Marvin

Bob Barron's inevitable advocacy is the only thing keeping me from jettisoning this guy, to be perfectly honest.

 

I see a correlation between the predatory lenders and the horseshit-spewing military recruiters.

Right on. There's a special corner of hell for both of these groups.

[DARRYLXWF 0]

the guy that runs the Federal Reserve said this..and he must obviously know a lot more about the economy than all of us combined or else he wouldn't have that position..

 

*cough cough*

 

 

And honestly, if you make minimum wage, I don't think the failing economy is going to hurt you that much. If you were making $7 two years ago at Burger King, chances are, you're still making $7 at Burger King now.

 

$7.25 next July.

 

The main thing that pissed me off about the article is that someone who works hard to try and get a raise is being told "You shouldn't ask for/take a raise this year to help the economy" and yet the government just gave people who don't do anything to try and improve their situation 2 70 cent raises and another 70 cents in 11 months. If getting raises is going to hurt the economy so much, why don't they put that last 70 cent minimum wage increase on hold?

 

As an economics student, let me take a guess on this question:

 

 

The minimum wage is a government mandated wage. The market doesn't control it. Bernanke is concerned with market wages, which have the potential to spiral upward if several industries receive wage rises (one job sector sees another job sector getting a wage increase, so now they want a wage rise too, etc). This scenario cannot happen to a minimum wage, which is fixed at the will of the government and is not susceptible to market forces.

[tonyjaymzretro 0]

My check was direct deposited into my regular checking account so I didnt have any say in the matter. I had originally thought of donating to a charity but there wasnt a specific charity that I had any confidence in them spending the money wisely and getting the most out of it.

 

Marvin, you want a good charity? Send the money to me...I'm barely able to pay my college bills and could use that 600 dollars

 

not even joking...if you're looking for a charity, consider a poor Baltimore student.

[tonyjaymzretro 0]

I see a correlation between the predatory lenders and the horseshit-spewing military recruiters.

Right on. There's a special corner of hell for both of these groups.

 

You know the worst part? For every 9 bullshit con artist recruiters, theres 1 recruiter that is actually trying to help the recruit. The con artist bullshit overshadows anything good that 1 guy does, unfortunately.

 

A little off topic, but just figured I'd throw my first hand experience out there