Saturday, November 22, 2008

Obama Reveals Parts Of Economic Plan

Fuck yeah.  Read the article here.  Excepted below.
“We’ll be working out the details in the weeks ahead, but it will be a two-year, nationwide effort to jumpstart job creation in America and lay the foundation for a strong and growing economy,” Mr. Obama said. “We’ll put people back to work rebuilding our crumbling roads and bridges, modernizing schools that are failing our children, and building wind farms and solar panels, fuel-efficient cars and the alternative energy technologies that can free us from our dependence on foreign oil and keep our economy competitive in the years ahead.”


Anonymous said...

Jakegint won't be impressed.

Anonymous said...

In fact, he'll be pissed.

Dinosaur Trader said...

Exactly, and that means we're back on the right track!


Sanglucci said...

yeo DT I came out here to vegas for a while there was this traders expo and guess who had a freakin booth. Ya boi timmay! Mr. Sykes pipin his damn books and DVD's and shit. Yeo real talk that dood is a funny ass dood man. He had a damn convoy with em too. There was like 8 people there at this booth jus there to tell people who tim sykes is and his successes shit was HILARIOUS. Can't knock the hustle the boi is doing his thing tho.

Dinosaur Trader said...

That Tim Sykes dude writes me almost every day asking me for stock picks.

At least my blog is almost in his top ten... maybe now I'll finally get a couple hits from him.


Anonymous said...

You're so easily pleased, it is almost cute.

“We’ll put people back to work rebuilding our crumbling roads and bridges

Last time I checked, this is what federal and state fuel taxes are being used for now.

I guess he can raise the federal tax a bit to raise more revenue, but once it is distributed to 50 states plus territories and spent on thousands of earmarks, then the overall impact will be small.

Don't get me wrong, I'm sure we'll get more butterfly or apple museums, but construction of new roads and bridges will progress at the same rate they are now, mostly due to federal rules and regulations that dramatically slow down major construction projects.

Also, since people are just now getting over fuel pump sticker shock, I doubt there will be much support for increasing the fuel tax.

When the official plan is released, read the fine print. My guess, the billions he plans to spend on infrastructure will be the same billions that are currently being collected and spent on infrastructure, but they will be in a different wrapper with "new & improved" printed on the outside.

modernizing schools that are failing our children

Wow, didn't know inanimate objects like "schools" could fail kids.

If he is talking about using federal dollars to pay for local school repairs and rehab, then no thanks. Just because the flunkies managing Chicago's schools can't take care of what they have is no excuse for making everyone else in the country pay to fix their mistakes.

Their city, their schools, their problem, use their money. Besides, I'm already paying for the remodel and expansion of my local schools, so I'd rather not pay for yours or theirs.

Now, if he is talking about using the power of the federal government to break the teacher's union, then I'm on board because I think we could make some great strides forward in educational quality.

...and building wind farms and solar panels, fuel-efficient cars and the alternative energy technologies.

That's nice. We're already spending billions of dollars on research and development on alternative energy projects (search the DOE's website), plus the assorted tax credits and subsidies that alternative energy companies need to survive.

I suspect a large sum of money will be thrown into a bill in the form of tax credits, but don't expect a revolutionary change in the nation's overall energy profile.

As I've mentioned before, the technology isn't ready for prime time, but it doesn't hurt to continue feeding the R&D beast for awhile.

In short, if you're objective about this, and I know you're not because you operate on "feelings", it is pretty obvious that there is nothing new here.

Take what is already being spent, put it in a new package, add a personal touch to it, maybe boost the spending by a billion or two, then sell it to the public as new and revolutionary.

The gullible will get a tingle down their leg, while the rest of us will simply roll our eyes and go on with our lives knowing that ultimately, the consumer and not a politician, will determine whether any of the alternative energy projects will meet with ultimate success.