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(Houston Chronicle)   To everyone's complete surprise, stimulus checks fail to spark consumer spending   (chron.com) divider line 412
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15803 clicks; posted to Main » on 30 May 2008 at 2:33 PM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2008-05-30 06:28:17 PM
I used mine on gas and groceries. Looks like it'll be another year before I can eat and drive again. Boy, that was a fun weekend.
 
2008-05-30 06:29:35 PM
I suspect that many of the people who most needed to pay down credit card debt probably used the check to buy TVs and things, and many of the people who least needed to pay down credit card debt did exactly that.
 
2008-05-30 06:42:43 PM
Layzerd: The big box guys make their money on volume...thus the 'lower price'.

The Big Box stores offer, or at least offered 2 years ago, employee discounts of 50% off on a lot of electronics products, which basically figured to cost + 10%, ergo 100% markup.
 
2008-05-30 06:43:24 PM
$600 dollars. They gave you each $600 of your own money.

They literally took your money, handed a pittance of it back to you, and said "Be grateful!"
 
2008-05-30 06:45:37 PM
I burned mine in protest of Bush's failed policies....


...(burned in my bong)
 
2008-05-30 06:46:49 PM
LavenderWolf: $600 dollars. They gave you each $600 of your own money.

They literally took your money, handed a pittance of it back to you, and said "Be grateful!"


HA! If only that were true. They took $600 of their money, SPENT IT, then borrowed $600 times some number of millions and said "here, take this money we borrowedand be grateful. hope you don't consider the interest payments on the debt"
 
2008-05-30 06:55:47 PM
So what I should do with my rebate check is buy some of the bonds that they issued to give me the rebate check, right?

That's just so bizarre. Here, I'm going to take your $600 in taxes, but then I'm going to give it back to you. Then I'll take it back again and give you a promise to return ~$620 in a year, at which point I'll take back that $600 I refunded in the first place for the next year's taxes.

Oh well, I didn't actually get a rebate check anyway.
 
2008-05-30 06:59:01 PM
I used it to buy 100 cups of coffee

/those who don't learn from history doomed to repeat it, etc. etc.
 
2008-05-30 06:59:54 PM
Yep. Mastercard.
 
2008-05-30 07:01:11 PM
Farkette_Gone_Wild: Put mine in a money market account.

So that inflation can outpace the rate of return?

Good thinking.

/it's the coffee talking
 
2008-05-30 07:01:39 PM
"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."

Alexis de Tocqueville
 
2008-05-30 07:07:00 PM
MusicMakeMyHeadPound: Farkette_Gone_Wild: Put mine in a money market account.
So that inflation can outpace the rate of return?
Good thinking.
/it's the coffee talking


$610 in 2009 is better than $600 in 2009, even if it's still less than $600 in 2008.
 
2008-05-30 07:09:35 PM
You're a Mean Drunk R2D2: MusicMakeMyHeadPound: Farkette_Gone_Wild: Put mine in a money market account.
So that inflation can outpace the rate of return?
Good thinking.
/it's the coffee talking

$610 in 2009 is better than $600 in 2009, even if it's still less than $600 in 2008.


Buy gold. Even with taxes, you're still probably better off.
 
2008-05-30 07:12:47 PM
tumba00: We spent all of ours on Spam

I work at Hormel Foods so I am getting a kick out this reply.
 
2008-05-30 07:13:04 PM
Jeffrey.Rodriguez: Buy gold. Even with taxes, you're still probably better off.

I'm not sure if buying gold for the short term at this exact moment is a good idea, I suspect that ship may have sailed. Lots of people started expecting inflation six months ago and started buying gold, driving the price up. I could be wrong though.
 
2008-05-30 07:13:37 PM
sayntfuu: I work at Hormel Foods so I am getting a kick out this reply.

Your Chili rocks.
 
2008-05-30 07:19:22 PM
You're a Mean Drunk R2D2: I'm not sure if buying gold for the short term at this exact moment is a good idea, I suspect that ship may have sailed. Lots of people started expecting inflation six months ago and started buying gold, driving the price up. I could be wrong though.

This is true. About 3 or 4 months ago, this would have been a good idea. The dollar is actually fairly stable right now (low, but stable), so the price of gold is generally going to be stable as well.

People that didn't shift their retirement accounts into precious metals at least 4 months ago are probably really pissed though. Now is about the time to shift back into other markets.
 
2008-05-30 07:27:11 PM
You're a Mean Drunk R2D2: $610 in 2009 is better than $600 in 2009, even if it's still less than $600 in 2008.

Are we still talking about that?

/coffeecoffeecoffeecoffee
 
2008-05-30 07:30:27 PM
In other news, IRS fails to give me my stimulus payment altogether.

/does that mean i'm gonna be audited?
 
2008-05-30 08:03:21 PM
I put my 600 on PokerStars. Down to 562.80.

:(
 
2008-05-30 08:07:40 PM
img260.imageshack.us

Just because it needs to be seen by more people.
 
2008-05-30 08:10:48 PM
I had a sprinkler system put in the front and back yard.

I was in Iraq and didn't pay any taxes.

My wife took 6 months off of work after our son was born.

So, thank you all for my new sprinkler system.

/Oh, alright, you can run through it.
 
2008-05-30 08:15:57 PM
I'm totally going to get a handjob at the local massage parlor.
 
2008-05-30 08:21:17 PM
theorellior:

You talk purty

No check for me either!
 
2008-05-30 08:56:30 PM
That's only because I haven't gotten mine yet.
 
2008-05-30 09:07:30 PM
katghoti
Used mine to buy a copy machine to make more money. Now I have 100 billion dollars to do what I want. Take that Uncle Sam!

www.solarnavigator.net
/evilly hotlinked
 
2008-05-30 09:07:31 PM
What is this $600 b.s. they speak of?

I only got back $375 in stimulus. Used the paltry amount toward my $325/mo. student loans for a degree I'm not using. Sent the difference to Visa, along with the rest of my refund.

/Wish I wasn't $50K in student loan debt
//Was stimulating the economy eight years ago, but should have quit when I only had less than $10K in undergrad loans.
 
2008-05-30 09:07:35 PM
sarcastrophe: sayntfuu: I work at Hormel Foods so I am getting a kick out this reply.

Your Chili rocks.


Wow and I just got done adding you to my favorites for the Objectivist conversation with abb3w.

You get coupons.
 
2008-05-30 09:07:39 PM
I wanted a TV but now I'm too farking broke.

/mmmm flat screen
 
2008-05-30 09:08:30 PM
My stimulus check did save my ass from getting evicted, but thats only because my roomate bailed on my without notice and I had to cover his half of the rent. I didnt spend it on anything fun but at least I'm not living on the streets. Next month I'm not so sure about.
 
2008-05-30 09:09:51 PM
bongmiester: that's because they can only track legal purchases

you win.
I thought the same thing when I saw the headline...

/not admitting to what I did with my stimulus check.
 
2008-05-30 09:15:18 PM
Yeah...I want a brewing kit, but I know it's going to next months Visa and student loan payments, almost to the last penny. Still $300 I didn't have before.

/....no, wait a tick....I DID have it once.
//Guess it's good to have it back, then
 
2008-05-30 09:17:58 PM
I never saw it or heard about it thanks to wifey.
 
2008-05-30 09:27:13 PM
My Korean parents spent their check on an HD TV. We don't even watch TV; they just want a flatscreen status symbol.
 
2008-05-30 09:29:23 PM
Here is where a good portion of ours will go....


i194.photobucket.com
i194.photobucket.com
i194.photobucket.com


Would'nt trade 'em for anything though.
 
2008-05-30 09:43:39 PM
Bullshiat. I am putting girls through college....

www.quizlaw.com

The money they spend on tuition and books should rebound through the economy.....
 
2008-05-30 09:43:45 PM
Last two SSN digits: Payments will be mailed no later than (and received a few days after):
00 through 09 May 16
10 through 18 May 23
19 through 25 May 30
26 through 38 June 6
39 through 51 June 13
52 through 63 June 20
64 through 75 June 27
76 through 87 July 4
88 through 99 July 11" [1]

[1] http://www.irs.gov/irs/article/0,,id=180250,00.html

I don't think that's correct,....my last two digits are 24 and my stimulus check was deposited into my account on May 9th.
 
2008-05-30 09:49:20 PM
BuzzBoy: Last two SSN digits: Payments will be mailed no later than (and received a few days after):
00 through 09 May 16
10 through 18 May 23
19 through 25 May 30
26 through 38 June 6
39 through 51 June 13
52 through 63 June 20
64 through 75 June 27
76 through 87 July 4
88 through 99 July 11" [1]

[1] http://www.irs.gov/irs/article/0,,id=180250,00.html

I don't think that's correct,....my last two digits are 24 and my stimulus check was deposited into my account on May 9th.


Direct deposit went out before paper checks.
 
hej
2008-05-30 10:13:24 PM
Haven't received my check yet. I am guessing this is the case for alot of people.
 
2008-05-30 10:15:10 PM
sarcastrophe: From those of us that didn't get a check, yet consistently pay more in taxes...

You're welcome, asshats.


My folks raised me right- thank you, kind sir! You will be pleased to know I paid off a debt- at fifty cents on the dollar.

Tucked the remainder in savings- the b/f and I need to move.

And honestly, I think America will weather our coming perfect storm of recession better than a lot of folk think- most of us remember how to live poor, we just HATE, LOATHE AND DESPISE it. But we do remember how...

/not being sarcastic
//really
 
2008-05-30 10:18:14 PM
Spent part of mine on credit card debt and saved a bit for next month's vacation.
 
2008-05-30 10:34:52 PM
I spent mine, alright. I spent it on the increased (almost double) taxes and fees that my county has recently implemented to cover their irresponsible fiscal management now that property values are on the decline and people are appealing their tax bill based on lower assessments. Every penny of my $1,200 check was eaten by this legalized theft.
 
2008-05-30 10:55:55 PM
Still not recieved and part of the first batch. Bleah/.
 
2008-05-30 10:58:31 PM
BuzzBoy: Last two SSN digits: Payments will be mailed no later than (and received a few days after):
00 through 09 May 16
10 through 18 May 23
19 through 25 May 30
26 through 38 June 6
39 through 51 June 13
52 through 63 June 20
64 through 75 June 27
76 through 87 July 4
88 through 99 July 11" [1]

[1] http://www.irs.gov/irs/article/0,,id=180250,00.html

I don't think that's correct,....my last two digits are 24 and my stimulus check was deposited into my account on May 9th.


That schedule assumes you filed early enough that they were done processing your return before April 15th. If you mailed it in on the 15th you had to wait.

/ssn ends in 15 and got mine last week
 
2008-05-30 11:22:24 PM
Jayzus Crusty: Here is where a good portion of ours will go....

Would'nt trade 'em for anything though.



I really should give more money to special needs kids...



/just kidding, calm down... :)
 
2008-05-31 12:05:23 AM
I took my check and went to Vegas for 5 days with my new gf.


Oh MAN did I get laid a lot these last few days....

...THANKS BUSH!!!


/never thought I'd say that.
 
2008-05-31 12:07:54 AM
Buying silver or gold with it sort of gives a really bad joke on the public a happy ending.

Besides we seem to be running a lot on the berserk side with printing up the stuff and devaluing what there is.
 
2008-05-31 12:30:36 AM
amindtat: Part of mine went toward Iron Maiden tickets for my son and me. I'd feel guilty about stimulating the British economy if it weren't for the raping Ticketmaster dishes out.

Sweet, which show? Ohio gig bound here.
 
2008-05-31 12:36:11 AM
Remember that old financial advice about setting aside a small amount of money for a "rainy day"?

Having a few hundred bucks set aside could really help out when stuff happens, like a bad tire, an auto/household repair or other emergency.

It saddens me how many people don't care enough about themselves to do this. It isn't difficult and doesn't require some horrible deprivation. If you set aside just $2 a day (less than a coffe at most places) you would have enough in a year to avoid charging something else to your credit card or having to borrow from friends or "services". And you would feel so much better. That is worth a lot.

Take the windfall check from the gubamint and set the money aside.
 
2008-05-31 01:55:05 AM
Dead Farker Walken: Well, on the bright side, the government probably would have wasted the money had it not released the stimulus anyway.

that's the way to think
 
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