Sub-prime Bail Out

[Shawnee123]

Originally Posted by tw

You will need a new tech TV by Feb 2009.

~snip

There will be converter boxes for non-digital TVs.

[glatt]

Originally Posted by Shawnee123

There will be converter boxes for non-digital TVs.

So they say. I haven't seen any on the market yet, and I've looked (a little.)

[lookout123]

they'll make them available. they aren't stupid enough to think we'll all just pony up for the new tech, when some kid will sit in his mom's basement and figure out how to make a box and start selling them on the street. they'll want the income from the converters that will be made either legally or illegally.

[tw]

Originally Posted by Shawnee123

There will be converter boxes for non-digital TVs.

Converters were also defined almost 10 years ago when all this was required and when conventional (VHF) TV was slated to be turned off in 2006. Converter boxes were supposed to be made available for $100 with government subsidies. However all this (and Zenith for which much of this was created to protect) are gone, missing, or not discussed.

Meanwhile, most of those HD TVs are a complete insult to me. Instead of receiving a true HD signal, they just widen the screen (make faces fatter) and promote "LOOK! IT’s a BIGger Screen!". No. A true HD picture means that when the Eagles are being taken apart in the Super Bowl, then you can see why on every play as Eagles receivers downfield are being embarrassed. Currently, the low resolution screens still on HD TVs only tunnel in the line of scrimmage. (Those not in N America will have to guess what was just written.)

See also the controversy between HD and Blu-Ray DVDs to appreciate how few facts actually get out to the public due to political correctness and the number of people who know only from what retailers tell them. "You cannot be trusted to know the truth." They get away with it because so many of us don't ask, "Why?" Why are those converter boxes not everywhere? What happened to the government subsidies?

Another question: why are TV receiver circuits so insensitive as to all but require Cable service? And why is this relavent to mortgages?

[kerosene]

I have a solution for the TV...throw it away.

[tw]

Returning to the topic: Bernanke (Federal Reserve Chairman), in testimony to a joint (Senate and House) committee, said that stagflation is back.

Stagflation was created when government was spending massively, government debts increases, oil prices rose to prices well in excess of $5 per gallon (in today's money), the dollar dropped massively, massive debts from Vietnam were coming due, jobs eventually were lost, GM, Ford, and Chrysler made cars so crappy that one always would not start every cold winter morning in the parking lot, mortgages were hard to obtain, the US 6th fleet at one point could not even put to sea due to fuel shortages, housing market crashed, gold rose to record dollars per oz., heavy machine operators would make best money driving construction equipment onto ships as so many American business were selling off capital equipment just to survive, copper prices increased by a factor of ten, accountants (bean counters) were in great demand while engineers (innovators) had trouble finding jobs, violent crimes increased (as anyone in Philadelphia what the lead news story has been most every night for the past two weeks), the third largest industrial base in the world (US overseas owned businesses) were being sold off completely to pay for America's debts, government was lying about environmental laws and enforcement, that light at the end of the tunnel was finally considered fiction (ie "Mission Accomplished"), and - how curious - the president was a crook AND a liar. Deja vue?

Bernanke has a problem. Core inflation numbers imply near zero inflation. However those numbers exclude things like energy (oil) and food. Two years ago, what $20 once bought in the grocery store now costs almost $30. But there is little inflation? Only according to the official government numbers. We know how honest this government (dominated by wacko extremists) is.

The Fed must raise interest rates to combat inflation? It cannot. According to Bernanke, a recession is a real possibility. So the Fed must lower interest rates? They already did that with prime rates as low as 1% when the threat of recession was less. Having lowered rates too low to make a 2003 economy look good, well, economic forces are now conspiring to take revenge for the easy money.

Nothing suggests stagflation will approach 1970s pain. But then how many here were 16 or older in the 70s? I suspect half in The Cellar have little grasp of anything but a Roaring 20s economy.

Bernanke’s dilemma: This economy has been in a slow destruct mode as America even entered a war that would only cost $2billion and it now created more anti-America uprisings even in S America. How many appreciate why this author has been so appalled for so long? How many know that tw was never even partially aggressive critical of politicians until George Jr came forward to lie routinely? Welcome to the George Jr economy which we will have to pay for in the next ten years.

In 2000, Bill Clinton left America with a $260billion surplus. George Jr quickly turned that surplus into a deficient that had increased to as much as $400 billion. As Cheney said, "Reagan proved that deficits don't matter." Welcome to what those who voted for George Jr were really voting for. This debt created when the economy was at its best - when surpluses are supposed to be created. No decent American has a kind thing to say about this scumbag president. Tw has never (UT, et al should confirm this) in what - 20 years - ever been anywhere near this critical of any leader.

Welcome to what may be the start of stagflation according to Fed Chairman Bernanke.