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Further proof that government stimulus doesn't work:

MenInTights

not a plastic bag
How the $8,000 Tax Credit Cost Home Buyers $15,000 - WSJ.com

Here's a graph of home values from my area, its fairly average for most of America:
Columbia Home Prices and Home Values in SC - Zillow Local Info
From 2008, there is a steady decline in housing value until 2009 when the tax credit was enacted where there is a bump, then a steady decline again that seems to follow the same path had there not been a bump.

Here's the $28 billion dollar question: Who is the recipient of the government stimulus?
The home buyer?- No, he is now $15000 more in the hole thanks to the decline.
The home seller?- At first yes he got more for his house, but he had to also buy another house at inflated values so at best he's even.
The banker? Huh, now this is interesting. The banker gets to write new loans at $8000 higher than they would be w/o the stimulus. He gets to spread that out over 30 years earning a nice little sum per house. He also gets to unload his foreclosed properties for more cash.

So, we the taxpayers spend $28B that does absolutely no good and is an utter failure and the only real beneficiary are the banks that we already gave a few trillion dollars to because they were "too big to fail".

When does all of these become criminal? When do more people decide they've had enough?
 
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