And speaking of stimulus packages, the $US168 billion Bush stimulus one that was passed by Congress in February, resulting in $US600 checks to people in June, did not touch the sides.
As Marc Faber wrote in his June 2008 Boom, Gloom and Doom Report (repeating something he had picked up elsewhere, I’m sure, since he lives in Thailand):
“The federal government is sending each of us a $US600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs.
"If we buy a computer it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy.
"The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I've been doing my part.”
