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Who's gotten their stimulus payment so far?


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I got mine already. I've used half of the money to set up an active investment account and invest in gold. It's nice to know that I'll have a little head start on those who have to wait for their checks in the mail... my money is going to backed by the full faith and credit of... gold from here on out (well maybe like 10% of my money).

I'm sure that's exactly what our government had in mind when they decided to give me a tax-rebate (that will be taxed again in a year).

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Well my wife and I both got notices yesterday from IRS...My wife's said she should see her's on May 16th, Mine said May 23.

Well she just called IRS, since we owed we get no check!

Talk about playing with our emotions. We had bedroom furniture picked out! :doh:

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  • 2 weeks later...

Tax rebates fail to spark consumer spending

May 30, 2008

Bloomberg News

U.S. personal spending slowed in April after record fuel costs, a slump in home values and a deteriorating job market hammered consumer confidence.

The 0.2 percent gain in spending followed a 0.4 percent increase in March, the Commerce Department said today in Washington. Incomes grew 0.2 percent, bolstered in part by the government's tax rebates. Separate reports showed business activity dropped for a fourth month in May and consumer sentiment decreased to the lowest level since 1980.

Retailing stocks slumped after the figures reinforced forecasts for spending growth to slow this quarter to the weakest pace since 1991. J.Crew Group Inc., the casual-clothing retailer, reduced its earnings forecast late yesterday, citing a nationwide drop in the number of shoppers visiting its stores.

"Consumers are spending cautiously," said Michael Moran, chief economist at Daiwa Securities America Inc. in New York, who correctly forecast the gain in spending. "The economy is in a grey area between recession and slow growth."

Treasuries rallied, sending benchmark 10-year note yields down to 4.03 percent at 9:55 a.m. in New York, from 4.08 percent late yesterday. The Standard & Poor's 500 retailing index dropped 0.8 percent to 401.27.

The Federal Reserve's preferred measure of inflation, which excludes food and fuel costs, slowed in April, today's Commerce report showed. The gauge rose 0.1 percent, compared with a 0.2 percent increase the previous month.

The Reuters/University of Michigan final index of consumer sentiment decreased to 59.8, the lowest level since June 1980, from 62.6 in April. The measure averaged 85.6 in 2007.

Deteriorating confidence indicates that government tax rebates may only provide a temporary boost to economic growth in coming months. Economists forecast consumer spending gains will slow to a 0.5 percent annual pace this quarter, the weakest since 1991, from a 1 percent pace in the first three months of the year.

Click on the link for the full article

BTW, I haven't gotten mine yet, but if it is $1800 as it is supposed to be, then I will be stimulating the economy with the purchase of an LCD HDTV.

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Well my wife and I both got notices yesterday from IRS...My wife's said she should see her's on May 16th, Mine said May 23.

Well she just called IRS, since we owed we get no check!

Talk about playing with our emotions. We had bedroom furniture picked out! :doh:

We also got a letter that said ours would be here today. Also didnt get it. We also owed but paid it in full already. Think they were just messing with our minds too?

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