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Current feelings on Obama's Administration and upcoming midterms (pg. 6)
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| Zharen |
To put it bluntly, 's about to get real crazy real quick.
http://www.cnn.com/2010/POLITICS/11...dex.html?hpt=T2
| quote: | Obama said Wednesday that one of the toughest things about Tuesday's election was seeing members of Congress who made tough and politically unpopular votes for health care reform and other important legislation lose their jobs.
At the same time, Obama acknowledged that he has failed to deliver on his 2008 campaign theme of changing politics as usual in Washington. His administration was in "such a hurry to get things done that we didn't change how things get done, and I think that frustrated people," Obama said. |
I wonder if Obummer "Gets It" now. |
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| TxMex63 |
Obama is a clown.
The gig is up. The American people have awaken to see the emperor has no clothes. I can't believe people on this post actually blame the Tea Party. How stupid can you be? Obama is responsible for the mess we are in now..he has made it a lot worse than Bush ever could. Plus throw in the fact that the Fannie Mae/Freddie Mac mess was largely due to Democrat corruption (Dodds/Barney Frank). Republicans ran it into the ditch? LOL...with a lot of help from a Democratic controlled Congress. |
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| Lebezniatnikov |
| quote: | Originally posted by TxMex63
Obama is a clown.
The gig is up. The American people have awaken to see the emperor has no clothes. I can't believe people on this post actually blame the Tea Party. How stupid can you be? Obama is responsible for the mess we are in now..he has made it a lot worse than Bush ever could. Plus throw in the fact that the Fannie Mae/Freddie Mac mess was largely due to Democrat corruption (Dodds/Barney Frank). Republicans ran it into the ditch? LOL...with a lot of help from a Democratic controlled Congress. |
Welcome to the forum. A couple of quick pointers - one is that making statements like "Obama is a clown" (likewise "Bush is an idiot") aren't often taken seriously on a forum devoted to discussion. Second, "the emperor has no clothes" is a bit of a cliche and doesn't substitute for a substantive criticism of administration policy. There are plenty to make, to be sure, so be specific!
Regarding the substance of your remarks - there seems to be a remarkable chasm between the accountability you place on Obama and Bush for the state of the economy. The economy tanked in September of 2008, after an unsustainable post-2000 housing bubble burst. Obama took office in 2009, and while criticism that he's done little to mitigate the damage could be well taken (with support!), the allegation that Obama ran the economy into a ditch is a little suspect.
Also, Dodd and Frank are to be castigated for lax regulation of the housing lenders, to be sure. However, aren't Tea Party Republicans currently against increased government regulation? How is that inconsistent with the direction that many in the Republican Party are hoping to move? |
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| Comrade Stalin |
| quote: | Originally posted by TxMex63
Obama is a clown.
The gig is up. The American people have awaken to see the emperor has no clothes. I can't believe people on this post actually blame the Tea Party. How stupid can you be? Obama is responsible for the mess we are in now..he has made it a lot worse than Bush ever could. Plus throw in the fact that the Fannie Mae/Freddie Mac mess was largely due to Democrat corruption (Dodds/Barney Frank). Republicans ran it into the ditch? LOL...with a lot of help from a Democratic controlled Congress. |
What mess is that? After being so close to economic collapse, people expect us to be back to full employment in less than 2 years? You're being unrealistic. Are you people paying attention to the stock market? We are back to the same level we were before Lehman Bros' bankruptcy. |
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| Lebezniatnikov |
link
Note that in 2009 the freefall of economic growth reversed, and the economy has started to grow again (at a Q3 rate of 1.7% annually). That's not enough to regain full employment anytime soon. The fact is that unemployment figures are a lagging indicator, and it will be the last thing to "recover" to pre-2008 levels. |
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| Shakka |
| quote: | Originally posted by Lebezniatnikov
Regarding the substance of your remarks - there seems to be a remarkable chasm between the accountability you place on Obama and Bush for the state of the economy. The economy tanked in September of 2008, after an unsustainable post-2000 housing bubble burst. Obama took office in 2009, and while criticism that he's done little to mitigate the damage could be well taken (with support!), the allegation that Obama ran the economy into a ditch is a little suspect. |
Housing was the final straw, but I would contend that the seeds of our problems were sewn long ago with the infamous Greenspan Put and the mountains of leverage that we began to build starting back in the 80's. We simply can't spend like drunken sailors and expect that the bill will never come due. Unfortunately, every time there was an opportunity to cleanse the excess and have a market clearing (albeit painful in the short-term) correction, Greenspan simply lowered rates and allowed new asset bubbles to form and our hole got ever deeper.
Yes, Greenspan was a Reagan appointee. And theoretically, Greenspan is a champion of free markets. However, I would contend that all of his meddling with interest rates to interfere with the natural ebbs and flows of the business cycle is actually completely at odds with what true free-market economics is all about. You can't have up and no down, and if all you allow is for there to be ups with truncated downs, eventually you're going to have a helluva a way to go down just to get back to where things should naturally be. I think Greenspan violated the very principals and Ayn Rand philosophies he claims to espouse (which is pretty sad for an inner circle Rand guy). That's just my 2c on the matter. |
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| LazFX |
| quote: | Originally posted by Shakka
Housing was the final straw, but I would contend that the seeds of our problems were sewn long ago with the infamous Greenspan Put and the mountains of leverage that we began to build starting back in the 80's. We simply can't spend like drunken sailors and expect that the bill will never come due. Unfortunately, every time there was an opportunity to cleanse the excess and have a market clearing (albeit painful in the short-term) correction, Greenspan simply lowered rates and allowed new asset bubbles to form and our hole got ever deeper.
Yes, Greenspan was a Reagan appointee. And theoretically, Greenspan is a champion of free markets. However, I would contend that all of his meddling with interest rates to interfere with the natural ebbs and flows of the business cycle is actually completely at odds with what true free-market economics is all about. You can't have up and no down, and if all you allow is for there to be ups with truncated downs, eventually you're going to have a helluva a way to go down just to get back to where things should naturally be. I think Greenspan violated the very principals and Ayn Rand philosophies he claims to espouse (which is pretty sad for an inner circle Rand guy). That's just my 2c on the matter. |
very well put, don't agree with ya on other matters, but this is also the way I feel. We really need to clean house of a lot of the old mentality....on both sides of the aisle.... |
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| Lilith |
| quote: | Originally posted by Comrade Stalin
What mess is that? After being so close to economic collapse, people expect us to be back to full employment in less than 2 years? You're being unrealistic. Are you people paying attention to the stock market? We are back to the same level we were before Lehman Bros' bankruptcy. |
Stocks have been on a 5 week rise and that's just great.
However, for the average citizen... they should be very, very afraid.
Millions losing their homes, 15-16 million unemployed, economy is wobbling drunk trying to walk a flat line despite almost 0 interest rates, then on top of that you've got the tea potter and republicans who will want to chop health, social security, cut taxes from the high income earners and remove any further stimulus if things get very bad.
Hah!
At best all they'll do is nothing for 2-3 years while they fight, at worst you're going down the plug hole at a rapid rate of knots and I get to trot out the "R-word" again. |
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| LazFX |
| quote: | Originally posted by Lilith
Stocks have been on a 5 week rise and that's just great.
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Sup lil lilith, how r things down under in kitty twilight land? ;)
I made a nice chunk of pocket change in the past month.. :) let's hope stocks continue up. :) |
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| Comrade Stalin |
| quote: | Originally posted by Lilith
Stocks have been on a 5 week rise and that's just great.
However, for the average citizen... they should be very, very afraid.
Millions losing their homes, 15-16 million unemployed, economy is wobbling drunk trying to walk a flat line despite almost 0 interest rates, then on top of that you've got the tea potter and republicans who will want to chop health, social security, cut taxes from the high income earners and remove any further stimulus if things get very bad.
Hah!
At best all they'll do is nothing for 2-3 years while they fight, at worst you're going down the plug hole at a rapid rate of knots and I get to trot out the "R-word" again. |
Things are improving for the average citizen too. Check out the employment numbers towards the bottom.
http://biz.yahoo.com/c/e.html
Non-farm payroll grew by 151K meaning the private sector added about 151K jobs. The average workweek ticked up 0.1 to 34.3 hours. Businesses are increasing workweeks which is a preliminary sign that they will hire more workers once the current workers can't be asked to work harder. My girlfriend just got a job at a trendy clothing store. I don't know about anyone else, but I hardly see a recession. When I go to the malls, they are full of people, Wal-Mart is full of people, Best Buy is full of people, I see no recession on the ground level. I honestly do not think it is as bad as everyone is making it out to be. That's my take. |
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| _Ocean_Drive_ |
Obama should quit this "let's work together" rhetoric.
How about he just work for the people who voted him in, and put the bankers and the greedy corporations back in their place, along with the Republicans and Tea Party. |
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| LazFX |
| quote: | Originally posted by TxMex63
Obama is a clown.
The gig is up. The American people have awaken to see the emperor has no clothes. I can't believe people on this post actually blame the Tea Party. How stupid can you be? Obama is responsible for the mess we are in now..he has made it a lot worse than Bush ever could. Plus throw in the fact that the Fannie Mae/Freddie Mac mess was largely due to Democrat corruption (Dodds/Barney Frank). Republicans ran it into the ditch? LOL...with a lot of help from a Democratic controlled Congress. |
So Predictable... lil man. :haha: |
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