The economy is tanking? Could have sworn we were in a three month rally. Must be in some hidden world.
Also Tivo will solve that for ya via skipping anything that isn't Supernatural. I'd go insane if I listened to that crap
Even Borax just said that the recovery is not happening and he plans to speed up the big 700+ billion handout. Can you hear those printing presses printing all that money? Or that could be the sound of the money in your various accounts becoming less and less valuable. Distribute that wealth. You go, prez. As you pay more and more for less and less, just be happy that we have our first blackish president. That is what really matters, right? Please, let me be the first to say I TOLD YOU SO. ha ha ha ha ha ha ha ha ha ha Socialism is a bitch. Or maybe I should say, we are socialism's bitch. We are at least OhBummer's bitch. Pass the vasoline.
Ha ha ha ha ha ha ha
Hey I'll stand right there by you when you make your official stance that we should turn people away at the emergency room. Until then your stance is unsupportable.
Also he never sayd the recovery isn't happening.
Well then, I heard someone on the radio giving a pretty good impression of him.
Cept Obama's not a socialist.
Since you are an admitted druggy, I can see why you would not think so. I suppose you see him doing socialist crap and think he is promoting capitalism. Poor Sean. Did I see you wearing a tinfoil hat the other day? Hell, OhBummer is about to take over the tobacco industry and put them out of business. I figure pot is next, right? The homos are already piss off at BHO because he is not in their corner for homo marriage. He just does not seem to be doing anything he promised to do. It is like he has his own agenda. I bet Bill Ayres knows what he is up to. I bet the Reverend Wright knows what he is up to. I bet Louis Farrakhan knows what he is up to. But poor Sean is still hanging on to hope, hoping for CHANGE. ha ha ha ha ha ha ... I told you so.
Actually he's been pretty good if not too good on his promises. I've already criticized his stance on pot. And same sex marriage. His stance on tobacco is TOXIC. Someone needs to slap some taste into his mouth on that one. But I didn't see you telling Bush to back off the Porn Industry so are you gonna go get your socialist pride badge now?
Also I didn't say he promoted capitalism. Like the second amendment he seems to accept that is the way that it is and acknowledge it strengths. He's done nothing that will tear it down.
I admit he's overcovered but I just tune it out.
Also seriously while I take a lot of stuff without forcing you to quote it I want a quote of Obama saying the recovery isn't working.
According to David M. Sachs, a training and supervision analyst at the Psychoanalytic Center of Philadelphia, the crisis today is not one of confidence, but one of trust. "Abusive financial practices were unchecked by personal moral controls that prohibit individual criminal behavior, as in the case of [Bernard] Madoff, and by complex financial manipulations, as in the case of AIG." The public, expecting to be protected from such abuse, has suffered a trauma of loss similar to that after 9/11. "Normal expectations of what is safe and dependable were abruptly shattered," Sachs noted. "As is typical of post-traumatic states, planning for the future could not be based on old assumptions about what is safe and what is dangerous. A radical reversal of how to be gratified occurred."
People now feel more gratified saving money than spending it, Sachs suggested. They have trouble trusting promises from the government because they feel the government has let them down.
He framed his argument with a fictional patient named Betty Q. Public, a librarian with two teenage children and a husband, John, who had recently lost his job. "She felt betrayed because she and her husband had invested conservatively and were double-crossed by dishonest, greedy businessmen, and now she distrusted the government that had failed to protect them from corporate dishonesty. Not only that, but she had little trust in things turning around soon enough to enable her and her husband to accomplish their previous goals.
"By no means a sophisticated economist, she knew ... that some people had become fantastically wealthy by misusing other people's money -- hers included," Sachs said. "In short, John and Betty had done everything right and were being punished, while the dishonest people were going unpunished."
Helping an individual recover from a traumatic experience provides a useful analogy for understanding how to help the economy recover from its own traumatic experience, Sachs pointed out. The public will need to "hold the perpetrators of the economic disaster responsible and take what actions they can to prevent them from harming the economy again." In addition, the public will have to see proof that government and business leaders can behave responsibly before they will trust them again, he argued.
Note that Sachs urges "hold[ing] the perpetrators of the economic disaster responsible." In other words, just "looking forward" and promising to do things differently isn't enough.
Are the "perpetrators of the economic disaster" being held accountable?
So far, Obama, Summers, Geithner, Bernanke and crew have tried to paper over the cause and severity of the financial crisis, instead of honestly addressing them. They haven't lifted a finger to hold anyone accountable (other than a Madoff or two), but have actually thrown billions of dollars at the perpetrators, or else appointed them to government posts.
PhD economist Dean Baker recently made a similar point, lambasting the Federal Reserve for blowing the bubble, and pointing out that those who caused the disaster are trying to shift the focus as fast as they can:
The current craze in DC policy circles is to create a "systematic risk regulator" to make sure that the country never experiences another economic crisis like the current one. This push is part of a cover-up of what really went wrong and does absolutely nothing to address the underlying problem that led to this financial and economic collapse.
The key fact that everyone must always remember is that the story of the collapse was not complex. We did not need great minds sifting through endless reams of data and running incredibly complex computer simulations to discover the underlying problem in the economy. We just needed some people who understood the sort of arithmetic that most of us learned in 3rd grade.
If the people at the Fed, the Treasury, and in other key positions had mastered arithmetic, and were prepared to act on their knowledge, they would have taken steps to stem the growth of the housing bubble. They would have prevented the bubble from growing to the point where its inevitable collapse would bring down both the U.S. economy and the world economy...
We didn't need some super-genius to solve the mystery. We just needed an economist who could breath and do arithmetic. But the DC policy crowd tells us that if only we had a systematic risk regulator this disaster could have been prevented.
Okay, let's do a thought experiment. Suppose we had our systematic risk regulator in 2002. Would this person have stood up to Alan Greenspan and said that the country is facing a huge housing bubble the collapse of which will sink the economy?...
Alan Greenspan said that there was no housing bubble; everything was just fine. Would our systematic risk regulator have said that Greenspan was nuts and that the whole economy was a house of cards waiting to collapse?Anyone who believes that a risk regulator would have challenged the great Greenspan knows nothing about the way Washington works. The government is run by people who first and foremost want to advance their careers.
And, the best way to advance your career in Washington is to go along with what everyone else is saying. If that was not completely obvious before the collapse of the housing bubble, it certainly should be obvious now.
How many people in government have lost their jobs because they failed to see the bubble? How many people even missed a promotion? In fact, the top financial officials in the Obama administration, without exception, completely missed the housing bubble. One might think it was a job requirement.
This lack of accountability among economists and economic analysts is the core problem that must be tackled. Unless these people are held accountable for their failures in the same way as custodians and dishwashers, there will never be any incentive to buck the crowd and point out looming disasters like the housing bubble.
The reality is that we have a systematic risk regulator. It is called the Federal Reserve Board. They blew it completely. We will do far more to prevent the next crisis by holding our current risk regulator accountable for its failure (fire people) than by pretending that we somehow had a gap in our regulatory structure and creating another worthless bureaucracy.
Remember also that the Wharton study pointed out that "the public, expecting to be protected from such abuse, has suffered a trauma of loss similar to that after 9/11."
Indeed, the government's responses to both crises have been similar:
As the Wharton essay says, the economy will not recover until the perpetrators of our crises are held accountable. But - unfortunately - the government is doing everything possible to avoid holding anyone accountable.
This is what I've been saying for a long time
i still believe that with the closing of all these dealerships, the delay in infasturcture funding etc etc we will not see 3 quarters of sustained growth until late 2010 if not early 2011
Cussane
I think people are starting to pay attention and they are wising up. I heard tonight that his approval rating is down to 46 percent. It will be in the toilet before long. I do not want the president of the United States to fail, but I want Mr. Obama's attempts to move us toward Socialism and then (most likely) on toward Communism to fail. His history and his associations have to convince us of his intentions. A rose by any other name ...