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Posted on 01/12/2008 5:58:56 AM PST by Kaslin
I guess she didn’t mention that she was going to support Charlie Rangle’s tax plan.
The DOW is recoiling in response
And the problem with that is the speculation in the market, and that a down market is bad, it can actually be good for some investors. Most Americans are not giving up their standards of living, including excesses.
Actually, I’m on the verge of selling my gold.
On the campaign trail, Clinton has issued repeated warnings of a recession. Clinton told voters in New Hampshire, “I think we’re about to slip into recession, and we’ve got to take action now.” Link: http://www.nydailynews.com/blogs/dc/2008/01/clinton-predicts-recession.html
She said it again at a stop in Nevada yesterday. “I think we’re slipping toward a recession,” Clinton said. “A couple of people that I met on the street, they work in construction. They tell me it’s slowed down.”
WHEN PRESIDENTS SPIN THE ECONOMY
By MICHAEL WALDMAN, New York Times, December 27, 2000
WASHINGTON - In recent days, President-elect George W. Bush and his aides have warned that the economic boom may be ending - badly. Earlier this month, Vice President-elect Dick Cheney even said, “We may well be on the front edge of a recession.”
President Clinton’s aides have publicly scolded the new team, charging it with talking down the economy. In reply, Mr. Bush’s press spokesman, Ari Fleischer, said that on the Bush team “we dismiss the notion that politicians can talk the market down any more than they can talk the market up - that’s not how markets work.” Investors, he added, “are a little more sophisticated than to listen to politicians on that score.”
Perhaps that’s true when it comes to candidates’ rhetoric. But presidential words can have a sharp impact on the economy. That’s why they must be used responsibly.
To be sure, incoming presidents always want to show that they’ve inherited problems from their predecessors. In a famous leaked memo to the newly elected Ronald Reagan, David Stockman and Jack Kemp, then both congressmen, warned that “the momentum of short-run economic, financial, and budget forces is creating the conditions for an economic Dunkirk during the first 24 months of the Reagan administration.” Not coincidentally, the memo urged a massive tax cut as a remedy. And in 1992, at a point in the Bush administration when growth was wobbly, candidate Bill Clinton said he would “focus like a laser beam on the economy.” As an incoming president, he noted that the economy was coming out of a recession and then added - self-protectively - that he was worried the recovery wouldn’t be strong or permanent.
But those presidents-elect were facing clear economic trends. Today, as George W. Bush warns about a hard landing, most economists say they expect the economy to slow, but not to slip into recession. The trouble is, many Americans may be unable to hear the difference. At a time when roughly half of all households own stock, an economy that lives by continuous cable television business shows can die by continuous cable television business shows. A jittery public’s response to warnings can help create actual bad news - through panic selling on Wall Street or restrained Christmas buying at the mall.
That’s why sitting presidents try, with varying success, to calm economic anxieties. Dwight D. Eisenhower once warned his cabinet that a downturn was approaching, but urged them to call it a “rolling readjustment” instead of a recession. Alfred Kahn, Jimmy Carter’s inflation fighter, was once scolded by political aides for using the “R” word in public. Fine, he said at a press conference - from then on, he would call it a banana.
As president, George Bush also thought recession talk, well, wouldn’t be prudent, even when there were a couple of quarters of recession on his watch. (Criticized for his silence, he occasionally swerved in the other direction, as when he once declared that the economy was in “free fall” when it wasn’t.)
After some initial missteps - as when a careless comment opposing the propping up of the dollar sent the currency plummeting in 1994, Mr. Clinton learned that a president’s words echo loudly through the economy. I saw it in 1996, as I was writing that year’s State of the Union address. The economy had been inching forward, but press assessments were grim, and polls showed that one in three citizens thought things were actually worsening.
Congressional Democrats privately urged Mr. Clinton to accentuate the negative - to focus on the anxieties of those who feared losing their jobs. Instead, he went for a strikingly positive view, asserting the economy was “the healthiest it has been in three decades.”
And the Clinton administration continued to talk optimistically, declaring the glass not just half full, but brimming. Eventually, press coverage helped spur rising consumer confidence, with direct economic results. American consumers’ cheerful determination to keep buying in 1998, for instance, helped the economy thrive despite the Asian financial crisis.
This is not to say that President- elect Bush should be a Pollyanna; the slowing economy is cause for concern. But if continued bearish talk becomes a factor that helps tip the economy into a slump, the consequences could be harsh. Besides, on Jan. 20, the economy is his. Recession warnings may help Mr. Bush pin blame elsewhere. But if the economy’s hoped-for soft landing does turn into a crash, cleaning up will be his problem.
Michael Waldman, former chief White House speechwriter, is the author of “Potus Speaks: Finding the Words That Defined the Clinton Presidency.”
Source: http://iskran.iip.net/review/december00/3nyt1.html
COMMENT: Hillary Clinton's hypocrisy has never been more blatant or more dangerous, except when she worked to bring about failure in Iraq. Her tactic this time is to induce fear of a recession among voters--with 24/7 help from the pro-Democrat media. She thinks she can win votes by creating the self-fulfilling prophecy that Clinton's speechwriter warned about. It is a hypocritical defeatist mentality akin to Daschle's fight to obstruct Bush's tax cuts that brought the economy back to health. Shame on Hillary Clinton.
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ask what you can do for your country
Sean Hannity ‘Man on the Street’ question for a Democrat Rally, “What can you do for your Country?”
Grand Slam.
We should ELIMINATE corporate taxes. I remember the Reagan quote that corporations don't pay taxes. He's right - consumers pay corporate taxes through higher prices.
I'm retired, does this mean that I will have to go back to work? I'm able-bodied but I'm awfully lazy.
Look on the bright side, if Hillary is elected those places you named would be good to invest in......That is if you had any money left to invest.
I've wondered that all my life.
One answer is that John Edwards is right, there are two Americas, the tax payers and the tax receivers and they all vote. Guess which America swallows this liberal crap.
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If I did it, anyone can and I could have done it sooner and easier if not for the tax burden imposed on me to support those who choose to suck from the government teat.
“A couple of people that I met on the street, they work in construction. They tell me it’s slowed down.”
See. The Beastly version of due diligence.
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“Ouch!!!I just got a sharp pain in my wallet.”
Aside from the other pain in the backside.
The first thing I thought of when I saw this was...70b is a fly on the windshield of this economy.
A man comes to her who thinks his leg was severed by a train. She would say, "here's a bandaid. There, all better."
He thinks she's a miracle worker; she knows she played him for a fool.
This is roots-politics, folks; create a problem and solve it with a wave of your wand. If this is her M.O., then she's a carney, as I've said all along.
If, on the other hand, the man's leg has really been severed, then she's either a fool or wants to use his misfortune to further her own ends.
In no case does she come out shining with virtue; in any case these words prove her to incompetent at best, diabolical at worst.
In 1993 it was 16 billion or a “long hot summer.”
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