Skip to comments.Obama's Transition Focuses on Reassuring the Middle Class
Posted on 11/10/2008 2:16:53 PM PST by jessduntno
Obama's Transition Focuses on Reassuring the Middle Class So far, Obama and aides have gone out of their way to maintain support from the key group By Kenneth T. Walsh Posted November 10, 2008
It's all about reassurance.
John Podesta, cochair of Obama's transition organization, said the new administration is reviewing President Bush's executive orders on oil and gas drilling, stem cell research, and other issues for possible reversal. The new administration's moves are likely to please environmentalists, stem cell research advocates, and other groups that have been critical of George W. Bush's policies. Podesta told Fox News that Obama will use his unilateral powers to get things done immediately without waiting for Congress to approve legislation. "There's a lot that the president can do using his executive authority without waiting for congressional action, and I think we'll see the president do that," Podesta said.
(Excerpt) Read more at usnews.com ...
Yeah, that should reassure us...no new drilling, hello $200 barell oil...morons.
Obama Wins, Economys Doomed:
Peter Schiff, president of Euro Pacific Capital and author of The Little Book of Bull Moves in Bear Markets, says a big-government Obama administration will lead to an economic collapse on par with the Great Depression.
Sun 11/09/08 04:59 AM EST Gregg Greenberg
Check the video linked below to really make your day, week, month, year, decade:
Obama will do to the middle class, what LBJ did to the poor.
Does anyone believe for an instant that a guy who hasn’t cast votes, written an opinion, or made a serious decision is calling the shots?
Sure. The guy is a face for all those Clintonistas snowballing the public with their plans.
Rahm Emanual is probably there less as a WH guide and more as enforcer to keep Obama in line.
And for all the Obama Obots and Headbangers, great job, “Change,” my eye.
Didn’t 70% of Americans want offshore drilling?!?
I’m vastly reassured that gasoline will be at least ten dollars a gallon by next summer.
$10? At least. I can’t wait til Obama changes wars from Iraq to Pakistan, Afghanistan, and Iran.
Well, at least he can shovel all those Obots and Headbangers, male and female into his Obama Change Draft program.
2. We've confiscated your land and houses because we need them for government purposes.
3. You've been arrested because we discovered you were harboring anti-Obama thoughts.
4, We've taken your guns so that you will be unable to organize and fight back against the Messiah.
5. You have resisted indoctrination by the Messiah and have been found guilty of anti-Obama thoughts. You will be exterminated for the good of the State.
I too have heard from sources “in the know” that an economic collapse is expected soon after Obama takes office. How does one prepare for that?
The “middle class” is where the money is. Rats always go where the money is and carve off a sizeable chunk. They have to in order to keep their base paid off and voting right.
So I am reassured that sooner or later (probably sooner) my paycheck will be lighter than it is today. Add in the inevitable rising cost of energy as the rats continue to restrict domestic exploration and development and I expect that by 2012 my purchasing power will have dropped and probably by a healthy percentage. This assumes I still have a job in 2012.
That's the change we've been waiting for.
Obama has a giant ego...there's no doubt there.
Also there is no doubt some things happen that there is no understanding...when you are standing on the sidelines.
Preparing for Zer0’s economic bust.
1. What fluff expenses can we eliminate and still have a good life?
2. Eliminate as much monthly outflow as you can. Today I spent about an hour with a live AT&T rep. I’m saving $10/month with the same DSL service and eliminated another $10 extra phone service my wife got and doesn’t use. I discontinued a so called cheaper phone long distance service and got a flat 5 cents / minute from AT&T. Total monthly savings equal about $30 per month.
3. I will be doing the same with Dish. If they don’t lower and their rates and lock them in. I will go to Direct TV. Expected monthly savings about $25.
4. Get out of credit card debt. Don’t buy it if you can’t pay for it with your next bill.
5. Go to a yearly cell phone contract with a good phone without buying a mini computer to carry.
6. Shop at Walmark, Costco and get a Safeway savings card to buy Safeway’s specials. The savings can be very good.
7. If you can save 5% or more on a necessary item, that beats what your bank is paying.
8. Go to Dollar Savings Direct or ING to keep your savings at better rate. You can get to it via the iternet and transfer money from and to DSG. DSG is currently paying 4% and you can have basically any amount in their account.
I don’t give investment advise only suggestions. Personally, I would not be in any mutual fund with the exception of a low cost S&P 500 mutual fund in Iras and 401 k’s. Bond funds have been spooky and not very transparent. If you have a self directed IRA, you can invest in TLT and TIP bond etf funds. You can buy them and any ETF and sell them like stock. Beware of house owned mixed funds sold by the investment funds , often they are composed of their junk they can’t sell by itself. So they market them as no brainer funds with goals 10/20/30 years away. Usually their result is terrible when compared to just the plain jane S&P.
Our Fido self directed Ira investments are mainly in bank CDs and about 5% in Gld, the gold etf.
Last but not least the old rule of having 6 months of expenses in a savings account is still imporatant, and maybe a year depending on the area and job skill.
Don’t lock your money up re long term, as we will probably have Jimmy Carter runaway inflation starting sometime next year. That is where savings accts like the Dollar Savings Direct are good. We got in a couple of months ago @3.7 something, and today their apr is now 4%. Their rates is will increase as the cost of money increases. Locked in rates can cripple your money in Carter/Zero runaway inflation.
I'm leaving the northeast. Won't live with such people, won't pay their taxes, won't support their ridiculous inflated property values, don't need them. I'll be fine, no thanks to anyone in power, anywhere. And nothing on earth will make me support these fools.
And remember, about absolutely everything, it is AOF.
Obama will screw over what is left of the middle class. No one knows it yet. But they will....it will be sooner rather than later.
He can try to blame Bush, but a messiah would know better, wouldn’t he? He surely would not promise what he should have known he could not deliver....right? right?
Thank you for your suggestions. It is time to prepare FAST!
There are some good replies re how to prepare.
Besides non spoilable food,one of the most important survival needs is a large capacity water filtering system that kill germs/viruses. Also 2-5 gallon portable solar water heater bags for showering and personal hygiene. Just fill the bags with water and put in the sun during the day and bring inside at night.
Financially, it is buyer beware, more than it ever has been.