Fastest Presidential Legacy In History.
Posted on 03/13/2009 7:04:28 PM PDT by indianyogi
Turning more upbeat, President Barack Obama said Friday his administration is working to create a "post-bubble" model for solid economic growth once the recession ends. He said that means the days of overheated housing markets and "people maxing out on their credit cards" are over. But first, Obama said, "We've got to get through this difficult period."
There are "modestly encouraging signs" on that score, said Lawrence Summers, Obama's top economic adviser, citing indications that consumer spending had stabilized after taking a dive over the holiday season.
The White House attempts to be positive matched a fourth day in a row of stock market gains. The Dow Jones industrials gained 53.92 points to cap Wall Street's best week since last November.
Administration officials were criticized earlier this year for painting too dark a picture of the economy in an effort to win congressional passage of the president's $787 billion stimulus package. But more recently, the president and others on his team have tempered their comments in hopes of building confidence, including the president's suggestion last week that it was a good time for those with a long-term perspective to buy stocks.
(Excerpt) Read more at news.yahoo.com ...
Republicans need to start the drumbeat -- credit belongs to Bush's actions in his last few months in the office.
Obama is so smart, it only took six weeks for the obvious to sink in.
Bambi is ugly and dumb
It's stupid nonsense, but if it makes ya feel better.
I have often wondered how Obama’s spendng can cure a recession that he said was caused by Bush’s spending. If spending were the answer, Bush would have prevented this mess.
Hmmm... more hedge fund (Soros, Flowers, John Paulson) manipulation in the market again like October. Now they are pushing it up a little.
No one with an IQ above 50 has any confidence in Obama.
It's like Orwell's "1984" -- we've always been at war with Oceania -- or we've always been allied with Oceania -- what week is this?
I totally agree.
Tax Cuts, as in Tax Cuts for the Rich, implies less revenue. Tax RATE Cuts is a better definition.
I have never heard any talking head Republican Congress Critters explain that the Bush Tax Rate Cuts increased revenue as well as reducing the Tax Burden of lower income earners.
I always correct the Libtards who try to use this argument. They are clueless about facts, but I soldier on.
The Libs complain about spending increases under President Bush, but they all voted for every bill. Wonder why that little bit of information doesn't get much play in the press?
Well I’m glad he owns it now because the real bottom will come once the new taxes hit and the unemployment rate goes up another 5 or 10 percent.
The genius Pres Obortion realized that continuing to trash talk the economy like he did when Bush was Pres does indeed contribute to the slide because of negative sentiment! So hence the up-talk. However it will not get better until about $3 trillion of crap assets are taken off the books at Cit, Bank America, GE, Wells Fargo, AIG, etc etc..
Summers has apparently made the ‘discovery’ that consumer spending stabilizes when you remove all the discretionary spending.
The fact that that passes as wisdom in this administration is pretty scary.
Total manipulation of the markets and the Dem politicians will do nothing to regulate them.
Bernie Madoff donated tons to Democrats while Harry Markopolous gave the SEC a map and instrustions on exactly waht Bernie was doing. The SEC repeatedly ignored Markopolous. The man stuck his neck out because Bernie was powerful with FINRA and the SEC. One word and his career in the financial markets was over or worse.
I don't know, he was doing that whole thing about Americans being in pain today. The guy doesn't seem to have a "Hyperbole Off" switch.
Too late, 0, you already tanked the economy. Well, that and selling our souls to China for 30 trillion pieces of silver.
Total Soviet style propaganda and news media. They tell you what ever they want to tell you and the media reinforces it every second. They want you to believe whatever they tell you.
It could be the most absurd thing and if the newsmedia spins it enough - it will seem reasonable to 65% pf the public.
Plot killer - It fails just like every other experiment with income redistribution.
Fastest Presidential Legacy In History.
The economy will neither suffer Armageddon nor a perform a traditional American recovery. Instead, it is in the process of becoming another European socialistic state.
Those entities clunk around with zero or minimal GDP growth at this stage in their evolutions, and don’t fall apart completely yet. It will take another cycle or three to become a situation whose debt becomes unmanageable through additonal monetary tinkering.
I believe 0bama’s term will avoid the calamity stage of the megacycle. But it’s the inevitable outcome of the momentum toward the mommy state. A majority of Americans are bent on ruining a good thing because they are too unsophisticated to understand how systems succeed and fail.
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