Skip to comments.Why Obama is AWOL on the market meltdown
Posted on 11/22/2008 12:58:55 PM PST by knighthawk
The worse Bush looks in 2008, the longer Obama can blame him for the problems of 2009, 2010 and 2011"
Thursday was a terrible day in the financial markets. Hit by dire unemployment numbers, equities tumbled, and investors raced for the safety of U.S. government bonds. The interest rate on short-term Treasuries has dwindled to 0.02%; the interest on low-grade corporate bonds has soared to 20%.
(Excerpt) Read more at network.nationalpost.com ...
cause he cant do the only things that will work,,, cut taxes a lot and spending even more.
Also,, this story is already written. Any honest study of the great depression makes FDR, by far, most responsible for the depth of the suffering and the fact that it never ended until we geared up for WWII. But ask anyone,, Hoover caused it, and FDR saved us.
For the next 5 decades,, we will hear about Bush’s depression,, (so labelled for political reasons) and that Obama saved us. We can drag on in statist misery for a decade and it will never be Obamas fault.
Bush was bad for the USA IMO. He was a tool of one world government types. He did nothing to stop the spending train and the real estate corruption. He actively pushed us closer to UN governance. He allowed our boys to endure criminal prosecutions for killing the enemy and trying to survive a firefight in his PC military environment. He locked up our border patrol boys for a soviet “tenner” (10 year sentence) when *at most* they deserved to be fired.
I just dont like him anymore honestly. But he wont deserve the blame he is about to carry forever for everything that happens in our economy for at least a decade or 2 in the future, it’ll all fall at his feet. I even fear they will go the Pinochet route on him in 20 years.
If within 2 years this country doesn’t show major improvement thanks to Obamas lies for Change, the DNC will be slaughtered in mid terms....of course that also depends on a miracle that Republicans grow testicles by that time; and Obama won’t beable to pass anything. of legislative substance. Sort of how Clinton got check mated. But that is all big if’s!
Of course, Obama and his backers will maintain that he is blameless for the decline, as he is not yet President. It wouldn't shock me to see the Dow at 6000 on Inauguration Day. If so, and if it gets back to, say, 9000 by the time the next Presidential campaign is heating up in mid-2012, Obama will be able to point to a 50% increase in the Dow, as evidence of the efficacy of his fiscal and monetary policies.
Your comment about O being in over his head is so wrong. And many who follow that logic have already lost the battle.
Communists create the very situation we are in on PURPOSE.
the meltdown was completely planned well in advance.
People really need to read and understand the communist plan for taking over a country.
Socialism always rides in the Trojen horse of emergency.
They are doing exactly what their plan calls for. And as each step is taken we will give up more freedoms.
Those who resist will go to re-education camps. Those who fail will be executed.
Note that ill or incompetant can serve in the Senate, with little to no harm to the nation... One can do NOTHING except the bare minimum to get reelected, and do well. Obama is not alone in this.
There is a Charleton Heston movie on tonight.
You ain’t seen nothing yet. Wait’ll the Waxman, Pelosi, and Reid Cap and Trade kicks in. At least Dingell fought CO2 limits because he know how much they would damage Detroit.
Energy costs will triple or quadruple before O leaves office. And not just gasoline, but every fossil fuel we use. Get ready for huge inflation as energy price hikes flow through the entire economy.
Don't they mean the interest has increased 20% not to 20%, don't know to much about bonds other then I thought the yield was pretty low for them.
He went on a campaign of threatening to bankrupt coal fired electric power generators and return us to the Dark Ages.
He compounded that with a promise to raise taxes on families.
I think if you go back to FDR's campaign you will not find him threatening industry, commerce and families ~ sure, he ended up harming them, but he didnt' threaten them!
Obama is by far the stupidest man to ever be elected President.
You're absolutely right. I view Bush as a personally decent guy who had a lot of wrongheaded ideas (and some right ones), and was too bullheaded or unperceptive to adjust to the needs of the times. He wasn't fiscally conservative -- compassionate conservative was big ticket spending which didn't buy him love. He wasn't interested in border security. And, in the name of being liked, he was all too willing to cede authority to international organizations which don't merit it.
I don't expect anything good from BHO, but I'm hoping to be surprised.
The very ppl in leadership in the Democrat party are responsible for the meltdown.
It is all theirs...
Barney, Chris, Bubba
A still silent OBAMA could solve this economic crisis immediately by simply coming out and saying, while puting it in writing, that due to this crisis he will not increase taxes on personal income, busisnesses and capitol gains for the forseeable future.
But he will not do that, because he intends to use this crisis to install his radical liberal agenda on all us Americans.
A President that doesn’t even need to produce proof of his Natuaral Born Ammerican Citizenship.
In 1932-33 the economy got worse in the transition period as more and more banks failed, but FDR refused to do anything to help Hoover deal with the situation. The media is already telling Obama he's the new FDR, so maybe he'll try to follow suit.
From the looks of Obama’s cabinet picks, his first term will be Clinton’s third term.
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