The Obama Economy

[Dan40]

Originally Posted by cobra bill

This money would have been used for the bailout even if McCain were to be in office, too much of our economic condition was kept secret, do you believe for a second that McCain would have said that the core of our economy was sound if they had told him? I don't believe for a second that he's that dumb! and other then the experts on FOX I know pretty funny, all the other experts say we have not spent enough. So if we have to spend, then we need to spend on infrastructure, something that will give us a long term return on our money, not tax relief for the wealthy that has proven to be ineffective.

A nation is no different than an individual.

What is the logic of telling a man, already so deep in debt that it seems impossible to ever get out, that his salvation is to spend even more, and faster, and all will be well.
That method does not cure, does not correct, it just prolongs.

You can pick a tiny segment of any economy and see the whole thing. And it constantly repeats itself, IF LEFT ALONE TO DO IT.
Take the video rental business. It flourished with a rental store on every corner. Generating hundreds of millions of dollars of business. But it overcooked and had to shake out. It did that, then it got superseded by technology. No different than the entire economy, it waxes and wanes, ACCORDING TO THE MARKET, not the politicians.
Its REALITY, a concept seemingly impossible for liberals to grasp.

Dan

[cobra de capell]

Those interested, first go to...

http://market-ticker.org/archives/84...e-America.html

Second, to......

http://market-ticker.org/

Both articles concern "The Bezzle" - that is, our government's refusal to uphold the law and force the truth to be disclosed both publicly and to investors.

About "The Bezzle":

There’s a name for the part of the cycle we’re in — It’s called the “bezzle.”

Richard Parker of Harvard’s Kennedy School knows all about it. Professor Parker good to have you with us.

PARKER: Delighted to be here.

VIGELAND: So, tell us. What is the “bezzle?”

PARKER: The “bezzle’s” a term that was coined by the American economist John Kenneth Galbraith in a book called “The Great Crash: 1929” which he wrote in the middle of the 1950s. What he recognized was that at any given time there is a certain amount of embezzlement going on in the economy. Now this falsely inflates the sense of the total wealth of the economy at that moment. Because, not only does the embezzler now have substantial resources under his control but the embezzled does not yet know that he or she has lost those resources. And so there’s, in effect, a kind of double counting of wealth of both the victim and the victimizer. And the inventory of that duplicity is what Ken called the bezzle.
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No matter how bad you think it is, it will be 1,000,000 times worse.

Radioactive mutants. Radroaches. A barren wasteland with scorched trees and horrid scrub brush will hid the mangled corpses and gnawed bones of the lucky - those who died early.

This is the reality. Get used to it. I voted for McCain.

[VRM]

Originally Posted by cobra de capell

____
This is the reality. Get used to it. I voted for McCain.

Good articles - thanks for posting them.

While I agree that Obama is doing a lousy job with this how would McCain have done better? After all - his campaign financial adviser was one of the guys who got us into this mess.

Big (like $4-5K) tax cuts for the middle class are about the only thing I see getting us out of this quicker than just waiting it out.

[cobra de capell]

Originally Posted by VRM

Good articles - thanks for posting them.

While I agree that Obama is doing a lousy job with this how would McCain have done better? After all - his campaign financial adviser was one of the guys who got us into this mess.

Big (like $4-5K) tax cuts for the middle class are about the only thing I see getting us out of this quicker than just waiting it out.

I'm with you on the tax cuts - also, business tax cuts for a year or so - no capital gains tax for two years. In addition, allow all non-financial institution entities that are in trouble to go bankrupt (GM, etc)

Although it's true that McCain may not have done much better - McCain's policies and statements more than likely would not have done the damage that Obama has done and is doing.

What's happening at the White House level is clearly summed up within this statement..........

“You never want a serious crisis to go to waste,” said Chief of Staff Rahm Emanuel. “This crisis provides the opportunity for us to do things that you could not do before.”

It's those "things" that are compounding the problems within the economy.