The Obama Economy

[joe g]

It kills me when a news REPOrTER ask's Obama hows his game, referring to basketball- the market is tanking, banks closing, insurance companys dying and this butt licker asks a question how's your game!!Dont expect the THE FIFTH ELEMENT to keep an eye on this government- they only worried about the bush administration.
IF they only realized in a socialist government FREE PRESS GOES BY THE WAYSIDE BUt there Masiah can do no wrong. CAN YOU imagine if the market dropped like this with BUSH- CNN NBC ABC ETC Would crucifie him but Obama gets a pass!!!
JOE g

[Ron61]

I saw in yesterday's paper where the unemployment rate in our county is now a record 15.2% and it will go higher this week as I know of two other small businesses which are going to be closing and possible a larger one soon. There are so many empty commercial buildings around here now that if you had a little extra money you could make some pretty good buys. I doubt if our Sears store makes it until July as I hardly see any cars in their huge parking lot any more. And it just keeps getting worse. And the people that voted for that fool think he is doing a great job, but can't answer any question about anything that has improved since he took office.
And Cobra Bill, before you jump in and take offence, I don't like him, didn't vote for him, and distrust him completely. But I do not want to see him fail as I love this country and it is on the verge of making what happened to the old soviet Union look like a minor disaster.

Ron

[392cobra]

Originally Posted by Ron61

And the people that voted for that fool think he is doing a great job, but can't answer any question about anything that has improved since he took office.
And Cobra Bill, before you jump in and take offence, I don't like him, didn't vote for him, and distrust him completely. But I do not want to see him fail as I love this country and it is on the verge of making what happened to the old soviet Union look like a minor disaster.

Ron

I want him to fail completly,as Socialist always do,because I do love this country.
Him being a success would be a disaster for this country and it's people.

[Ron61]

Fred,

He never even got the 100 day grace period that most presidents do before he had the good old boys in Congress ticked off at him and that takes some doing when you are president and your party has total control. Dam, he even has Fienstien thinking about running for Governor of California. I wish he would run some of them to Texas. Queen Pelosi could really straighten out your state.

Ron

[Dan40]

Originally Posted by Ron61

I saw in yesterday's paper where the unemployment rate in our county is now a record 15.2% and it will go higher this week as I know of two other small businesses which are going to be closing and possible a larger one soon. There are so many empty commercial buildings around here now that if you had a little extra money you could make some pretty good buys. I doubt if our Sears store makes it until July as I hardly see any cars in their huge parking lot any more. And it just keeps getting worse. And the people that voted for that fool think he is doing a great job, but can't answer any question about anything that has improved since he took office.
And Cobra Bill, before you jump in and take offence, I don't like him, didn't vote for him, and distrust him completely. But I do not want to see him fail as I love this country and it is on the verge of making what happened to the old soviet Union look like a minor disaster.

Ron

It seems unAmerican to want him to fail. BUT, EVERYTHING he is doing is just MORE OF THE SAME that caused our problems. And those problems predate Bush1 and Bush 2. They predate me and I'm 67. And they can be laid at the feet of both Red and Blue elected idiots.
The term, "For All" is a death knell for ALL business when attached to a specific.
Attached to intangibles, its OK. Freedom for all, is fine. Opportunity for all, also fine. Equality for all, OK too.

HEALTH CARE for all, a ticking time bomb.
Education for all, tick, tick.
Home ownership for all, tick, tick
Jobs for all, tick, tick.
Social security for all, TICK, TICK

Government involved in business is a disaster that WILL HAPPEN, it may be years, but it is 100% CERTAIN.

The Governments business is running the Government, AFTER, listening to us. They don't do the listening and their "business" is 11 trillion in the RED.
Libs can gripe all the want about Bush adding 5 trillion to the RED. But Bush was only President. Congress spends the money. And Blues had power part of his time and Reds had power part of his time. And the Gov. "business" was 5 Trillion in the RED after BJ Clinton. And Trillions before he wagged his Weiner around the Oval Office.
The blame game is a horse and a horse for about a century. Plenty of blame to go around.

They can only make it worse or get out of the way, let the blood flow, and INDIVIDUAL citizens WILL fix the problem, or we will be finished. Government intervention INSURES we will be finished.

Dan

[cobra de capell]

Good points, Dan.

What I don't understand is as government programs come up, someone always comes up with a 'budget' covering the program which turns out not even close to what it costs down the road, in the billions and trillions. Why do they keep doing it?

Also, cities and states are cutting back - workers are accepting salary cuts, workers are being furloughed, at least in CA. Why is nothing happening at the Fedeal level? I'd guess that if Federal workers were furloughed just a few days per month - tons of money could be saved.

We are so screwed.

Top 10 headlines that could signal a market bottom

1) Obama resigns

[95CobraR]

Originally Posted by Ron61

But I do not want to see him fail as I love this country and it is on the verge of making what happened to the old soviet Union look like a minor disaster.

I do want him to fail and to fail badly.

I see it as the only way to convince this country's citizens that socialism does not work. We need to return to free-market entrepreneurial capitalism with no government interference , but it will not happen until Obama resigns in disgrace.

[Ron61]

Originally Posted by 95CobraR

I do want him to fail and to fail badly.

I see it as the only way to convince this country's citizens that socialism does not work. We need to return to free-market entrepreneurial capitalism with no government interference , but it will not happen until Obama resigns in disgrace.

I don't like him, wouldn't help him across a street, but if everything fails, and it certainly looks as if he is going out of his way to insure that it will, we will be without a country. If we wait until he resigns, there won't be anything left anyway. I saw on some TV show they were talking to a bunch of people who voted for him and asked them about his stimulus package.Not a single one of those people even knew what a stimulus package was or that he was supposed to have one. Three said they voted for him because he was black but had no idea of what he was doing as they quit following him after the election. As CDC says, "We are so Screwed."

Ron

[95CobraR]

Originally Posted by Ron61

I....we will be without a country. If we wait until he resigns, there won't be anything left anyway.

I remain optimistic. This country has survived when all odds were against us (heck, we almost lost WW2). I think this will just be a bump in the road.

Obama's rich and celebrity supporters may loss faith once that they realize that their wealth will be taken from them.

Mr. Obama made clear in the campaign his intention to raise taxes on this income class by letting the Bush tax cuts expire. What is becoming clearer as his presidency unfolds is that something deeper is underway here than merely using higher taxes to fund his policy goals in health, education and energy.

The "top 1%" isn't just going to pay for these policies. Many of them would assent to that. The rancorous language used to describe these taxpayers makes it clear that as a matter of public policy they will be made to "pay for" the fact of their wealth -- no matter how many of them worked honestly and honorably to produce it. No Democratic president in 60 years has been this explicit.

http://online.wsj.com/article/SB123681860305802821.html

I believe he will lose the support of the poor uneducated people when they remain desolate and without work for months and months. Perhaps they will learn that businesses provide jobs for them. They may find that business can't provide jobs when their rewards are taken from them.

He never had the support of businessmen.

[cobra de capell]

True - in the end, it's all about jobs. That's the issue relating to BO's stimulus and the new spending law - will they create jobs for the rank and file? Yes, road and state/county level work but that involves a relatively small group of people and it's doubtful that that will bring back constrution and general labor jobs.

Plus, higher tax is in the works - on business and more than just the top 5% to pay for BO's education, energy and health 'vision' for the future. We are screwed.

[95CobraR]

Originally Posted by cobra de capell

True - in the end, it's all about jobs. That's the issue relating to BO's stimulus and the new spending law - will they create jobs for the rank and file?

Nonetheless that the Stimulus bill is full of pork and earmarks; it does have some job creation (albeit, I'm glad that I am too old to have to worry about paying that federal debt back at some future time).

There are a few programs that will help certain people that must have had excellent lobbyists in Washington. One program has billions of dollars going to build infrastructure to enable internet connectivity to rural areas. These projects never made business sense before since the revenues would never carry the costs of installation.

I have a friend that owns a company that engineers all of the cable and fiber optic lines that will need to be installed. The engineers that work for him are basically people that have a Master's degree in Electrical Engineering. They will do very well, and they will use labor to dig the ditches that will be required to bury the lines. Of course, they'll hire immigrants to dig those ditches since the "poor" are too lazy to actually work.

Of course, Ayn Rand would cheer the people that work on the projects, but I am sure she would not approve of the government's heavy hand.

Ayn: "My philosophy is the concept of man as a heroic being, with his own happiness as the moral purpose of his life, with productive achievement as his noblest activity, and reason as his only absolute".
Atlas Shrugged (1957)

Here is a good summary of the Stimulus and Wealth Redistribution Bill: