The Obama Economy

[cobra de capell]

The Obama Economy

As the Dow keeps dropping, the President is running out of people to blame.

In part...

The market has notably plunged since Mr. Obama introduced his budget last week, and that should be no surprise. The document was a declaration of hostility toward capitalists across the economy. Health-care stocks have dived on fears of new government mandates and price controls. Private lenders to students have been told they're no longer wanted. Anyone who uses carbon energy has been warned to expect a huge tax increase from cap and trade. And every risk-taker and investor now knows that another tax increase will slam the economy in 2011, unless Mr. Obama lets Speaker Nancy Pelosi impose one even earlier.

http://online.wsj.com/article/SB123604419092515347.html
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The market is up as I key this in, but not much. I have a small amount in the market - lost 40% so far - advisors are saying that it may take 3-5 years to make the loss back. I tend to believe that estimate.

There seems to be a disconnect between the Obama Administration and the rest of America. We're screwed.

[Ron61]

But Ray, the Messiah just said on TV that now is a good time to invest in stocks while they are so low. Of course many of those companies won't still be around in a short time, but he can claim he tried to jump start the economy by encouraging investment by the lower class.

Ron

[cobra de capell]

True, but Obama's private life was that of a Community Organizer and activist, drug chipper and student, so what does he know about the stock market?

Now, if he'll step in an make up all the losses since he was elected, I'm in!

[Ron61]

And all this time I thought it was just a way to make the poor people more dependant on him and his bunch of people once they lost what little they had. Guess I had better rush out and buy a lot of GM stock before it gets back to costing more than a spark plug.

Ron

[trularin]

You act like this instantly happened.

Remember, Rome wasn't burned in a day.

[cobra bill]

Originally Posted by trularin

You act like this instantly happened.

Remember, Rome wasn't burned in a day.

It's what there supreme commander Rushy Limpballs told them to say, and if they repeat it enough it has to be true!

[Dan40]

Originally Posted by cobra bill

It's what there supreme commander Rushy Limpballs told them to say, and if they repeat it enough it has to be true!

OK Bush was bad!
That makes it OK for obama to be MUCH worse???.......NO!!

You guys are always saying the election is over, move on. Well, we are in the obama era, and it has a very noxious odor.

Bush upped the national debt $5 TRILLION in 8 years, THAT IS AWFUL!

obama has upped it $3 TRILLION in 6 WEEKS, and he's only warming up.

He said CHANGE, people want to think that means FIX, but it only means somebody else is taking the money now [and more] [and faster].

Dan

[cobra de capell]

[Ron61]

CB,

It's what there supreme commander Rushy Limpballs told them to say, and if they repeat it enough it has to be true!

By they I hope that you are not including me in a group that you have decided is to dumb to live with you and your great Messiah. I don't listen to radicals on either side and I make up my own mind. And in case you are unaware of it, the smilies are to show that my posts were made in a joking manner. If I meant then to be serious there would be no smilies.

Ron

[cobra de capell]

Originally Posted by cobra bill

It's what there supreme commander Rushy Limpballs told them to say, and if they repeat it enough it has to be true!

Repeat after me......

[cobra de capell]

Originally Posted by trularin

You act like this instantly happened.

Remember, Rome wasn't burned in a day.

And, also this ---

FDIC’s Bair warns on bank deposit insurance fund

http://www.chron.com/disp/story.mpl/front/6293463.html
____

Think about this - at the end of 2007 the FDIC balance sheet indicated a reserve balance of just over $53 Billion. That report was issued on February 15, 2008. It’s now March 4, 2009 and no report covering 2008 has been posted for review.

There are two important facts to note about the balance sheet.

First, as of December 31st (2007), the FDIC only anticipated losses of insured institutions to amount to $124 million. Now with IndyMac alone estimated to cost between $4 to $8 billion, how realistic is their assumption about future losses?

Second, about $46.5 billion of their assets are held in U.S. Treasury securities and mostly at face value. Two questions arise. What is the market value of those securities today? What might the market value of those securities be if they lose their AAA rating?

Thus, it should be apparent that if additional financial institutions go under, the staff of the FDIC will be swamped and their reserves will be significantly reduced, particularly, if another large institution fails. It should not be forgotten that many of these financial institutions are interwoven into a financial web. When one part of the web is torn, it affects the entire structure.

The FDIC is in big trouble and now they must take funds from the Banking Industry to stay afloat - we just may be doomed.

On the other hand, just think what would happen if the FDIC was not able to pay out deposit balances when necessary - therefore, if the FDIC goes south, America goes south. Unfortunately, with what is happening - that scenario becomes a possible scenario.

The collapse of the FDIC would wipe out middle class savings (which have been increasing by 5% lately). Obama doesn't care about the FDIC. It will make more people wards of the state faster and this is the goal. No individual wealth and no individual power. Look what they are trying to do to Rush this week. Destroy the individual and leave only the state and those who are privileged to run it.

[J. T. Toad]

deleted commentary

[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.

[cobra de capell]

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.

The view from the left is always good for a laugh.

Say, Bull - do you actually believe that anyone here cares what you have to say about the economy? We can get the same view from Network news or the dailykos or even the democratunderground - you should go there and post with your leftwingnuts. By the way, "economic condition was kept secret" sounds like a conspiracy - I wonder if the stock market knew and when it knew it. Also - generalization such as "all the other experts say we have not spent enough" - that's a lie. Too bad that's not criminal, I'd make a citizens arrest.

[Juggernaut]

cobra bill: "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."

cobra bill, I'm not an economist and I've heard that statement you made many times in the past month. Please explain to me exactly how the above statement you made will help us and give me an example of how it has stimulated the economy in the past.

Please educate me.

Thanks

[cobra bill]

cobra bill, I'm not an economist and I've heard that statement you made many times in the past month. Please explain to me exactly how the above statement you made will help us and give me an example of how it has stimulated the economy in the past.

Please educate me.

Thanks[/quote]

Well it's pretty simple, if we spend money to repair infrastructure, that money will go to small businesses who bid on the work, they in turn hire people to do the work, they in turn buy things because they are happily employed, this keeps other people building those things, keeping them employed, and they in turn spend money as well, and so on and so on, there by stimulating the economy.
OK I know there are those small minded people out there that will throughout some distracting childish name calling, and that's fine! if all they can do is call people names and have no ideas of their own, it's no wonder we find ourselves ware we are, we have had 28 years to study reaganomics, and it's an outright failure! trickle up works, not trickle down. and by the way calling me a liberal does not hurt my feelings, I am proud to be a liberal.
it's been 30 years of hate radio that has been spewing out all this rhetoric about the evil liberals, NOT SO, I am an American first and foremost, I volunteered to fight for my country and I have been in service to my country for the last 35 years, and I will always put country first not politics. That said I will be the first to stand up when a group of crazed lunatics take over a political party and subvert the constitution, as shown by the last administration, and yes because of that for the first time in my life I participated in getting someone elected to office, had it been the democratic party involved in the same criminal behavior I would be working for the opposing party to get them elected, it is after all our only recourse as a citizen.

[VRM]

C B,
Trickle down does not work by itself. Neither does trickle up. You have to balance the two for the best effect.
Henry Ford got it right when he paid his employees enough to be able to afford the product he manufactured.

Some spending on infrastructure is good because of the reasons you mentioned. But I just don't think that the spending bill is a good one. Too much pork, and not enough of a bold and simple statement to the middle class who really are the only ones who can start the turnaround in the short term.

Steve

[Juggernaut]

cobrabill:

Sounds good in theory, but do you have an example to show that it works?
I see that as possibly a short term fix, but what about the HUGE deficit it creates for our grandchildren to contend with? What's in their future?? Where is the money coming from, gotta think about that too. We simply DO NOT have the money. Seems like a stupid business decision to me.

And if I own a small business selling saddles, horse supplies, etc., how exactly does rebuilding infrastructure help me?

28 years of reagonomics, been pretty good for me, probably pretty good for you to.

Don't talk about name calling either, a ton of your liberal politicians have been doing exactly that with Bush for the last 8 years and some left wing wackos are still doing it!

30 years of hate radio as you call it haven't formed my views of liberals, I formed my own views of them by watching what they do & how they act. Don't try to blame talk radio for the way liberals are perceived, thats pretty lame.

By the way, how do you like the way Pelosi is running the country so far, Obama is just a puppet.

Of course, this is just my right wing, hate monger, wacko opinion.

Thanks for the education.

[Fred Douglass]

....I'd only add my explanation of those earmarks.........have you seen the Obamessiah's freakin' EARS?

Oh......my.....dawg! First and foremost, he definitely is Pinnochio----but he's also DUMBO----and wait 'til he flies over and unloads some more Dumbo "product" on us! That's usually daily, isn't it? Or is it hourly?

Ar-ar-ar-OOOOOOOOOOOOOOO-gah!

[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