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

[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

[J. T. Toad]

deleted commentary

[cobra de capell]

[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
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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.

[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.

[J. T. Toad]

Cobra (SPACE) Bill

you never answered my question on the other thread.

[cobra de capell]

What Are the Odds of a Depression?

International evidence suggests there is a 20% chance our stock-market crash will lead to much worse.

htthttp://online.wsj.com/article/SB1...23967.htmlp://
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The more the government intervenes in a recession the longer and deeper it becomes. This is why the Great Depression lasted 11 years only to end because of the massive need for war production. There was even a recession within the depression in ‘37 and 38.

How FDR used the government to intervene was only a drop in the bucket compared to what Obama is doing. The question is not, “Could this lead to another great Depression” the question is “Who will stop this madness’!?

The cover of his budget is titled “The Era of Responsiblity”. Everything from this Administration is a deliberate attempt to deceive.

Obama’s goal is not economic recovery. His goal is a centrally planned government economy, Socialism which is a step away from Communism.

He gets asked a lot of questions. The one question President Obama needs to be asked is this, “Are you able to demonstrate a time in history when how you are using government to intervene has ever improved economic conditions?”

This level of spending is like saying gasoline didn't put out the fire, so let's try MASSIVE amounts of gas.

[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

[Fred Douglass]

That bumpa stickah is IT!!!!! Spectacular. Where do we send the money?

[Fred Douglass]

.."here's an udder thing"........

Dame Margaret Thatcher once said: "Sooner or later, Socialists run out of other people's money!"

Ar-OOOOOOOOOOO-gah!!!!!!!

[cobra de capell]

Originally Posted by Fred Douglass

.."here's an udder thing"........

Dame Margaret Thatcher once said: "Sooner or later, Socialists run out of other people's money!"

Ar-OOOOOOOOOOO-gah!!!!!!!

True, but that takes a long time when the socialists have a currency printing press! By the way, I'm not going to have the bumper sticker made up - just not just interest in it.