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| Obama sees little economy improvement | ||
| 2009-03-04 | ||
Barack Obama draws a gloomy picture of the US economy in the first quarter of the year, saying he sees "little promise" for improvement.
Trying to be transparent and outspoken about the economic downturn Obama said "From Wall Street to Main Street, to kitchen tables all across America, our economic challenge is clear." With a hefty 787 billion dollar stimulus plan, the first African-American President and his team pledged to save the sinking US economy, help the ailing US financial markets and create or save 3.5 million jobs over the next two years. Obama has vowed to pave the way for the Medicare to include more than 45 million Americans who are without any kind of insurance.
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| Posted by:Fred |
| #16 Will realise money don't grow on trees any day now. But it really does, take tree pulp and ink (Can be gotten from oak tree Galls) and you have cash money. |
| Posted by: Albert Snesh5991 Really Redneck Jim my nym refuses to stay put 2009-03-04 20:45 |
| #15 OTOH, TOPIX > OCTOMOM WANTS US$2.0MILYUHN FOR HER STORY. read, BAILOUT. D *** NG IT, POTUS OBAMA IS THE "FATHER OF OUR COUNTRY" [America = Amerika], ERGO BY DEFINITION HE's THE FATHER OF HER KIDDIES, ERGO BAILOUT??? |
| Posted by: JosephMendiola 2009-03-04 20:43 |
| #14 Awesome RW Shipman looks around.... Holds up score card... 9.95 on the Ima FuckUpScale! |
| Posted by: Shipman 2009-03-04 19:30 |
| #13 what is he doing a good job at, teaching the white house chef too cook chitlins? |
| Posted by: rabid whitetail 2009-03-04 19:27 |
| #12 The severity of the problem will only sink in to some less-aware Americans when their power is shut off, and food and gasoline are either prohibitively priced or just plain unavailable. |
| Posted by: Anguper Hupomosing9418 2009-03-04 18:49 |
| #11 I'd say malaise but I'm afraid it's gonna be a whole lot worse and it isn't funny anymore. |
| Posted by: Ebbang Uluque6305 2009-03-04 15:49 |
| #10 Following #6: I propose: a) that the kulaks be ordered to deliver all their grain surpluses immediately at government prices; b) that if the kulaks refuse to obey the law, they should be prosecuted under Article 107 . . . and their grain surpluses confiscated in favor of the state; 25 percent of the confiscated grain to be distributed among the poor peasants and economically weaker middle peasants at low government prices . . . Stalin, 1928. Read it, substitute abusive father overtone with today's nanny state rhetoric. Every time they talk about fart tax and dust tax or any other EPA/Fed involvement more than it is, this is what they are getting towards. Low grain prices (right now) with triple the taxes and Steinbeck's book would tame in comparison. There seems to be a spontaneous questioning if this is some sort of derrangement syndrome, there are people here who still wear their Obama shirts who are also worried. I don't think its some sort of ODS but more WTF. Car starts sputtering out in BFE, oil light comes on. Towtruck takes it to their garage. "Well what you need is more oil." Sure you say so they fill it it oil at 3x the price...also put oil in transmission, antifreez, and wiper fluid. Get a couple miles down the road and car wipes out. They come pick you up again and this time tell you the car is ruined; but "I got a car out back I could sell to you for a low price but anytime I need to use it I can come get it anytime for however long. Deal?" Thats when you realize that you should have watched that dude 'fix' your car, should have just bought the oil and limped into the next town. May have cost ya a good chunk of money but it would have been better than what's going on now. #2, I call that the Poll Bubble. |
| Posted by: swksvolFF 2009-03-04 11:31 |
| #9 Yes, Glenmore, that's how the banks have run the credit card scam for the last three decades as well. Before the Carter inflation set in and the banks got states to lift their usury law interest ceilings, it was hard to get a card. When the prime finally went to lower single digits the banks kept their rates pegged at the higher teens and low twenties. They then gave everyone and anyone a card because they could just pass the losses to the other card holders. Every responsible card holder was stuck with the 'bill' for those who shouldn't have received credit in the first place. Now they've done the same scam to the entire country while playing 'victim' to their own long established behavior. When Bush senior made of point of this usury scam, the bankers and their agents dumped on the stock market the next day and Bushie-I folded instead of threatening to use RICO if any one was caught playing that game. Instead of getting the regulatory correction we needed back then, we're now paying the price for not doing so. |
| Posted by: Procopius2k 2009-03-04 10:06 |
| #8 The market losses are to a large degree simply the recognition that the market gains of the past decade or two were largely illusions, built on pyramids of debt. The debt will not, indeed can not be repaid. It seems to me the government is managing that debt by 'printing' more money to pay it off. This transfers some (most) of the losses to those people and companies who did NOT have debt. The 'bills' will be paid by those who still have something with which to pay them. |
| Posted by: Glenmore 2009-03-04 09:51 |
| #7 Obama sees little economy improvement Smart guy, that Barry... |
| Posted by: tu3031 2009-03-04 09:36 |
| #6 My fear is, ...when these clueless bastards discover none of their bailout schemes are working and we're in total stagnation Well, what did Stalin do? |
| Posted by: g(r)omgoru 2009-03-04 09:30 |
| #5 there is going to be a silent majority type revolution. It's bloody already happening. Raise capital gains and diddle with the taxes, talk 'doom & gloom,' scare the banks, then wonder why people are pulling out of the market and not investing..... duhhhh? Americans know how to handle these donk clowns. They'll tighten their budgets, postpone large purchases, and squeeze that nichol until the buffalo shi*s. My fear is, 6-12 even 18 months from now when these clueless bastards discover none of their bailout schemes are working and we're in total stagnation, what kind of wild crisis will these people then create? |
| Posted by: Besoeker 2009-03-04 09:02 |
| #4 He is on a cliff and knows it. Every time he looks down he gets vertigo and its only a matter of time when gravity takes over. If you listened to Geithner yesterday you would have shaken your head in absolute amazement at his chutzpah (talking about going after tax cheats) and his complete ignorance of basic economics. I say that if his mortgage bill and budget go as he plans there is going to be a silent majority type revolution. |
| Posted by: Jack is Back! 2009-03-04 08:42 |
| #3 "Obama sees little economy" could arguably be as accurate. |
| Posted by: Grenter, Protector of the Geats 2009-03-04 08:31 |
| #2 But his poll numbers are still high - 60% believe he is doing a good job, according to a poll I heard this morning, and more folks think we're 'headed in the right direction' (46%) than any time since 2004. It's nice to have the Media Machine™ on your side. |
| Posted by: Bobby 2009-03-04 06:14 |
| #1 Will realise money don't grow on trees any day now. |
| Posted by: g(r)omgoru 2009-03-04 04:39 |