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| Home Front Economy |
| Obama's Gamble |
| 2009-03-11 |
| By Tony Blankley Many of the media are following the convention of assessing President Barack Obama's first 100 days in office. The term first was applied to new American presidents during Franklin Roosevelt's spring of 1933, when, between March and June, he proposed and Congress passed unprecedented federal programs: the Agricultural Adjustment Act, the National Industrial Recovery Act, the Securities Act, the Banking Act and others. But Obama may wish to note that the term "100 days" derives from Napoleon's escape from Elba in March 1815, his brilliant reforming of an army, his march through France, and his final defeat by the British and the Prussians at Waterloo. It's up in the air which precedent will apply to Obama. |
| Posted by:Omoter Speaking for Boskone7794 |
| #2 There are 2 issues here. What to do about about the gazillion $ in derivatives? Answer = Nothing. Everyone who bought or sold these needs to lose every penny. When they do, those with even small amounts of capital left will clean up by buying much cheaper assets and much cheaper goods and services. 2. Obama is using the crisis is using the crisis as a means of advancing his ideological agenda. All politicians do this. It's just he has got access to a much bigger bucket of money than usual and his agenda is unsually extreme. And he is surrounded by people who know that point 1 will financial wipe out everyone they know. In summary, letting the derivatives tsunmai happen will devastate what Americans might call the blue state ruling classes, and leave small business people and the working middle class in control for a generation. |
| Posted by: phil_b 2009-03-11 20:39 |
| #1 You don;t need a poll to see a forking Moron. Way out of his depth, and floundering. |
| Posted by: Redneck Jim 2009-03-11 13:05 |