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2011-06-05 Economy
Obama Blames Europe, Japan for US Economic Woes
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Posted by g(r)omgoru 2011-06-05 02:36|| || Front Page|| [11127 views ]  Top

#1 So it's got nothing to do with mortgage arrangements for low income Americans which started the global anus flinch back in 2008?

I suppose Fannie Mae and Freddie Mac weren't US government sponsored enterprises either so there can be no suggestion this was in any way linked to government policy.

Please Obama; give us a little credit for our intelligence; please exercise some self-restraint, don't try to manipulate recent history for the benefit of votes.

My bet for the 2012 'alternative' Obama slogun
'don't vote for change'
Posted by Kojack 2011-06-05 03:48||   2011-06-05 03:48|| Front Page Top

#2 Kojack, that was beautiful.

I couldnt add so much as a single word. Well, said.
Posted by  de Medici 2011-06-05 07:31||   2011-06-05 07:31|| Front Page Top

#3 Low income Americans were buying, and predictably defaulting on, $70,000 houses; those are not the bulk of the multi-trillion dollar non-performing mortgage problem. It takes 5 of those defaults to add up to one HGTV watcher/would-be house-flipper (or other middle class vacation home/McMansion buyer) who got caught when the music stopped - and there are LOTS of predictable defaults in those middle class 'investments'.
Posted by Glenmore 2011-06-05 07:54||   2011-06-05 07:54|| Front Page Top

#4 a domestic recovery that is showing signs of slowing down Oh, please, there never was one, how can it be slowing down? Pay no attention to the massive pile of bad debt and CDS's with nothing behind them, they don't count.
Posted by Anguper Hupomosing9418 2011-06-05 08:18||   2011-06-05 08:18|| Front Page Top

#5 Japan and Europe cannot be blamed; George W Bush never lead Japan or any European country.
Posted by Airandee 2011-06-05 08:38||   2011-06-05 08:38|| Front Page Top

#6 This is why they close banks on Fridays so people won't notice the continuous drip drip drip of an economic Chinese torture. If everyone kept track of the bank closings as an indication, they'd certainly perceive there hasn't been any significant change.
Posted by Procopius2k 2011-06-05 08:41||   2011-06-05 08:41|| Front Page Top

#7 Having exhausted all credibility on the "it's Bush's fault" canard, he now turns on our allies.

Obumble needs to look into the mirror and do something besides preen.

He has turned a burst bubble and turned it into a depression
Posted by regular joe 2011-06-05 09:21||   2011-06-05 09:21|| Front Page Top

#8 As Designed.
Posted by CrazyFool 2011-06-05 09:28||   2011-06-05 09:28|| Front Page Top

#9 Glenmore,
You are correct but incomplete. Most of the trouble, according to my RE specialist son, was a result of the $70,000 rules being applied to McMansion type "speculators". The big problems, at least in the Boston area, are the fancy mortgage instruments designed (on the face of it) to help the folks buying $70,000 shacks were applied to young folk with no money or established credit history in the market for big places on highly contrived variable rate / balloon style contracts.

When their humanities degrees didn't get them jobs making $100,000 a year the $#!^ hit the fan when those rates started changing. Same for the speculators cause their market disappeared.
Posted by AlanC 2011-06-05 10:50||   2011-06-05 10:50|| Front Page Top

#10 This is like blaming a meteorite shower for increasing your mortgage payments.
Posted by Charles 2011-06-05 11:43||   2011-06-05 11:43|| Front Page Top

#11 "unease about the European fiscal situation"

So employers in the U.S. (except McDonalds) are not hiring because they feel uneasy about Europe? And an earthquake in Japan?

What's next? Concerns about sheep milk prices in Andorra? Dropping numbers of yodel diplomas in Liechtenstein?
Posted by European Conservative 2011-06-05 13:33||   2011-06-05 13:33|| Front Page Top

#12 Obama came
Your dollar got turned into small Change.

Hope you elect someone competent.
Posted by Bright Pebbles 2011-06-05 13:51||   2011-06-05 13:51|| Front Page Top

#13 Except mikky d's got a waiver, allowing them to hire. Coincidence?
Posted by swksvolFF 2011-06-05 13:54||   2011-06-05 13:54|| Front Page Top

#14 "What's next? Concerns about sheep milk prices in Andorra? Dropping numbers of yodel diplomas in Liechtenstein?"

Good grief, EC, please don't give this clown any new ideas. [And I'll bet he thinks the people in Andorra speak Andorran. :-( ]
Posted by Barbara Skolaut 2011-06-05 15:34||   2011-06-05 15:34|| Front Page Top

#15 Dropping numbers of yodel diplomas in Liechtenstein?

Hey! I actually worry about this! 8-)
Posted by Chavinter Hupavirong3890 2011-06-05 15:46||   2011-06-05 15:46|| Front Page Top

#16 Barbara, he skipped Germany on his last visit to Europe.

Looks like he didn't want to get confronted with dropping unemployment rates and a booming economy.
Posted by European Conservative 2011-06-05 16:38||   2011-06-05 16:38|| Front Page Top

#17 Didn't he recall his ambassador to Liechtenstein?
Posted by swksvolFF 2011-06-05 17:47||   2011-06-05 17:47|| Front Page Top

#18 "Barbara, he skipped Germany on his last visit to Europe."

Lucky Germany.
Posted by Barbara Skolaut 2011-06-05 19:39||   2011-06-05 19:39|| Front Page Top

#19 He is still mad at Merkel because she denied him his stage at the Brandenburg Gate when he was a campaigning senator.
Posted by European Conservative 2011-06-05 20:02||   2011-06-05 20:02|| Front Page Top

#20 Good for Merkel, EC.

I y'all are lucky, he'll stay mad at her.
Posted by Barbara Skolaut 2011-06-05 20:40||   2011-06-05 20:40|| Front Page Top

#21 Guess we'll survive the remaining 18 months of his lacking attention.

The GOP better get ready for a viable candidate though
Posted by European Conservative 2011-06-05 21:04||   2011-06-05 21:04|| Front Page Top

#22 Thus far only declared POTUS Candidate NEWT GINGRICH appears to have the stuff to take on Osama in 2012, ergo Newt is being harshly attacked in the MSM early on for his marital state of affairs + ultra-Right image.

IIRC POTUS BAMMER = want to be arrested + tried before INTERNAT SHARIA COURT FOR "CRIMES AGZ MUSLIMS"???
Posted by JosephMendiola 2011-06-05 23:31||   2011-06-05 23:31|| Front Page Top

#23 US Politicos know full well that capitalist free markets rise + fall in cycles, + that temporary Govt. intervention may prove necessary when the economy is bad, thus of course they spent what $$$ protective hedge = reserves the US could have used in contingency regardless of whether the econ was good or bad.

NOW THAT THE US PER SE NEEDS IT, THE $$$ BULWARK IS NOT THERE BECUZ IT TWAS SPENT ALREADY ON VARIOUS POLITICAL WHIMS.
Posted by JosephMendiola 2011-06-05 23:41||   2011-06-05 23:41|| Front Page Top

00:04 trailing wife
00:00 trailing wife
23:54 CrazyFool
23:47 CrazyFool
23:46 RandomJD
23:41 JosephMendiola
23:31 JosephMendiola
23:23 Water Modem
23:21 JosephMendiola
23:16 JosephMendiola
23:15 Zebulon Thranter9685
23:10 Anguper Hupomosing9418
23:10 Water Modem
22:58 JosephMendiola
22:49 JosephMendiola
22:25 Zebulon Thranter9685
22:17 Barbara Skolaut
22:16 Pappy
22:14 Zebulon Thranter9685
22:04 Zebulon Thranter9685
21:57 Redneck Jim
21:50 Pappy
21:41 Anguper Hupomosing9418
21:36 Anguper Hupomosing9418









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