Obama leading US into Depression

[top gun]

Sense of scale--DJIA from 11/4/08 to 3/10/09:

But if one was being totally open and honest that's not really the whole point now though is it?

The OVERALL point is that the Bush Recession "worst economic downturn since the Great Depression" drug us on a downward economic spiral of which President Obama said from before he even took office was poised to get worse BEFORE it got better... and his prediction was absolutely correct.

Now we will see in the next few months things bottoming out and as President Obama's stimulus package starts to take effect the economic pendulum will start to move back up.

It's more than just a little funny that the Right is so worried knowing the tide is about to turn that they have to jump on board their "Bush's Recession should have been all fixed by now" crazy train.

I want everyone to watch what the Pubbies are saying it in a few months when all the economic indicators are once again climbing because glancing back it will be hilarious!

They'll be saying things like... Oh, this was gonna happen anyway... and... It would even be better right now if the President had just done nothing.

Poor guys... they just can't get it through their heads everyones way on to their whole Obstructionist gig! They're simply a bad cartoon of their former selves!

 

[asur]

This is Obama's Depession, Bush is not around.

Stocks wouldn't drop like rocks if they had faith in BO.

The market had one up day today, but it will collapse once
more bad news comes out.

Check this news

Hedge funds to cut 20,000 jobs in 2009

There were alot of job cuts today and most those jobs aren't coming back.

 

[PLC1]

But if one was being totally open and honest that's not really the whole point now though is it?

The OVERALL point is that the Bush Recession "worst economic downturn since the Great Depression" drug us on a downward economic spiral of which President Obama said from before he even took office was poised to get worse BEFORE it got better... and his prediction was absolutely correct.

Now we will see in the next few months things bottoming out and as President Obama's stimulus package starts to take effect the economic pendulum will start to move back up.

It's more than just a little funny that the Right is so worried knowing the tide is about to turn that they have to jump on board their "Bush's Recession should have been all fixed by now" crazy train.

I want everyone to watch what the Pubbies are saying it in a few months when all the economic indicators are once again climbing because glancing back it will be hilarious!

They'll be saying things like... Oh, this was gonna happen anyway... and... It would even be better right now if the President had just done nothing.

Poor guys... they just can't get it through their heads everyones way on to their whole Obstructionist gig! They're simply a bad cartoon of their former selves!

Bush didn't cause the global depression, either. The American President simply doesn't have that kind of power.

Blame Bush for what Bush did, blame Obama for what he is doing, but it's not intellectually honest to blame either of them for the economic problems we're facing currently. Bush's reaction to the recession was the same as Obama's in the final analysis: Try to use federal funds to bail out failing industries. Use deficit spending as a stimulus to the economy. Not much really changed when the new POTUS took over, at least not in the way the government is dealing with economic issues.

 

[Andy]

The Dow industrials closed up 379.44 points today, or 5.8 per cent, at 6926.49, marking its biggest percentage gain since November 21.

Why yes of course! It's up to 6926, from the 14K it was at in '08. Yes amazing. Looket Obama go!

 

[Andy]

This is Obama's Depession, Bush is not around.

Stocks wouldn't drop like rocks if they had faith in BO.

The market had one up day today, but it will collapse once
more bad news comes out.

Check this news

Hedge funds to cut 20,000 jobs in 2009

There were alot of job cuts today and most those jobs aren't coming back.

Actually this is true.

Obama did not cause the original problem, namely the pushing of sub-prime loans by Fannie Mae and Freddie Mac accordance with the Community Reinvestment Act. That, in combination with people taking out loans they couldn't afford, plus the free-market system running with sub-prime loans the government legitimized.

However, the market has reacted to Obama in a very real way. Each significant event involving Obama has resulted in mass negative drops in the market. This isn't surprising either. Obama openly supports and expands the Banking Bailout, the Stimulus package, and the take over of more companies. All of which are disastrous for investors.

For example, when the Government bought up a 79% stake in AIG, the result for investors was, all their shares in AIG were instantly reduced in value, because they now owned a much smaller stake in the company. This represents a massive loss in value to investors.

Logically, investors don't like to just lose billions in their investment, and the result is they are not investing. At a time when the US needs investments more than ever, the government is systematically making investments as unattractive as possible.

And worse yet, not one single bailout has had a positive result yet.

 

[Pidgey]

But if one was being totally open and honest that's not really the whole point now though is it?

The OVERALL point is that the Bush Recession "worst economic downturn since the Great Depression" drug us on a downward economic spiral of which President Obama said from before he even took office was poised to get worse BEFORE it got better... and his prediction was absolutely correct.

Now we will see in the next few months things bottoming out and as President Obama's stimulus package starts to take effect the economic pendulum will start to move back up.

It's more than just a little funny that the Right is so worried knowing the tide is about to turn that they have to jump on board their "Bush's Recession should have been all fixed by now" crazy train.

I want everyone to watch what the Pubbies are saying it in a few months when all the economic indicators are once again climbing because glancing back it will be hilarious!

They'll be saying things like... Oh, this was gonna happen anyway... and... It would even be better right now if the President had just done nothing.

Poor guys... they just can't get it through their heads everyones way on to their whole Obstructionist gig! They're simply a bad cartoon of their former selves!

You need to remember who you're talking to--I've been basically saying that neither party has it right and that this was coming regardless of who (which party) was in charge. Hell, they're both bad!

As an aside, let's tabulate some of the very worst of deregulation that helped cause a lot of this d@mn bubble:

Financial Services Modernization Act of 1999

...strongly lobbied for by this b@stard.

And let's not forget this turkey:

Commodity Futures Modernization Act of 2000

Those are the worst and they don't begin to cover it all. The Democrats in Congress in '93 were trying pretty hard to reign in the Federal Reserve with accountability and transparency, but Clinton didn't back them. The Federal Reserve fell more and more under the control of private financial interests. I think we now see where that's gone although I entertain no hope whatsoever that we've even come close to seeing all the damage.

Nobody with any real power has attempted to bring the true culprits to justice and so far Obama isn't demonstrating any effort that way, either. I know, I know... there's that pitiful crap that he's done that appears to be going after "those miserable rich b@stards!" but apparently that's to appease The Masses, making them THINK he's going after the real offenders. Mathematics will be teaching said Masses the bitter truth in the long run, though.

There probably are a few good politicians. Maybe. What I think they're good at is making most folks think they're on the correct side of a given debate all the while slipping in some really horrible legislation that's going to bite later.

 

[Pandora]

The Dow industrials closed up 379.44 points today, or 5.8 per cent, at 6926.49, marking its biggest percentage gain since November 21.

http://www.theaustralian.news.com.au/business/story/0,28124,25170254-5017999,00.html

Yes I saw that and Obama did speak (usually that makes it drop even faster)
but it kept going up.

Today was hopeful, I was very happy.

I dont feel like that trend is going to continue, but I wish it would. I want my retirement to be back where it was

 

[pocketfullofshells]

This is Obama's Depession, Bush is not around.

Stocks wouldn't drop like rocks if they had faith in BO.

The market had one up day today, but it will collapse once
more bad news comes out.

Check this news

Hedge funds to cut 20,000 jobs in 2009

There were alot of job cuts today and most those jobs aren't coming back.

so let me guess, day one, it was all his fault right? ignorant drivel

 

[pocketfullofshells]

Yes I saw that and Obama did speak (usually that makes it drop even faster)
but it kept going up.

Today was hopeful, I was very happy.

I dont feel like that trend is going to continue, but I wish it would. I want my retirement to be back where it was

a good start could be go back to 2000 and vote for someone not named Bush.

 

[Pandora]

a good start could be go back to 2000 and vote for someone not named Bush.

I did not vote for bush in 2000
but If I knew about the coming of 911 I would have changed my vote to bush

 

[Mr. Shaman]

I did not vote for bush in 2000
but If I knew about the coming of 911 I would have changed my vote to bush

....And, if you'd been old-enough, to vote, it'd have been official!

​

 

[Andy]

....And, if you'd been old-enough, to vote, it'd have been official!

​

You said she was young! The first nice thing you've said about a lady in your whole life I bet.

 

[Mr. Shaman]

"Lighten-up, my children. Everything's gonna be just fine. We Dems did it, in the 90s. We'll do it, again."​

 

[PLC1]

"Lighten-up, my children. Everything's gonna be just fine. We Dems did it, in the 90s. We'll do it, again."​

Is that Pope Clinton I?

The Dems did it? Did what? Your link indicates health care reform, which failed.

Maybe you mean that the Dems failed in the 90s, and so will fail again? If so, then who will fill the vacuum, the remnants of the Republican Party?

Oh, now I see. Both major parties will fail, and so it will be up to the Libertarians to take power and get the country out of the mess it's in. Good point.

 

[HankHill]

"Lighten-up, my children. Everything's gonna be just fine. We Dems did it, in the 90s. We'll do it, again."​

You mean we have to go through this again?

Clinton's presidency was marred by a long succession of scandals, including sexual harassment allegations, lawsuits, an accusation of rape, and, most famously, revelations that he had carried on a sexual affair with 21-year-old White House intern Monica Lewinsky. On December 19, 1998, after having perjured himself repeatedly before a grand jury, Clinton - on charges of perjury and obstruction of justice - became only the second President (after Andrew Johnson in 1868) in American history to be impeached, though he was not removed from office. In October 2001 he was disbarred from practicing law before the United States Supreme Court. He had previously had his Arkansas law license suspended for five years as a result of a disbarment lawsuit brought by a committee of the Arkansas State Supreme Court.

And this?

Hits on Americans by Islamic fundamentalists associated with bin Laden continued through the decade as the price for an administration that was derelict in its duties and traitorous in its effect. The nation was at risk while the commander-in-chief golfed, cavorted, dialogued or was otherwise unavailable for the ultimate task of defense against a foreign enemy.

I know we can expect this from Obumbler:

In short, Clinton placed his preoccupation with his own public image above the safety of his countrymen and the world at large. This was the most enduring legacy of Bill Clinton's presidency.