Hope Obama"s win will bring USA out of slowdown.

This all happen due to a single man"s mistakes and that is Bush. Am I right ?

 

He didn't do it alone and it has been happening for some time. But yes I think Bush has a lot of blame to carry. We may have been headed into an economic slump for a long time but his unprecedented spending is like throwing a grenade on a fire to put it out.

 

LOL. Thats the popular opinion these days, but no, not a chance. When something like our current crisis is rocking the boat everyone looks for a Jonah to toss overboard to appease the sea gods, but it doesnt work out that cleanly (unless you believe in sea gods and magic, in which case I apologize for disparaging your religion). They dont get cured by simply changing the nameplate on the oval office desk either... no matter how charismatic the new occupant. Unless Obama owns a magic wand we have a long slog ahead of us before we get outta this, and some uncomfortable and unpopular decisions are gonna have to be made and implemented.

The problem is no matter who moves into the big white house... making uncomfortable/unpopular decisions generally isnt their first preference. Nobody wants to take yucky tasting medicine, but this country isnt gonna get better until it gets past the idea we can wish our way outta this without making structural changes in our spendthrift ways and quit looking to government programs and spending as the answer to every problem.

There's a reason charlatans in this country can get rich selling pills that "Burn fat while you sleep!". Everyone's too damned lazy to diet & exercise... and thinks there's gotta be a painless way to get the effect without the effort. Everybody wants to dance, nobody wants to pay the fiddler.

 

Things will probably get worse for a while. Nobody knows how long this recession will last. It could last just a few quarters or a few years. Obama could very well end up getting blamed no matter what he does. This seems like a really shitty time to be President.

 

Rush Limbo is already blaming Barack.

His show is so ridiculous and offensive I don't understand how he still has a good sized audience.... but then Howard Stern is popular too so... :shrugs:

 

The US needs to save more money. The saving rate in China is 50% and South Korea and Japan save 30%. Germany also has a high savings rate.

The US has a negative savings rate. At some point you have to pay the piper.

Obama s part of the mess. He has been part of the Democratic Majority in the US Senate for the last four years.

Obama has also taken a lot of money from Freddie Mac/Fannie Mae.

 

No argument with you there.

Sean Hannity and Rush Limbaugh are actually trying to BLAME the entire recession on Obama before he even gets in office. They are calling it the "Obama Recession".... Yeah I know... I LOL'ed too

Not like record job loss, multiple BILLION dollar corporations failing or on the verge of failing, or pouring $10 BILLION a month into Iraq have anythign to do with it. . This is obviously ONLY Obama's fault.

 

Hannity's a cock. At least Rush is funny.

 

Wall Street has tanked after Obama was elected.


Obamanomics Is a Recipe for Recession

if the proposals espoused by candidate Obama ever became law, the American economy would suffer a serious setback

Obama would raise the top marginal rates on earnings, dividends and capital gains passed in 2001 and 2003, and phase out itemized deductions for high income taxpayers. He would uncap Social Security taxes, which currently are levied on the first $102,000 of earnings. The result is a remarkable reduction in work incentives for our most economically productive citizens.

Despite the rhetoric, that's not just on "rich" individuals. It's also on a lot of small businesses and two-earner middle-aged middle-class couples in their peak earnings years in high cost-of-living areas. (His large increase in energy taxes, not documented here, would disproportionately harm low-income Americans. And, while he says he will not raise taxes on the middle class, he'll need many more tax hikes to pay for his big increase in spending.)


http://online.wsj.com/public/article_print/SB121728762442091427.html

 

obama hasn`t got a magic wand or something...
i don`t think he could do any better!!

 

Psst... hey bogus..... it tanked BEFORE he was elected as well.

 

What happened between September 22 and Oct 27 that made the DOW lose 3000+ points?

http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=3&dy=0&id=p35029922402

 

Acorn had a big role in the current housing mess and Obama has deep ties to acorn. Obama is not alone. Barney Frank's fingerprints are all over the housing mess.

http://www.youtube.com/watch?v=DQVKiOwTKCo

 

Crazy_Rob, quit playin around. bogart is one of those link posting bots isn't he? You just feed him a bunch of conservative propaganda and watch him go! You guys need to code some question answering logic into him though. It's getting a little old playing with bogus like this.

 

I've seen communism at work first hand behind the iron curtain. I had a day job Deutsche Demokratische Republik (DDR). Believe me, Karl Marx didn't have the answer ... The Berlin Wall fell.

 

Ok everyone... all together now.....

WHAT???

 

What about the role of the cabinet department, HUD?

 

HUD Sec. Andrew M. Cuomo was the mastermind of the housing mess.

http://www.washingtonpost.com/wp-dyn/content/article/2008/06/09/AR2008060902626.html

 

http://en.wikipedia.org/wiki/Subprime_crisis_impact_timeline

Sure we know the democrats played a role in it. What I'm trying to do is be honest and examine who was in on it from both sides. In 2004 HUD was operating under Republican rule, both in the executive branch and legislative.

I thought after the election was over that we might be able to talk about this honestly.

 

Goldman Sachs and Merril Lynch have announced that they will be paying out approx $6 Billion in bonuses each. That's 12 billion of your bailout money going to Wallstreet fatcats.

http://www.cbsnews.com/stories/2008/11/12/earlyshow/main4595179.shtml

Bush got sucked into the mess no doubt but it was already full steam ahead when he took office.