The Obama Crash keeps going, "Death Cross" coming.

Jan 2009 Obama was swornen in. He was handed one of the worst economy since the Republican lead depression of the 30s. 740K jobs were being lost a month. Not good.

The stimulus bill kept us out of a 2nd Depression. Stablized the system, mostly. But, it has yet to bring back jobs. The question is how short lived will it be.
 
Problem was he should have laid down the law, not try to work together. All those bad mortgages? Either the banks should have been FORCED to renegotiate them or the government should have simply taken them over to administer. The TARP crap was crap. They should have taken a stake in the institutions so they could bleed those ill gotten gains back into the treasury.
They also should have replaced the FED with something run out of the treasury. Basically they should have skinned the crooks who broke the system and given the little guy a break.

The only fix for a system this broken is wealth redistribution. The guys that bought risky investments have to suffer the risk. You bought crap - it didn't pay - too bad - smarten up. With a stake in finance the government then could have redirected credit to productive businesses that need it to run and away from stupid financial scams. It would have taken brains, balls and good personal security (after all, it's no good getting assassinated half way through) but it also takes breaking up all of the giant media companies and PR houses that collaborate in spreading the propaganda that all of societies problems start with the poor and powerless. The powerless by definition cannot be responsible. Responsibility goes with power.

At least the old timey Jews had Jubilees to reset things. We need a better reset method than financial crashes.
 
faethor said:
The stimulus bill kept us out of a 2nd Depression. Stablized the system, mostly. But, it has yet to bring back jobs. The question is how short lived will it be.
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Nonsense, the porkulous bill made things far, far worse.
 
redrumloa said:
Blackburn: Stimulus Did Not Work

http://finance.yahoo.com/video/economy- ... k-20690195
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Oh dear. Poor woman. She knows the "populist talk" but she doesn't see it for the horse waste that it is. A government with no income is no government which I suppose is the goal. The tax increase is not an increase. When the sale is over and the prices go back to normal it isn't called a price increase, is it.
 
redrumloa said:
Nonsense, the porkulous bill made things far, far worse.
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Clearly in the short term they did not. We saw stocks go up. We saw houses come off the market. We saw cars sold.

In the long term? Time will tell.

I agree the government should be cut. We've spent higher in GDP in the past. But, none the less I think we should cut it back. The largest agency taking money is the Military. Anyone remember the $2.3Trillion misplaced that Rummy talked about on 9/10/01? Compare Freddie and Fannie a 23rd as much at $100Billion. I agree we should start cutting. I see it reasonable to cut the largest budget first and the most disappearing money first. In this case they are one in the same.

Oh and roll tax cuts back to pre-Reagan Era.
 
FluffyMcDeath said:
. A government with no income is no government which I suppose is the goal.
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The Libertarian ideal of no government is severly flawed, at best. Go live in Haiti or Somala for a month. Then come back and tell us how great it is with a straight face.
 
faethor said:
FluffyMcDeath said:
. A government with no income is no government which I suppose is the goal.
Click to expand...
The Libertarian ideal of no government is severly flawed, at best. Go live in Haiti or Somala for a month. Then come back and tell us how great it is with a straight face.
Click to expand...

In Haiti it is not a lack of government, but rather a corrupt one.
 
faethor said:
Clearly in the short term they did not. We saw stocks go up. We saw houses come off the market. We saw cars sold.

In the long term? Time will tell.
Click to expand...

Again, nonsense. Stocks went up, only so much as they stabalized temporarily. They are still below the long term averages and the lows will be tested and likely broken. Houses have *NOT* come off the market, this is a total farce. There is a "shadow inventory", housing has gotten worse. Cars sold? Short term at best due to the clunker bill. In reality, things are NOT getting better.

http://www.telegraph.co.uk/finance/comm ... -1932.html

The US media is in propoganda mode, parroting any nonsense Obama spews.
 
Why are you calling it "The Obama Crash" when it happened before he was elected. It should be the Bush crash, or perhaps more accurately, the Republican crash.
 
minator said:
Why are you calling it "The Obama Crash" when it happened before he was elected. It should be the Bush crash, or perhaps more accurately, the Republican crash.
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I don't disagree the crash started on Bush's watch, but Porkulous was Obama's baby along with all his other piss poor moves. The depths of the Depression will be Obama's doing.
 
Dow Repeats Great Depression Pattern: Charts
http://www.cnbc.com/id/38092759

The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression, Daryl Guppy, CEO at Guppytraders.com, told CNBC Monday.

“Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of that environment,” Guppy said.

The Dow retreated 457.33 points, or 4.5 percent last week, to close at 9,686 Friday. Guppy said a Dow fall below 9,800 confirmed the head and shoulders pattern.
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minator said:
Why are you calling it "The Obama Crash" when it happened before he was elected. It should be the Bush crash, or perhaps more accurately, the Republican crash.
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Or what about the neo-liberal crash? (that includes both republicans and democrats). Bill Clinton did not do anything about the neo-liberalism introduced by Reagan, nor did Bush sr./jr., nor Obama.
 
Speelgoedmannetje said:
Or what about the neo-liberal crash? (that includes both republicans and democrats). Bill Clinton did not do anything about the neo-liberalism introduced by Reagan, nor did Bush sr./jr., nor Obama.
Click to expand...

How about we call it the Reagan/Bush/Clinton/Bush crash. When some guy throws a molotov through your window and the fire-truck gets a flat tire on the way to your house, whose fault is it really that you have to sleep in a tent the next night?
 
More like, some guy throws a molotov through your window and the fire-truck shows and sprays napalm instead of water.
 
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