6 Responses to “He Knows It All”

1. myna says:

   February 19, 2009 at 4:35 pm

   That’s what you get when you govern by winging it.
2. Richard says:

   February 19, 2009 at 4:39 pm

   It can be argued whether the New Deal worked or not, but what was one characteristic of Roosevelt did during the Depression? It was shared by Reagan in the early 80′s. They were optimists. They communicated in such as way that people believed things were going to get better. They help America believe in herself again.

   Contrast this to the doom and gloom of Obama, and its no surprise that people are less confident now. He doesn’t need to put on rose colored glasses, but we’re America. We’ve been through this before and survived! But I don’t believe he understands the intestinal fortitude of the average American. I don’t think he believes in the potential of this country, or the uniqueness of the people. So without these core principles to guide him, he is unable to communicate an optimism that people can rally around.
3. mds123 says:

   February 19, 2009 at 4:57 pm

   optimism, shmoptimism…

   there is nothing – repeat NOTHING – that the new administration has done or is doing that is reducing uncertainty in the marketplace…to the contrary, every trial balloon, public pronouncement and ‘plan’ – i use the word loosely – raises more questions than it resolves…

   …it is difficult for investors AND consumers to decide what to do with their money when it’s not clear whether prices will be up or down in 40 days; whether mortgages will be renegotiated in 90 days; or whether failing automobile companies, failing auto suppliers, and failing financial institutions will be ‘bailed out’ with taxpayer money in 120 days….

   …indeed, what does ‘rational’ investment or consumption look like in such an environment…

   ‘trust me’ doesn’t work when it’s clear there’s no coherent – or even incoherent – set of plans, principles and promises to trust…

   …vagueness is the enemy and the manner in which it is now COMPLETELY unclear how the ‘porkulus’ funds will be dispensed and monitored only thickens the fog…

   …expectations matter and this administration has done a worse job managing them around the economy than gwb did managing them around iraq…

   obama needs a ‘petraeus of finance’ to lead this economic counter-insurgency…
4. huxley says:

   February 19, 2009 at 5:12 pm

   That’s what you get when you govern by winging it.

   That’s what Obama admirers call pragmatism.
5. DocC says:

   February 19, 2009 at 5:37 pm

   “This not the way to get out of a recession.” Is it conceivable that the Alinsky-trained Obama is clever and devious enough to not want to get out of a recession? Things get worse, he grabs ever more power and control of the economy. What is the incentive to implement options that historically have proven effective in correcting crumbling economies. What’s next: elimination of opposing speech and ideas? Controlling the census? Arranging to run for a third term and more (ala Chavez)? Emanuel told us that “chaos” presents a grand opportunity!
6. Joe NS says:

   February 19, 2009 at 5:53 pm

   Doc, as Lenin often put the matter:

   “The worse the better”

   That was one of his favorite maxims BEFORE the Bolsheviks seized power, and THAT’S what’s truly worrying if what you’re suggesting is correct.
7. OnceAGreatNation says:

   February 19, 2009 at 11:04 pm

   I concur with DocC. The Won’s actions are what I expected given the significant associations in his life (e.g., Rev. Wright and Bill Ayers). I fully expected him to bring this nation to its knees, providing reparations along the way in the way of homes to those who had not earned them the old-fashioned way. To have expected that this president would do anything for the good of our nation was completely unrealistic. He’s reshaping this country, folks; you have to realize this.
8. John Hartland says:

   February 20, 2009 at 3:27 am

   Gee, the Bund‘s lying, drunken war criminal of a fake Republican president hasn’t even been out of office for a month, and the fifth columnists are already blaming him for everything that was handed to him. Keep trying, Nutcases! The public’s not buying it.
9. Barbara says:

   February 20, 2009 at 9:55 am

   Wunderkind Tim Geithner was with Obama in Arizona. Why isn’t he locked in a room with staff hammering out a bank plan? Or locked in a room assembling a staff? Like a jury: you can’t come out until you’ve got something.
10. dale says:

    February 20, 2009 at 10:22 am

    I have heard that the likelyhood of the total failure of Citi-bank this weekend is at about 90+ per cent and that also bank of America is soon to follow with a chance in the 84+ percentile. Also a little known possibility will be the failure of Compass bank Holdings.
11. ChipD says:

    February 20, 2009 at 11:41 am

    Well, hold just a moment:
    First, why is there all this awe and reverence for the wisdom of the stock market, as in, “Well, the Dow dropped after this or that event, surely a sign it is a bad idea…”
    Isn’t the Dow driven by the very same speculators and idiot lemmings who brought us this disaster?
    Stockbrokers can only see as far as the next micro-tick of the board, and to ascribe some sort of wisdom or sage counsel is foolishness.

    Second, as I recall, during the 1980 campaign, Ronald Reagan was savage in his denunciation of the Carter-era economy; it was only after he settled into office that he sounded upbeat about it; or to be more blunt, only after his tax cuts and spending bills were safely passed, did he stop the drumbeat of warning cries about inflation and unemployment, and begin to praise the economy that he now owned.

    I expect Obama, once he gets his own economic plan passed, to turn about and begin boosting “his” economy, and the GOP to be the voice of criticism and pointing out the bad news.
12. HJFudge says:

    February 20, 2009 at 2:30 pm

    Its an interesting theory.

    Basically you have two possibilities here, given the information provided in this article: Either a) Obama’s doom and gloom talk is making the private sector nervous and thus tanking the economy even further OR b) The private sector is melting down at a greater and greater pace and thus Obama is warning the country of Doom and Gloom ahead.

    Its the old Chicken or the Egg thing.

    Now, evidence SUGGESTS that its B. Why? Because the economy began its downward spiral well before Obama took office or was even elected. This is an event that has been in the making for some time now, with multiple causes. Unfortunately for us all we ARE falling off a cliff. A very very big cliff. What hopefully will happen is that Obama will institute policies which will help a) stop the freefall then b) get us on an upward path. It remains to be seen wether or not his policies will have that effect. Smarter folks then you or I cant seem to agree on what effect his policies will have.

    Though I am heartened to hear of wallstreets distaste for much of Obama’s plans…(though the market MIGHT be responding to, you know, market forces such as layoffs, rising consumer prices, etc…novel concept I know) …simply because whats good for wallstreet in recent years has been not so great for main street.

    Though Ideally both will do well in the coming years. We will see.
13. Dave H says:

    February 20, 2009 at 2:47 pm

    Historical facts: Average length of time it takes market forces to reverse a recession: 10 months (US gov’t statitics on average length of all previous post-war recessions, prob. also applies to the numerous 19th Cent. recessions). Average length of time it take massive government spending to reverse a recession: 10 years or more (see, e.g., US 1930s, Japan 1990s)

    Where is Santayana when you need him? And what the heck DO they read at Columbia and Harvard, because nothing that touches on either history or an understanding of market forces is apparent in the Administration’s “handling” (an insult to handlers) of the current downturn.
14. Brian says:

    February 20, 2009 at 2:54 pm

    Please…Obama has preformed terribly his first month, but you amnesiacs have somehow forgotten how we arrived at this point. If republicans had principles and a successful Bush presidency, there would be no Obama.