More validated evidence of destructive Obamanomics

[deleted15807]

For 50 years since the Great Depression we had no financial meltdowns thanks to regulations put in place after the Great Depression until the Republicans got into office and bamboozled the US into thinking that regulations were bad for business so they got rid of them. Then boom what happens? Another meltdown but this time big government steps in with trillions of dollars to keep Humpty from falling off the wall and only Alan Greenspan was brave enough to admit the mistake and take blame for it. Yet the manwhowasoncebannedbutnowisinexplicablyback tries to blame Obama who has been in office for 12 months. Sweet.

The Day The S.E.C. Changed The Game

Agency’s ’04 Rule Let Banks Pile Up New Debt

 

[B_starinvestor]

Tha's why I used the word "or." I meant it is another option to looking at non-partisan, non-ditto head media. Rachel is smart, detailed and respectfully engages her ideological adversaries with facts and well-reasoned arguments. She doesn't shut people up. She doesn't talk down to them or work to embarrass her guests.

I do watch Maddow from time to time. I can't even take Hannity, he's turned into an idiot over the last year.

 

[B_starinvestor]

tries to blame Obama who has been in office for 12 months. Sweet.

The Day The S.E.C. Changed The Game

Agency’s ’04 Rule Let Banks Pile Up New Debt

Nope. Just pointing out that he isn't fixing anything, and his countless lies/fabrications have done nothing more than cause more damage amidst a reckless and ineffective spending agenda.

 

[DadsAreUs]

I do watch Maddow from time to time. I can't even take Hannity, he's turned into an idiot over the last year.

I don't think he turned into an idiot. He simply became entirely incapable of concealing it from even those who might otherwise agree with him. The rest of us new all along.

 

[DadsAreUs]

Nope. Just pointing out that he isn't fixing anything, and his countless lies/fabrications have done nothing more than cause more damage amidst a reckless and ineffective spending agenda.

Most economists, even right wing economists like the one on McCain's campaign, believe that It is Obama's policies, particularly those like bailing out the auto industry, cash for clunkers and, yes, the stimulus, that have not only begun to create growth and slow job losses down to a trickle but actually prevented a complete Great Depression-like melt down of the entire economy and the financial sector.

Most economists also agree that short term deficit spending is necessary in a recession. It would have been better if we weren't in such a huge deficit hole when that spending started but the alternative was not pretty. The direction of spending now, with it's aim at remaking our nations's infrastructure, developing domestic clean energy sources, the sorts of targeted tax credits being proposed by POTUS tonight, should have been enacted in 2001, when the government was running surpluses and there was no way for the private sector to absorb that money without creating a bubble.

 

[ZOS23xy]

One cannot take STARINVESTOR for real as long as he used that photo for his avatar.

 

[deleted15807]

'Killing the economy' update from no less than the right wing rag WSJ:

Evidence Mounts of Strong Recovery

By MARK WHITEHOUSE

Shoppers turned up in surprising force at U.S. stores, auto dealers, restaurants and elsewhere in March, adding to a growing sense that the recovery could prove faster than anticipated.


Combined with a rebounding service sector, rising financial markets and new efforts to forgive mortgage debts, March's 1.6% surge in retail sales is tempting forecasters to upgrade their assessments of the economy's ability to restore the 8.2 million U.S. jobs lost since the recession began.

~

"There's a growing risk that we're underestimating the strength of the recovery," said Stephen Stanley, chief economist at Pierpont Securities, noting that deep recessions tend to be followed by steeper recoveries. "If the economy pops, it's going to be faster than anyone is forecasting."
​

Shoppers Opened Their Wallets Last Month

Shoppers opened their wallets even wider than expected in March, snapping up spring fashions and home furnishings and paying full price for much of what they bought, retailers reported Thursday.

Analysts had expected that warm weather and an early Easter would boost results compared with last year, when recession-scarred consumers were willing to buy only basics, and only on sale.

But the results were even better than they had forecast, and hit double-digits at some chains, including midlevel department store Kohl's Corp., where sales at stores open at least a year jumped 22.5%.
​

And for the new-found deficit hawks that had no problem with Bush tax cuts and free wars:

Obama team points to smaller deficit numbers

The federal deficit is running significantly lower than it did last year, with the budget gap for the first half of fiscal 2010 down 8 percent over the same period a year ago, senior Obama administration officials said Monday.



The officials attributed the results to higher tax revenue and to lower spending than projected on bailing out the financial system. If the trend continues for the rest of the year, it would mean the annual deficit would be $1.3 trillion -- about $300 billion less than the administration's projection two months ago for 2010.
​

 

[B_talltpaguy]

^Don't worry, good news will only prove to the wingnuts that Obama had nothing to do with it, or that his forecasts can't be trusted, or blah blah blah.

 

[deleted15807]

^Don't worry, good news will only prove to the wingnuts that Obama had nothing to do with it, or that his forecasts can't be trusted, or blah blah blah.

Yeah I know FoxFauxFixed News told them so.

From Business Week:

Why the Obama Plan Is Working

"When you take it all together, the response was massive, unprecedented, and ultimately successful," says Mark Zandi, chief economist at Moody's Economy.com (MCO). Even Obama critics like Phil Swagel, assistant Treasury secretary for economic policy under George W. Bush, acknowledge that White House policies have been successful. "They could have done a better job" by spending more of the stimulus on corporate tax cuts to boost hiring and investment, says Swagel, now an economics professor at Georgetown University's McDonough School of Business. "But their economic policies, including the stimulus, have helped move the economy in the right direction."
​

 

[Trinity]

Almost a year ago...Obama actually told the truth and it is why his plan is not working. Did he forget?

President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.
“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”
Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”

Bloomberg, May 14, 2009

 

[maxcok]

.^..

I do watch Maddow from time to time. I can't even take Hannity, he's turned into an idiot over the last year.

Wow, did hell freeze over and I missed it?

 

[B_VinylBoy]

So an article from 2009 disproves one made in 2010 even if the newer article provides more detailed analysis and updated information? Just keeping check of the wingnuttery here.

 

[deleted15807]

So an article from 2009 disproves one made in 2010 even if the newer article provides more detailed analysis and updated information? Just keeping check of the wingnuttery here.

Just like it was later found beyond any doubt that Saddam did not have WMD's there are still those that say he did. All the kings horses and all the kings men couldn't find not a single stockpile but for months Cheney and Bush kept towing the line he had them. The public and all the countries that participated in Operation Iraqi Freedom were played the fool.