This is how Obama want's you to gauge the success of the trillions of debt he's piling on the next generation.
1,2 & 3 I'd like each of you to answer how you think this is going.
For me?
#1 job creation has been a disaster, Biden has already said that we're way deeper into unemployment rates than they even feared. So this gauge shows Obama didn't work.
#2 Based on the below synopsis, and the many articles that aboundon the subject no, credit markets are hurting because people aren't spending. Unlike the GOVT they're saving and spending smartly, not on credit, and not foolishly.
Second quarter GDP will decline at a much slower rate than the previous two quarters
#3 there are blips of positivity here - nothing to get excited about for sure, and with the other negative factors I'm not hopeful the small if any recovery in the housing market will sustain.
February 9, 2009, 11:42 PM ET
Obama Press Conference: How Will We Gauge Success?
"I think my initial measure of success is creating or saving 4 million jobs," Obama said. "That"s bottom line number one, because, if people are working, then they"ve got enough confidence to make purchases, to make investments. Businesses start seeing that consumers are out there with a little more confidence, and they start making investments, which means they start hiring workers. So step number one: job creation."
"Step number two: Are we seeing the credit markets operate effectively?"
"Step number three is going to be housing," Obama said. "Have we stabilized the housing market? Now, you know, the federal government doesn"t have complete control over that, but if our plan is effective, working with the Federal Reserve Bank, working with the FDIC, I think what we can do is stem the rate of foreclosure and we can start stabilizing housing values over time."
RE: I want each of you to answer these 3 questions
Not his job
Not his job
Not his job
However, he's doing a great job killing all three.
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RE: I want each of you to answer these 3 questions
Quote:
ORIGINAL: Fieldmouse
Not his job
right on
Quote:
Not his job
right on
Quote:
Not his job
However, he's doing a great job killing all three.
right on
Time will tell what effect Obama and the Democrats have on the economy. Frankly, government has much less capacity for encouraging and boosting the economy than people imagine. Their capacity for screwing up the economy, however, is palapable and extensive.
How can the government help the economy? (1) Maintain a stable currency. This is the federal reserve's job, and they have seemed to have done a good job at this since perhaps the early years of Ronald Reagan. It is not helped by step function increases in deficit spending. (2) Regulate markets steadily but with forbearance. (3) Deploy a tax policy which does not punish business success and encourages positive economic behavior. (4) Avoid mercurial and ill-advised incursions into mandates on commercial products -- use a sure hand and go carefully. For example, mandating a sudden step function increase in fleet car efficiencies might not be sure handed or "going carefully."
RE: I want each of you to answer these 3 questions
Bravo to FM .... but regardless of what's SUPPOSED to be, the government (Obammy) has assumed responsibility for
the subject matter being discussed....so.....
1: there are no jobs. Period. There have been no jobs created. Period. There WILL BE no jobs created. period. The suggestion that
there will be jobs is just a bald-faced lie told to those still rolling in Kool-Aid.
2: the credit markets are pretty much flatlined...credit card revenues are down because people are not using them, except very
sparingly, but the mortgage market is still very depressed
3: Just came back from Naples Florida. THere are short-sales galore, followed by foreclosure sales. Homes bought for 350k are
being short-sold for 110k. The housing market is in the crapper.
The current administration, AND THOSE WHO VOTED FOR THEM are a national embarrassment.
RE: I want each of you to answer these 3 questions
Quote:
ORIGINAL: bergall
2: the credit markets are pretty much flatlined...credit card revenues are down because people are not using them, except very
sparingly, but the mortgage market is still very depressed
3: Just came back from Naples Florida. THere are short-sales galore, followed by foreclosure sales. Homes bought for 350k are
being short-sold for 110k. The housing market is in the crapper.
The underlying cause for our current WORLD WIDE economic problems -- is it too early to refer to this as a "malaise?" -- is toxic mortgages. These have not been worked through the system. The piper has not yet been paid. Until the piper is paid, more lingering economic funk. I'm happy to hear the houses bought for $350 K being sold for $110 K. The market is doing it's job -- arbitrating values and adjusting for changed perceptions. This is the path to health. The longer we defer walking down this path, the longer it takes to get healthy again, the longer we have exposure to more lame-brained "curative treatments" by unlicensed, inexperienced, economic witch doctors such as additional stimulus (I heard that said today, a call for another stimulus! can you friggin' believe it?!!!)
RE: I want each of you to answer these 3 questions
As far as borrowing money the rules seem to be as they were 20 years ago, the banks want30 % down, three years of tax records and a personal grantee of payment.
So basically you have to prove beyond a reasonable doubt that you really have no real need for the loan to get it.
The man I talked to said that they had no intention of loaning any more money than they had to right now, his point being that it was not responsible forhisbankto make 30 year loans @ 7 % while the gooberman was printing money at an astonishing rate that will most certainly drive interest rates to untold levels.
RE: I want each of you to answer these 3 questions
A little slow here..I don't see the 3 questions[&:]but will comment to the best of my understanding and to what I'm seeing here locally..
1. First of all.Obama never should have gotten in..the man is no leader PERIOD..My son in the army says that none of them trust him..
2. The poor are paranoid and don't have the money to spend..the rest of us saw this crap coming on long ago and have been saving our money..and enjoying the simple things in life like hunting and fishing..
3, Will it get better..nope. this is a small step in getting us ready for a world wide currency or Mark of the Beast..so enjoy your freedom while ya got it..The government is slowly takng away our rights..we are pawns in their game..
I want each of you to answer these 3 questions
