ThatDamnedPanda
Posts: 6060
Joined: 1/26/2009 Status: offline
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quote:
ORIGINAL: DarkSteven I voted for Obama, and hate Bush's guts, so I think I'd be considered a liberal, although I don't agree with all the Dems' policies. I'm pretty much onboard as far as Iraq and Afghanistan go, as well as Gitmo. Bush left a huge cluster fuck in all three places, not easily resolved, and Obama is pushing to resolve them while balancing the need to get the job done, and the carefulness necessary not to make a serious misstep. Just in that approach alone, I'm delighted with the contrast with Bush. (Note: Bush has permeated our national political scene so much and so long that I unconsciously use him as a benchmark against which to measure Obama - I should be trying to evaluate Obama on his own.) I'm disappointed in his economic policies. The stinulus bill continues the stupid legacy of Bushenomics - give people money from the government, via tax cuts or outrght bonuses, and the economy will miraculously get better. For some obscure reason, no executive government has ever thought to do a simply SWOT analysis - what do we as a country do well, and how do we make sure it does better? What do we as a country do poorly, and how do we make sure it does less poorly? Obama's take on the economy is that it flows from the government, and he needs to make sure that the government properly feeds the economy. Bush's take is that the economy is hurt by the government, and he needed to make sure that the economic damage was minimized. Neither one seemed to realize that the government is nothing more than a necessary evil which needs a strong private sector to survive, and to care and feed the private sector. Steven, that was just an excellent post. You summarize my own feelings very succintly. I still support Obama, and have hopes that he can find his footing and start to move the economy in a positive direction, but thus far is he is getting off to a very slow start. Like you, I'm very disappointed in this monstrosity of a stimulus bill, which I think he handled very badly. I lost a good deal of confidence in him over the way he dealt with that crucial issue. I'm also very disturbed by his FY2010 budget. Thus far, the only economists I've read who seem to think the projections are realistic are the White House staffers who wrote it. This is troubling to me, but even more alarming to me is the complete lack of leadership in addressing the fundamentals of the economic crisis that grows worse every day. The entire economy is hinging on the financial institutions right now, and the banking system is insolvent. The reason the Dow has essentially been in free-fall for the last couple of weeks is that investors have finally figured that out, and they're also becoming inescapably aware with each passing day that the administration is doing nothing to address that fundamental crisis. He's been in office almost a month and a half, and we still kow nothing about how exactly he intends to solve this problem. The same people are in the same positions, making the same decisions that got us into this situation in the first place, and it's leading us in the same direction it's been leading us for the last 5 months - straight down. The longer this goes on, the more investors will conclude it's because he doesn't know how to solve it, and I think the market could become very ugly this week. I wouldn't be surprised to see the Dow hit 6500 before Friday, maybe even by mid-week, in the absence of some sort of substantive encouraging news from the White House. And I won't be the least bit surprised if it passes 6000 before much longer. And if he doesn't get this right, it doesn't matter how many other things he does get right. I still have hopes, but thus far, he hasn't given me any reason for genuine optimism. He needs to step up and show us the beef, and soon, because the hole is getting deeper every day.
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Panda, panda, burning bright In the forest of the night What immortal hand or eye Made you all black and white and roly-poly like that?
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