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529 Comments
- NorthMass, on 06/18/2009, -109/+364"President Obama said he was looking for a "careful balance" when sketching his blueprint to stabilize the nation's financial sector and wring from the system the kind of risky practices that propelled the country into economic turmoil."
How can he honestly say he was looking for a "careful balance"? Obama has gone even crazier than Bush when it comes to deficit spending! He is just throwing trillions of dollars around like its candy, and yet he wants a "careful balance".
And he also now wants to give the Federal Reserve the power to bail out anyone they choose(so much for transparency), which would be an absolute disaster. Of course, this happens to come out at the same time as Ron Paul's bill to Audit the Fed just got a majority of the House of Reps to co sponsor it.
Obama is worse than Bush, because he somehow puts a happy face on all this crap unlike Bush so people actually think Obama is doing good.. it is time for people to realize Obama is a fraud. - GhostInAShell, on 06/18/2009, -25/+235Increase the powers of the Fed?
Is anybody in our gov't capable of learning a lesson? - josh4rim, on 06/18/2009, -18/+181I am still trying to figure out why everyone thinks it is the presidents responsibility to do anything but be commander and chief. It is not his job to save the world, he might think it is, but it is not. The constitution clearly defines his role, however blame does fall on him and the presidents of the past who used their authority to step outside of the pre-defined boundaries.
Here is the solution: Follow the Constitution of the US.
So the next time someone is running for president and making all of these promises about what he is going to do, add and change. Think to yourself, "Should he actually be doing that?"
Government can get smaller but should be questioned when it gets larger.
“Government that is big enough to supply you with everything you need, is big enough to take everything you have.” – Thomas Jefferson - BotchaMcCoola, on 06/18/2009, -30/+167He is right that high inflation will effectively lower the national debt. Aside from damaging the Middle Class potential employers and the future economy, it is stealing and still very much as immoral as most central government controls of the past.
- Ryokuchaa, on 06/18/2009, -22/+111I guess that means that Obama would have to veto any bill to audit the Federal Reserve (HR 1207), as if we found out just how corrupt things are behind those closed doors, there is no way any sane American would allow the Fed to gain even more power. I just find it so frustrating, to even talk about giving more power in any shape to a entity that has already proven that it can not do the current job assigned to it without causing nothing short of a total global economical failure and the answer is to give the Fed more power?
- mGARANDEUR1, on 06/18/2009, -15/+85It's hard convincing a bunch of brainwashed "yes we can" drones that our current president isn't much different than the older one when it comes to financial responsibility.
- jeffiek, on 06/18/2009, -14/+82Absolutely. They're learning a lot.
About how to get more power.
What? You thought the government was here to serve you? Guess again. All the "stupid Bush", "stupid Obama", "stupid (fill in your favorite name)" comments are based on the idea that they are attempting to do what is good for the country, and from that point of view they are clearly stupid. Unfortunately, the goal is to rule. And from that point of view they are quite intelligent, competent, and dangerous.
The mugger can only steal what's in your wallet. The government can "steal" from your paycheck. Week after week after week. And get away with it. - TherealObadiah, on 06/18/2009, -31/+99If there are any "green shoots" in this economy, then Obama can be called the Roundup president because he's killing everything.
We are trillions and trillions in debt now. There is no recovery in jobs. Obama has taken control of the auto industry, much of the banking industry, and wants to control the health care industry. Obama is a disaster visited upon us from which there may be no escape and the fawning state-run media continues to prop him up. - StanleyKoolPrik, on 06/18/2009, -61/+119Feh! What else should we expect from that right wing noise box called NPR?
Obama is infallible. We cheer en mass at his slightest fly-swat, as we should.
I only wish I could sniff his fart. I would inhale with all thy might...and never let go. - BotchaMcCoola, on 06/18/2009, -17/+71Bush may have thought he was the champion of spendthrifts. But Obama will make him look like a miser.
- SuprRoboWolf, on 06/18/2009, -4/+55So let the unsupervised branch of the "gov't" supervise failing businesses. Great plan. Isn't it funny how most great entrepreneurs talk about the value of failing, learning, adjusting and reestablishing better more efficient strategies and here we are preventing failure on the grounds of better business.
- rizzo2008, on 06/18/2009, -11/+61that's crap and you know it...it gives the Fed essentially unlimited power to meddle in "failing" companies and bring them under their wing. It has nothing to do with regulation, its a power trip more than anything
- AmnesiacJack, on 06/18/2009, -16/+64So because Bush did what ever he wanted it's ok to turn a blind eye and let Obama get away with doing what ever he wants as well? At some point Americans are going to have to get over this neener-neener phase and actually start holding politicians responsible for their actions.
- rizzo2008, on 06/18/2009, -6/+51where is that money coming from? Debt it is non-existent money and is created out of thin air which damages the value of savings of Americans by making our money worth less so will it really help the average middle class American in the long run?
Who buys our bonds to finance our debt? Oh yeah China, Japan, every other foreign nation we still have reasonable relationships with etc. - Hardataq, on 06/18/2009, -5/+48Don't kid yourself. We all lost the last election.
- TheInformer, on 06/18/2009, -8/+49Deficits at the end of Bush's second term (when he had a Democrat controlled Congress) had "BILLION" at the end of them.
Deficits during Obama's first term (when he has a Democrat controlled Congress) have the word "TRILLION" at the end of them.
There's a difference. - dalittle, on 06/18/2009, -13/+51So a bunch of people who run financial companies don't like to be regulated. How is that news? And the fact that they just got done screwing the US makes Americans give a crap about how they feel about it? Don't ask for handouts if you don't want the consequences.
- doc101, on 06/18/2009, -6/+43You know I find it ironic that people are still justifying Obama's policies by merely comparing it with Bush's ***** stuff. Comparing ***** to ***** doesn't make it good
- pinchduck, on 06/18/2009, -3/+39I agree with the OP, in that Bush was a horrible president who was deeply criticized at every turn (deservedly so). Obama has done nothing to curb the deficit, and has in fact made it worse. What do we get? "Economists wring hands, meanwhile Obama writes cute notes to 5th graders". The press is giving Obama a complete pass on what are sure to be disastrous economic policies. We need to balance the budget and get out of debt, not try to make Bush look like a good president by dwarfing his fiscal stupidity with a far larger one.
- GreatSunJester, on 06/18/2009, -5/+41I am not sure I have ever heard NPR called right wing before......
- thrashertm, on 06/18/2009, -1/+36This allows the Fed to seize any company it wants because it claims there is "systemic risk".
- deema1, on 06/18/2009, -15/+47Obama and his economic team are financially incompetent. It took trillions of dollars in borrowed and printed money to accomplish nothing. Even with this historically unprecedented spending his projections have been shown to be grossly underestimated and completely wrong. The stimulus was to cap unemployment at 8%, but we're now at 9.4% and Obama now has adjusted unemployment up to 10%. It's going even higher than that, mark my words. So now we're in further debt, unable to repay it, and have prolonged the Depression. If they did nothing it would have been over in a year or two. Now we're burdened for years and years to come.
And to give more regulatory authority to the Fed? Are you kidding me? The organization that almost single-handedly caused this meltdown and was unable to both predict or combat this crash? If they can't accomplish any of the things they were created to do then what value are they? With all their missteps they should have less power and authority, not more. Only in government can you reward failure and punish success. It's almost as if they want to run the world. This administration is showing that they have no idea what they are doing. - rthakidn, on 06/18/2009, -1/+33Yeah, I'm glad Obama got us out of Iraq and Afgahnistan. OH wait.
- offrdbandit, on 06/18/2009, -5/+35You aren't left of center; you are left of sane.
- curunir, on 06/18/2009, -9/+38Did you miss the $108 billion cash and $13 billions in gold being given away to the IMF this week? At least some of the money Bush was spending went to US soldiers...
- TSK05, on 06/18/2009, -2/+31/s
(I assume.) - 1gunners4, on 06/18/2009, -3/+32Link one viable Economists who said that the practices of inflating the Housing Industry was a good idea. Link another saying that junk bonds are something other than junk bonds. Then I'll link you exponentially more economists who looked at the entire situation and said "This ***** is going to implode."
Get your head out of your ass and educate yourself: Wallstreet Brokers are not economists. Those asshats you see speculating on the market (Cramer) are not economists. Many academic economists knew something was bound to happen, they merely didn't know the breadth of it. - entelekhia, on 06/18/2009, -3/+32Amen
- williepepper, on 06/18/2009, -30/+59Why of course.
They don't know whaot to do.
Gas prices are going up.
Unemployment is going up.
Foreclosures are going up.
Bankruptcies are going up.
Obummer's approval has plummeted.
The great equalization has commenced, and it's trickel up poverty.
The best thing we can do is vote out the bums who keep spending our future. They're more interested in themselves than us.
Didn't work for Russia, didn't work for France, didn't work for Cuba, and it's not gonna work for us. Out on yer ass ya go. - asgardshill, on 06/18/2009, -8/+35FTA:
"One that's already considered in deep trouble is Obama's recommendation that the Federal Reserve be given new powers and expanded authority to supervise firms at risk.
"That's going to be a struggle between the president and Congress," Baily says. "Congress wants to see the Fed's power reined in." "
I have to agree with this one. And based on the evidence to date, I want to see at least some members of the Federal Reserve doing perp walks, not buffing their shiny new regulatory powers. - hiphoc, on 06/18/2009, -4/+30Sorry I am addicted to Hopium.
- sanibelsnook, on 06/18/2009, -15/+41keep gov out of business - that is what screwed us all this time - the gov did not do its job and over see the crappy loans they forced/allowed the banks to make in the first place ..
they got us here and they now think/say more of the same will save us .. how stupid do they think anyone with a job is?
I guess pretty dam stupid as they are getting away with it... - Eorster, on 06/18/2009, -24/+49They should have left the whole country to fail. The only thing they saved were the bank accounts of the wealthy. If they just let the damn banks fail, and the wealthy along with it, no reason to feel bad for them they would have received their 100k. We would know for sure what worked and did not work. Now all we are doing is placing band aids on things we may or may not need to band aid in the first place. Intervention is never a good thing. I agree with the economists let the ***** hit the fan then we can rebuild on our solid USA capitalism free market principles.
- sanibelsnook, on 06/18/2009, -19/+44his plan "falls flat" with anyone who doesn't need the ever increasing bloated, bankrupt government to think/act for them.
Bush's money is starting to be paid back in full ... when king obama will take it. The money obama wants to spend/control will never be paid back and do nothing but dig a deeper hole with fewer and fewer resources able to fill that hole...
screw big(ger) government - fill the pot holes and protect us from our ever growing enemies .. as for the rest ... stay hell out. - acknotSW, on 06/18/2009, -1/+24Sorry, "but, but, bush" isn't going to play anymore.
- NorthMass, on 06/18/2009, -0/+23thespiff - Your point isn't even right because Obama is expanding the wars overseas. He is not withdrawing from Iraq any quicker than Bush was going to, and he is expanding the Afghanistan War and has started bombing Pakistan.
Face it dude, Obama is just full of crap. I at one time liked him also, because he said some good things. But the man will literally pretend to be Dennis Kucinich to get elected, then govern like George Bush on steroids. - Unreal030, on 06/18/2009, -1/+23Leftofthecenter, I try not t o be so harsh or direct, but I am a professional economist (i.e. I get paid for data collection/conclusions on the economy), and you are...well...an idiot. There is a reason that everyone is digging you down, it's not because you kinda come off as a jerk, but because your opinion (as that is what it is) is incorrect.
You shouldn't criticize people's economic opinions when you own mind has trouble dealing with its basic concepts.
Also, I work part-time at the Federal Reserve in Minneapolis and I will tell you that this does in fact give improper power to the fed over potentially failing businesses, your assertion is incorrect. I can only assume this is because, as I previously stated, you don't understand economics and the politics intertwined with it nearly as much as you think you do. You should read some books, preferably ones you don't originally agree with. It gives you some proper perspective on things, see both sides. I suggest you start here mises.org they have tons of free ones, or better yet, start with Adam Smith and then read Friedman and Keynes (I would bet half of my year's salary you have never read a Keynes book) - aheinzm, on 06/18/2009, -8/+30Yep, but there doesn't seem to be an end in sight despite Obama being president.
- lilhelper, on 06/18/2009, -37/+59We are "presidentially" *****.
No, its not a real word. - RonPauls, on 06/18/2009, -14/+36which one of these right wings authorized the 2 trillion dollar budget deficit?
I can't ever recall any small government person recommending that. - Doc123, on 06/18/2009, -18/+40Politicians are the ones who ***** up the economy.
- thegrantman, on 06/18/2009, -5/+27Not all of them asked for handouts. Some were forced to accept them in order to conceal the identities of the banks in financial trouble.
- Chrysalii, on 06/18/2009, -3/+24yeah, when people hold their leaders accountable for their actions, instead of blindly praising them.
- govtdoesnotwork, on 06/18/2009, -0/+21No. Not even the wake of Madoff's ponzi, which the SEC was warned about 5 times, in writing (with mathematical proof increasing every time) over decades. They ignored ALL of Markopoulos' red flags, and weren't even investigating Madoff when the ponzi finally collapsed thanks to the fiscal ***** NOT regulators. The SEC will now get MORE funding from Congress.
- govsucks, on 06/18/2009, -27/+48Hey collectivists, Obamas wants to give a private entity that has no accountability and has never been audited MORE control of our economy. Now that is transparency isn't it?
BIGGEST.PWNS.EVER
I mean come on people, he has them fainting and following him while he does ***** no different that GW. This crap would make any religious or social group weep with envy. No force needed, just say the right words and they follow willingly. He could ***** on their cheerios and they would give him a standing ovation. - vbullinger, on 06/18/2009, -1/+21We're using bailout money to move GM to China, Brazil and other countries. How is that beneficial to Americans?
- AmnesiacJack, on 06/18/2009, -7/+27Keep polishing those turds you might turn one into a diamond eventually.
- AmnesiacJack, on 06/18/2009, -1/+20Why do I have to be a 3rd party type? Can't I be a dem / repub and still be vigilant enough to care about my country?
- rthakidn, on 06/18/2009, -3/+22@lefty. I'll agree that I want to see business fail so I can say Obama failed, when you agree YOU wanted to lose the war in Iraq, so you can say Bush failed. I didn't think so. Man, when are you going to quit playing the victim? This is the job Obama WANTED!!! If he screws it up, it's not because anyone is against him, it just because he's got no clue how to run ANYTHING, because he never has.
- thebudda, on 06/18/2009, -15/+33Sick of people now crying to vote out these a**holes. These people made their intentions clear, have been for years. It's called doing your homework instead of jumping on some bandwagon blindly. If someone waddles like a duck for 20-30 years, quacks like a duck, looks like a duck, then why the FU*K would you think that when they got into a higher office they would act any different?
You voted for these ***** (or worse didn't vote), you cheered for them, rallied for them, etc., you get what you deserve. I just hate that it takes screwing the whole country for years to come to learn a hard lesson. We are still suffering from policies that Jimmy Carter enacted in the 70's and he's didn't do in his whole term a fraction of what these knotheads have done in 6 months. -
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