Do you think Obama will get the US out of the economy crisis?

[sourorbitter]

I want your opinion on this matter. I do not care what race, religion, party, etc. I just want to know because opinions are important.

[Ttulipss]

Nope....this is America's downfall. It's got to be this way - you don't see the USA in the book of Revelations do you? America either does not exist or has no power to be of any importance in the end times.

[mrbowler]

All depends on your timeframe, and everyone has different opinion whether or not he will get credit or no credit for the improvement. Also not sure what everyone's definition of short term-long term. The U.S.A. from a overall macro view IMO has been in decline for the last 25 plus years-sure we have periods in which the reported numbers have shown general economic prosperity, but if you dig deeper you realize that many jobs created/lost have resulted from the buildout of service related/government related jobs. The jobs created coming out of these recessions lately have been very poor, and eventually the general business cycle will emerge-this time will be much longer because you have long term structual problems that haven't been addressed well, and the economy is at the point in which the only way to create jobs is for the government to create funny money & increase the debt-this has worked in the past at least from a short term perspective, but eventually the day of reckoning is coming say 40 years if we continue down the same path. I posted a couple years back about the coming recession/housing bubble if you want to read just search my username. This year will basically be a horrible year as far as jobs are concerned-with housing problems, foreclosures, credit problems-people are hunkered down, and it will take some time before all the stimulus actually starts to turn the ship around-if it turns then you will get some higher taxes(maybe more at the upper income folks-will have to watch see how that develops). This president is saddled with a huge amount of baggage from the previous president who was sorely lacking in management skills-you have seen this countless times that the job was to much for Bush (IMO).

[jeskibuff]

Let's see here. We elected someone to the highest office in the land and that someone has had absolutely no accomplishments in his history of politics. Aside, of course from getting himself elected in what has long been reputed to be the Most Politically Corrupt City In The Nation: Chicago! And now we suddenly expect him to accomplish something?? What's the next rung up the ladder after being elected to the highest office in the most powerful nation in the world? This one-trick pony has risen to the top, and there's no other higher office to get elected to! What's Obummer to do???? He no longer even gets to vote "present"!

Even before he took office, he had a disastrous effect on the economy. Immediately following his election, the stock market took the biggest 2-day slide in history. That should have been an obvious omen, but the media tried everything to excuse it away. The week prior to the inaugural was a steady decline of about 800 points. That was people selling off their stock while the getting was good. They knew what was coming on January 20th, but STILL the market experienced THE WORST INAUGURAL DAY performance EVER! Were these just coincidences as the media would have us believe? If so, why were they so EASY to predict??

Here are just a couple of my predictions:
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November 4th, 11:21pm - Post #19:

Any predictions for the stock market?

I see no reason it won't take a nosedive starting tomorrow. Obama's no friend to business, so why not sell your stake before it becomes totally worthless?

January 4th, 7:52pm:
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As expected, the Dow has gone through normal fluctuations through November and December. When it plunges, they scramble to blame some factor, perhaps the Detroit bailout struggles. When the market takes a jump, the reason is "obvious": Obama did something that caused the improvement, such as selecting his economic team. All other factors don't really matter, do they?

So, the first 2 days of 2009 has seen a rally. All you hear from the liberal media is that "it's a new year and people are getting excited about the new President". There's that "hope" thing again.

Now I hear them talking about a rally when Obama takes office. Is this wishful thinking or WHAT??? I see no reason for the market to go up, but tons of reason to say it'll take another plunge. Higher taxes, costlier energy and a resurrected Jimmy Carter will not do our economy a favor. It'll be curious to see what happens in another 16 days, and somewhat funny to watch the looks on their faces as they scramble to explain away the obvious again.

If you were on this site years ago when one JWelch111 posted her liberal drivel, you would remember how she talked about how George Bush trashed Clinton's "wonderful" economy. Clinton's economy was already in a free-fall from the dot com collapse when GWB took office, but JWelch111 insisted that GWB "talked down" the economy. This was actually Clinton's own explanation for what was happening. So, in all the "brilliance" that Democrats are known for, wouldn't you think that Obummer (now being the supreme Democrat and all) would know better than to "talk down" the economy? But he HAS to lower expectations, because he knows very well that he hasn't a clue on how to fix things. The other day he already alluded to the possibility that he'll be a one-term President if he can't get the job done (and he won't be able to).

Our whole current financial mess was brought upon us by Democrats. Barney Frank, Chris Dodd, Maxine Waters and many other Democratic dimwits were pushing Fannie Mae and Freddie Mac head first into bad business practices. At the very top of the housing "food chain", FNMA and FDMC would push their same flawed philosophy onto banks who would actually write the loans. Their bad business practices fell apart, yielding the situation we're in right now. Just look at this video to see how Republicans were trying to prevent this disaster way back in 2004, but the Democrats ended up getting their way:
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Those who desire to blame Bush for the crisis because it occurred "on his watch" merely want to ignore the obvious. First, Bush was not a dictator: Democrats still had power to affect policy and oversee GSEs like FNMA and FDMC. If you remember, 2006 was a big year for Democrats in the election and things have gone downhill FAST since then. But look back to 2002...after the double whammy of Enron and 9/11, the economy improved steadily with Bush saying "stay the course" regarding tax cuts while Democrats cried that he was guiding the country to financial ruin. Well, those tax cuts WORKED. Instead of getting worse, our economy got BETTER. Democrats cried the same way over the Iraq surge. Obummer still won't admit that the surge worked! The point being...Democrats are usually WAY wrong with their predictions.

Obummer initiates the shutdown of the Guantanamo facility. Good for him, keeping a campaign promise, even though it was a stupid one. I watched Brian Williams discussing the action with David Gregory. "What will happen to the terrorists housed there?" they wondered. They gave examples of terrorists who had already left Gitmo and went back to killing Americans as they are wont to do. Why can't liberals THINK before they ACT???

Now with Obummer in the White House, it's like we're back in the Clinton era. There's a scandal every day. So far, he's appointed several tax cheats and con artists to high positions. Richardson, Daschle and a few others reeked so bad they had to go, but Geithner is still there, isn't he? To Obummer's defense, it must be tough finding Democrats whose corruption is easy to sweep under the carpet. Again, the "brilliant" Brian Williams praised Obummer for admitting that he "screwed up", but if Obummer was REALLY sorry for nominating sleazebags, why didn't he get rid of people like Geithner who already got confirmed?

The "stimulus" bill that the Democrats are trying to shove down our throats is laden with all sorts of pork. Obviously, they only intend to stimulate the economy in areas that they and their friends (ACORN, etc) would benefit in. For instance, why waste millions on a polar ice breaker when AlGoracle has all the Democrats believing that there will be no polar ice in the not-too-distant future?? All of us taxpayers will be stuck with the bill from typical tax-and-spend Democratic behavior. To pay for it, Obummer and Pelosi will be anxious to raise taxes. That will make it difficult for businesses to compete, so they'll pack up and move elsewhere, taking American jobs with them. If the bill passes with all this pork, I confidently will predict another huge stock market decline.

So, add it all up. You have a President who has no record of accomplishing anything. His "positive" role models in his life have all been communists, socialists, America-haters or terrorists. People who invest in the stock market don't see any positive future for their investments, so they're yanking their money out to safer havens. The stimulus bill has hardly anything in it that is of substance. The prospect of higher taxes and high unemployment is guaranteed when we have tax-and-spend liberals running the country. Companies like DHL and Circuit City consider it easier to pull the plug than try to compete in a socialist environment in which competition is not profitable. People like Geithner, Dodd and Frank are at the top of Obummer's adviser list and they all played an integral part of precipitating the financial mess that we're in now. Obummer neither has the experience nor the stomach to do the right thing. The other day the pressure was too much for him to bear, so he and Michelle had to escape to a school and entertain children!

There is nothing left but "hope" with Obummer. Perhaps you still "hope" he does the right thing, but so far he's adding up to be the colossal failure that many of us predicted he would be. You can keep hoping and things WILL change, but I don't think you're going to like the outcome, unless you like unemployment. If you voted for Obummer/Biden...congratulations: YOU WON! But in the long run WE ALL LOST, including YOU!

[jeskibuff]

How about that? The Senate gets its version of a porky "stimulus" plan passed with the help of 3 exceptionally dumb Republicans (Specter, Snowe & Collins) and Obummer's top economic adviser details his master plan. All is supposed to be rosy, right? The country is supposed to be awed by the Magic Negro's economic brilliance, right?

The stock market takes a 382-point nosedive! Who saw THAT coming?

Oh yeah...I did, back in post #4:

Originally Posted by jeskibuff

If the bill passes with all this pork, I confidently will predict another huge stock market decline.

One good thing about the Obummer election victory is that I get to feel like a genius Nostradamus! But really, it's not a supernatural talent: it's just easy to predict the failures of stupid people like liberal Democrats. We conservatives warned everyone that this was going to happen, but enough FunDUHmentally stupid people voted for the empty suit that he won. Now we get to see all our predictions come through and our nation go down the tubes at an accelerated pace. I mean, the dolt has only been in the White House for 3 weeks and look at where we're going! Tax cheats and con artists appointed to high positions, OH MY! Yeah, we certainly got "change", didn't we? Just not the good kind.

People who play the stock market are gambling on the economic future of our country and they just wet their pants out of fear - AGAIN! Nothing instills economic fear more than a socialist who is orchestrating his disastrous recovery vision - a vision that's been tried many times before and failed. Instead of removing the pork, Obummer chooses to charge full steam ahead with his idiotic plan, trying to deflect the blame onto Republicans. If you managed to make it through his first press conference Monday night, you would have seen him lie through his teeth. He knows VERY well what caused this disaster! After all, he was the 3rd highest paid recipient from Fannie Mae kickbacks. No, Obummer...it wasn't GWB's tax cuts that failed the economy...it was a housing crisis brought on by the influence of you and your corrupt Democratic buddies...Barney Frank, Chris Dodd, Tim Geithner, Maxine Waters, Gregory Meeks, Lacy Clay, Artur Davis, Franklin Raines...the list is looooooonnnnnnnnng!

So, just 3 weeks into the administration and we see the dire straits ahead. Unemployment is going to go through the roof. Be thankful if you have a job, because that may not be so in the months ahead. Who can you blame? Blame yourself if you voted for The Messiah. You got suckered by the media and we're all going to suffer tremendously because of your stupidity.

[whiteguyalex]

i guess it all depends on the people too if they will support their president..
and i guess there is no harm in trying since its just months that his in that position...

[mrbowler]

Originally Posted by jeskibuff

Our whole current financial mess was brought upon us by Democrats. Barney Frank, Chris Dodd, Maxine Waters and many other Democratic dimwits were pushing Fannie Mae and Freddie Mac head first into bad business practices. At the very top of the housing "food chain", FNMA and FDMC would push their same flawed philosophy onto banks who would actually write the loans. Their bad business practices fell apart, yielding the situation we're in right now. Just look at this video to see how Republicans were trying to prevent this disaster way back in 2004, but the Democrats ended up getting their way:
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Those who desire to blame Bush for the crisis because it occurred "on his watch" merely want to ignore the obvious. First, Bush was not a dictator: Democrats still had power to affect policy and oversee GSEs like FNMA and FDMC. If you remember, 2006 was a big year for Democrats in the election and things have gone downhill FAST since then. But look back to 2002...after the double whammy of Enron and 9/11, the economy improved steadily with Bush saying "stay the course" regarding tax cuts while Democrats cried that he was guiding the country to financial ruin. Well, those tax cuts WORKED. Instead of getting worse, our economy got BETTER.

I agree with some of the links you provided, but to say the democrats are totally to blame is folly IMO. I seem to remember Bush pushing his "Ownership Society" and how he wanted to encourage people getting into houses-his administration was aware of what was happening, and if they weren't then they are even greater fools. I think they found out that the proper regulation was not in place which allowed the bubble once it got started to end in full glory-with liar loans, flippers, etc. etc. It was encouraged by the Federal Reserve. You can't blame bush for pushing the housing market-it allowed people to use houses as ATM's that allowed them to consume(buy, buy, buy)-the problem was that household income was not rising as quickly as home prices, and the rest is history.

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"The Bush administration took a lot of pride that home ownership had reached historic highs," Snow said during an interview. "But what we forgot in the process was that it has to be done in the context of people being able to afford their house. We now realize there was a high cost."

[mrbowler]

Originally Posted by jeskibuff

Those who desire to blame Bush for the crisis because it occurred "on his watch" merely want to ignore the obvious. First, Bush was not a dictator: Democrats still had power to affect policy and oversee GSEs like FNMA and FDMC. If you remember, 2006 was a big year for Democrats in the election and things have gone downhill FAST since then. But look back to 2002...after the double whammy of Enron and 9/11, the economy improved steadily with Bush saying "stay the course" regarding tax cuts while Democrats cried that he was guiding the country to financial ruin. Well, those tax cuts WORKED. Instead of getting worse, our economy got BETTER

You give to much credit for tax cuts working(IMO), but if you believe that tax cuts are the main reason for improvement then you might like the stimulas plan which about 33% goes for tax cuts. The main reason for much of the improvement was the housing push which created 40%+ of the new jobs created(housing bubble), but it was exciting to watch.

[jeskibuff]

Well, tomorrow is Obummer's big day, isn't it? He gets to sign his long-awaited porkulus package. You know, the one that's SUPPOSED to get our economy back on track! Oh, all the optimism and the glee of what The Chosen One has wrought should send the stock market skyrocketing, right? At minimum, it should bring a glimmer of hope, shouldn't it?

Nevermind that in just 4 weeks Obummer has begun to dismantle just about everything he can get his destructive hands on. We don't need no stinkin' welfare reform! Bye bye Gitmo! Have a nice day, Mr. Terrorist!

I could go on and on about the missteps of this idiot. But let's think about what will happen tomorrow. The biggest non-stimulus package EVER will pass its final hurdle with the stroke of Obummer's Magic Pen. Not only will it NOT stimulate the economy, it will be a NEGATIVE stimulus. That's just what Democrats do best - pushing idiotic ideas that are proven failures, destroying everything that's good in the process.

So, will the Dow take a big plunge tomorrow? We already saw the plunge when the Senate passed their version, so there really should be no surprise as to what's going to happen when Obummer signs it, should there be? Still, after a week's worth of market decline prior to the inauguration, knowing WHO was going to be inaugurated, I was a bit surprised that inaugural day STILL saw such a steep plunge. Think about it: there was NO mystery over WHO was going to be sworn in, was there? It wasn't near the shock of having a socialist win on November 4th, when the McCain/Palin team was the much smarter choice.

Maybe there are people who think Obummer is playing a grand game of chicken - getting a pork-laden bill through Congress then telling them they need to take the pork out. Naw. That's not going to happen. Democrats love pork too much. It'll pass and our tax dollars will be tossed around like Monopoly money. They're already complaining that it doesn't have enough spending in it, that they need to have MORE pork in it to make it work. This is just hedging for the inevitable failure. When it doesn't do a thing, they'll blame the Republicans for preventing it from being bigger. Democrats can find an excuse for every one of their failures. They fail so much, it's as easy as pulling numbers out of a hat.

Ooh! I must've missed a notification that there were responses in this thread. I certainly don't expect to hear from the resident liberal "expert" FunDUHmental to defend his stooge president. I've got a ski trip coming up on Friday, so I don't anticipate having much time to respond over the next 2 weeks, but I'll try.

[jeskibuff]

Well doggone it! Who woulda thunk that Obummer signs his version of financial rescue and the stock market drops 298 points?? So far, EVERYTHING Obummer has done has had a negative effect on our economy. He wins the election - stocks plummet. He gets inaugurated - stocks plummet. He successfully gets his rescue plan in place - stocks plummet. Yeah, we got CHANGE, didn't we? Say goodbye to prosperity for a LONG TIME!

The Democrats got us into this tailspin and Obummer keeps shooting holes into our wings. Now you have to wonder - is he doing it out of stupidity or is it just a master socialist plan to bring our nation to its knees?

It would have been better to pick out a pair of monkeys at the zoo and swear them into office. Really. Did you REALLY think The Messiah was going to fix things? It should be obvious by now that he's out to destroy our country. Just 4 weeks in and it's looking like he's taking a wrecking ball to us.

I just really can't believe people were so stupid to vote for him. But there it is...52 million ABSOLUTELY STUPID people did!

At least we're hearing a little more truth out of the media than we were before, like this little tidbit from [Only registered and activated users can see links. Either login above or Register Now]

The government has their hand on the tiller. They're steering. And that's the problem — the markets are not confident the proper course has been set yet,"

They really should have said "the markets are quite confident that the worst possible course has now been set", but it's a start.

[jeskibuff]

Now at least some Obummer supporters are beginning to realize what their idiotic visions of "hope" brought them. Here's Jim Cramer from today's Today show:
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Some of the transcript:
CRAMER: ...We still have an invisible treasury secretary. We haven't seen him since I spoke with you last.

LAUER: He's going to testify on the Hill this morning about the budget.

CRAMER: That will be pleasant to see him. I hope he doesn't throw the drowning man the anvil like he did the last time he spoke.
.
.
LAUER: ...We had a stimulus package, we had a housing bailout, we've got efforts to save the banks. People would say that's fast action. Why hasn't it worked?

CRAMER: We have an agenda in this country now that I would regard as being a radical agenda. I think that we had a budget that came out that basically put a level of fear in this country that I have not seen ever in my life, and I think that that changed everything.

LAUER: So, the policies are not shareholder-friendly?

CRAMER: Shareholder-friendly? This is the most, greatest wealth destruction I've seen by a president.

I think it was this episode of NewsBusted that said it best. Unfortunately, I'm having trouble getting it to load so that I can verify it:
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One of the jokes in it:
"We expected Obama was going to redistribute wealth. We just didn't anticipate that he'd eliminate it altogether".

I've got a feeling there's going to be a LOT of buyer's remorse soon.

[rafaelapolinari]

The whole world is suffering from this major economic financial crisis and I don't think that because you are a president you will all resolve it. Sure you have the power and the money but how about those all other past presidents? don't they have all the power and money too? Why they also had not resolve it in their term.

About Obama I think he can do some major change to it. He's the first black president that we have so this is all a challenge to him to give his best shot. And it also depends how good his advisers are.

[lisaclarck]

The only ones that will get the US/world of this are those who got the US/world into this in the first place.Hint - those controlling the FED.

[larcha]

hopefully...