This has a lot to do with the fact that Obama is not helping with his “we’re all doomed” and “things are going to get WORSE!” speeches rather than uplifting the public with a positive message. The public needs and expects a President who will lie to us to make us feel better. Or do we actually believe the honesty baloney? If so then we are doomed. The situation Roosevelt walked into was much worse than this. But he was uplifting, not depressing.
Found by John Ligums.
For Kindle and with free ePub version. Only $9.49 Great reading.
Here is what Gary Shapiro CEO of the Consumer Electronics Association (CEA) said: Dvorak's writing sings with insight and clarity. Whether or not you agree with John's views, he will get you thinking and is never boring. These essays are worth the read!
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The public needs and expects a President who will lie to us to make us feel better.
How did
“You’re doing a heck of a job, Brownie”
and
“The fundamentals of the economy are sound”
work out anyway?
RBG
Your dollar is UP 20% to the Canadian Dollar. By the same logic, Obama must be responsible for that too, eh?
But hey, our Prime Minister Harper is bullish on the Canadian economy… we’re going to recover first, don’t you know eh?… and still we’re tanking big time AND our dollar is down 20%.
So my advice to both of them is to not say anything… or to put it in Canadian english… STFU eh?
All this indicates is that investors are reacting to the Obama econ plan. Enough said.
Oh, please! The problem is that the current regime isn’t addressing the actual problem (toxic CDOs and their CDSs) any more than the previous one. They still attempt to hide the problem with taxpayer money. Two thirds of the credit in this country comes from non-bank sources via the stock market and that segment is GONE due to their lack of confidence in the market. They were just screwed big time in the market and at least THEY know that what got them screwed STILL hasn’t been fixed and won’t be fixed until the problems I outline in my first sentence are actually addressed rather than just hidden.
#27 ArianeB
Except that all of his lies and gloom and doom speeches are what’s helping to drive the market down.
Since it was clear Obomba would be the candidate and possibly the next president the market has dropped like a rock. Coincidence, I doubt it.
Sixteen Executive Orders since he took over. He rules as a fucking King. Fuck him with his ugly bitch wife.
JimR said “Your dollar is UP 20% to the Canadian Dollar. By the same logic, Obama must be responsible for that too, eh?”
The US government is borrowing billions in foreign currency each week (TARP, stimulus, war, etc) and converting them to US dollars. When that slows down the USD will weaken.
#46, Yep. I expect that next Nov to Jan, you can expect to be paying 50-75% more for the same products and services you pay for now. You don’t triple the amount of money without something to back it. Your reputation only takes you so far.
#47 http://thehill.com/dick-morris/coming-next-year-obamas-inflation-2009-03-03.html
It’s not the federal government’s job to manipulate the stock market. It’s not their job to ensure stock investors get a good rate of return (that’s the investor’s job). The stock market is not the US economy.
It’s also worth pointing out that Roosvelt is on *both* ends of that little graph you’ve posted. He was re-elected a few times, and got a different market result each time. The graph doesn’t mean jack.
The denial is strong with these ones…
GregA, the ‘ignored’ Richard Clarke was downgraded and had to report to Condi Rice instead of the President, and he was upset. This same Richard Clarke cancelled a mission to try and get Osama because he was worried he would ‘boogie to Baghdad’. If there is no link between Iraq and AlQaeda, why would Clarke think this way?
This is rich. John C Dvorak, the original crank, goes from bad-mouthing the PC industry (since the 80s) to bad-mouthing CES (one year complaining about having to go, the next year boasting that he’s not going, he’ll just surf blogs of people who do go) to bad-mouthing the tech media for bad-mouthing the PC industry (which he says is responsible for the economic downturn in tech) …
… to complaining that the President is not enough of a cheerleader!
… and then claiming to believe that the weeks of 600,000+ newly unemployed, and other grim statistics could all be undone if only the President made with a little more happytalk!
Sheesh. Dvorak, I dare you to rename your IPTV show ‘Happy Geeks’ and do one episode with nothing but happy-news formats. It would be hi-larious to see YOU try to ham it up and wear a smile for half an hour!
(and great ratings too.)
(just as an aside.. for those who would not know humour if it bit them in the arse.
-John C. is being facetious in his remarks..)
-anyway on with the nit-picking..
(possible epic boredom ahead, use your own caution)
the “he inherited this/8Yrs of bush yada yada” mantra is old campaign trail dogma. -yeah, we get it. bush was an idiot. now move on to *the present* and stop living in the past.
(hows the saying go: one finger pointing forward has three pointing back.)
-so that means he should allow the morons in congress to outspend bush completely [in a major downturn no less] within a few months of taking office..what, 2 to 1 at least? -by printing up money like a mad banshee?
-when the country is friggen broke and being held hostage by the central banks?
this is “fiscal responsibility”?
-brilliant plan.
what is even more brilliant, (i guess) is that he hired back practically everyone who had a hand in reverting the laws that made the current mess possible. -brilliant? “foxes in charge of the hen house” seems to fit this idea perfectly.
on top of all that, it seems he’s just continuing bush policies only on a grander scale..(save for all the religious crap)
just what we need. -and i’m sure your just peachy over this too. :s
so basically what we get is bush II with blackface. -only difference is he’s silver tongued devil who can speak the pants off a
Nun at 50 paces. -provided he has a teleprompter. -great, another political
puppet.
he blew any credibility he had built up during his campaign by hiring back almost the entire clinton cabinet. (esp those mentioned above) -i had actually hoped/thought he would hire mostly fresh blood. -at least give us something to look forward to.
funny thing is, he IS telling the truth. it’s going to get way worse no matter what he does.
this was stated back in 2007 and 2008.. (2001 for those with huge bookmark files..) so why is he throwing good money after bad and rewarding the banksters who lobbied for
this financial time bomb to boot?
how does anyone still trust these people?
where, praytell, is the watchdog media?
-now to not just merely bitch and whine and offer no solutions..here is a plan that i think
would have bought the President major capital
with all the people as well as the sleazy politicians he got stuck hiring.
if anything he should have let the bad banks go bad, so they learn a lesson *-and clear their balance sheets..very painful, but prolonging the inevitable economic death the derivatives bombs will cause by repeatedly bailing out the crooks that created it is shear stupidity.
once all the derivative bombs are popped,
BAN THEM.
what idiot is going to buy toxic, NINJA backed assets? -get them off the balance sheets via
bankruptcy. its going to happen anyway.
(and yes, i have learned how finely
interwoven into the fabric of almost every aspect of the financial markets these bombs
have been placed. -its shocking anyone
allowed it. -but they have to be dealt with now.)
next up: absorb The Fed *into* the US Treasury, wiping all debt owed to the *former* Fed in the process. (it was just zero’s in a computer owed to generational thieves anyway) -making it an official US government entity held to the Constitution etc. -we start 2009 with a Clean Slate.
(thusly removing private bankers from our monetary system once and for all) and kick all the manipulative JPmorgan/GoldmanSachs thieves to the street. they can go find some *other discount window to manipulate. ( add in barney frank and the current treasury occupants too)
-all the above are globally banned from working in banking, military and government
industries.
if i had my way, they’d all be jailed.
-let the people decide. (once properly informed)
-reinstate all Depression Era laws that were removed during the 70’s through 2007, starting with the uptick rule and work your way back.
-use *our* $800bn to capitalize 7 new national banks, leveraged 12 to 1, $1tn each (the balance goes into reserves(?) to get the credit lines running again. (based on GAAP rules) -everyone goes back to *normal* asset/job backed credit approval (20% down mortgages etc.) -like in the days before computers..
small and medium businesses with good credit history get to cut to the front of the line.
find people from the many smaller, still solvent US banks that did not engage in the derivative bombing and acted responsibly to run the new national banks.
-these banks will operate as public trusts, with open books for the time being.
-if you want to sell the President’s accountable and transparent governing message *and* send a message to the world that we’re gonna *try* and clean up our act,
this would be a pretty good start.
**everyone** who supported the
repeal and rewrite of the depression era
laws and any other related detrimental
laws are banished from society and get life
in prison isolation. two visits a year, maybe.
-their lucky they don’t get executed for treason, imo.
that’s it. no other government interventions.
with money flowing to where it counts again, let the markets work themselves out.
this will cause an initial major economic slowdown, but the economy was extremely oversold/overvalued/over-everything to begin with.
this whole jumpstart the economy by spending the Moon nonsense is a bankrupt idea given the current state of things.
remember, it’s was *bad* credit (and now no credit) that is freezing up things right nowas well as the banks turning off credit lines to **responsible** borrowers, -followed by an almost complete lack of confidence by all those who play by the rules (mostly)
-nothing more.
if someone wants explain how spending tax money (we dont have) on government, during what amounts to a private credit crunch
solves the credit problem, i’m all ears.
almost forgot:
here, watch this Dec 2008 CBS60 Minutes piece which explains the next two waves of mortgage defaults around the corner to which the
President’s *doom and gloom* in part
eludes to:
http://www.youtube.com/watch?v=w_r-ASDViF8
-and they arent even mentioning the
the commercial real-estate market that
is boiling over.
-or the US Treasury bubble <–good googling fun that
U.S. Treasury Bonds the Biggest Bubble of All?
http://www.marketoracle.co.uk/Article7624.html
-s
Or that he INHERITED the worst economy since the 1930’s. Every think about that?
# 55 RickyA said, “Or that he INHERITED the worst economy since the 1930’s.”
If that is the case, why is the nut job Pres. duplicating the same failed econ policies of FDR?
Gee… the Dow was up for the third day in a row. I think that’s around 9-10%.
Maybe you posted this stupid partisan hackery chart a bit to soon.
Gonna update it soon?
Future will know Obama by his nickname:
Wee Will
🙂
He always say “we will” this and that, all his speeches are just full of wishes, no real actions.
If he could get his appointees to pay taxes that chart would go up like a rocket.
#58, geezba, good work.
I dont think Obama can do this by himself. I believe he needs God to help him!! Just think, ever since Obama became presidant almost everything has goten worse! He doesnt have enough experience. I really think he should stop saying and start doing!!
#56: He aint no Messiah! Hes a human being like everyone of us! And he aint no anti-christ either. The anti-christ wouldnt have a wife or kids because the anti-christ is ganna be satin and he wants to be just like God…. But what I dont get is that he knows that if he went against God he wouldnt live, but he will anyway. Satin is in for a butt-whooping!