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>and the country is more optomistic with Obama than 'more wars' McCain.<
So they thought the economy was going to be worse off immediately after the decision? Of course not.
Seriously. Credit or blame happens AFTER the guy takes office. People dont seem to mention it much but:
Perhaps his Obama's greatest contribution will be far larger and far better and far longer reaching than anyone can imagine and in an area not often mentioned. Obama provides a role model. (VS rappers and athletes who do and glorify drugs, thuggism, steal, beat women and call them ho's) Perhaps black youth can look up to a black man who married his childrens mother, who completed his education, speaks non ebonic English, and became the POTUS!
Credit to someone else cause its not my line. Something along the lines of. "THE MAN" couldnt keep Obama down and now he is "THE MAN".
Not to dampen the mood, but a lot of people think the 'MAN' is being setup
I suppose it's just me, looking at things from an uninformed perspective. But I can't get the crazy notion out of my mind that perhaps the Fed should be doing something, as opposed to making predictions. Unless, of course, they have some sort of interest in guaranteeing that their predictions come true (which seems insane, but then who knows what's actually running through their minds?)
The Fed is one of the major causes of this. They created the housing bubble.
After the NASDAQ crash and dotcom bust in 2000, we were supposed to have a recession. The recession started (recall that the dotcom/NASDAQ crash preceded Bush) and Bush inherited the downturn (like Obama has this time).
Thing were looking poor, and then 9/11 happened, which really put the USA into the crapper.
The entire US government conspired (patriotically at that point) do DO ANYTHING to lift the economy and demonstrate to Al Qaeda and the World that the USA couldn't be brought down (on any level).
So, the Fed dramatically lowered interest rates during 2002-2004, and PUMPED tons of money in the money supply, which lifted the USA out of the recession it probably should have had post dotcom crash and post 9/11.
Coupled with this increase in the money supply were the pro-liberal ideas on lowering lending standards on Housing that continued from the Clinton Era: Barney Frank supported lax regulations on Fannie and Freddie so minorities could become homeowners.
Bush wholeheartedly agreed to support this (along with open borders and amnesty, so I don't understand why liberals hate him so much (wars excepted of course)).
We are repeating what happened under Bush in 2001-2002. Bush inherited a recession and the Fed pumped money to save him (and us) from it. Obama has inherited a recession and the Fed (and Treasury) are pumping money to save him (and us) from it.
Problem is when the Fed interferes with the free-market they cause all kinds of non-market related swings, like the one we are seeing.
The Fed needs to just butt out and let the market do its thing. The USSR proved to all of us that "central planning" doesn't work, and we now have more central planning in the USA than ever before.
I suppose it's just me, looking at things from an uninformed perspective. But I can't get the crazy notion out of my mind that perhaps the Fed should be doing something, as opposed to making predictions. Unless, of course, they have some sort of interest in guaranteeing that their predictions come true (which seems insane, but then who knows what's actually running through their minds?)
The Fed doesnt do anything except raise or lower rates, and since they are already at the bottom, they have nothing to do, nothing to say
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