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Yes.He is in charge,who else would ultimately be responsible?
I'm not saying he's without blame; I'm saying that he's not the only one 'in charge' here. Look at the objective facts and not just the subjects. And then put those facts into their proper context. Saying that 'Obummer's unemployment rate is at 9 percent' is disingenuous when one considers that he inherited an economy that was shedding 1/2 to 3/4 million jobs each month. He entered with a major credit freeze. He entered by taking over an economy that had quite literally no investors. Sorry, but economies don't just dust themselves off in that case. All of this occurred before he got in office.
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Originally Posted by oz in SC
Ohh,yes,it has stabilised at a much lower level,the new norm.
People will forget(or choose to not remember) how good things used to be,it is how people work.
It has 'stabilised' by destroying the us dollar's value.
It has 'stabilised' by shedding millions of jobs that won't be coming back.
It has 'stabilised' by having millions of people who will,in my opinion,become the permanently unemployed.
The only precedent for the situation we're now in is the Great Depression, and believe it or not, in some ways, we were probably better off during the Depression than we are now. At least back then, America was mostly self-sufficient in terms of her resources, which is not the case anymore.
Quote:
Originally Posted by oz in SC
Banks are one of the main causes of the problem.
One of the main causes? Try *the* cause. Which companies collapsed? It wasn't Exxon. It wasn't Microsoft. It wasn't a railroad or an airline. It was Bears-Sterns. It was Lehman. AIG. It was the financial sector. They are the cause of our current mess. And since they invest heavily in buying Washington politicians, they've resisted changes that would have prevented this sort of mess from occurring.
Quote:
Originally Posted by oz in SC
That and government interference.
How did government interfere? Greenspan encouraged spending and deregulation, both of which he got. Greenspan is quoted as saying that fraud is the consumer's business, not the concern of regulators. I think that pretty much tells you all you need to know.
I'm not saying he's without blame; I'm saying that he's not the only one 'in charge' here. Look at the objective facts and not just the subjects. And then put those facts into their proper context. Saying that 'Obummer's unemployment rate is at 9 percent' is disingenuous when one considers that he inherited an economy that was shedding 1/2 to 3/4 million jobs each month. He entered with a major credit freeze. He entered by taking over an economy that had quite literally no investors. Sorry, but economies don't just dust themselves off in that case. All of this occurred before he got in office.
The only precedent for the situation we're now in is the Great Depression, and believe it or not, in some ways, we were probably better off during the Depression than we are now. At least back then, America was mostly self-sufficient in terms of her resources, which is not the case anymore.
One of the main causes? Try *the* cause. Which companies collapsed? It wasn't Exxon. It wasn't Microsoft. It wasn't a railroad or an airline. It was Bears-Sterns. It was Lehman. AIG. It was the financial sector. They are the cause of our current mess. And since they invest heavily in buying Washington politicians, they've resisted changes that would have prevented this sort of mess from occurring.
How did government interfere? Greenspan encouraged spending and deregulation, both of which he got. Greenspan is quoted as saying that fraud is the consumer's business, not the concern of regulators. I think that pretty much tells you all you need to know.
How did government interfere? I can't believe you even have to ask that! Ask Barney Franks about that. He was told many times by the last administration that F&F were in serious trouble and it would crash the housing market, Franks denied it and blocked all reform efforts. Remember that????
This phrase "unexpectedly" is in every one of these news stories. Whoever these experts are that get caught off guard every time, should be fired.What's not to expect? We have no policies by this president to encourage private sector growth. What we do have is fist pounding for raising taxes and a president who is promoting class warfare and class envy.
Just look at the presidents weekly schedule, he does not even start work until around 9:00, and he never meets with business owners to see what is getting in the way of them hiring people and expanding their businesses.
Going golfing is vastly more important to this president then job creation and the economy. 0bama has been out golfing 30 times this year alone, and almost 90 times since he was sworn in as president. If you don't believe me, then go thru his calender for this year and show me how many times he has met with the small business community or economists to help them create jobs and increase prosperity.
Obama has been in Office for a good many years now,he has stated this is his economy...so he gets to live with that.
That said,it has been happening for decades,the slow decline of this nation.
I believe this nation is in a worse state than during the Great Depression,except we have distractions and a (poorly constructed) safety net in place...that cannot be maintained.
The banks were given free rein by the fedgov,the fedgov has printed money like there is no tomorrow.
To give an example,when in Australia two or so years ago,the USD was worth over $1.70 AUD.
Before that,it was worth close to $2AUD.
Now it is almost one USD to one AUD.
That isn't because of anything to do with the Australian dollar,that is how weak the USD is now.
And with the collapse of the USD,there goes my dream of moving back....
Well that and you can't sell real estate in this nation for crap....
How did government interfere? I can't believe you even have to ask that! Ask Barney Franks about that. He was told many times by the last administration that F&F were in serious trouble and it would crash the housing market, Franks denied it and blocked all reform efforts. Remember that????
How did government interfere? I can't believe you even have to ask that! Ask Barney Franks about that. He was told many times by the last administration that F&F were in serious trouble and it would crash the housing market, Franks denied it and blocked all reform efforts. Remember that????
Well thankfully Barney Fwanks (aka Elmer Fudd) is rolling his arse out of office soon. Maybe he can take that crook Rangel with him, they could share a chase lounge at Rangel's vacation home.
Cramer the talking idiot was just on the Today show saying that one of the big signs that things are getting better is.... you guessed it, the number cited being lower, but he said the number doesn't come out until tomorrow.
Oh, and that Christmas spending is up,up,up! Whoopie, people doing retail therapy at bargain basement prices is a good thing?
Businesses cannot expand by selling their products at cost. Some folks need to pay retail to keep the doors open. When will Obama start calling the bargain shoppers "greedy" for not paying their "fair share" for Christmas gifts?
ONE MORE TIME: Neither the President or Congress is in charge of creating jobs. Yes, they can help create a business friendly environment but that is limited in its affect. The source of jobs is the private business sector and the consumer, just so ya know.
And yet the fedgov. keeps spending hundreds of billions of dollars we don't have and have to either borrow or print up to make jobs...
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Does that ever work?
