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This is where Obama's 100 days comes into play. Maybe they saw what happened in China and ASSUMED the same would happen here.
They just forgot a few details....corruption, red tape and corporate interests
No there is no comparison in the stimulus in china to ours. Ours is full of pork that provides reward to special interest as a election reward. The chinese stimulus is geared towards infrastructure. They also are not rewarding companes that can't make it.We have spent alot of money propping up failure and polically connected groups. That is why even the annoucement was not met with a bump after it was known what it contained.
Well there is no way to prove that right or wrong.
True, and that's why the crucial Stim II will be more of a fight than it should be.
But IF you want to save capitalism (I do not, yet fear what we the depths of hell we'll sink into on a temporary basis, if capitalism goes down under a conservative who will not do what is truly needed because it will affect the monied interests), then Obama is your last best hope.
Well Sag all I have to say is thank goodness I don't read and follow government projections because they are usually off by a great amount or simply wrong.
Projections are not a province of govenrment. They are a statistical tool used by everyone. They are a very valuable tool if you know how to use them properly.
Quote:
Originally Posted by HappyTexan
If Obama's advisors don't have a clue then he needs to get some new advisors.
There were, are, and never will be any advisors who can tell you with any degree of certainty what economic indicators will look like more than a scant few months from now. The best that any can do is tell you what the most likely probability is, but the further into the furture you go, the more likely it becomes that the most likely probability will be wrong.
Quote:
Originally Posted by HappyTexan
I'd recommend Schiff and Roubini for starters.
Why? Roubini is at least worth reading. Schiff is a clown. But more to the point, what policy recommendations do either of them actually propose or stand behind? How do they (or you) justify them other than by gazing into the crystal ball?
Would you like to put up a quote where either one of them said that every other economist agreed with them? Your version, you know, is very different from noting that a consensus of economists believed that a strong stimulus package was called for.
How does one cherry-pick data when all of them are bad? To repeat for the hard or hearing, the data used in the transition team's December projection were the latest that were then available.
I like that, a consensus, it is like Obama's claim that 150,000 jobs have been saved. It impossible to prove but boosters say impossible to disprove. many economists saw what was coming including Rubini. Even after Obama's budget was presented the "consensus" among economists was the unemployment and growth projections were too rosy so they must have known what was coming.
"The budget forecasts that the economy, as measured by the gross domestic product, would only shrink by 1.2 percent this year and then snap back and grow by a solid 3.2 percent in 2010, followed by several years of annual growth of over 4 percent.
That's more optimistic than most private forecasts, and comes despite a new government report showing the economy contracted by 6.2 percent in late 2008, far more than the 3.2 percent drop first reported."
Roubini warned about the economy and Schiff warned about real estate.
They have no policy recommendations because they weren't asked for any.
Our government is too big to react quickly.
saggy thinks Schiff, Rogers, et al are internet financial guru wannabes. They could be right 50 more times with 100% precision and it would make no difference to any DC beltway retard.
There were, are, and never will be any advisors who can tell you with any degree of certainty what economic indicators will look like more than a scant few months from now. The best that any can do is tell you what the most likely probability is, but the further into the furture you go, the more likely it becomes that the most likely probability will be wrong.
But 0bama stated with such firm conviction that his plan would "jump start the economy" and without it unemployment would hit 9% by the end of the year. In other words, he really had no clue, "guessed wrong" and now claims that this time he is guessing correctly. Oh, by the way, he claims he is guessing correctly about his health care plan and the Waxman-Markey climate change/carbon tax/energy bill.
All the while they pontificate on the grandiose success of their plans and predictions, and they attack anyone that offers a different opinion concerning their plans, with the most over the top rhetoric. As if disagreeing with their plan is rooting against the country, or wishing the economy to fail, yada-yada-yada.
saggy thinks Schiff, Rogers, et al are internet financial guru wannabes. They could be right 50 more times with 100% precision and it would make no difference to any DC beltway retard.
Well if I had listened to all those experts instead my 401K might have been at 50% loss.
Thankfully I didn't..I didn't follow the herd and my 401K was not only preserved but I made 5% on it for 2008.
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