Washington.– President Barack Obama
was set on Tuesday to use the grand political stage of his debut
address to Congress to counsel a nation gripped by economic fear and to
showcase his ambitious agenda.
Five weeks into an administration born amid the worst financial tumult
since the 1930s, Obama will grasp the unique political megaphone
reserved for presidents to speak directly to Americans in the crucial
televised speech.
With the economic storm swirling, Obama has already driven a
787-billion-dollar stimulus plan through Congress, unveiled a
275-billion-dollar foreclosure plan and tried, so far unsuccessfully,
to steady the banking industry.
Watched by his cabinet, top US military commanders, Supreme Court
justices and lawmakers, Obama will step up to the lectern in the House
at 9:00 pm (0200 GMT) for the most important speech of his presidency
so far. He will ride into the evening on a wave of popular support, despite a daily diet of devastating economic news.
From: Spain, Ibiza, Minorca, Mallorca
I for one will not tune in. He's been in office for just a month, and already he's affecting the economy considerably. When either he or Geitner speak the stocks tumble. He's not Midas after all the spin and verbal gymnastics. Watch for the markets to take a dive this time tomorrow!
From: Cuba, it is a secret the censors are looking for me
very funny Arsenio ...but probably true....he should have stuck to changing light bulbs
From: Cuba, it is a secret the censors are looking for me
A man comes to the rabbi and complains about his life:
"I have almost no money, my wife is a shrew, and we live in a small apartment with seven unruly kids. It's messy, it's noisy, it's smelly, and I don't want to live."
The rabbi says, "Buy a goat."
"What? I just told you there's hardly room for nine people, and it's messy as it is!"
"Look, you came for advice, so I'm giving you advice. Buy a goat and come back in a month."
In a month the man comes back and he is even more depressed:
"It's gotten worse! The filthy goat breaks everything, and it stinks and makes more noise than my wife and seven kids! What should I do?"
The rabbi says, "Sell the goat."
A few days later the man returns to the rabbi, beaming with happiness:
"Life is wonderful! We enjoy every minute of it now that there's no goat - only the nine of us. The kids are well-behaved, the wife is agreeable - and we even have some money!"
Written by: anthonyC, 24 Feb 2009 11:15 AM
From: United States
Anybody notice how Obama's Speech started seconds after the Wall Street markets closed?
From: United States, Reality Check
GC, I do not quite understand. who's the goat John McLame or GW Bush?
Possibly the SEC Chair Christopher Cox who is now known 2 B incompetent!
Or was the goat GOP platform of "less Gov" that led to predatory banks free-for-all to RECORD DELINQUENCIES, FORECLOSURES, DEFAULTS, HOUSING CRISIS, FAILING BANKS, MASSIVE JOB LOSSES, US Debt in IRAQ $10B/month that RIPPLE through the economy where solid borrowers now can NOT get loans.
Less Gov regulation of predatory lending where high risk loans were bundled on Wall St. & sold as CDO's to US Pensions, the Chinese etc which is now worthless paper @ 0.34 on-the-dollar at best after banks were forced to write them down based on M2M (market-to-market).
GC, I agree I think most Americans feel better after speaking their voice in the last Nov election.
Are you guys talking about the September '07 crash around the time that McLame said the economy is very sound? Recall, Clinton's '92 speech "IT'S THE ECONOMY STUPID!"?
From: United States, Reality Check
Or are you talking of more recent after shocks which is negative spillover from the Bush II era?
We voted becuz we know, the Bush legacy left us in a global crisis (not only the US)? Bush basically finished off what he father had started...
Less discuss the GOP TRENDS that when Clinton also took office the US was in RECESSION whereas US DEBT QUADRUPLED from the prior 12 years! How did the US DEBT grow 400%?
All of the above seem as as out-of-touch as McLame with average American family struggles which lead to the landslide victory.
I am a-m-a-z-e-d at the benefit of the doubt Bush got from guys like you as the economy deteriorated after 9/11 and declined even further during his 2nd term. Recall Reagan's record defense spending during peace time as US Gov Revenues fell (via his tax cuts for the super rich)! It was a DEBT FINANCED recovery under Reagan for our children to pay!
While Obama has gotten for criticism in his first 30 days (for deficit spending like Reagan).
From: United States, Reality Check
Yes, TS I understand. The market will take care of itself as it moves back to a post-Bush equilibrium. Don't expect AIG, Citi-bank to be $100 per share (nor any of the banks). Not new news.
We ALLOWED the GOP to push a agenda of "LESS GOV & LESS REGULATION" giving banks a free-pass to initiated predatory lending via new Wall St vehicles like CDO's where the junk mortgages were packaged & sold to the world, Chinese, US Pension funds etc BUT after write downs via M2M many of these investments are at only 0.34 per dollar! Not to mention the Made-offs & now the new billionaire financier who is in a new scandal as the US Gov purposely pulled back on regulations to save a buck. Look at all the non-profits that closed after the Made-off spillover.
TS, the US will never be the same after 9/11 AND similarly we will never be the same after the GW Bush era and its negative impacts that had ALREADY started during his tenure.
Just like Roosevelt after Hoover let the process play out!
From: United States
The markets are falling everyday after any news on the banks and AIG as well, so what is the point you are all trying to make? In any case the market is clearly no longer a functioning, efficient signaling mechanism. Sellers are distressed institutions forced to sell shares as much to meet other obligations/raise cash as it is because of any ills/positives they foresee in the spending plans or the actual economy.
From: United States, Reality Check
"The US will NEVER-EVER be the same after 9/11 AND SIMILARLY we will never be the same after the GW Bush era and its negative impacts that had ALREADY started during his tenure (i.e. RECORD DELINQUENCIES, FORECLOSURES, DEFAULTS, HOUSING CRISIS, MORTGAGES UNDERWATER, FAILING BANKS, UNDER CAPITALIZATION, DEVALUATIONS, STOCK CRASHES, LOST WEALTH, MASSIVE JOB LOSSES BUT ...RECORD HIGH EXECUTIVE PAY PACKAGES that NEGATIVELY RIPPLE through the economy with subsequently tighter credit choking the US economy while limiting the circular flow of funds & transactions).
But, if AnthonyC or Arsenio wants their heads in the sand & tell themselves OBAMA'S speech is causing the AIG & others failure (which occurred b/4 the election) then U have free choice to do so.
But these events were already set in motion.. the majority of American people are NOT stupid.
Just like Roosevelt after Hoover (now Obama after Bush) let it play out!
From: United States
JD I didn''t mean you, I mean these guys pointing out alleged market drops after Presidential or Fed Bank announcements.
Written by: anthonyC, 24 Feb 2009 12:21 PM
From: United States
"Just like Roosevelt after Hoover let the process play out!"
And we all know how that played out.
In case you went to public school here is a brief recap.
8 years of the worse economic Depression in US history.
Labor Camps
Confiscation of private property.
Disregard of the U.S. Constitution.
Oh, and a little thing called WORLD WAR 2!
From: Cuba, it is a secret the censors are looking for me
this is the explanation about the goat
From: Cuba, it is a secret the censors are looking for me
Every time the new president opens his mouth, the market plunges. The banking crisis, which Obama used to get in power, was nothing compared to the post-election economic meltdown. On February 10 alone, after Treasury Secretary Geithner proposed a new economic rescue plan, the Dow lost 5% of its value. The unemployment is soaring while consumer confidence is sinking. Obama's aggressive marketing of perceived mass poverty became a self-fulfilling prophecy. As the shadow of the New Deal is darkening the horizon and the heavy steps of the approaching depression are sending tremors throughout the world, the appeal of Obama's plan is no longer in the eyes of the beholder.
This is where the goat comes in (in case you're still wondering about the title). Consider this old Jewish joke I heard back in Ukraine:
From: Cuba, it is a secret the censors are looking for me
A man comes to the rabbi and complains about his life:
"I have almost no money, my wife is a shrew, and we live in a small apartment with seven unruly kids. It's messy, it's noisy, it's smelly, and I don't want to live."
The rabbi says, "Buy a goat."
"What? I just told you there's hardly room for nine people, and it's messy as it is!"
"Look, you came for advice, so I'm giving you advice. Buy a goat and come back in a month."
In a month the man comes back and he is even more depressed:
"It's gotten worse! The filthy goat breaks everything, and it stinks and makes more noise than my wife and seven kids! What should I do?"
The rabbi says, "Sell the goat."
A few days later the man returns to the rabbi, beaming with happiness:
"Life is wonderful! We enjoy every minute of it now that there's no goat - only the nine of us. The kids are well-behaved, the wife is agreeable - and we even have some money!"
Written by: josean, 24 Feb 2009 12:27 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
JD_Dominguez, Manhattanite,
These neo-cons can not handle the truth. Even Richard Pearle is walking around giving speeches trying to cleanse himself of responsibility for this crazy war!
From: United States, Reality Check
There was an hi cost of Hoover (Bush) in the White House. But don't throw the baby out with the wash. Please, don't confuse the "cause" with the "effect".
Hoover was the "root cause" in the American economy's cancer but Roosevelt was the "solution" even though the US suffered the effects of bad presidential policies for many years during the turnaround. Likewise, we had already seen the demise of entities like AIG well into last year from the root causes during the Bush-onomics but we must NOT confuse this with WAMU'S (and others) ongoing demise during & after an Obama speech!
The current wave of economics is ALREADY in motion such as the junk mortgages packaged, bought & sold and leaving many mortgages underwater, next default & foreclosure and devastated both FANNIE & FREDDIE who's stocks are at $0.50 per share it has NOTHING TO DO WITH OBAMA's speech tonight, next week, next month nor next year!
The chips have already fallen!
A new world equilibrium is starting!
Written by: josean, 24 Feb 2009 12:32 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
jd, The Aussie agrees!
MURDOCH WARNS: NATIONS WILL BE REDEFINED, FUTURES ALTERED
Tue Feb 24 2009 08:36:39 ET
Media baron Rupert Murdoch issued an urgent internal communication late Monday, warning his staff: "We are in the midst of a phase of history in which nations will be redefined and their futures fundamentally altered."
MORE
The dramatic call comes as markets continue their plunge and the future of media becomes increasingly muddled.
"Many people will be under extreme pressure and many companies mortally wounded," Murdoch declared.
"Our competitors will be sorely tempted to take the easy beat, to reduce quality in the search for immediate dividends."
He continued: "Let me be very clear about our company: where others might step back from their commitment to their viewers, their users, readers and customers – we will renew ours.
"The direction of the business now and over the next few years will define the character of our company for decades."
From: United States, Reality Check
Written by: josean, 24 Feb 2009 1:39 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
jd,
Don't trouble them with facts.
Written by: josean, 24 Feb 2009 2:12 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
From: Cuba, it is a secret the censors are looking for me
Hell, back in 1990, the Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the economy of our country and our banking system to the same nit-wits who couldn't make money running a whore house and selling whiskey!"......Dread..Give me your Magic 8 Ball answer to this one
From: Cuba, it is a secret the censors are looking for me
In 1939, ten years after the crash on Wall Street, the Secretary of the Treasury, Henry Morgenthau, Jr., told the House Ways and Means Committee:
“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong…somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises…I say after eight years of this administration we have just as much unemployment as when we started…And an enormous debt to boot!”
From: Cuba, it is a secret the censors are looking for me
so much for the FDR economic plan.......Dread the Magic 8 Ball sil vous plait
From: United States
But GC unlike the tax evading whorehouses the banks have already been run into the ground by the management. The government bankers who'll oversee them now could hardly do worse. In fact without the government the banks would already have fallen and taken what's left of our economy down with them.
From: Cuba, it is a secret the censors are looking for me
who knew.....If only we had asked dread and " The Magic 8 Ball " sooner we would still be living large
From: United States, Reality Check
The great depression was bad!
But without the FDR plan it would have been 7 times worse.
Significant US infrastructure was built & millions who were previously out-of-work went back to work AND spent their wages on homes, food, autos & clothes @ the local Sears & Roebuck. But as the US aged & grew via NEW IMMIGRANTS there were new entrants unemployed into the US workforce...not because the FDR plan didn't work ...but the country grew & also more uncounted migrated to cities for jobs from rural areas making a bigger labor force.
Yes, there was debt created by the FDR but HOW do you measure the benefits for millions of Americans today who can drive from NY/NJ to Miami on US I95 South? The US has the most efficient road system to facilitate movement of goods & services unlike any place in the world!
GC, U sure as hell can NOT drive cross country in China nor the USSR. Unlike Reagan's STAR WARS ..the FDR monies were well spent & AMERICANS STILL benefit TODAY!
From: Cuba, it is a secret the censors are looking for me
Don’t confuse GENUINE OBAMA BRAND SNAKE OIL with other quack medicines! Only GENUINE OBAMA BRAND SNAKE OIL has the miracle ingredient Fraudulene!
It Masticates! It Ruminates! It Rinses and Expectorates!
And it can be all yours for the LOW LOW PRICE of just
$787,000,000,000 !
That’s Right Friends and Neighbors!
GENUINE OBAMA BRAND SNAKE OIL!
It has seven-hundred-and-eighty-seven billion uses!
Get your bottle today!
Written by: anthonyC, 25 Feb 2009 11:01 AM
From: United States
Written by: JD_Dominguez, 24 Feb 2009 4:37 PM
From: United States, Reality Check
The great depression was bad!
But without the FDR plan it would have been 7 times worse.
How? By taking money from people aho would have invested in business and using it to supply temporary jobs that generated nothing?
All it FDR plan was a shuffling some money around. It didn't generate anything.
From: Cuba, it is a secret the censors are looking for me
you mean like a kid when he moves his veggies around on the plate to make you think he is actually eating them ?
Written by: josean, 25 Feb 2009 12:21 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
The Wednesday Cuban Gusano Terrorist History Report
1983: Bomb explodes at Little Havana office of Continental National Bank, one of whose executives, Bernardo Benes, helped negotiate release of 3600 Cuban political prisoners.
1983: Miami City Commissioner Demetrio Perez seeks to honor terrorist Juan Felipe de la Cruz, accidentally killed while assembling a bomb. (Perez is now a member of the Miami-Dade County Public School Board and owner of the Lincoln-Martí private school where Elian Gonzalez was enrolled.)
1983: Gunfire shatters windows of three Little Havana businesses linked to Cuba.
Written by: anthonyC, 25 Feb 2009 12:28 PM
From: United States
"(Perez is now a member of the Miami-Dade County Public School Board and owner of the Lincoln-Martí private school where Elian Gonzalez was enrolled.)"
Way to share that UP TO DATE news.
And here i thought Elian was in Cuba and Perez was ousted from the school board years ago.
Written by: anthonyC, 25 Feb 2009 12:30 PM
From: United States
"Written by: gouletcolonial, 25 Feb 2009 11:11 AM
From: United States Virgin Islands, St Thomas Mahogany Run
you mean like a kid when he moves his veggies around on the plate to make you think he is actually eating them ?"
Luckily we have people Like Bobby Jindal who just refuses to be served Veggies.
But these Veggies are not good for you.
Written by: josean, 25 Feb 2009 12:35 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Wonder why Sarah Failin wasn't tapped do give the neo-nazi response?
Written by: josean, 25 Feb 2009 12:42 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Piyush who?
"For those who didn't hang around to watch the response, Jindal got, well, killed. (He might want to drop the teeny Bobby moniker to return to his childhood name of Piyush, just as Barry Obama became Barack.) On one level Jindal's speech is a measure of how thin the Republican bench is; except for maybe Mitt Romney, there aren't many other experienced, recognizable folks to call up from the triple-A leagues.
And that is a little-noticed but sad part of the Bush legacy for Republicans and a democracy that needs a healthy opposition as a political check,
No. 43 chose to cling to Dick Cheney as his VP in 2004 instead of bringing in a fresh heir apparent for four years of on-the-job White House training and building national name recognition before assuming GOP leadership. For that fateful decision, Republicans and the country will be paying the price now for several more years, at least."
http://latimesblogs.latimes.com/washington/2009/02/obama-jindal-1.htmlWritten by: anthonyC, 25 Feb 2009 12:46 PM
From: United States
WOW Josie.
Cut an paste from the LA Times?
lame
Written by: anthonyC, 25 Feb 2009 12:47 PM
From: United States
WOW
11:30 Am and the Dow is down 130 Points.
Seems that the Americans that actually fuel the economy didn't like Benito Obama's Speech.
Written by: josean, 25 Feb 2009 12:50 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Why do think they call it a WORLD ECONOMIC CRISIS!
Written by: josean, 25 Feb 2009 12:51 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
"lame" you forgot the "Mc" Lame!
Written by: anthonyC, 25 Feb 2009 1:51 PM
From: United States
Bernanke testifying
Benito Obama names Commerce Sec.(3rd times the charm?)
Dow down 147 points.
Seems like Joe Six-Pack in front of his PC is not smitten with the Obama Economic Plan.
Written by: anthonyC, 25 Feb 2009 1:59 PM
From: United States
12:45 PM
Down 170
Written by: josean, 25 Feb 2009 2:02 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
So!
That's Capitalism there are "winners and losers." Now is the time for the future "winners to buy from the current losers!"
From: Spain, Ibiza, Minorca, Mallorca
Written by: ArsenioALembertJr, 24 Feb 2009 11:06 AM
From: United States, (on Sabbatical)
I for one will not tune in. He's been in office for just a month, and already he's affecting the economy considerably. When either he or Geitner speak the stocks tumble. He's not Midas after all the spin and verbal gymnastics. Watch for the markets to take a dive this time tomorrow!
What did I tell yous?
Bank stocks tumble again after Obama's harsh words:
http://latimesblogs.latimes.com/money_co/2009/02/i-understand-th.htmlKeep believing your retread-che guevara wannabe intellectual bohemian numb nuts!
You'll wind up in a ditch!
Written by: josean, 26 Feb 2009 11:21 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Obama the next face on Mount Rushmore!
Written by: hvargas, 26 Feb 2009 6:04 PM
From: Dominican Republic
Obama's plans for economics recovery is going to work cause it has the backing of a higher power. The problems which are affecting the U.S. economic is not as wide spread as its being made to be. Many are using it as an excused to put more money into their pockets and countries like D.R. is deceiving its people about what really happen in the U.S. and how Wall Streets stole trillions of dollars.
Written by: anthonyC, 26 Feb 2009 7:51 PM
From: United States
"Written by: hvargas, 26 Feb 2009 6:04 PM
From: Dominican Republic
Obama's plans for economics recovery is going to work cause it has the backing of a higher power. "
Another case of a window licker thinking that Obama is the messiah!
Written by: josean, 26 Feb 2009 8:47 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Oops! I almost for got the Thursday Cuban Gusano Terrorist History Report!
1983: Gunfire shatters windows of three Little Havana businesses linked to Cuba.
1986: South Florida Peace Coalition members physically attacked in downtown Miami while demonstrating against Nicaraguan contra war.
1987: Bomb explodes at Cuba Envios, which ships packages to Cuba.
From: United States
Well I saw the speech and it was riveting!!! He emphasized on the economy, education and nuclear energy. It was the first time in years that I actually sat down and saw an entire presidential address. He has a lot of issues to deal with and the economy is his top priority. Unemployment is at all time high of 5 million unemployed Americans since 1983. Let's thank George W. Bush and his cronies for the mess that we are in. I as a Dominican American support him. I am sure he will make several mistakes along the way, but what president doesn't it. The republicans are of course up in arms and opposing everything. I think they should just shut up, since they got us into this mess in the first place. That being said, what a relief to see an articulate, cultured man in the White House again.
From: Spain, Ibiza, Minorca, Mallorca
Need I bore yous guys (y'all) with details and adulation:
Stocks end another down day in Wall Street's ring of fire
With apologies to Mr. Cash, Wall Street went down, down, down, and the flames went higher.
The smoking remains of the day:
http://blogs.usatoday.com/ondeadline/2009/02/stocks-end-anot.htmlP.S. Has anyone counted how many more days remain until Obama's first 100 mark?
We could start a trend here: Nightly postings of the market taking its daily dip...
How low can we go?
Written by: josean, 27 Feb 2009 6:34 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
bronxgirl60,
Excellent comment my sister! The 28 years of Reaganomics can not been undone in a month!
Written by: anthonyC, 27 Feb 2009 8:50 AM
From: United States
We need Reaganomics.
It works
That is a fact that cannot be disputed.
Written by: josean, 27 Feb 2009 1:12 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Time for the Friday Cuban Gusano Terrorist History Report!
1987: Bomb explodes at Almacen El Español, which also ships packages.
1987: Bomb explodes at Cubanacan, yet another package sending company.
1987: Car belonging to Bay of Pigs veteran is firebombed.
Written by: anthonyC, 27 Feb 2009 3:51 PM
From: United States
Josie,
Thanks.
Don't ya just hate the fact that I look favorably on those attacks on Commie sympathizers?
Kill a commie for mommy!!
Written by: josean, 27 Feb 2009 4:01 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
Some other animals like eating there own also!
Written by: anthonyC, 27 Feb 2009 4:20 PM
From: United States
Written by: josean, 27 Feb 2009 4:01 PM
From: United States
Some other animals like eating there own also!
That is true.
Planned Parenthood, The ACLU and Liberal Window-Lickers are best known for that.
From: Spain, Ibiza, Minorca, Mallorca
Three days in a row------Getting back to the focus of the thread***
Yet, another day to acknowledge a fiasco in the making: (more reasons why rhetoric don't help)
Wall Street slides after Citigroup-government deal
By TIM PARADIS – 3 hours ago
NEW YORK (AP) — Wall Street ended another unforgiving month with a steep loss — one that left the Dow Jones industrial average at less than half its record high...
The Dow fell 119.15, or 1.7 percent, to 7,062.93. The S&P 500 index fell 17.74, or 2.4 percent, to 735.09, and the Nasdaq composite index fell 13.63, or 1 percent, to 1,377.84.
Source:
http://www.google.com/hostednews/....OM3gFG_DytQQZFbWfgPT08MAD96K7MD80Written by: josean, 28 Feb 2009 10:54 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
From: United States
To josean:
Thank you, my fellow political ideaologist!! Oh God, Reagan, what traumatizing 8 years!! But not as bad as George W. Bush!!!!
From: Cuba, it is a secret the censors are looking for me
I don’t know if anyone has done this, but do this math:
If we want to “help” 5,000,000 unemployed people, which I think is about double the number of lost jobs in the past few months, what would happen if the government just wrote them all an annual check for $50,000?
It would be 5,000,000 x 50,000 = 250,000,000,000.
In other words, instead of a $900 billion “stimulus” package that helps almost nobody, the government could simply give 5 million unemployed people annual checks for $50,000 for 3 years, and still be LESS than this proposed “stimulus” bill.
How about just giving every person who has lost his job in the past 6 months and is still unemployed a one-time check equal to their pervious salary before they were laid off
From: United States
To gouletcolonial:
Well said!
From: Spain, Ibiza, Minorca, Mallorca
Not to belabor the issue; But, this is why I wouldn't listen to Lawyer Obama's diatribe:
Dow Below 6,800; Lowest Close Since ’97
Stock prices tumbled around the world Monday, amid new evidence that economies were weaker than had been thought. The losses were especially severe in Europe, where an emergency summit meeting over the weekend ended in bickering and the rejection of a bailout plea from Hungary.
Source:
http://www.nytimes.com/2009/03/03....kets.html?partner=rss&emc=rss================================================================
Obama's gonna finally dry out the well with his flights of fancy: He is also belligerent, and every time he speaks ill will proceeds out of each of his statements. He exudes bad vibes!
That is it for me, I won't beat a dead horse. You can lead a horse to water, but you can't make him reason.
#You've been warned.
Written by: underpar, 3 Mar 2009 11:27 PM
From: Dominican Republic
arsenio,
I am sorry to say, I agree with you! This is a fad that will end very soon.
ask Michael Phelps
Written by: underpar, 3 Mar 2009 11:30 PM
From: Dominican Republic
gouletcolonial,
I suggested that a month ago and it makes to much sense.
From: Cuba, it is a secret the censors are looking for me
The continuing meltdown in share prices, the worst since the Great Depression, now has become Exhibit A in the political battle between the Obama administration and its harshest critics.
Conservative pundits including Rush Limbaugh and CNBC-TV's Larry Kudlow assert that the president is waging war against capitalism itself, with his tax-hike proposals, social programs and banker-bashing rhetoric. That has sent disillusioned investors fleeing, they contend.
Well, something has. After diving 38% last year, share prices are down 24% just since Jan. 1, as measured by the Standard & Poor's index of 500 big-name issues.
Despite a slight uptick on Friday, stocks plummeted 7% this week alone.
Written by: josean, 7 Mar 2009 2:27 PM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016
"Rush Limbaugh and CNBC-TV's Larry Kudlow "
Bob Hope and No Hope!
Smaller
Bigger
Close Gallery
Facebook
Digg this
del.icio.us
Technorati
Yahoo
"I have almost no money, my wife is a shrew, and we live in a small apartment with seven unruly kids. It's messy, it's noisy, it's smelly, and I don't want to live."
The rabbi says, "Buy a goat."
"What? I just told you there's hardly room for nine people, and it's messy as it is!"
"Look, you came for advice, so I'm giving you advice. Buy a goat and come back in a month."
In a month the man comes back and he is even more depressed:
"It's gotten worse! The filthy goat breaks everything, and it stinks and makes more noise than my wife and seven kids! What should I do?"
The rabbi says, "Sell the goat."
A few days later the man returns to the rabbi, beaming with happiness:
"Life is wonderful! We enjoy every minute of it now that there's no goat - only the nine of us. The kids are well-behaved, the wife is agreeable - and we even have some money!"
Possibly the SEC Chair Christopher Cox who is now known 2 B incompetent!
Or was the goat GOP platform of "less Gov" that led to predatory banks free-for-all to RECORD DELINQUENCIES, FORECLOSURES, DEFAULTS, HOUSING CRISIS, FAILING BANKS, MASSIVE JOB LOSSES, US Debt in IRAQ $10B/month that RIPPLE through the economy where solid borrowers now can NOT get loans.
Less Gov regulation of predatory lending where high risk loans were bundled on Wall St. & sold as CDO's to US Pensions, the Chinese etc which is now worthless paper @ 0.34 on-the-dollar at best after banks were forced to write them down based on M2M (market-to-market).
GC, I agree I think most Americans feel better after speaking their voice in the last Nov election.
Are you guys talking about the September '07 crash around the time that McLame said the economy is very sound? Recall, Clinton's '92 speech "IT'S THE ECONOMY STUPID!"?
We voted becuz we know, the Bush legacy left us in a global crisis (not only the US)? Bush basically finished off what he father had started...
Less discuss the GOP TRENDS that when Clinton also took office the US was in RECESSION whereas US DEBT QUADRUPLED from the prior 12 years! How did the US DEBT grow 400%?
All of the above seem as as out-of-touch as McLame with average American family struggles which lead to the landslide victory.
I am a-m-a-z-e-d at the benefit of the doubt Bush got from guys like you as the economy deteriorated after 9/11 and declined even further during his 2nd term. Recall Reagan's record defense spending during peace time as US Gov Revenues fell (via his tax cuts for the super rich)! It was a DEBT FINANCED recovery under Reagan for our children to pay!
While Obama has gotten for criticism in his first 30 days (for deficit spending like Reagan).
We ALLOWED the GOP to push a agenda of "LESS GOV & LESS REGULATION" giving banks a free-pass to initiated predatory lending via new Wall St vehicles like CDO's where the junk mortgages were packaged & sold to the world, Chinese, US Pension funds etc BUT after write downs via M2M many of these investments are at only 0.34 per dollar! Not to mention the Made-offs & now the new billionaire financier who is in a new scandal as the US Gov purposely pulled back on regulations to save a buck. Look at all the non-profits that closed after the Made-off spillover.
TS, the US will never be the same after 9/11 AND similarly we will never be the same after the GW Bush era and its negative impacts that had ALREADY started during his tenure.
Just like Roosevelt after Hoover let the process play out!
But, if AnthonyC or Arsenio wants their heads in the sand & tell themselves OBAMA'S speech is causing the AIG & others failure (which occurred b/4 the election) then U have free choice to do so.
But these events were already set in motion.. the majority of American people are NOT stupid.
Just like Roosevelt after Hoover (now Obama after Bush) let it play out!
And we all know how that played out.
In case you went to public school here is a brief recap.
8 years of the worse economic Depression in US history.
Labor Camps
Confiscation of private property.
Disregard of the U.S. Constitution.
Oh, and a little thing called WORLD WAR 2!
This is where the goat comes in (in case you're still wondering about the title). Consider this old Jewish joke I heard back in Ukraine:
"I have almost no money, my wife is a shrew, and we live in a small apartment with seven unruly kids. It's messy, it's noisy, it's smelly, and I don't want to live."
The rabbi says, "Buy a goat."
"What? I just told you there's hardly room for nine people, and it's messy as it is!"
"Look, you came for advice, so I'm giving you advice. Buy a goat and come back in a month."
In a month the man comes back and he is even more depressed:
"It's gotten worse! The filthy goat breaks everything, and it stinks and makes more noise than my wife and seven kids! What should I do?"
The rabbi says, "Sell the goat."
A few days later the man returns to the rabbi, beaming with happiness:
"Life is wonderful! We enjoy every minute of it now that there's no goat - only the nine of us. The kids are well-behaved, the wife is agreeable - and we even have some money!"
These neo-cons can not handle the truth. Even Richard Pearle is walking around giving speeches trying to cleanse himself of responsibility for this crazy war!
Hoover was the "root cause" in the American economy's cancer but Roosevelt was the "solution" even though the US suffered the effects of bad presidential policies for many years during the turnaround. Likewise, we had already seen the demise of entities like AIG well into last year from the root causes during the Bush-onomics but we must NOT confuse this with WAMU'S (and others) ongoing demise during & after an Obama speech!
The current wave of economics is ALREADY in motion such as the junk mortgages packaged, bought & sold and leaving many mortgages underwater, next default & foreclosure and devastated both FANNIE & FREDDIE who's stocks are at $0.50 per share it has NOTHING TO DO WITH OBAMA's speech tonight, next week, next month nor next year!
The chips have already fallen!
A new world equilibrium is starting!
MURDOCH WARNS: NATIONS WILL BE REDEFINED, FUTURES ALTERED
Tue Feb 24 2009 08:36:39 ET
Media baron Rupert Murdoch issued an urgent internal communication late Monday, warning his staff: "We are in the midst of a phase of history in which nations will be redefined and their futures fundamentally altered."
MORE
The dramatic call comes as markets continue their plunge and the future of media becomes increasingly muddled.
"Many people will be under extreme pressure and many companies mortally wounded," Murdoch declared.
"Our competitors will be sorely tempted to take the easy beat, to reduce quality in the search for immediate dividends."
He continued: "Let me be very clear about our company: where others might step back from their commitment to their viewers, their users, readers and customers – we will renew ours.
"The direction of the business now and over the next few years will define the character of our company for decades."
All of you who are whiners about the low markets and blaming Obama (when you know in your heart of hearts this decline had already started pre-election back in September '07). There is a comparison & parallel of market trends under FDR which mirrors that of Obama:
http://finance.yahoo.com/news/FDR....ama-Markets-Then-tm-14452270.html
JD
Don't trouble them with facts.
http://apnews.myway.com/article/20090224/D96I2KCG1.html
“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong…somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises…I say after eight years of this administration we have just as much unemployment as when we started…And an enormous debt to boot!”
But without the FDR plan it would have been 7 times worse.
Significant US infrastructure was built & millions who were previously out-of-work went back to work AND spent their wages on homes, food, autos & clothes @ the local Sears & Roebuck. But as the US aged & grew via NEW IMMIGRANTS there were new entrants unemployed into the US workforce...not because the FDR plan didn't work ...but the country grew & also more uncounted migrated to cities for jobs from rural areas making a bigger labor force.
Yes, there was debt created by the FDR but HOW do you measure the benefits for millions of Americans today who can drive from NY/NJ to Miami on US I95 South? The US has the most efficient road system to facilitate movement of goods & services unlike any place in the world!
GC, U sure as hell can NOT drive cross country in China nor the USSR. Unlike Reagan's STAR WARS ..the FDR monies were well spent & AMERICANS STILL benefit TODAY!
It Masticates! It Ruminates! It Rinses and Expectorates!
And it can be all yours for the LOW LOW PRICE of just
$787,000,000,000 !
That’s Right Friends and Neighbors!
GENUINE OBAMA BRAND SNAKE OIL!
It has seven-hundred-and-eighty-seven billion uses!
Get your bottle today!
From: United States, Reality Check
The great depression was bad!
But without the FDR plan it would have been 7 times worse.
How? By taking money from people aho would have invested in business and using it to supply temporary jobs that generated nothing?
All it FDR plan was a shuffling some money around. It didn't generate anything.
1983: Bomb explodes at Little Havana office of Continental National Bank, one of whose executives, Bernardo Benes, helped negotiate release of 3600 Cuban political prisoners.
1983: Miami City Commissioner Demetrio Perez seeks to honor terrorist Juan Felipe de la Cruz, accidentally killed while assembling a bomb. (Perez is now a member of the Miami-Dade County Public School Board and owner of the Lincoln-Martí private school where Elian Gonzalez was enrolled.)
1983: Gunfire shatters windows of three Little Havana businesses linked to Cuba.
Way to share that UP TO DATE news.
And here i thought Elian was in Cuba and Perez was ousted from the school board years ago.
From: United States Virgin Islands, St Thomas Mahogany Run
you mean like a kid when he moves his veggies around on the plate to make you think he is actually eating them ?"
Luckily we have people Like Bobby Jindal who just refuses to be served Veggies.
But these Veggies are not good for you.
"For those who didn't hang around to watch the response, Jindal got, well, killed. (He might want to drop the teeny Bobby moniker to return to his childhood name of Piyush, just as Barry Obama became Barack.) On one level Jindal's speech is a measure of how thin the Republican bench is; except for maybe Mitt Romney, there aren't many other experienced, recognizable folks to call up from the triple-A leagues.
And that is a little-noticed but sad part of the Bush legacy for Republicans and a democracy that needs a healthy opposition as a political check,
No. 43 chose to cling to Dick Cheney as his VP in 2004 instead of bringing in a fresh heir apparent for four years of on-the-job White House training and building national name recognition before assuming GOP leadership. For that fateful decision, Republicans and the country will be paying the price now for several more years, at least."
http://latimesblogs.latimes.com/washington/2009/02/obama-jindal-1.html
Cut an paste from the LA Times?
lame
11:30 Am and the Dow is down 130 Points.
Seems that the Americans that actually fuel the economy didn't like Benito Obama's Speech.
Benito Obama names Commerce Sec.(3rd times the charm?)
Dow down 147 points.
Seems like Joe Six-Pack in front of his PC is not smitten with the Obama Economic Plan.
Down 170
That's Capitalism there are "winners and losers." Now is the time for the future "winners to buy from the current losers!"
From: United States, (on Sabbatical)
I for one will not tune in. He's been in office for just a month, and already he's affecting the economy considerably. When either he or Geitner speak the stocks tumble. He's not Midas after all the spin and verbal gymnastics. Watch for the markets to take a dive this time tomorrow!
What did I tell yous?
Bank stocks tumble again after Obama's harsh words:
http://latimesblogs.latimes.com/money_co/2009/02/i-understand-th.html
Keep believing your retread-che guevara wannabe intellectual bohemian numb nuts!
You'll wind up in a ditch!
From: Dominican Republic
Obama's plans for economics recovery is going to work cause it has the backing of a higher power. "
Another case of a window licker thinking that Obama is the messiah!
1983: Gunfire shatters windows of three Little Havana businesses linked to Cuba.
1986: South Florida Peace Coalition members physically attacked in downtown Miami while demonstrating against Nicaraguan contra war.
1987: Bomb explodes at Cuba Envios, which ships packages to Cuba.
Stocks end another down day in Wall Street's ring of fire
With apologies to Mr. Cash, Wall Street went down, down, down, and the flames went higher.
The smoking remains of the day:
http://blogs.usatoday.com/ondeadline/2009/02/stocks-end-anot.html
P.S. Has anyone counted how many more days remain until Obama's first 100 mark?
We could start a trend here: Nightly postings of the market taking its daily dip...
How low can we go?
Excellent comment my sister! The 28 years of Reaganomics can not been undone in a month!
It works
That is a fact that cannot be disputed.
1987: Bomb explodes at Almacen El Español, which also ships packages.
1987: Bomb explodes at Cubanacan, yet another package sending company.
1987: Car belonging to Bay of Pigs veteran is firebombed.
Thanks.
Don't ya just hate the fact that I look favorably on those attacks on Commie sympathizers?
Kill a commie for mommy!!
From: United States
Some other animals like eating there own also!
That is true.
Planned Parenthood, The ACLU and Liberal Window-Lickers are best known for that.
Yet, another day to acknowledge a fiasco in the making: (more reasons why rhetoric don't help)
Wall Street slides after Citigroup-government deal
By TIM PARADIS – 3 hours ago
NEW YORK (AP) — Wall Street ended another unforgiving month with a steep loss — one that left the Dow Jones industrial average at less than half its record high...
The Dow fell 119.15, or 1.7 percent, to 7,062.93. The S&P 500 index fell 17.74, or 2.4 percent, to 735.09, and the Nasdaq composite index fell 13.63, or 1 percent, to 1,377.84.
Source: http://www.google.com/hostednews/....OM3gFG_DytQQZFbWfgPT08MAD96K7MD80
http://www.elnuevodia.com/diario/....obama_para_nobel_de_la_paz/538994
Thank you, my fellow political ideaologist!! Oh God, Reagan, what traumatizing 8 years!! But not as bad as George W. Bush!!!!
I don’t know if anyone has done this, but do this math:
If we want to “help” 5,000,000 unemployed people, which I think is about double the number of lost jobs in the past few months, what would happen if the government just wrote them all an annual check for $50,000?
It would be 5,000,000 x 50,000 = 250,000,000,000.
In other words, instead of a $900 billion “stimulus” package that helps almost nobody, the government could simply give 5 million unemployed people annual checks for $50,000 for 3 years, and still be LESS than this proposed “stimulus” bill.
How about just giving every person who has lost his job in the past 6 months and is still unemployed a one-time check equal to their pervious salary before they were laid off
Well said!
Dow Below 6,800; Lowest Close Since ’97
Stock prices tumbled around the world Monday, amid new evidence that economies were weaker than had been thought. The losses were especially severe in Europe, where an emergency summit meeting over the weekend ended in bickering and the rejection of a bailout plea from Hungary.
Source: http://www.nytimes.com/2009/03/03....kets.html?partner=rss&emc=rss
================================================================
Obama's gonna finally dry out the well with his flights of fancy: He is also belligerent, and every time he speaks ill will proceeds out of each of his statements. He exudes bad vibes!
That is it for me, I won't beat a dead horse. You can lead a horse to water, but you can't make him reason.
#You've been warned.
I am sorry to say, I agree with you! This is a fad that will end very soon.
ask Michael Phelps
I suggested that a month ago and it makes to much sense.
Conservative pundits including Rush Limbaugh and CNBC-TV's Larry Kudlow assert that the president is waging war against capitalism itself, with his tax-hike proposals, social programs and banker-bashing rhetoric. That has sent disillusioned investors fleeing, they contend.
Well, something has. After diving 38% last year, share prices are down 24% just since Jan. 1, as measured by the Standard & Poor's index of 500 big-name issues.
Despite a slight uptick on Friday, stocks plummeted 7% this week alone.
Bob Hope and No Hope!