• CNN: Five years later, a distracted president struggles with the economy
    29 replies, posted
[quote]Washington (CNN) -- It's been five years since the banking and credit crisis rocked the U.S. economy, causing markets to plunge, unemployment to spike, housing values to crumble and placing more Americans in financial peril than at any time since the Great Depression. On Monday, President Barack Obama touted his administration's successes in helping to turn things around even though national economic growth remains sluggish and millions of people have given up looking for work. Obama said government's response "put a floor under the fall" and his policies set the stage for an end to economic contraction and created an environment for the economy to grow again. The president specifically pointed to the impact of the economic stimulus, creation of seven million jobs, the resurgence of the bailed out Detroit automakers, higher taxes on the wealthiest earners and an increase in exports. "We've cleared away the rubble from the financial crisis and we've begun to lay a new foundation for economic growth and prosperity," Obama said. Although Obama paints a rosy scenario, there are still key questions on the economy. Larry Summers, a leading name to become the next chairman of the Federal Reserve, withdrew his name from consideration on Sunday, clearing the way for Janet Yellen, who serves as vice chairwoman at the Fed, to become the leading candidate. Also, the White House announced last week that top economic adviser, Gene Sperling, will step down as head of the National Economic Council and be replaced by Jeffrey Zients, the acting director of the Office of Management and Budget.[/quote] [url]http://www.cnn.com/2013/09/16/politics/obama-economy-five-years-later/index.html?hpt=po_t1[/url]
Our economy moves in a series of waves. Its like the ocean; there are low tides and high tides. Clinton rode in high on a tsunami, and Bush skirted down that landslide like a penguin going down an iceslope. Right now, Obama is sitting on stagnant water, waiting for the wave that may redeem him for all the shit we've put up with from him. It won't in my eyes.
[QUOTE=Jrose14;42219651]Our economy moves in a series of waves. Its like the ocean; there are low tides and high tides. Clinton rode in high on a tsunami, and Bush skirted down that landslide like a penguin going down an iceslope. Right now, Obama is sitting on stagnant water, waiting for the wave that may redeem him for all the shit we've put up with from him. It won't in my eyes.[/QUOTE] Is every non rich citizen just holding their breath at the bottom then? Or is that just a bullshit metaphor used to pretend like they have no influence?
[QUOTE=Jrose14;42219651]Our economy moves in a series of waves. Its like the ocean; there are low tides and high tides. Clinton rode in high on a tsunami, and Bush skirted down that landslide like a penguin going down an iceslope. Right now, Obama is sitting on stagnant water, waiting for the wave that may redeem him for all the shit we've put up with from him. It won't in my eyes.[/QUOTE] it couldnt be the massive amount of money thats being held onto from the upperclass that isnt being circulated to stimulate growth at all is it?
Obama may have a large amount of executive privileges when it comes to Foreign Policy (ie things Ron Paul is angry about), but he cannot magically improve the economy. All he could have done he has done, and all he would do in addition is blocked by Congress.
[QUOTE=person11;42220464]Obama may have a large amount of executive privileges when it comes to Foreign Policy (ie things Ron Paul is angry about), but he cannot magically improve the economy. All he could have done he has done, and all he would do in addition is blocked by Congress.[/QUOTE] He could have busted the big banks with the Justice Department though an obstructionist Congress during his first term doesn't help.
They did NOT put a floor under the collapse. Americans have less of a safety net today than any time in half a century, and the administration has done NOTHING to help people that don't have "executive" in their title. People are losing their homes and going hungry in staggering numbers and the administration is content to simply allow it to happen. He does not get to say they put a floor under anything. The recession generated the greatest wealth transfer from the poor to the rich in human history, and nobody is doing anything about it, because everyone in Washington is having their campaign coffers stuffed with the dollars the executive class have stolen from us.
I feel like this thread was posted to cause a shitstorm. Anyway, a president is only as good as his congress in my opinion.
wats he distracted by?? joe bidens penis? get to work FAGbama
[QUOTE=person11;42220464]Obama may have a large amount of executive privileges when it comes to Foreign Policy (ie things Ron Paul is angry about), but he cannot magically improve the economy. All he could have done he has done, and all he would do in addition is blocked by Congress.[/QUOTE] He doesn't have a button on his desk that reads "fix economy", no one is claiming it's something he can just magically and effortlessly do, but the fact that there is no oversight on banking is something he [i]can[/i] fix, or at least improve. I hate how every time he's criticized he gets a free pass because "lol he's not superman".
This has nothing to do with Obama.
[B]WHAT IS REALLY HAPPENING:[/B] [IMG]http://puu.sh/4tkg6/0632ff8b32.jpg[/IMG]
[QUOTE=zakedodead;42219753]Is every non rich citizen just holding their breath at the bottom then? Or is that just a bullshit metaphor used to pretend like they have no influence?[/QUOTE] you dont understand how the business cycle works. go take econ101. [QUOTE=codemaster85;42219782]it couldnt be the massive amount of money thats being held onto from the upperclass that isnt being circulated to stimulate growth at all is it?[/QUOTE] money is never not circulated. money in banks is loaned out and fractional reserve banking generates wealth for the economy because multiple people are using the same dollars in the bank.
I believe Obamacare may be a big reason the economy isn't recovering. just think, it's because of that, that businesses aren't hiring, or are only hiring part time, and are reducing hours, and are changing full time employees to part time.
[QUOTE=Glaber;42222056]I believe Obamacare may be a big reason the economy isn't recovering. just think, it's because of that, that businesses aren't hiring, or are only hiring part time, and are reducing hours, and are changing full time employees to part time.[/QUOTE] Really? Obamacare is to blame?
[QUOTE=elfbarf;42220960][B]WHAT IS REALLY HAPPENING:[/B] [IMG]http://puu.sh/4tkg6/0632ff8b32.jpg[/IMG][/QUOTE] Well no wonder he's confused, green usually means good and red usually means bad. Whoever designed those buttons did a terrible job, he should be to blame as much as Obama is.
[QUOTE=Glaber;42222056]I believe Obamacare may be a big reason the economy isn't recovering. just think, it's because of that, that businesses aren't hiring, or are only hiring part time, and are reducing hours, and are changing full time employees to part time.[/QUOTE] [url]http://www.cbsnews.com/8301-505143_162-57602267/despite-obamacare-execs-still-expect-to-keep-hiring/[/url]
[QUOTE=Jrose14;42219651]Our economy moves in a series of waves. Its like the ocean; there are low tides and high tides. Clinton rode in high on a tsunami, and Bush skirted down that landslide like a penguin going down an iceslope. Right now, Obama is sitting on stagnant water, waiting for the wave that may redeem him for all the shit we've put up with from him. It won't in my eyes.[/QUOTE] [media]http://www.youtube.com/watch?v=YKfJEv3SreQ[/media]
[QUOTE=fork in brain;42221260]you dont understand how the business cycle works. go take econ101. money is never not circulated. money in banks is loaned out and fractional reserve banking generates wealth for the economy because multiple people are using the same dollars in the bank.[/QUOTE] Well then, Adam Smith - explain it to us, the ignorant lower castes.
Money in banks can't benefit the US if those banks are offshore.
I don't see why people feel Obama is the single person to blame. I suppose it's because our species has a knack for pointing fingers. What I find the real problem to be is the fact that our congress has spent less days in session than previous years when our nation was prosperous. On top of that, when our congress is in session doing their overly paid "job" they just spend it arguing about trivial civil rights bullshit that shouldn't even be the subject to an argument.
[QUOTE=Stopper;42223227]Well then, Adam Smith - explain it to us, the ignorant lower castes.[/quote] The business cycle is unpredictable fluctuations in trade in a global economy. Though there are a few theories nobody knows why they recessions happen. Technically according to gdp growth rates the 2008 recession has been over for 3 years now. US unemployment rates aren't going down at the rate they have in past recessions for some reason.
Will the US ever have a president in the 21st century who isn't shit? Don't try making excuses Obama fucking sucks at this point.
[QUOTE=Bredirish123;42223756]I don't see why people feel Obama is the single person to blame. I suppose it's because our species has a knack for pointing fingers. What I find the real problem to be is the fact that our congress has spent less days in session than previous years when our nation was prosperous. On top of that, when our congress is in session doing their overly paid "job" they just spend it arguing about trivial civil rights bullshit that shouldn't even be the subject to an argument.[/QUOTE] I hope you mean they are trivial because the solutions to them are obvious
You know shit's interesting when CNN is turning on him.
Well, Ed, I would say today's weather is looking cloudy with a chance of shitstorms. [editline]17th September 2013[/editline] [QUOTE=Aman VII;42224327]Will the US ever have a president in the 21st century who isn't shit? Don't try making excuses Obama fucking sucks at this point.[/QUOTE] HE HAS AN OPINION! GET HIM!
[QUOTE=Aman VII;42224327]Will the US ever have a president in the 21st century who isn't shit? Don't try making excuses Obama fucking sucks at this point.[/QUOTE] He could have been better, but I don't think he's been as bad as he could have been. I mean, just because he isn't as bad as he could be doesn't excuse stuff he's done, but I don't think he's all that bad.
[QUOTE=Jrose14;42219651]Our economy moves in a series of waves. Its like the ocean; there are low tides and high tides. Clinton rode in high on a tsunami, and Bush skirted down that landslide like a penguin going down an iceslope. Right now, Obama is sitting on stagnant water, waiting for the wave that may redeem him for all the shit we've put up with from him. It won't in my eyes.[/QUOTE] I know you're trying to sound ~ARTISTIC~ and unique but seriously can we please not do this pseudo intelligence shit now. [editline]17th September 2013[/editline] [QUOTE=Mr. Someguy;42222688]Well no wonder he's confused, green usually means good and red usually means bad. Whoever designed those buttons did a terrible job, he should be to blame as much as Obama is.[/QUOTE] we should ban the color red it means communism
Actually.. The real reason why the economy is bad, why there is high unemployment, why bubbles pop, why banks are bailed out and so on. Is because shadow bankers in America are robbing the US economy through the Federal Reserve system. [B][I]"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." - Thomas Jefferson[/I][/B] CNN among other media are playing with your mind. Wake up.
Banks should be public. That is a good debate to have. They serve an essential purpose but they are constantly corrupted by the greed of their managers.
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