Friday, December 18, 2009, 5:52AM ET - U.S. Markets open in 3 hours and 38 minutes.
"A failure to act, and act now [on the bill], will turn crisis into a catastrophe," Obama said, sounding a lot more like his predecessor than the candidate of hope and change.
Meet the new boss, same as the old boss?
Even as he sees the potential for a near-term rally, Todd Harrison, CEO of Minyanville.com, says Obama is understandably worried about the risk of Congressional inaction. "He's right there's potential for this [economy] to get much worse and manifest itself not only financially, but through societal unrest," he says.
More than Obama's rhetoric or what's in the stimulus bill, Harrison is worried that protectionist policies worldwide could lead to heightened geopolitical tension and, ultimately, global war. Now that's something to really be worried about.
Where is that ding bat interviewed on election day salivating over the fact that the messiah would pay her mortgage and buy her gasoline?
Obama, what a joke. And I voted for him,despite the admonishments of others. A stimulus bill filled with pork and Democrat filled social program give aways. Build stuff, Obama. Put people to work,rebuild our crumbling infrastructure. Sigh....new boss same as the old boss.
Outside of the fact that the Democrats see an opportunty to give more money to things that are not needed to spark the economy, what's the difference from the Bush administration? The press releases sound the same. Is this change?
What is ....."the point of no return"?????
Obama indicated all trade agreements will be respected. Beyond our trade agreements we should buy American, and China can keep their exploding cell phone batteries. This bill needs to pass now. Why should Iraq, which we taxpayers finance at $12 billion per month, be the only country that gets US tax dollars to build highways, road and water treatment plants. Let's build some of that stuff in America for once.
We are a country with a low savings rate compared to other industrial countries. We need to save more. Yet, our economy requires consumer spending to keep it afloat. Wow, what a paradox! How do we get out of this trap? I say bite the tough bullet, take tough medicine, reward savings, punish consumer spending.
The CEO's response to the question about whether this is like Bush was totally off. Bush's fear mongering (re: 9/11, terrorism, etc., albeit perhaps not about Iraq) was similarly grounded in reasonable fears. The issue isn’t whether there’s some basis for such fear mongering. The issue is whether appealing to people’s fear and pushing for rushed agreement on wide-reaching plans is a good approach and consistent with the hope and change message. It isn’t. It’s like 9/12/01 all over again. The bottom line is that Obama is no longer campaigning. Faced with reality, his tune is changing - from lobbyists in his administration, to nonpartisanship, to fear mongering. He's a politician like the rest of them, not the messiah the media made him out to be and some voters blinded by their emotions believed. His first two weeks have been a disaster by any measure on any issue – from foreign policy to the economy. The nominations process has been a circus (and not just the tax cheats). Hopefully he can change course and lead the country out of this quagmire the Democratic-controlled Congress seems intent on digging us deeper into with their misguided failed policies. To the anticipated leftists responders, I am not a con, neocon, or republican, so spare me your robotic personal attacks.
Most important is the "War" comment, it is very true and we should act as Americans to avoid this and fix our friggin problems. It is after all the Government people, that caused all this, lack of responsibly, fact!
the problem is bigger than obama and the government........greed crashed the financial system...........arrest the guilty ones and recover the money.........it is still a crime to steal...........
The president has hope. He is not going to sit idley by and wait for Congressional windbags to turn this thing into a circus. Time IS of the essence and the clock is counting down.
We screwed up. We went running down that dead-end trail of greed and materialism. This is the painful period in which we re-determine our values as Americans.
The CEO's response to the question about whether this is like Bush was totally off. Bush's fear mongering (re: 9/11, terrorism, etc., albeit perhaps not about Iraq) was similarly grounded in reasonable fears. The issue isn’t whether there’s some basis for such fear mongering. The issue is whether appealing to people’s fear and pushing for rushed agreement on wide-reaching plans is a good approach and consistent with the hope and change message. It isn’t. It’s like 9/12/01 all over again. The bottom line is that Obama is no longer campaigning. Faced with reality, his tune is changing - from lobbyists in his administration, to nonpartisanship, to fear mongering. He's a politician like the rest of them, not the messiah the media made him out to be and some voters blinded by their emotions believed. His first two weeks have been a disaster by any measure on any issue – from foreign policy to the economy. The nominations process has been a circus (and not just the tax cheats). Hopefully he can change course and lead the country out of this quagmire the Democratic-controlled Congress seems intent on digging us deeper into with their misguided failed policies. To the anticipated leftists responders, I am not a con, neocon, or republican, so spare me your robotic personal attacks.
Many of us saw from the beginning that Obama is just another conman. He has no qualifications for the presidency and was elected for his left wing philosophy. There is no hope and the only change will be toward socialism.
Anyone saying "same ole" comparing Obama too the bush administration is a major joke. Dude have been at work for 11 days...Change is taken place..Im still laughing at the notion Obama and Bush the same... LOL LOL LOL.....
Obama said if they do not pass the "stimulus" then this recession could become irreversible - AMAZING. Maybe he has not heard of something called the business cycle. Gov't is, and has been for many years, trying to cancel out the busines cycle thru legislation. It only makes matters worse - just ask Japan
I did not vote for this moron. Capping pay for executives is ridiculous. And this coming from the most overpaid bunch of idiots in America - DC politicians who, HELLO!, don't want to pay taxes because it takes a big bite out of their pockets - you know, giving useless speeches to lobbyists and such. And the lunacy continues. Wake up America! And thanks for putting the Democrats (non-tax payers) in charge! Grab your ankles and watch your 401Ks go out the window. My money is sitting pretty in secured bank accounts. That is until Obama comes a-knocking for it....
"Irreversible recession?" That's some flippant scaremongering. President Obama: You aren't going to be president forever. The US is going to get out of this regardless of what you do.
"Irreversible recession?" That's some flippant scaremongering. President Obama: You aren't going to be president forever. The US is going to get out of this regardless of what you do.
robert n, WELL SAID. Obama's "Change" was a smokescreen way to get popular. First week he was president he then "changed" alraight, he told us all to be patient, the he can't do what he stated during the election. No surprise there. He can't change it in one term, no human can. The problem is greed amongst the masses, then they're the first to bellyache. Go figure.
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Yahoo! Finance User - Thursday February 05, 2009 12:11PM EST
Well, even if the president doesn't, I still have hope.