At What Date Does Obama Accept Responsibility for the Economy?

[rayboyusmc]

Care, stop bothering them with facts.

 

[DiamondDave]

Obama is going to own this recession in due time. He still has his so called "honeymoon," But with all he has been spending in his first month in office, it will be a short honeymoon.
When the president of the greatest nation in the world talks down our economy as he's done, he kills any consumer confidence.
With the amount that is being spent on our next form of government, the market see's it as for what it is, and reacts to it in a negative way. We have never spent our way out of a recession. I don't know of any country that has. Since obama has taken the oath, the market has dropped 1200 points. The reason is the market's perception is that Obama is not for capitalization, but has a socialist agenda. This is why Obama owns this recession.

the dow was at 14000 plus in june of 2007 wasn't it and 7600 the day obama was sworn in, or close....?

90% or more drop took place before obama...is what the numbers show...no?

care

This is true... there is no doubting the downturn started after the 2006 elections...

But Obama is making things worse with his idiotic spending plans, earmark laden bullshit, and lack of any experience in leadership...

 

[sealybobo]

Maybe Obama and Pelosi can't take back the country from the rich and powerful that now own it.

So we'll give the government back to the GOP, who serve those rich and powerful people.

 

[Meister]

Maybe Obama and Pelosi can't take back the country from the rich and powerful that now own it.

So we'll give the government back to the GOP, who serve those rich and powerful people.

That's the best post I have seen you put up. Your finally coming around.

 

[sealybobo]

Maybe Obama and Pelosi can't take back the country from the rich and powerful that now own it.

So we'll give the government back to the GOP, who serve those rich and powerful people.

That's the best post I have seen you put up. Your finally coming around.

You really want to give the government back to the GOP, who serve the rich and powerful?

What a house slave. Or are you rich.

Admitting it is the first step, so I'm proud of you.

I wonder why the GOP lost the 2006 election. According to you, they were doing a great job.

 

[Meister]

Maybe Obama and Pelosi can't take back the country from the rich and powerful that now own it.

So we'll give the government back to the GOP, who serve those rich and powerful people.

That's the best post I have seen you put up. Your finally coming around.

You really want to give the government back to the GOP, who serve the rich and powerful?

What a house slave. Or are you rich.

Admitting it is the first step, so I'm proud of you.

I wonder why the GOP lost the 2006 election. According to you, they were doing a great job.

Geeze, sealy, can't ya take a joke, dude??

I never said they were doing a great job...they spent way too much

 

[Truthmatters]

on what day do you wingnuts admit that your boys broke it?

Actually, you do realize that all spending bills originate in the House, which has been under Democrat control since 2006. That's when the economy started to fuck up.

You do realize that the corporations are the ones who caused this right?

You see lenders sold loans to people who could nto afford them, some lied and cheated to sell even more of them. Then they sold them to freddy and fanny and Europe and when they did they hid the contents of the securities they sold to make it so buyeers were not aware of the percent of sub prime loans that were in them. This all happened because of GLB act 1999 was passed but the safguards that were supposed to be in the bill were not allowed to take effect until 8 years later.

Guess what year that was ? 2007

 

[Meister]

on what day do you wingnuts admit that your boys broke it?

Actually, you do realize that all spending bills originate in the House, which has been under Democrat control since 2006. That's when the economy started to fuck up.

You do realize that the corporations are the ones who caused this right?

You see lenders sold loans to people who could nto afford them, some lied and cheated to sell even more of them. Then they sold them to freddy and fanny and Europe and when they did they hid the contents of the securities they sold to make it so buyeers were not aware of the percent of sub prime loans that were in them. This all happened because of GLB act 1999 was passed but the safguards that were supposed to be in the bill were not allowed to take effect until 8 years later.

Guess what year that was ? 2007

Your right, it was corporations, and the politicians

 

[k2skier]

1980

 

[k2skier]

1976

 

[k2skier]

or 1984

 

[Annie]

Bloomberg says now:

Bloomberg.com: News

‘Obama Bear Market’ Punishes Investors as Dow Slumps (Update3)
By Eric Martin

March 6 (Bloomberg) -- President Barack Obama now has the distinction of presiding over his own bear market.

The Dow Jones Industrial Average fell 20 percent since Inauguration Day through yesterday, the fastest drop under a newly elected president in at least 90 years, according to data compiled by Bloomberg. The gauge lost 53 percent from its October 2007 record of 14,164.53, slipping 4.1 percent to 6,594.44 yesterday.

More than $1.6 trillion was erased from U.S. equities since Jan. 20 as mounting bank losses and rising unemployment convinced investors the recession is getting worse. The president is in danger of breaking a pattern in which the Dow rallied 9.8 percent on average in the 12 months after a Democrat captured the White House, according to data compiled by Bloomberg.

“People thought there would be a brief Obama rally, and that hasn’t happened,” said Uri Landesman, who oversees about $2.5 billion at ING Groep NV’s asset management unit in New York. “It speaks to the carnage that’s in the economy and the lack of confidence in the measures that have been announced.”

A bear market is defined as a decline of 20 percent or more....

 

[raceright]

on what day do you wingnuts admit that your boys broke it?

Actually, you do realize that all spending bills originate in the House, which has been under Democrat control since 2006. That's when the economy started to fuck up.

You do realize that the corporations are the ones who caused this right?

You see lenders sold loans to people who could nto afford them, some lied and cheated to sell even more of them. Then they sold them to freddy and fanny and Europe and when they did they hid the contents of the securities they sold to make it so buyeers were not aware of the percent of sub prime loans that were in them. This all happened because of GLB act 1999 was passed but the safguards that were supposed to be in the bill were not allowed to take effect until 8 years later.

Guess what year that was ? 2007

Best Quote ever about banks
Thomas Jefferson 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 currency,first by inflation,then by deflation,the banks and coroporations that will grow up around the banks will deprive the people of all property untill there children wake up homeless on the continent their fathers conquered

 

[Annie]

on what day do you wingnuts admit that your boys broke it?

When do you admit that 'your boys' are making it worse, much faster than any 'wingnut' could have imagined? At least one at AP is getting it:

The Associated Press: Analysis: Obama recovery plans sowing some unease

Analysis: Obama recovery plans sowing some unease

By TOM RAUM – 20 hours ago

WASHINGTON (AP) — President Barack Obama offered his domestic-policy proposals as a "break from a troubled past." But the economic outlook now is more troubled than it was even in January, despite Obama's bold rhetoric and commitment of more trillions of dollars.

And while his personal popularity remains high, some economists and lawmakers are beginning to question whether Obama's agenda of increased government activism is helping, or hurting, by sowing uncertainty among businesses, investors and consumers that could prolong the recession.

Although the administration likes to say it "inherited" the recession and trillion-dollar deficits, the economic wreckage has worsened on Obama's still-young watch.
Every day, the economy is becoming more and more an Obama economy.
More than 4 million jobs have been lost since the recession began in December 2007 — roughly half in the past three months.

Stocks have tumbled to levels not seen since 1997. They are down more than 50 percent from their 2007 highs and 20 percent since Obama's inauguration.
The president's suggestion that it was a good time for investors with "a long-term perspective" to buy stocks may have been intended to help lift battered markets. But a big sell-off followed....

 

[FreeChristian]

I don't think it matters that Obama 'take responsibility' for the economy. What matters is that he helps fix it, along with everyone else. We have to be practical, and not partisan. We have to separate fact from fiction, reason from emotion.

 

[Meister]

I don't think it matters that Obama 'take responsibility' for the economy. What matters is that he helps fix it, along with everyone else. We have to be practical, and not partisan. We have to separate fact from fiction, reason from emotion.

Your right, but he does need to fix it, and not prolong it with his agenda of spending. It's never worked before.

 

[glockmail]

on what day do you wingnuts admit that your boys broke it?

Actually, you do realize that all spending bills originate in the House, which has been under Democrat control since 2006. That's when the economy started to fuck up.

You do realize that the corporations are the ones who caused this right?....

I didn't know that Barny Frank had incorporated.

 

[FreeChristian]

"Your right, but he does need to fix it, and not prolong it with his agenda of spending. It's never worked before."

I fear Obama's rescue plan will fail miserably, but at the same time, I know I have to break contact with the demonization campaign launched against the guy by the Far Right. I got sucked into to that noise early-on, and realized not long ago that it's partisanship-gone-mad.