Why Obama Will Likely Be A One Termer

Discussion in 'Current Events' started by Annie, Nov 14, 2010.

  1. Annie
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    Annie Diamond Member

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    For all the descriptions of compassion, this administration wouldn't know it if it kicked them in the face. They look at the poor, they look at the CEO's, they look at Union and government workers. They don't look at the multitude of those trying to survive on flat and falling incomes in the middle class. They do not look at those that were middle class that have fallen into lower groups via unemployment and underemployment. Now they are setting us on a road of a decade or more of misery and we know it:

    News Headlines

    I've thought it wrong when food and energy were removed from the CPI years ago. Now with the real estate bubble, it's really messed up.
     
  2. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    We need a little inflation. Contrary to popular belief..the economy is a fluid ever changing thing..it is not stagnant. And those that believe that one size fits all in every cycle of the economy (TAX CUTS..YEAH), are doomed to wreck it every time.
     
  3. Annie
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    Annie Diamond Member

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    Did you fail to read the article or just have comprehension issues?
     
  4. goldcatt
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    goldcatt Catch me if you can! Supporting Member

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    As things stand today I'd say Obama looks like a one-termer. But 2 years is a lot of time in politics. I have no idea what's going to happen between now and November 2012.
     
  5. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Nope.

    What I think is happening is deliberate.

    I think Bernake is trying to create inflation.

    The idiots that wrote the OpEd are probably to stupid to understand why..
     
  6. Annie
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    Annie Diamond Member

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    So you didn't read a CNBC article because of what you thought they were saying. Ok. In fact, they stated the same as you and Bernake, problem is that already inflation is on pace to be double where he wants it in one year. He's not looking at food costs, nor in all likelihood gasoline costs.
     
  7. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Like I posted. That may be deliberate.

    Now play economist and try to figure out why such a strategy would be desirable and wanted.

    At least try.
     
  8. Annie
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    Annie Diamond Member

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    I can't think of a reason with this economy and the amount of un/underemployment that anyone would purposefully set off inflation beyond 4% in a year. Educate me, wise one. One caveat, if it's the 'cheaper dollar' argument for debt payments, I do believe China and the rest of the G-20 made it pretty clear that tit for tat is in store.
     
  9. Baruch Menachem
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    Baruch Menachem '

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    Behrenke is trying to kick start asset prices, like houses, so that people will no longer be under water and will feel more comfortable spending money.

    However, asset prices still aren't recovering yet.

    But prices for essentials are starting to go up a lot.

    We aren't getting the benefit of the inflation they want, but we are starting to suffer the effects of inflation on things that are really going to hurt.

    Wages aren't going up either.

    We are returning back to the glory days of the 70s, where we had miserable levels of unemployment and horrible inflation at the same time.

    The next two years are going to be ugly.
     
  10. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    That's sort of a start in the right direction.

    And what did Paul Volcker do?
     

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