Why Obama's economic plan will fail

Discussion in 'Current Events' started by patbattlefield, Dec 23, 2008.

  1. patbattlefield

    patbattlefield New Wackbag

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    http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx


    sigh...
  2. Chino Kapone

    Chino Kapone Yo, whats wrong wit da beer we got? Donator

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    This has been in the making since 01, 02. They should have never cut the interest rate in the first place. 30% of the jobs produced in the past 6 years were due to the housing market. Owning a home is a privilege, not a right.

    It is not just Obama who is going to fuck up our Economy. Bernake is going to play a massive roll as well. Cutting the interest rate is the last thing we need. When we cut the interest rate we are just printing money. Our government cannot just produce money and cut taxes at the same time, thinking this is the cure all. Inflation is going to be ridiculous.

    They need to let the big 3 run file for bankruptcy, but won't because the Union has Obama in their back pocket. The free market spoke, we don't want GM, Chrysler and Ford's shitty products. They should have let the banks crumble. They would have been bought and restructured under new management. The banks and congress are all in this together. Our government won't listen to the people, but the people who fatten their pockets. The government is not going to let their constituents go bankrupt.

    What needs to happen is less government interference with the free market economy. Let the market correct itself. Instead of promoting spending, our government needs to promote saving. Reward people for saving their money, instead of blowing it on shit they really don't need. Less government will never happen with the power hungry fuck-o's elected.

    We need to bring the troops back. This war is costing us $3.5 trillion. That is roughly $11,000 per person.

    We are becoming a country more and more dependent on our government, while becoming more and more broke. Obama is not the answer. Once the honeymoon is over and this euphoric idea that he is the savior if finally diminished, maybe then people will realize how deep in shit our country really is.

    Eventually Mexico is going to set up boarder security to keep Americans from invading their country looking for work.
  3. wes mantooth

    wes mantooth wierdo Donator

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    Real Estate Down
    Bond Yields Down
    Commodities Down
    Stocks Down
    Employment Down
    Tax Revenues Down
    Gold Down
    Oil Down

    OMG! Its hyperinflation!


    Cash is king. He who has it right now is in a position of dominance. If that ever turns into a collapse then the last thing you'll care about is your investment portfolio. In the meantime I'll invest accordingly. Plus we're now at a zero percent interest rate. That means deflation is King Kong. The rest of the world will soon join us at zero dragging and screaming but join us they will. We're all overleveraged you see. I'm really more concerned for Europe than the US to be honest. The Pound will collapse before the Dollar. There's your canary in the coal mine if you need one.

    And yes, the Obama economic plan will fail. Like all Socialist solutions it reeks of arrogance in that it presumes that the government controls everything. I think it should be obvious at this point how little they actually control.

    And if you think this deflation is to be short in duration then please look at previous examples of it. It's quite hard to get rid of once it takes hold. Japan has had it for the last two decades. Our last version took a fucking world war to shake it off. It can be very persistent is my point.
  4. Glenn Dandy

    Glenn Dandy THE ONLY WHITE PRESIDENT LEFT.

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    thats alot of reading.... how about because someone will shoot him.
  5. DanaReevesLungs

    DanaReevesLungs I can keep rhythm with no metronome...

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    :deadhorse:deadhorse:deadhorse
  6. Chino Kapone

    Chino Kapone Yo, whats wrong wit da beer we got? Donator

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    Post of the year nominee... :clap:

    Thanks for the laugh you drunk fuck-o. :action-sm
  7. patbattlefield

    patbattlefield New Wackbag

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    Sorry not a dead horse to me and a lot of other people who see the destruction this plan will wreak on the economy. My only hope is that the Republicans will use the filibuster to stop this shit. But I'm sure they will cave.
  8. CousinDave

    CousinDave Well-Known Member Donator

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    If you're putting any hope in the hands of the "Republicans" then prepare to be let down.

    Its time to abandon the Republican party in favor of the Libertarian party.

    At this point supporting the Republicans is worse than supporting the Democrats.
  9. THE FEZ MAN

    THE FEZ MAN as a matter of fact i dont have 5$

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    and bush stole the 2000/04 election involved us in a stupid fucking war, ran the country into the ground, and destroyed any credibility that colin powell had.. :action-sm but yet its all the ******* fault.
  10. Pigdango

    Pigdango Wackbag's Man of Gold Donator

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    I read through it pretty carefully, and I don't see what this has to do with Obama's economic plan? They're both democrats? I understand the point they're making about one specific act prolonging the depression, but the article says that the Supreme Court called the act in question Unconstitutional, meaning Obama can't repeat it. I know the Democratic platform calls for an increase in the minimum wage. Is that the connection?
  11. Schmed

    Schmed I'm a corpse without a soul...

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    We need a true Conservative movement to get going, that puts National interests before International interests, fuck these pandering Demicans and Republicrats.
  12. patbattlefield

    patbattlefield New Wackbag

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    Obama is about to repeat what FDR did; they are even calling it the "New Deal 2". They also want to increase union membership as Roosevelt did by doing away with the secret ballot which is mentioned in the article as one of the causes of the depression being lengthened. It may not be identical to the original New Deal but it contains the same failed principles.
  13. patbattlefield

    patbattlefield New Wackbag

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    Isn't it interesting that things were going just fine until the Dems took control of Congress...the same Dems that came up with the Community Reinvestment Act and blocked any attempt to bring the oversight needed to prevent the collapse of the housing market. Bush and a Republican congress kept the economy from tanking for 7 years after the worst attack on American soil in history. He Brought us out of two recessions. While I am very unhappy with him and the Republicans for increasing government spending and abandoning conservative principles it is Democrats that bear the greater burden for this mess. Obama is about to make Bush's increase in the size government look like child's play.
  14. Beeman99

    Beeman99 Registered User

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    [​IMG]

    please go to Mexico like someone in this thread said. Canada doesn't need your problems.
  15. Stig

    Stig America's Most Beloved Entertainer

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    The Dems are ALWAYS calling for an increase in the minimum wage. It's a great way to get the dumbest (and therefore lowest-paid) Americans to vote for you. Where the fuck do people think that money comes from?
    Raising the wages of the lowest paid employees forces you to raise up everyone above them, driving up the costs of goods and services even farther out of reach of the lowest paid people. It's a fucking smokescreen, but they get away with it because if you vote against it, they can paint you as evil and "just looking out for the rich."
  16. Party Rooster

    Party Rooster Unleash The Beast Donator

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    It's called fear-mongering. The people who have vilified Obama before he even takes office are as bad as the global warming nuts. Hand picking a couple of talking points in this article and parlaying it to his entire economic plan shows he is just like FDR maaaaaannn.

    The Obama politburo has already altered their economic plans several times as things have rapidly been changing. Hell, even before the election they admitted that the $250k threshold for the tax increase had to be lowered to $150k or even lower.

    And people aren't going to be as tolerant as they were in the 1930's. If things don't start looking up, the Republicans will get a chance to "save us" in 2010 or 2012. Until guys like Bob Barr and Ron Paul can get a more mainstream following, we're doomed. Maybe this is what it will take to make that happen.

    For you to think that things were going just fine until 2007 shows how clouded your perception really is. And for you to say Bush and a Republican congress kept the economy from tanking is inaccurate. They merely staved off the inevitable, which made things worse, for a couple of years.

    But the Treasury Department, the financial companies, and Freddie and Fannie, deserves a helluva lot more of the blame. Sure Freddie and Fannie were infested by democrats, but he financial companies were infested with republicans.

    People that fail to realize that today's situation was a grand bi-partisan fuck up are doomed to repeat it. The whole financial industry is a mess. How did the SEC fail to prevent Madoff from bilking investors out of $50 billion? That's three times what the entire American auto industry was asking for. I suppose that's Obama's fault too.
  17. patbattlefield

    patbattlefield New Wackbag

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    I never said things were fine up until 2007. That is when the consequences of the Democrat's Community Reinvestment Act and blocking of attempts to bring proper oversight to Fannie Mae and Freddie Mac and the banking industry as a whole came to bear. And I don't place 100% of the blame on Democrats it was partly Republican complacency that allowed this to happen as well, but the majority of the root causes for where we are now started in Democratic think tanks. The Republicans fell asleep at the switch, but the Democrats actively pursued failed ideas and spat in the face of the free market so that they could have their social utopia. Then when things went spiraling down and Bush's administration decided that their failed ideas could get us out of this mess and started the bailouts. So, yeah, fuck both parties.
  18. DonTheTrucker

    DonTheTrucker I talk on the radio. No, really, I do.

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    I'd like to think you're right, but I'm afraid that the "people" as in the 90% of Americans that don't know shit will go right along with whatever gets shoved down our throats.

    And those who think a third party is the answer, how about just electing conservatives to the party we got? Ron Paul saw what a loser the Libertarian party is and has made somewhat of an impact on the Republican party. 10 or 20 more Ron Pauls in the House and 3 or 4 of them in the Senate and we'll be better off.

    I'd have voted for Paul myself, if he hadn't blown it by supporting surrender in Iraq. I was hoping if McCain pulled off a miracle and won, he'd make ol' Ron the Sec. of Treasury or something.
  19. CousinDave

    CousinDave Well-Known Member Donator

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    Declare victory and leave.
  20. DonTheTrucker

    DonTheTrucker I talk on the radio. No, really, I do.

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    Not such a good idea if we haven't actually won. That's a Bill Clinton move. Didn't work so well in Somalia.
  21. BloodyDiaper

    BloodyDiaper Registered User

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    http://www.prospect.org/cs/articles?article=learning_from_the_new_deals_mistakes
  22. Vyce

    Vyce Light-skinned, with no Negro dialect.

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    And this one sentence pretty much sums up that shit. "Not ENOUGH socialism!"

    Hopefully, President Hussein is smart enough to not plunge us headfirst into rampant socialism. At least not in his first term, if he wants to win reelection.
  23. weeniewawa

    weeniewawa I'm just a big dummy Donator

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    That and most union contracts are tied to the minimum wage thus giving union members a raise and getting them to vote for dems.

    look how well that has turned out for the auto unions
  24. patbattlefield

    patbattlefield New Wackbag

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    First the steel industry now the auto industry. Unions are destroying this country from the inside out.
  25. MrBogey

    MrBogey En Taro Anthony Donator

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    How do you debunk the New Deal advocates?

    Play them their own words back.



    Summary: Inflation can make us all rich.

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