Obama's Depression?

Discussion in 'Politics' started by OldRegular, Nov 20, 2008.

  1. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    Does Obama want another depression? The stock market is down 20% since he was elected. Many market watchers say that he could end the free fall simply by indicating now that he will not raise taxes as he has indicated. Perhaps a cut in capital gains, small business, and corporate taxes along with an extension of the Bush tax cuts is justified, even necessary.

    A depression would provide another opportunity for a Federal Government power grab such as exercised by FDR in the 1930's. Obama has an opportunity to debunk the Marxist accusations leveled against him. Will he take it or prove the accusations true?
     
  2. webdog

    webdog
    Expand Collapse
    Active Member

    Joined:
    Mar 31, 2005
    Messages:
    24,691
    Likes Received:
    0
    He will be seen in his true light...a marxist.
     
  3. NaasPreacher (C4K)

    NaasPreacher (C4K)
    Expand Collapse
    Administrator
    Administrator

    Joined:
    Oct 21, 2003
    Messages:
    26,806
    Likes Received:
    78
    Now he is being blamed before he is in office.

    Kind of tough to do anything about it considering someone else is in his office chair while all this is happening.
     
  4. JamieinNH

    JamieinNH
    Expand Collapse
    Banned

    Joined:
    Nov 4, 2005
    Messages:
    2,277
    Likes Received:
    0
    I was thinking the same thing. I didn't vote for him, but never the less he will be our next President.

    To me though, it looks like a bunch of people, some of them here on this forum are all ready to blame him for any and everything and they can't even wait until he gets in office.

    If 8 years ago people were doing this to Bush I could only imagine the cry's of wait and see...

    I don't know if Obama will be good or bad for this country, that still to be decided, but I do know that this country will continue even after Obama...

    BTW, why don't the archives hold any useful information? This is an example of how nice it would be to go back and see how this board and it's user responded to Bush being elected. Instead, people can post whatever they want knowing that it will disappear with time..
     
  5. JustChristian

    JustChristian
    Expand Collapse
    Banned

    Joined:
    Jun 12, 2007
    Messages:
    3,833
    Likes Received:
    0

    Do you realize that the DOW has gone down 50% in the last year? The depression has already started and it's the BUSH DEPRESSION.
     
  6. rbell

    rbell
    Expand Collapse
    Active Member

    Joined:
    Jan 16, 2006
    Messages:
    11,103
    Likes Received:
    0
    Of course. I forgot...we don't have a congress. Dear me, what was I thinking? I was thinking it was the Bush presidency AND the democratic leadership...but I forgot. It's just Bush. Not to mention...we voided the Constitution. Only the President has any effect on economics here.

    Thanks for the reminder.
     
  7. saturneptune

    saturneptune
    Expand Collapse
    Banned

    Joined:
    Jan 16, 2006
    Messages:
    13,977
    Likes Received:
    0
    There are posters on this board who do not understand issues, or the terms conservative and liberal. They merely make judgements by a party label, with no regard to what that person believes.

    It is one thing to criticize Obama for his liberal and socialist ideas of governing. It is quite another to blame him for this before he has entered the office. It shows a total inability to understand the reality of the situation, and be so blinded by party loyality, as to lose any ability to discern.

    It is beyond my belief someone could assign blame to someone not in office and give someone who has been there eight years a free pass.
     
  8. Martin

    Martin
    Expand Collapse
    Active Member

    Joined:
    Jan 1, 2005
    Messages:
    5,228
    Likes Received:
    0
    ==In case you have missed it, we are in a free fall. The market have lost over 500 points in the past 48 hours. I am not an economics person but even I understand what that means. The current crisis has nothing to do with Obama. He has not taken office and none of his policies are in place. In fact it is worth pointing out that this crisis has been years in the making and started long before Obama became the DNC candidate.

    Having said that, I do believe it is worth pointing out that the week of the election stocks seemed to rally a bit. The following week, as soon as the election was over, boom they fall again. I am starting to wonder if the 24 hour news media's constant coverage and promotion of fear/panic is making the situation worse. Think about it. The week of the election what was the media focused on? The election. They barely mentioned that stocks were up. As soon as the election was over they had to switch back to focusing on the stocks. What happened? Bust. I don't know if there really is any connection, but it is interesting.

    Another reason to end 24-hour news channels.:rolleyes:



    ==Maybe, but lets keep in mind that the government has no money. It is in the red. We are heading towards major economic trouble if that is not dealt with.


    ==A government power grab? What do you call the last eight (plus) years? I call it an extended power grab. It is just going to continue.
     
  9. Martin

    Martin
    Expand Collapse
    Active Member

    Joined:
    Jan 1, 2005
    Messages:
    5,228
    Likes Received:
    0
    ==That is exactly what many conservatives are doing. They complained when the liberals did it to Bush, but when the shoe is on the other foot they do the exact same thing. Shameful! I lost what little respect I had for Sean Hannity when I saw him try to connect Obama with the current economic problems.

    Like you I did not vote for Obama nor do I support many of his ideas. However it seems really unfair to accuse him of something he had no control over.
     
  10. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    Please read the OP again. Obama promised to raise taxes on corporations, on capital gains, and on small business. All I noted was that several market watchers had stated that if Obama signal a change in his plans to raise taxes it might help calm the market.:BangHead:
     
  11. Martin

    Martin
    Expand Collapse
    Active Member

    Joined:
    Jan 1, 2005
    Messages:
    5,228
    Likes Received:
    0
    ==If it was only that simple! If it was only that simple! I think the problems in our economy have gone too far for that to work.
     
  12. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    I have already suggested that our esteemed administrator reread the OP. I suggest that most of the other respondents do the same. I did not accuse Barak of anything. I merely ask a question based on comments of market watchers and several of you go ballistic.:tonofbricks:
     
  13. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    The following is a repeat of one statement from the OP for those who don't read carefully.
     
  14. windcatcher

    windcatcher
    Expand Collapse
    New Member

    Joined:
    Apr 28, 2007
    Messages:
    2,764
    Likes Received:
    0
    Contrary to what some may believe, and contrary to what some may accept, the current economy is not the responsibility of the now current president, the past president, nor the future president elect: It is the consequences reaped by most living in this generation....young and old, rich and poor, for neglecting our own budgets and our greed to reap that which we have not sown, and our failed duty as citizens to be informed of what was going on and our complacency in electing congressmen and senators who listened and accepted monies from the private bankers for winning campaignes.... and neglected their oversight, and participated in the ponzi scheme of pawning our future and the future of our children for a few more paltry dollars of debt for the pork barrel satisfaction of their constituents.

    Add to this, the same mentality of CEO's and the corporate policies which they are responsible for in the business and financial sectors, who expanded debt faster than money supply, who designed their ponzi schemes to get richer and wanted less regulation so they could capitalize upon the dreams of the unqualified and who are at this very moment reaping the rewards of a bailout designed to placate the foreign invester and feather the nest of principal dividend holders with distributions, while those of us who paid our taxes and lived within our budgets get lost in the devaluation of stocks, bonds, savings, equity holdings and our income, and the subsequent problem of excess inflation when demand exceeds supply and the monetary value drops faster than normal people can keep up.

    There is enough blame to go around and be shared by all. Pity though that this is the consequence of systems of govenment and business which we were taught to accept without question or teachings as to how to critically analyse, the very systems which promoted people to power who did not have our best interest at heart, who were not elected, and utilized their wealth and their power to gain controls of those very institutions..... most especially education..... where by we were taught to be satisfied with the assurances of promises, progress, and socialism and to be apathetic, unstudious, and trustingly dependant: We accepted that common sense was uncouth; that traditions don't count; that morals are relative; that government knows best; that people who have degrees and peer recognition are qualified authorities.... and that others with degrees and experience but are unpopular with their peers are always wrong; that the only god is the one you create within you; all change is good and doesn't need to reflect upon past experience; that life is unfair.... so you make it what it is and there are no absolute laws; that man evolved from animals and equality means animals have value as people; that the ecology of the earth is finite and man is the chief disrupter;......and the lies and the beliefs we've been 'educated'....um ....indoctrinated to believe and accept go on.


    There is one reason true believers in the LORD Jesus Christ will be persecuted in the last days: We are the ones who possess the true light which breaks the power of darkness and all its lies and attempts to replace God..... and our very lives will be a resistance to the perpetuations of demonic lies, mother earth worship, doctrines of demons and death, and extol the true freedoms and boldness which comes only from being possessed and controled by the Spirit of the Living God. There is nothing which satan wishes to replace more.... no belief or power which he desires to stamp out....no characteristics or qualities which he covets for himself than to be thought of and appear to be as God. God has already doomed him to judgement eternal..... and it is as good as done.... though it is not yet in our realization.

    As these difficult times approach, we should not be so concerned that 'it is the end' when we don't know how near or far that may be.... but be about Our Father's business even as our master, Jesus Christ, committed to us by instruction and example!
     
  15. JustChristian

    JustChristian
    Expand Collapse
    Banned

    Joined:
    Jun 12, 2007
    Messages:
    3,833
    Likes Received:
    0

    I think the best analogy is George Bush has played the 2008 version of Herbert Hoover to Obama's FDR.
     
  16. rbell

    rbell
    Expand Collapse
    Active Member

    Joined:
    Jan 16, 2006
    Messages:
    11,103
    Likes Received:
    0
    I think it's laughable to compare Obama presidentially to anyone, being as he hasn't taken his first action as President. And that goes for positive and negative comparisons.

    But then again, any way you can take a potshot at the one you hate...:BangHead:
     
  17. JamieinNH

    JamieinNH
    Expand Collapse
    Banned

    Joined:
    Nov 4, 2005
    Messages:
    2,277
    Likes Received:
    0
    Do you have any links to these market watchers and their comments based on what Obama can do now?
     
  18. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    I watch Fox News. Neil Cavuto is perhaps the smartest of the market watchers on that channel or for that matter any news channel.
     
    #18 OldRegular, Nov 20, 2008
    Last edited by a moderator: Nov 20, 2008
  19. OldRegular

    OldRegular
    Expand Collapse
    Well-Known Member

    Joined:
    Nov 21, 2004
    Messages:
    22,678
    Likes Received:
    53
    That would mean the depression would last until we get into another World War. But this time God will not be on our side because we have offered up 50 million babies on the altar of the god Narcissism.
     
  20. LeBuick

    LeBuick
    Expand Collapse
    New Member

    Joined:
    Jun 8, 2006
    Messages:
    11,537
    Likes Received:
    0
    It still hasn't matched the low from before he was elected... In fact, it was that low that got him in office.
     

Share This Page

Loading...