Nero Fiddled While Rome Burned

http://en.wikipedia.org/wiki/Nero

 

Better hang on tight mateys, there's a rogue wave bearing down on us at warp speed!!!raying:

 

No we can't assume that. This problem was caused by the Bush administration and Obama is trying to get us out of it. We were already in a crisis situation and had enacted one huge nailout bill before Obama became President.

 

Those of us who criticized Bush for leaving conservative principles are being consistent.

We didn't like it when Bush broke the budget, and we don't like it when Obama becomes Bush on steriods.

If Bush was such a failure, as you continually point out, why do you think Obama is going to have success doing the same thing that Bush did?

The Obama administration is like having a third term for George Bush when it comes to economic policy, only worse.

peace to youraying:

 

Is it just me, or has anyone else noticed how each new presidency seems to have a crisis occur... either at its end or at its beginning?

And each crisis seems to add permission and strength to the office which is more than the one who served before....... or is that my imagination?

And each crisis can appear like a social experiement upon the populace to measure how we react or respond?

 

Obama will be successful (I hope) because he is a leader and Bush was not. He also understands the issues and Bush did not.

 

If Obama is such a great leader, why has the stock market lost 20% of it's value since he took office? Because business owners and investors do not have confidence in his ability to lead anywhere that is productive.

If Obama understands the issues so well, why does he support abortion?

If Obama understands the issues so well, why didn't he support the surge that has now proven to be successful?

If Obama understands the issues so well, why did he publicly announce his intention to dismantle the strategic defense inititive ("Star Wars"), and then try to use SDI as leverage toward Russian to limit nukes in Iran?

The Russians laughed at him and scolded him like a child.

The truth is, he isn't a great leader (or anything else for that matter), and he doesn't understand the issues very well.

It is amatuer hour in the White House and the country is going to pay for it.

peace to youraying:

 

Neither understand the issues. They do not understand the free market and the real causes of the problem.

 

The problem is that the bust in the business cycle happens in one administration from the boom in the previous. Politicians do not understand the business cycle and the cause of it. Most Presidents get the blame for recessions, yet the seeds for the recessions get planted years before. However, there definitely is plenty of blame to go around, and not one President in recent history has a proper understanding of the cause of the business cycle and how to act properly, because to do so is not popular.

The tech bubble during the Clinton administration caused the recession when Bush took office. Bush did not handle it correctly and tried to avoid it through deficit spending and lower interest rates.

The lower interest rates caused the housing bubble during the Bush administration. The housing bubble eventually had to collapse.

Both the Bush administration and the Obama administration misunderstand the situation and reacted incorrectly. The Obama administration is trying to avoid the housing recession just as Bush tried to avoid the tech recession with deficit spending and lower interest rates.

The current demand for dollars and deleveraging is creating the current dollar bubble. When all the inflation caused by the deficit spending quenches the dollar demand, there will be a major run on the dollar. The dollar bubble may burst during Obama's administration or the next administration.

We are running out of bubbles to inflate. A currency bubble is the last available bubble to inflate. After that, say "goodbye" to the U.S. dollar hegemony and world power status.

 

Finally, someone who is consistent! I am sick of all the party loyalty. For the most part they are both corrupt to the core and both have the same economic policy: irresponsible spending. Democrats want to do it through demand-side deficit spending and taxation; Republicans want to do it through supply-side deficit spending and borrowing.

 

I agree with that; however, if you are trying to be a good partisan and completely exclude Bush and all Republicans from the problem, you have another thing coming. Bush did not respond properly to the bursting of the tech stock bubble, and the tag team of Bush and Greenspan with deficit spending and rock bottom interest rates added fuel to the fire. What do people do when interest rates are artificially low? They buy expensive items (like houses and cars), because they do not want to miss the opportunity.

Remember, do your patriotic duty and spend yourself into debt. Consumer spending drives the economy.

 

So...tax increases, messing with the mortgage deduction during a housing crisis, and undertaking a catastrophically expensive healthcare overhaul on during a recession...that is "understanding the issues?"

Give me a break. Obama is in over his head.

Jim Cramer of CNBC's "mad money" (no arch-conservative) says of Obama:

(SOURCE)

 

Obama isn't fiddling - he's throwing gas on the fire.

 

Recessions are part of our economic cycle. They will come regardless of what is done. The extent of the recessions is increased by mishandling it. Trying to avoid recessions is a mistake.

 

Ain't that the truth?!

Again the truth!