Where is the US economy headed?

Without consumer confidence, the economy will continue to decline--even if Obama can walk on water--Note the latest report-

Rasmussen Consumer Index
Consumer, Investor Confidence Again Fall to Record Lows
Monday, February 23, 2009
The Rasmussen Consumer Index, which measures consumer confidence on a daily basis, fell two points on Monday to 55.5. That’s the lowest level of confidence ever recorded in the seven-year history of the Consumer Index, and the fourth time a new low has been set this month.

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Re: roger (Post 3581334)
Roger--Fear causes people to withhold investment--to stop buying big ticket items--to cut back. You know, of course,that the economy is driven by the consumer. They have been frightened by Obama! Now,he must show them that there is no reason to fear>
He won't be able to do that. His pronouncements have caused the Stock Market to keep going down, down,down.

In the fine book about the Depression, "The Forgotten Man"-Amity Shlaes wrote:

"businesses decided to wait Roosevelt out, hold on to their cash and invest in future years, yet Roosevelt retaliated by introducing a tax--The Undistributed Profits Tax--to squeeze the money out of them--Such forays PREVENTED recovery and took the country into the DEPRESSION WITHIN THE DEPRESSION OF 1936 AND 1937."

Good leaders do not make their people fearful!

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@roger,

roger wrote:

cicerone imposter wrote:

Obama did not develop this "plan" by himself. He had some of the best minds in the country to help him.

My mistake. I thought it was written by congress.

LOL!!!!!

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@genoves,

People aren't stupid, genoves. The people that make this country work, they have no confidence in Obama right now. The man is a mystery, a contradiction, a problem. He is not a leader that we can trust. Period.

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@okie,

okie wrote:

People aren't stupid, genoves. The people that make this country work, they have no confidence in Obama right now. The man is a mystery, a contradiction, a problem. He is not a leader that we can trust. Period.

Do you count yourself as one of the 'people who make this country work?'

Cycloptichorn

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@Cycloptichorn,

Who can trust a man who tells us his administration and everything they do will be transparent in the first month? Must be some kind of new form of government - in this world.

okie, as usual, has his head in his arse. He loves presidents like Bush who was one of the most secretive in our history, and never admitted making a mistake.

Oh, wait, Obama already did that in his first month in office.

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@cicerone imposter,

cicerone imposter wrote:

Who can trust a man who tells us his administration and everything they do will be transparent in the first month? Must be some kind of new form of government - in this world.

okie, as usual, has his head in his arse. He loves presidents like Bush who was one of the most secretive in our history, and never admitted making a mistake.

Oh, wait, Obama already did that in his first month in office.

I like how Obama has removed much of the budget trickery that Bush and others employed to make deficits look smaller.

Cycloptichorn

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@Cycloptichorn,

Especially on the funding of the war in Iraq and Afghanistan. That was not included in the annual budget.

The biggest problem was that the democrats promised to end the war in Iraq, but continued to fund it with their votes. Talk about hypocrisy.

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Cyclops wrote:

I like how Obama has removed much of the budget trickery that Bush and others employed to make deficits look smaller.

I will be watching to see how Obama floats his budget in 2010 and 2011. If you think that the Bush deficits. After Obama spends his TWO TRILLION DOLLARS, I will be eager to see his deficits.

Maybe his deficits will be meaningless if the stock market keeps declining as it has since Jan. 1st. Deficits won't mean very much if there is almost no wealth left in the market.

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@genoves,

genoves wrote:

Cyclops wrote:

I like how Obama has removed much of the budget trickery that Bush and others employed to make deficits look smaller.

Yeah, I love Obama's removal of all trickery, such as his claim of all the jobs he will create (or save). I liked how he slips in that little term, "save," don't you, cyclops? I guess that could be everybody's job, anybody that has a job, Obama could be saving our job even when we don't know it? Isn't that wonderful? This guy is so wonderful, isn't he?

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@Cycloptichorn,

I agree, it is a great idea and I welcome this change.

Now, I wonder if this includes taking out the SS income dedicated for the trust fund, from the general budget. I know Clinton added it in, but it really needs to be removed as well.

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@maporsche,

maporsche wrote:

I agree, it is a great idea and I welcome this change.

Now, I wonder if this includes taking out the SS income dedicated for the trust fund, from the general budget. I know Clinton added it in, but it really needs to be removed as well.

I agree, and I would pressure him to do this as well.

Cycloptichorn

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@Cycloptichorn,

Does it really matter, cyclops? Now we project deficits approaching 2 trillion. Thats 2 trillion deficit, not national debt, cyclops.

This man is an absolute joke. How long will the folks continue to drink Obama's koolaid, simply because his name is Obama, he made a speech, and he won the election. Thats it. Nothing else. Now we are going to let this guy run the country into the ground?

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@okie,

How does this relate to previous deficits using the new calculation that Obama's using?

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@okie,

People will drink koolaide over poison water; many are losing their jobs and homes - and their health insurance. You have no idea the misery created by Bush junior's poison.

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@okie,

okie wrote:

Does it really matter, cyclops? Now we project deficits approaching 2 trillion. Thats 2 trillion deficit, not national debt, cyclops.

This man is an absolute joke. How long will the folks continue to drink Obama's koolaid, simply because his name is Obama, he made a speech, and he won the election. Thats it. Nothing else. Now we are going to let this guy run the country into the ground?

We had deficits of 800-900 billion EVERY YEAR under Bush, so what you describe is not some shocking number, given the financial downturn and the monies we have been forced to use to save the banks.

Cycloptichorn

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cYCLOPS WROTE:

We had deficits of 800-900 billion EVERY YEAR under Bush, so what you describe is not some shocking number, given the financial downturn and the monies we have been forced to use to save the banks.

END OF QUOTE-

I have never seen any source that said that there were deficits of 800-900 Billon EVERY YEAR under Bush. Do you have a link or are you just flatulating?

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@Cycloptichorn,

Yes, I do. I have been an entrepreneur in my life. I met a payroll-- 0f 73 people.

You, on the other hand, sit in an office in the Ivory Tower of Berkeley where everyone thinks the same-hates the USA--looks forward to a Socialistic state--and most of all, and most revealing of all, looks forward to a society where the people that run it are the far left wing professors who know oh so much more than the evil and greedy CEO's.

Irving Kristol put it best---"Some professors and faux intellectuals will be ( as they have been) restive in a bourgeois-capitalist society..They feel that such a society DEPRIVES THEM OF THE STATUS THAT THEY FEEL ENTITLED TO."

That kind of envy is what drives you, Cyclops..not matter how much you protest that it does not.

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@okie,

Okie-Note that the American Public is not fooled--and this only a little more than a month after Obama's election!! Everyone who has followed politics knows that The first Hundred Days gives a new president good ratings, But look at the following:

Confidence in Stimulus Plan Drops Over Past Week
Tuesday, February 24, 2009 Email to a FriendAdvertisement
Confidence in the $787-billion economic stimulus plan has fallen four points in the week since President Obama signed it into law, and more voters are prepared to punish their representatives who voted for the bill .Eight percent (8%) are undecided.

A week ago, 38% of voters said the plan will help the economy, while 29% said it will hurt.

******************************************************************

Okie- the section that caught my eye was the part that said-
More voters are prepared to punish their representati ves who voted for the bill.

Perhaps, Okie, the election of 2010 will mirror the election of 1994 where Clinton was blindsided and rendered largely impotent by the Republican Renaissance.

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@genoves,

genoves wrote:

Perhaps, Okie, the election of 2010 will mirror the election of 1994 where Clinton was blindsided and rendered largely impotent by the Republican Renaissance.

I hope its a bloodbath to sweep these clowns out of office. But I am not optimistic at this point, yet, genoves.

1 Reply

Where is the US economy headed?

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