Where is the US economy headed?

@Advocate,

Yeah, interesting take on Asia. Sorta mirrors mine.

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@cicerone imposter,

c.i. :

the school featured in the report re. chinesee language classes had mainly (how do i put that correctly PC ? <GRIN> ) "white faces" - perhaps they were deliberately chosen .
some parents were also interviewd and seemed to be in favour of chinese language classes for their "white face" kids . parents spoke of "business opportunities" in future years .
hbg

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@hamburger,

From what I've seen of language schools around here, there are a mix of Asians and Caucasians in our area.

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Geithner, the tax cheat, can't even staff his department, let alone fix what needs to be fixed. Where is the leadership? Where is Obama? Congress writes all the bills. Meanwhile, Geithner is lost.

http://www.politico.com/news/stories/0309/19723.html

"The staff is so faceless that lobbyists have begun trading jokes about a “ghost” bureaucracy, given the many empty picture frames hanging on the department’s walls. "

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@okie,

Quote:

Most of the people who have been tapped to fill the top positions are already working in the building; they just don’t have their titles, their offices and their portraits yet.

From your article.

Cycloptichorn

1 Reply

http://www.balloon-juice.com/wp-content/uploads/2009/03/four-bears-large.gif

Cycloptichorn

1 Reply

@Cycloptichorn,

Cycloptichorn wrote:

Quote:

Most of the people who have been tapped to fill the top positions are already working in the building; they just don’t have their titles, their offices and their portraits yet.

From your article.

Cycloptichorn

Well then, if that is true then the situation is positively scary isn't it? The line you excerpted is followed shortly with this:

Quote:

"The fundamental, major problem for Tim Geithner is that there aren’t a couple of people under him who can help pick up the slack and talk to people in the markets and international folks,” said Peter Madigan, a former deputy assistant secretary for legislative affairs at Treasury during the Reagan Administration.

“The house is on fire and you’ve got one guy with the hose,” he added.

Looks like they need to be looking elsewhere other than in the building for people to fill those top posts. The problem is, nobody with qualifications seems to want to work for Geithner.

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@Foxfyre,

Well, I'm no fan of Geithner personally.

But; a larger part of the problem is finding people with experience, who weren't responsible for the problem!

Cycloptichorn

1 Reply

@Cycloptichorn,

Aren't the ones who are responsible for the problem the only ones who understand it?

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Now Warren Buffet, a supporter of Obama, is criticizing Obama's handling of affairs. Maybe he is now losing money? That is usually what finally wakes people up to the reality of the situation.

http://slate.msn.com/blogs/blogs/kausfiles/archive/2009/03/09/obama-buffetted.aspx

He criticizes the stupid "card check" issue, "stupid" is my term, which it is a monumentally stupid proposal, and he also criticizes other things like Obama throwing corporate jets under the bus, among other things.

Interesting, not much coverage on this, but Rush talks about it.

Obama is supposed to be so skilled, and Hillary the pick of the century, she can't even get the translation correct for a gift during her visit to Russia, among other gafs. If this was the Bush administration, we would be hearing about how dumb they are.

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@okie,

Buffett actually sounded a little desperate. On one hand he admitted that he voted for Obama and supports him and defends his policies while he spent--what was it - two hours or three hours - berating Obama policies yesterday? He says on one hand that the army has one general but then went on to suggest that everybody shouldn't necessarily agree with the general or follow him off the cliff.

It was a strange presentation.

1 Reply

@okie,

okie wrote:

Interesting, not much coverage on this, but Rush talks about it.

Well, then it must be important, right Laughing

That guy really does have your party by the balls.

Cycloptichorn

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@Foxfyre,

Very strange, in that he points out numerous reasons why the administration if goofing up, badly, then says to support it. How dumb is that?

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@okie,

More than that he says he likes Obama's ideas and then proceeded to trash them. The only nice thing he could think of to say about him is that he has a nice family. Smile

I think some of these guys can't bring themselves to admit they were wrong about Obama. Obama is definitely governing much MUCH differently than he campaigned, and if he had known that was the way it was going to be, there is no way in hell a Warren Buffett would have voted for President Obama.

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@okie,

Just a thought, maybe Buffet is feeling left out, he would like to have a say in policy, rather than leave it all up to George Soros? Rich guys can be jealous too. Even after they have more than they ever need, it is never enough. They want to have some say for their money.

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@okie,

No, I just think somebody doesn't get to Warren Buffet's status by being wrong about financial stuff a lot, and, he probably isn't much different than the rest of us. Eating crow is tough and it isn't always easy to admit that you are wrong about something you were supposed be really savvy about.

The media is picking up on it though--some glossing over Buffett's criticisms, but they are reporting it:

Quote:

CNBC's Kernen: 'You Might Not Have Fixed Global Warming' After D-Day

'Oracle of Omaha' Warren Buffett agrees, says job 1, 2 and 3 must be the 'economic war.'

By Julia A. Seymour
Business & Media Institute
3/9/2009 12:24:04 PM

The U.S. is at war with the failing economy, according to Warren Buffett, who told CNBC viewers that it had “fallen off a cliff.”

In September 2008, Buffett compared the market turmoil to “an economic Pearl Harbor,” and on March 9 he returned to that metaphor in a CNBC interview that began at 6 a.m. and continued through the 7 and 8 a.m. program hours. Buffett also criticized the Democratic majority for losing focus and trying to move on “pet projects.”

“If you’re in a war, and we really are in an economic war, there’s a obligation to the majority to behave in ways to not go around inflaming the minority. If on Dec. 8, or maybe it was Dec. 7, when Roosevelt convened Congress to vote on the war. He didn’t say, ‘I’m throwing in about ten of my pet projects,’” Buffett said.

Taking aim at one such issue, interviewer Joe Kernen replied: “You might not have fixed global warming the day after " the day after D-Day, Warren.”

“Absolutely,” Buffett declared. He also told Kernen that the Republicans should provide general support for the administration, but that the Democrats should not be pushing “contentious” policies that are not related to solving the nation’s economic woes.

“Job one is to win the economic war. Job two is to win the economic war and Job 3,” Buffett said. “And you can’t expect people to unite behind you if you’re trying to jam a whole bunch of things down their throats. So I would absolutely say, for the interim until we get this one solved, I would not be pushing a lot of things that, that you know are contentious.”

Buffett’s remarks came as prominent global warming “skeptics” gathered in New York for the International Conference on Climate Change, and just a week and a half after President Obama asked Congress to send him a cap-and-trade bill and released a budget counting on revenue from cap-and-trade to pay for a tax credit.

Buffett, a liberal populist, has curiously become the darling of the media " particularly the NBC family of networks " in a time when businessmen are often attacked in the press. In October 2008, he was interviewed by former “NBC Nightly News” anchor Tom Brokaw and made the outrageous claim the rich don’t pay enough in taxes. The much-adored Buffett was scheduled to make an unprecedented three appearances on CNBC on Dec. 11, 2007.
http://www.businessandmedia.org/articles/2009/20090309121612.aspx

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@Foxfyre,

Foxfyre, what I don't understand, this last election was not hard to figure out, how could so many people have been so wrong about Obama? It isn't as if the information was not readily available.

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@Cycloptichorn,

What the conservatives seem to miss are the simple interpretations of job losses on the graph you posted; we're now in the 17th month, and these same conservatives want Obama to show improvement with only two months in office.

They've all lost their frek'n minds! How does one discuss anything with people who can't see the obvious? Then ask for the impossible from the new president.

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@okie,

Half the country loathed George W. Bush and even many on the right were disgusted with a feckless, left leaning GOP who lacked the balls to stand on principle. John McCain simply lacked the charisma to be appealing and our side has never been as good at demonizing people as the other side.

Obama looks good and talks good and was saying stuff a lot of people liked. Apparently there was little or no conviction or integrity behind the words because so many of them were thrown under the bus on inaugeration day, but they sounded real good at the time.

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@Foxfyre,

It wasn't McCain's charisma that was lacking; it was his poor judgment that did him in. Palin and joe the plumber were big mistakes; it shows he doesn't have the right stuff to become president; he does things that he thinks sells politically.

1 Reply

Where is the US economy headed?

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