Where is the US economy headed?

@georgeob1,

I also wanted to respond to this, but forgot:

Quote:

The recent bankrupcy of Solyndra, the recipient of more than $500 million in government guaranteed loans (for which taxpayers will pick up the tab) is merely an illustration. Solyndra was part of the vanguard of the supposed new "Green Economy" that Van Jones was going to direct to favored parts of the population, and which the administration has helped financed, and it is only the latest in a series of bankrupcies among them. Given the fundamental economics of the energy industry this was an entirely predictable result. It takes a zealous doctrinaire progressive believer to predict success in nthe face of so much fact. Unfortunately for us all they have wasted too much of our money to be allowed to play with it any longer.

This is why I accuse you of parroting what you read in the right-wing media, George: this has been on their radar lately, and sure enough, it pops right up in your post as if it was an original idea of yours.

But - typically - your assertion that this company was hand-picked by Obama as a vanguard of the 'greed economy' flies in the face of reality. The truth is that the program that Solyndra applied for and was granted money under was a Bush administration creation. Solyndra applied for the loans in 2006 and was deemed 'ready to move forward' on them by the DoE in 2007.

Calling this a 'waste of money' by Obama is 100% false. But, it's no more false than your typical historical revisionism on matters economic.

http://www.grist.org/solar-power/2011-09-13-bush-admin-pushed-solyndra-loan-guarantee-for-two-years

Cycloptichorn

1 Reply

@hawkeye10,

hawkeye10 wrote:

Quote:
Yeah, this is nothing but the typical anti-intellectualism that I see coming from the right wing all the time.
Be ready to see it from the independents as well.....we have largely left the functioning of the nation up to the elites for some time, and they have made a hash of it, it is time for regular folk to take America back. We certainly cant do any worse!

Sorry Hawk, but you're a right-winger. Hate to break it to you. You only call yourself an independent b/c you are aware of how f'd up the right wing is. But practically every position you take is right-wing and Conservative.

Quote:

Did you notice that Perry, who certainly is no intellectual slouch

Are you serious? He most certainly IS an intellectual slouch! He can only give the most pat of answers on any complex question. I lived in Texas for years and am well familiar with the man, and at no point has he ever done anything that impressed anyone there with his intellectual prowess.

Cycloptichorn

2 Replies

@Cycloptichorn,

/from your own link...

Quote:

January 2009: In an effort to show it has done something to support renewable energy, the Bush administration tries to take Solyndra before a DOE credit review committee just one day before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE because it wasn't ready for conditional commitment.

March 2009: The same credit committee approves the strengthened loan application. The deal passes on to DOE's credit review board. Career staff (not political appointees) within the DOE issue a conditional commitment setting out terms for a guarantee.

So your own link says that the loan was granted under the OBAMA administration.

1 Reply

@mysteryman,

mysteryman wrote:

/from your own link...

Quote:
January 2009: In an effort to show it has done something to support renewable energy, the Bush administration tries to take Solyndra before a DOE credit review committee just one day before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE because it wasn't ready for conditional commitment.

March 2009: The same credit committee approves the strengthened loan application. The deal passes on to DOE's credit review board. Career staff (not political appointees) within the DOE issue a conditional commitment setting out terms for a guarantee.

So your own link says that the loan was granted under the OBAMA administration.

Sure, but that isn't material to the point I was making at all. The entire project was a Bush-era creation, and was hardly an example of Obama making some sort of foolish mistake with taxpayer money.

Not only that, but as you pointed out - which I appreciate, btw - it wasn't Obama's political appointees who green-lighted the loan, anyway.

But, I predict that the facts of the matter won't stop you bunch from trying to pin it on him anyway, because they never seem to have much of an effect upon your narratives.

Cycloptichorn

0 Replies

@Cycloptichorn,

Quote:

You aren't making a point at all, and you know it. Just trolling as usual.

There you go. Resort to insult when stuck.

You could put that response up for anything that it suited you to.

That you think it means something is your affair.

The topic is where is the US economy headed. A definition of "job" and one of "work" is far more significant to that subject than anything you've spouted on the thread. And by a very large margin.

0 Replies

@Cycloptichorn,

Quote:

I lived in Texas for years and am well familiar with the man, and at no point has he ever done anything that impressed anyone there with his intellectual prowess

I submit that you dont have a proper respect for winning. Is his life long record of success supposed to be luck?? Come on now, dont be such a rube...

1 Reply

@hawkeye10,

hawkeye10 wrote:

Quote:
I lived in Texas for years and am well familiar with the man, and at no point has he ever done anything that impressed anyone there with his intellectual prowess
I submit that you dont have a proper respect for winning. Is his life long record of success supposed to be luck?? Come on now, dont be such a rube...

Winning in TX as a Republican candidate?

Shocking!

Cycloptichorn

1 Reply

@Cycloptichorn,

Quote:

Winning in TX as a Republican candidate

There are lots of REPUBS in Texas, many whom have taken on Perry and lost. He also was successful as an Air Force Officer...

0 Replies

@Cycloptichorn,

Quote:

. I lived in Texas for years and am well familiar with the man,

Unless you know him personally, you cannot be "well familiar" with him.

Using your logic, I am "well familiar" with Jerry Brown, because I was born and raised in Ca.
Or, since I lived in the Phillipines for a few years, I guess that m eans that I am "well familiar" with Ferdinand Marcos.

Living in the same state as someone does not mean you are familiar with that person.

2 Replies

@mysteryman,

You're an ass - first class. "Familiar" only means "well known" through years of media exposure.

If you don't believe what he says, ask a specific question about the individual rather than questioning his knowledge about the man. Can you do that?

Most consider themselves familiar with god. Do they know him personally?

Like I said, you're an ass.

I'm familiar with my siblings. Do I know everything about them? No.

1 Reply

@mysteryman,

mysteryman wrote:

Quote:
. I lived in Texas for years and am well familiar with the man,

Unless you know him personally, you cannot be "well familiar" with him.

Using your logic, I am "well familiar" with Jerry Brown, because I was born and raised in Ca.

I have no problem with you saying that, as long as Brown was an active politician during that time.

Quote:

Living in the same state as someone does not mean you are familiar with that person.

I'm not familiar with him just b/c we lived in the same state, but because I have followed his political career since the days when he was a Democrat. I even shook his hand once at a fundraiser for Bush's election (in 2000, while my GF at the time was a volunteer for Bush), in a receiving line with about 2 thousand other people. He does have a nice handshake, I'll give him that.

I couldn't tell you the guy's favorite color, or who his favorite football team is. But I feel comfortable saying that I'm quite familiar with his politics.

Cycloptichorn

0 Replies

@cicerone imposter,

I don't think MM is a 'first-class ass,' he's a nice guy, he just disagrees with us on political stuff from time to time. He's actually quite respectful about it though.

Cycloptichorn

2 Replies

@Cycloptichorn,

That's damning with faint praise and an attempt to divide your opposition. An old trick. Thousands of years old.

0 Replies

@Cycloptichorn,

I'm not here to defend you; I'm here to state what I see are uncalled for from any poster. mm has a habit of accusing people of things that isn't of any import, and I'll call him on it.

1 Reply

Today is the 3rd anniversary of the collapse of Lehman Brothers. September 15, 2008. Lehman filed for bankruptcy after reporting huge losses in mortgage loans it held in its portfolio. Many more loans had been sold to investors and would quickly lose much - if not all - of their value.
The Dow lost 500 points (4.4%) on Sept 15th. That was followed on Sept 29th with a 7% tumble.
A couple of mega-banks provided liquidity at the behest of the Fed until it stepped in a couple of days later and tossed in almost $140Bn in what would become a flood of (government bailout?) money.
The coincidence is that today, September 15th, the U.S. Fed, the European Central Bank and several individual European countries central banks announced that they would offer "unlimited" loans to banks until the end of the year. The names of the banks will not be disclosed. They own large amounts of Greek debt and Greece will, in my mind, probably default on those bonds in October.
The question is this: why should governments in general and the U.S. in particular care about some European banks that are taking a hit just because Greece - which has a smaller economy than our state of Maryland - is likely to default? Why should the U.S. get involved in a bailout?

2 Replies

@realjohnboy,

Quote:

Why should the U.S. get involved in a bailout?

Now there's a complex question if ever there was one. You can bet your boots that if the US involves itself in a bailout the best brains in America think it is necessary.

1 Reply

@spendius,

Based on recent history, that is hardly a resounding endorsement.

0 Replies

@realjohnboy,

It's important to protect the banks and the value of the Euro. If all fails, the world economy will fall into a deep well that it will never recover from. Germany and France understand this all too well; their economy's survival is on the ropes.

0 Replies

Here in Washington State it was just announced that the Bi-Annual rev projections which were the basis for the last session (Feb-May 2011) , which were considered conservative, are off by $1.2 billion at current projections. This means that the state must go through another round of budget cutting in excess of 5%. It also goes to show how little consumers are spending, as our state does not have an income tax, as well as shows that the housing market has not come back any as was hoped. .

0 Replies

@cicerone imposter,

cicerone imposter wrote:

I'm not here to defend you; I'm here to state what I see are uncalled for from any poster

Mysteryman merely pointed out what he saw as an error in Cycloptichorn's post. That's not "uncalled for", whether MM's argument was correct or not. The only uncalled-for moment in this incident was your name calling.

1 Reply

Where is the US economy headed?

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