Quote:
Originally Posted by dc_dux
Right...Obama is alone in that assessment?
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No doubt the economy is doing badly, however President Obama, as our newly elected President on a massive wave of hope and optimism, had an opportunity to help the nation focus on what is good and what is working in our economy through words alone. That is not to say that you can not work on "fixes", but President Obama words are not in the tradition of exceptional leaders like FDR, Churchill, Reagan or even a leader like MLK - who spoke about the need for change in a manner that motivated people to respond to the opportunity of making a great nation greater. It is not easy for any leader to live up to the standards set by our greatest leaders, but it is sad that President Obama has missed his first opportunity for greatness. If you have any clout in Washington, sincerely, tell the folks to stop being so negative, people outside the beltway are ready to turn the corner, focus on the future and achieve our next round of greatness.
P.S. - Don't worry I'll go back to being an a$$ tomorrow.
-----Added 12/2/2009 at 04 : 58 : 48-----
Quote:
Originally Posted by dippin
Now, this is only looking at the employment data. If we couple that to the monetary policy data, we see how we are in such a deep mess. 1981 came about when Volcker really stepped on the breaks, significantly raising interest rates in order to reign in inflation. Once inflation was under control, it was a matter of lowering interest rates and things improved.
Currently, we are already at the dreaded liquidity trap. There is no interest rate to cut to create the rebound...
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Anecdotal - I own a business and after Obama's win in November, his rhetoric combined with the Democrats in Congress caused my moral as a business owner go to an all time low. I started asking myself the question - what is the point? I have updated my resume and I would even work for the government. I feel that under the current climate if I excel, I won't reap the rewards of years of sacrifice and hard work and I can simply find a 9 to 5 job with a few weeks vacation each year, a retirement plan of some type and health care. I have not been putting effort into growing my business. If I am unique, so be it. If I am one of thousands or millions, it is having an impact on the economy and more specifically jobs. In my view that explains the deep accelerating decline in employment in the past 3 months.