Posted on 12/07/2008 7:28:17 AM PST by tobyhill
The economic recession will get significantly worse before it starts to improve, President-elect Barack Obama said in an interview broadcast Sunday, seeking to tamp down expectations that have risen as he prepares to assume the presidency in 44 days.
“If you look at the unemployment numbers ... the fragility of the financial system and the fact that it’s an international system,” the recession “is a big problem, and it’s going to get worse,” Obama told NBC News’ Tom Brokaw on Saturday. The interview aired Sunday on NBC’s “Meet the Press.”
Acknowledging that his agenda had changed sharply just in the month since he was elected, Obama said passing a short-term economic stimulus package was now his top priority.
(Excerpt) Read more at msnbc.msn.com ...
Conspiracy Theory Rant! Every four years there is a downturn in the economy for the Presidential Election and that’s just how things are. The other thing is that all economies go through cycles and this was a fragile time with both coinciding at this election.
But the final straw was the Democrats conspired with the Saudis to run oil prices through the roof and crash our economy. All of this was done to blame the Republicans by convincing the people that they are the only ones who own oil stock and control it completely. Blame the Republicans for your $4.50 gas prices! That influenced the economy then the election and has now caused a recession that they thought they could recall with $1.35 gas prices. I was wrong about one thing, I predicted that gas would be $2.00 a gallon after the election to stabilize the economy and to bring it back up for “The One” to start out with. Well it’s down to $1.35 and still isn’t stable............
“Are you implying 53% of Americans are dumber than a box of rocks?”
Box of rocks? No. Bag of hammers? Quite possibly.
I thought the “Green Industry” was the backbone to our manufacturing?
Hey wait! What about all the Free Stuff? Now he’s offering Blood, Sweat and Tears (and not the band). WTF!
While I hae never done it, I believe managing a Dairy Queen profitably requires talent and hard work. My guess is most of our DC clowns would fall a bit short in both categories.
And Oceans, too. I thought Obama’s nomination market the point where they were going to start falling. I fervently hope to God that plan is on schedule and not derailed by a small blip in the economy.
I’ve been getting a good laugh out of WCBS 88 in NY. They have taken to explaining how “complex” the “new” economy is. This economy is so new only Obozo has ever faced it. They have played clips of Dems and Dem apologists guessing that it may take “6 years” to turn it around.
Barry also said today “The days of pork are over”
I say, that sounds like something a muslim would say.
The Marxist Onada has discovered that stuffing this genie of a bad economy the demrats have created back into the lamp is out of his control. Soros and all those demrat CEOs who sabotaged both the American and World economies can no longer control what’s happening.
With all the jibberish that’s passing as financial reporting these days individual investors are making their own decisions. These decisions are driven by the election of America’s first Marxist president. Specifically, people like me are concerned about how to protect their money assets from a president who has clearly stated that success in accumulating almost any amount of money will be punished through taxation. The Marxist Onada plans to steal (redistribute) my hard earned money and hand it out to people who have not earned it, contribute nothing that is visible for their own welfare and (for the most part) lead disfunctional lives.
I foresee a point in time not too far off when our Marxist government will, for all practical purposes, control the stock market. His already stated desire for the government to take over management of IRAs is only the first step. Moreover, if one chooses not to participate in the government controlled stock market one will pay a significant withdrawl tax.
So, if you’re gonna do something to protect yourself from your avaricious Marxist government you’d better do it before it’s too late.
He ran on a rainbow postered mantra of Change, and change we can believe in, making our country great, all high hopes and expectations of great things to come (cue sappy music). Now, he’s racing, even from Nov 5th, to hurry and warn us, constantly urging us to lower our expectations. Worse before it gets better, long term, almost like he’s already campaigning for re-election now, so he can ‘finish’ his great work in a second term. All talk, where’s the substance, the plan? (I know, it’s coming...)
Somewhere in the afterlife, snake oil and tonic salesman from the late 1800's/early 1900's are kicking themselves, fuming over their loss, this fresh batch of sheep they didn't get to shear...
Only about 1/3 of rocks are ignorant. The other 2/3 are either metamorphic or sentimental.
When shall we see the seas part?
No No, Allen Iverson is THE ANSWER. Obama is THE FRAUD. I thought with Obama everything was supposed to be Ok, candy yummies would fall out of the sky, cancer and Aids would be cured, what the heck happened. Ya mean this guy is a false prophet..damn, who knew
Even as sarcasm, your post is an insult to boxes of rocks everywhere. ;-)
Fewer than 68% of eligible voters are in the labor force. After accounting for all taxes and all entitlements, less than half of eligible voters in the labor force bear any appreciable tax burden for the cost and size of government.
Therefore, more than 66% of eligible voters will not see an increase in their taxes and depending upon their positions in the various entitlement Ponzi schemes, may actually perceive an immediate, short term, payoff for expansion of the size of government.
However, for these voters, the box of rocks score higher on the IQ test because there is an outside chance the box of rocks may perceive the folly of voting for Obama, something the 53% who voted for him can never understand.
Total government spending (federal, state, and local) is now greater than 35% of GDP and total government debt is at least 5.5 times (and may be as high as 10 times if "off the books" spending and future entitlements are properly accounted) the total assets of the United States. Continuing increases in either is going to result in dramatic and immediate reductions to our GDP.
The only hope for our economy is immediate and massive reductions, not increases, of government expenditures at all levels.
That is a reality that Obama, Pelosi, Reid, and the 53% of voters who supported them are incapable of comprehending.
Bush was supposed to be dumber than a box of rocks. And now Obama is admitting the economy will get worse under his leadership. So what does that make him? Dumber than a sack full of dust?
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