The Obama Economy

Wall St. Journal ^ | 3/3/09 | WSJ Masthead

[grayhog]

As the Dow keeps dropping, the President is running out of people to blame.

As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem. Americans have

[SoFloFreeper]

This type of journalism needs to gain a stronger voice in the coming days.

BHO’s “approach” isn’t a “new” discovery, though. Just the exposure of it.

[ROLF of the HILL COUNTRY]

Please do that at the Capitol, if you do!

[Beagle8U]

“Why would they care? We pay for their cigarettes. They don't get food stamps anymore. They get ‘everything paid in advance ‘ debit cards. (Food stamps hurt their self esteem.)”

They can't buy tobacco with the debit cards. They will buy food to resell, selling drugs or favors to buy smokes.

Tobacco taxes only work because people can't quit, it's more addictive than heroin.

[depressed in 06]

You are both too optimistic. Who wants to invest in a communist economy without profits. Cash will inflate out of value. Gold will make you an enemy of the state. Food will make you a trained monkey.

[Nervous Tick]

>> Please do that at the Capitol, if you do!

(staffer): “Mr. Frank, there’s an elderly gentleman here to see you... he says he has a “toy” to show you that’ll just make your HEAD explode! Ooooh, wish it were me...”

heh heh

[AD from SpringBay]

One party rule - the policies in question are not just Obama’s.

[wbill]

The market isn't trading on what Obama has (or hasn't) done for his first 5 weeks in office....it's trading on what he says he's going to do.

The CEO of Duke Energy wrote a great letter (posted on FR last week) about what Obama's cap and trade proposal will do to electricity prices. They'll be up 25-40% in most areas. Only a fool would think that Duke is picking up the tab on that one....

[Reagan Man]

Its Obama's economy for sure. Now, when will Obama stop blaming Bush for all his troubles?

>>>>>... after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. ~snip~ Already 15 months old, the current recession will soon match the average length -- and average job loss -- of the last three postwar downturns.

Guess it matters who is doing the counting.

[bvw]

Stopping? The policies are REVERSING any recovery, not just stopping it. And not only reversing any recovery, the policies are POISONING THE GROUND so that no future recovery can occur, without major cleansing and reconditioning. What is the ground? The body of laws, the judicial cohorts, the bureaucracies and the education and educational resources of the next generations of the young.

[ROLF of the HILL COUNTRY]

" It will come back positively as all American economies do..."

Do you remember the lessons of the last depression? NO, the economy won't come back with the policies of the 0bamanation. Barry's policies will deepen and lengthen this depression (yes, I believe that's the correct term at this point) like Hoover and FDR before him!

If the blasted government had stayed out of the business of bailing out bankrupt mortgage companies,we wouldn't be in this mess. We would have still had a downturn, but not as deep, and we'd be starting to see signs of recovery at this point.

[diefree]

I’m with you.

[Osage Orange]

This isn't quite the same thing...as when Clinton was POTUS.

FWIW

[GonzoGOP]

I used to consider planning for my children's future to mean putting money aside for their educations. Well our Kenyan Overlord wiped those accounts out in 90 days. Now I consider planning for my children's future to involve deciding where to meet up when the riots start.

[tx_eggman]

Will Obama do anything substantive to help the economy?

Bronco Bomber is all cloud, no rain ...

[Wil H]

0bama’s actions are not incompetence, they are deliberate.

He is waging a “War on Prosperity” to subjugate the middle class just as Lyndon Johnson’s “War on Poverty” destroyed the Black community and increased dependence on the government.

Rahm Emanuel said that “you should never let a crisis go to waste” and that is exactly what he and 0bama are doing, they are using the recession to mercilessly advance their radical socialist agenda.

[tx_eggman]

What would happen if A huge entity in the U.S. was discovered, during a government audit, to be holding a large amount of gold bars and newly minted coins from China? What would happen if the price of Gold dropped due to the massive influx, say to about $700, and everyone jumped it to stake their claim........... but then the Gold turned out to be counterfeit?

What would happen if you stopped smoking crack?

[NCjim]

The only way that the unwashed masses would hear this would be from the alphabet networks. That will not happen unless corporate America pulls their advertising and hits them where it hurts. Sadly, I do not see the latter happening, which means that the only reporting we see of this is by the media that is preaching to us, the choir.

Pray for America.

[AlmaKing]

The media is dying, 1 newspaper at a time.

Then there will be licensing problems with stations who oppose his views on diversity and equal time.

[ding_dong_daddy_from_dumas]

cash is not only king, it is queen, jack, and ace.

Well, maybe not cash, exactly.

[CottonBall]

When that happens Bambi will become a notorious household name, never heard alone but always prefaced with “that sonofab___h Obama”. Along with Bawney Fwank and Cwiss Dodd.

I dunno if people are that smart. 75 years ago, before people were dumbed down, even they kept voting in Roosevelt even though he kept the depression going for a decade or more.