Posted on 03/07/2009 3:18:28 PM PST by Lorianne
In a 35-minute conversation with The New York Times aboard Air Force One on Friday, Mr. Obama reviewed the challenges to his young administration. The president said he could not assure Americans the economy would begin growing again this year. But he pledged that he would “get all the pillars in place for recovery this year” and urged Americans not to “stuff money in their mattresses.”
“I don’t think that people should be fearful about our future,” he said. “I don’t think that people should suddenly mistrust all of our financial institutions.”
You want Americans not to "stuff money in mattresses" and "not suddenly mistrust all of our financial institutions"?
Fine.
START LOCKING UP THE EMBEZZLERS AND THIEVES, MANY OF WHOM ARE YOUR CRONIES AND DONORS TO BOTH POLITICAL PARTIES.
Until you do that, anyone with half a brain in their head will head to The Mattresstm, because it is the only place where one can be certain their money is safe.
That's right. The FDIC isn't safe - Sheila Bair said so, and she is taxing the innocent (potentially to the point of ruin!) to fund the guilty. Specifically, she's increasing assessments on banks that did nothing wrong - including a special assessment high enough to severely damage or even wipe out their earnings. These are the local community banks that didn't make bad mortgages and liar loans, didn't write commercial mortgages on strip malls with unrealistic assumptions and didn't participate in the fraud of the last 20 years, but they are being intentionally damaged to bail out the guilty!
The Stock Market isn't safe, because not one of the public firms on the exchange has a balance sheet that can be trusted. Without a balance sheet that I can trust I have no way to know what a reasonable valuation might be. Ergo, I cannot figure out whether stocks are a buy, sell, or short. Never mind Stanford Financial, Madoff and the whole host of others who have been caught doing the same thing.
The Bond Market isn't safe, because the CDS market can be manipulated and thus there are now people who buy bonds intended to force the firms into default, rather than wanting to see them succeed. Therefore, I cannot buy bonds.
If you think that the market is collapsing because people are worried about "socialism", you're wrong. Yes, that's a concern, and yes, people are worried that you're going "hard left" - but there are winners in such a marketplace.
No, the market is being beaten to a pulp because you have inherited a financial system that has for the last twenty years, under both Democrats and Republicans, been comprised of one fraud after another, starting with "the Internet is growing 50% a quarter" and now winding up with "home prices never go down."
... more at site
Maybe those nice Greek ones from Barackopolis will suffice, Pres_ent Obama.
Oh wait, they're styrofoam.
Tell us, o wise one, where do you have YOUR money??? Knowing where YOU protect YOURS, that's where I want MINE..
He's one of the biggest EMBEZZLERS ever!!!! Of FREEDOM!
All the more reason to be fearful - this guy doesn't make any sense in anything he does. Whatever he says, do the opposite.
As an educated American citizen, I have never had trouble making money.
The hardest part of success in America is.keeping others from taking it once you earn it. (IRS, lawyers, city officials, grifters, charities, banks, everyone wants my money)
Kinda depends on what you (each individual) think your future should be, huh?
Please pick up the red phone.
Well Citi’s basically a penny stock now. So, there’s one.
Obama swears he will find the evil needles in the haystack.
His method is to burn the haystack.
Well, Islam has five pillars..., maybe we could use those?
“and urged Americans not to “stuff money in their mattresses.””
given the severe devaluation that the dollar may face not too far down the line, this is actually not bad advice. Stuff metals, perhaps?
Why do I keep getting the feeling that he throws out sentences like this in the hopes that people will wonder what he means and do just that?
I've never heard a President who sounds like he is backhandedly trying to start a panic until this guy came along.
LEt me see Chris Dodd, Barny Fwank , HArry Ried doing the perp walk done the Capital steps and you have have a START.
Otherwise
get ready for on e rough ride.
Remember when the Dems ridiculed Bush for his statement that Americans should go shopping as a way to address an impending recession or when Clinton criticized the American people for having the lowest savings rate in the world? Now Obama wants us to be profligate spenders and invest in the market. LOL.
Sharia mortgages? I can see that being peddled as part of the "answer." Not that they'd ever be called that in public, mind you. Too inflammatory for us yahoos.
I never heard of “bezzle” until today
Even if I know nothing I'm going to think--- "Hmmmmm I better stuff some money in my mattress"
Moron 0bammy just got millions of people very interested in hedging their bets in their mattress
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