Posted on 04/18/2009 6:54:32 AM PDT by SonOfDarkSkies
As he battles the economic downturn, President Barack Obama is bracing Americans for a recovery different than any in recent memory – not a go-go return to prosperity like the 1990s but a slow, steady climb to stability.
“We know that an economy built on reckless speculation, inflated home prices, and maxed-out credit cards does not create lasting wealth. It creates the illusion of prosperity, and it’s endangered us all,” Obama said recently.
But what Obama rarely says about ending the “cycle of bubble and bust” is this: he’s prepared to intervene to make sure that kind of red-hot growth doesn’t occur.
And he’s willing to do it with added government regulation if needed to prevent any one sector of the economy from getting out of balance – the way the dot-com boom did in the 1990s and the real-estate market did earlier this decade.
According to Austan Goolsbee, a key Obama economic adviser, the president plans to focus on stopping bubbles along with preventing busts. And in an interview with POLITICO, Goolsbee said the administration will be on the lookout for new bubbles, like the tech stocks or housing prices.
If new threats are spotted, he said Obama would use “regulatory oversight to prevent guys who want to make a quick buck from doing real harm to the economy. . .That is what it means to get out of the bubble and bust cycle.”
(Excerpt) Read more at politico.com ...
Managed Capitolism?
Yep, he’s going for total control of every aspect of life - this is not the American way. I hope the hope and change crowd who didn’t ask what BO planned to change to are happy with statism.
Good luck with that, Zero.
Apparently, these morons didn’t get a clue out of the tea parties. The American people aren’t happy campers and will not take to Socialism.
Managed Economy = Socialist Economy
“NOW IS NOT THE TIME FOR PROFITS”
And for Hussein - it never will be.
Thought this was one of yours at first...
Of course he would.
He will bang his staff on the ground and make it so. The grandiosity of this man never ceases to amaze me.
Mission accomplished. Statement made. Task accomplished. We can kiss boom and bust cycles good-bye.
Remember when Obama promised to "call out" wasteful spending? Yes, Obama will "call out" wasteful spending, anywhere in the country, and wasteful spending will be stopped.
It takes a Harvard education to get this stupid.
How about the big government bubble? Government, now approaching 50% of the economy, is growing faster than inflation and population growth and is not sustainable. When government bubbles pop, the misery lasts generations.
If I want to invest in a bubble, whether it be dot com stocks, real estate, or freakin’ tulips, it is my business.
The problem is that the investor class has grown so large, so swiftly, that these people have no idea how the market works.
So, rather than hold these people accountable and responsible, Obama thinks he can control the marketplace. Doesn’t he realize the marketplace will simply move to a palce where it is not regulated in such a way.
Boom and bust are the ways of the market. It is greater than obama. It is greater than all of us.
From the man who has never run a business not even a lemonade stand
You win dufus statement of the day!!!
what a piece of work.....
“We know that an economy built on reckless speculation, inflated home prices, and maxed-out credit cards does not create lasting wealth. It creates the illusion of prosperity, and it’s endangered us all,”
WHAT CRAP!
Here the overlord is going to inject inflation and taxes like never seen before through his proposed debt which is to be higher than that of the combined presidents? The above quote is only reckless government double talking...
ULTIMATELY this will cause many problems inclusive of debasing the dollar.
We could start regulating the amount of air available for breathing.........
profits are biblical, bambi, people don’t run business for fun
And the funny thing about bubbles is that they are only recognizable in the rear view mirror.
Don't say that too loudly...Obama will try to cap and trade f@rts!
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