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Strategies & Market Trends : The coming US dollar crisis
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To: axial who wrote (19310)3/30/2009 3:22:15 PM
From: GST9 Recommendations  Read Replies (1) of 71455
 
<I suspect that most of the venom on this thread comes from politics - not a sense of fairness and balanced judgement about problems that will take years to resolve.>

Not from me -- I think very highly of Obama in the broadest sense -- but he has failed us on the economy, at least in terms of taking the banking bull by the horns. He seems more able to grasp the underlying issues that drive the disaster unfolding in Detroit. It is hard to blame him for being completely useless on the banking issues -- he does not seem to understand them. And he is loathe to take on the most powerful business lest in the world lest he find himself in a pine box -- either politically or literally.

Once again -- lets be clear about this -- the issue is not opposition from the American people. He is not listening to the American people on the banking issue because he thinks it is too difficult for people to have an informed opinion -- and to that we must say "right back at you". He will have few if any advisors whispering in his ear "let them go bankrupt and clean up the debris, they can't be 'saved' and trying to save them will only wreck your chances of a viable US economy for years to come". That would take a level of common sense and courage that is sorely lacking in Washington where, like it or not. powerful lobbies run the show. And they don't come much more powerful than banking and finance. When Obama sends a dozen silver platters to New York and asks that they be returned properly adorned by the heads of the major bankrupt firms that are sucking on the US taxpayers tit like black holes sucking in everything and allowing no light to escape, that will be the signal that he is ready to get serious.
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