Obamba is not to blame. You need to start with Reagan (PPT
creation), continue to Bush I, then Clinton (Summers, GreenSpan,
Rubin), then Bush II (whom I can't blame, he was actually
pretty dumb, so the country was run behind his back -g-) for
creating this mess.
Now it blew up. It's not easily fixable. Yes, you can
get the Dow to 10,000,000,000,000, but other things will too
increase in price, and unemployment will stay high for some time.
One thing Obama did WRONG was to appoint the same democratic
economic team that ruined the country under Clinton. Naturally,
they could not do anything else but push more debt into the blown
up credit bubble that just won't go in.
One thing he did right was to listen to Volcker last week, and
that tanked the market. A year too late. Whether he does what
needs to be done to right the ship remains to be seen, it
requires political courage, but Volcker is a step in the
right direction. I have no clue if this first step will be followed
by more steps in the right direction, or we kinda turn
here and go the other way again. We HAVE to go thru some
rough waters in order to emerge strong. Take the red pill, as was
prescribed by the IMF to so many different countries that
screwed up over the years since WWII -g- |
