Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (462132)	3/9/2009 11:15:48 AM
From: i-node	Read Replies (2) \| Respond to of 1575725

So here’s the picture that scares me: It’s September 2009, the unemployment rate has passed 9 percent, and despite the early round of stimulus spending it’s still headed up. Mr. Obama finally concedes that a bigger stimulus is needed. But he can’t get his new plan through Congress because approval for his economic policies has plummeted, partly because his policies are seen to have failed, partly because job-creation policies are conflated in the public mind with deeply unpopular bank bailouts. And as a result, the recession rages on, unchecked. This isn't why he won't be able to get it through. The problem is the public will say, "We just spent a trillion on so-called "stimulus" and now we're only deeper in debt and in a deeper hole. What's the problem? Does stimulus work at all?" The answer, of course, is that there is no evidence that massive spending such as this will stop a Depression. It doesn't matter how many times you blame it on the previous administration, either. Socialists are experts at seeing causation where merely correlation exists (as in the way the Depression ended after WWII spending began, therefore, spending ends depressions). There is considerable evidence that New Deal program PROLONGED the Great Depression yet Obama is headed down the same path -- big programs that hinder, not help, in getting people back to work. I fear we're destined to live through 10 or more years of a destitute economy, largely because of what has happened in the past few weeks. And this idiot, Krugman, wants to do more of it?

To: Road Walker who wrote (462132)	3/9/2009 12:35:26 PM
From: tejek	Read Replies (1) \| Respond to of 1575725

On the first two questions, I found Mr. Obama’s latest interview with The Times anything but reassuring. “Our belief and expectation is that we will get all the pillars in place for recovery this year,” the president declared — a belief and expectation that isn’t backed by any data or model I’m aware of. To be sure, leaders are supposed to sound calm and in control. But in the face of the dismal data, this remark sounded out of touch. Don't you think Warren Buffet's "falling off a cliff" comment this AM is getting Americans ready for a bigger stimulus package? I find it odd that Buffet has become unusually verbose lately.