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To: i-node who wrote (192543)	3/22/2009 8:26:54 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 306849

I haven't heard anyone, anywhere, say Obama is smart. He is just not the bumbling fool Bush was. Obama is definitely learning on the job. His lack of experience was a big issue with his detractors. When viewed in that light, he isn't doing as bad as one might have envisioned. I am not defending him but rather pointing out that the first two months as president of a rapidly deteriorating economy could have been much worse.

To: i-node who wrote (192543)	3/22/2009 8:45:16 PM
From: bentway	Read Replies (1) \| Respond to of 306849

" What's difficult to explain, though, is why he is performing so badly thus far? " The thing is Dave, he isn't. He's been handed a shit sandwich like NO president has had to deal with before, the Bush Great Depression II. In 1932, Roosevelt KNEW how bad it could get - it had already gotten there. Not so with Obama.

To: i-node who wrote (192543)	3/23/2009 2:37:35 PM
From: butschi2	Read Replies (1) \| Respond to of 306849

In 60 days Obama has done massive damage to our country in every respect. In national defense? Disaster. National security? Disaster. Economy? Disaster. The country, while giving him a chance, is divided just like under Bush. Its hard to clean up the mess Bush made in 8 years in just a few days. The debt binge went on from 1990 but was fulled under Bush to unsustainable and dangerous levels. This mess may be too big to clean up even for the best and brightest (usally not dabling in politics). Doing nothing as Bush has done is no option if you hit the wall. The mess will be - whatever is done now - drag down the US and global economy for at least another 12 month or more and perhaps with a very slow recovery later feeling like a recession. The job less rate will explode until 2010 in the US and around the world. From the job less perspective we are just at the start. Jobs cuts come later than revenue is lost. I would expect the job less rate to increase with GDP lost, perhaps depending on the country a bit more or less. More (more GDP lost) for export dependend countries (Germany, Korea, Japan, China, ...) and for countries hitting the wall because of currency problems or big reliance on high commodity price based spending. If the orders for Q2 doesnt improve the firms may start the real jobs cuts on base of the order reduction. In Q1 there was some general reduction and some big job cuts announced. But in general the job cuts didnt meet revenue reduction yet. If revenue doesnt improve soon the capacity must be reduced sharply. Tax revenues will implode even faster than the job less rate will explode, coupled with more expenses for bailouts, public spending and social security most countries will hit new record debt loads. Smaller not as creditworthy countries may not be able to lend further money or refinance without international assistance. I would expect the real problems for the big debt ladden countries to start with the recovery process, because then money will be diverted from the "save" government bonds to the better yielding stocks and company bonds and the flight to quality will end. This is a disaster in the making for the debt loads of many countries and not only small ones with small currencies. Pound, Euro and Dollar may flirt later with inflation or even hyperinflation. Looking back from 2010/2011, 2009 could look like an economic "heaven". Many countries are on the verge of failing, coupled with social unrest it will start to get really ugly.