Obama says he inherited economic problems

tom prendergast said:
I am not going to explain Keynesian economics to you, watch this video and you might learn something.

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The video makes it as clear as day. The other philosophy, Milton Friedman's philosophy, was the philosophy Greenspan followed which led to the financial crisis.

Good luck in trying to get people to watch the video. I posted a video a while back which shows Greenspan followed Friedman's idea of letting the marketplace settle things. In the end Greenspan had to confess to Congress that his philosophy on how the world worked, the same way Friedman believed, was wrong. Very wrong.

http://video.pbs.org/video/1302794657/

The strange thing is Friedman's ideas have been shown to be incorrect. The financial crisis is proof of that but for some reason the Republicans and even some Democrats are unable to grasp the truth. When members of Obama's own party decide not to follow his advice what do people expect will happen.

People talk about Obama's lack of leadership but it's like that old expression, "One can lead a horse to water but they can't make it drink."

I think Obama will solidify his plans the next term knowing he won't be up for re-election in '16. If he can hold on one more term the people will see the benefits of Health Care and other plans he'll put forward.

Even with a majority, when first elected, he offered his hand to the Republicans. He misjudged the misinformation and outright lies the Repubs would use. He won't make that mistake next time. If the Repubs think he was heavy-handed with ObamaCare they ain't seen nothin' yet! It will be time for either "Johnny, get your gun or STFU and STFD." :)

(I like those abbreviations.) ;)
 
total horseshit, thieves lead to the collapse and it was compounded by taxpayers giving the thieves billions more. thanks for the comedy
the ship is sinking from spending too much, so we should spend more. Fucking hillarious
 
Damocles said:
I thought Mr. Mindless Liberal was your father and you preferred just "mindless"... I'll make sure to change that. :D

I don't think you're mindless, poet. Someday, you should post some of your poetry...
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Oh, now you're playing the dozens with me? I'm one of those whom you conservatards love to scapegoat...my papa was a rolling stone, and fell for the "white privilege" BS, and thought he could "assmilate" if he could only learn to play a competent game of golf. Silly rabbit. My mother taught me about people and politics, thank you very much. My ID of "poet" will suffice for address.
Don't lower yourself farther then you already have.

And you may dream on...about me posting my poetry. I'm not here for any accolades or razzies from the madding crowd. My work is for purchase, and all money ain't good money. Trust me...it's a bit above mere "good".
 
The Dude said:
Good luck nailed it. carter's economy was way worse than bush's. There was a lot about bush I didn't like and a lot of it carried over with Obama.
Maybe he was to green. He spent to much, after blasting bush for spending half as much. He increased our military in the shit hole after sucking anti war dicks. He attack every industry with a pulse and is mystified they are squeamish on hiring. He mocked Clinton's wuss approach on herb and became a Prohibitionist extrodinaire.
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Good Luck doesn't know what he's talking about.
 
Onceler said:
Apples & oranges. Today's economy is global.

Interesting that you bring up that era, though. That was one of the last times that an opposition party in Congress made a good faith effort to work w/ the Prez to get things done.
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Yet somehow this country came close to actually NOT outspending revenue during the late 90's.... that was with Rep control of both Houses of Congress and a Dem in the White House.
 
The Carter economy Reagan inherited:

fredgraph.png


The Bush economy Obama inherited:

fredgraph.png
 
The Dude said:
total horseshit, thieves lead to the collapse and it was compounded by taxpayers giving the thieves billions more. thanks for the comedy
the ship is sinking from spending too much, so we should spend more. Fucking hillarious
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Oh...and by the way.....did I mention that it was also Carter that ended Nixon's wage and price fixing policies that were so largely responsible for the period of stagflation.

Look Carter's unpopularity, particularly in the business community is very understandable but let's base it on the facts and not some right wing delusional mythology that just gets repeated until people think it's true.

You are right. Carter inherited a far worse ecnomic mess then Obama. Carter then made a conscious decision to raise the prime interest rates severly that was hugely unpopular. Imagine, you're running a business and your costs of commodities, raw materials and energy is sky rocketing due to Nixons price fixes, inflation is going through the roof and your labor is screaming for higher wages so they can keep up with sky rocketing inflation and then Carter comes along and raises the Feds prime interest rates. Holy Fuck man! Yea...that was not a popular move and Carter made a lot of enemies when he did that. One problem though. IT WORKED! Hell Reagan thought so to, That's why he re-nominated Volker and continued the same Fed policies that Carter had. Cause it was working and indeed did work.

Carter will never be mistaken for a great President. A very capable administrater he made a ton of political blunders with his gang from Georgia that alienated most people who worked inside the beltway and was completely ineffective at managing congress and moving his political agenda through the legislature. Nor did he help with the national post Vietnam War/Watergate malaise the nation was suffering from and his handling of the Iran hostage situation was hardly inspired to say the least. So yea...Carter wasn't that great but this right wing bull shit of blaming Nixons fuck ups on Carter is a complete miscarriage of justice when Carter, in fact, did much to fix Nixons fuck ups.

In reality Carter was a below average President where as Nixon was one of the worst Presidents in our nations history. So spare me the right wing mythologies.
 
I've concluded from a lot of these discussions that most history must be BS. I'm amazed at how effortlessly righties are able to re-write it & solidify the "new" history with repetition (as many of them did w/ Iraq). And that's in the media age, when information is everywhere & just a quick web search away.

Older history, before any mass media, must be rife w/ inaccuracy...
 
Onceler said:
I've concluded from a lot of these discussions that most history must be BS. I'm amazed at how effortlessly righties are able to re-write it & solidify the "new" history with repetition (as many of them did w/ Iraq). And that's in the media age, when information is everywhere & just a quick web search away.

Older history, before any mass media, must be rife w/ inaccuracy...
Click to expand...
Exactly. The facts are, Carter was a below average President who made some difficult decisions that made him unpopular. Reagan was an above average President who also made some unpopular decisions but please, please,please spare me the right wing mythologies about either!
 
LOL - here's an interesting quote from Ronald the Great, from the 1983 SOU:

"The problems we inherited were far worse than most inside and out of government had expected; the recession was deeper than most inside and out of government had predicted. Curing those problems has taken more time and a higher toll than any of us wanted."
 
Dude, go do your homework. You're not going to get the facts from George Soros and MSNBC.

Mott the Hoople said:
This dumped our nation into both double digit unemployment and double digit inflation and Nixon did JACK SHIT about it. Ford Didn't do a hell of a lot either but he was hamstrung politically. Carter then inherited that fucking mess from the Nixon/Ford administrations where from 73 to 75 inflation soared from 3.5% to 12%
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Lets take this one at a time.... WRONG....

while inflation did hit double digits in 1975, by the end of the year it was at 6.94% annualized and averaged 9.2% for the year.

In 1976 (you know, the election year) it continued to fall and averaged 5.75% for the year.

when Carter took over in February of 1977 inflation was at an annualized pace of 5.91%, when he left office in January of 1981 it was back in double digits, having averaged double digits for 1979 and 1980.

here is the ACTUAL data, rather than your spoon fed nonsense.... http://inflationdata.com/inflation/Inflation_Rate/HistoricalInflation.aspx?dsInflation_currentPage=2

and unemployment went for 6% to 11%
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WRONG. Unemployment was at 7.5% in January of 1977, 7.6% in February when Carter took over.

and our national GDP had shrank 5 out of 12 quarters (and when was the last time you heard that happening?)...and...oh yea....CARTER HADN'T EVEN FUCKING BEEN ELECTED YET. So it was the oil embargo that was a direct result of Nixon's right wing foreign polices and Nixonian price fixing schemes that were almost solely responsible for that period of stagflation. CARTER DIDN'T HAVE A SINGLE FUCKING THING TO DO WITH IT. He inherited the mess.
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LMAO.... wow, where are you getting your talking points??? You were close on this one in that GDP shrank in FOUR of the previous 12 quarters. However, GDP was POSITIVE in each of the SEVEN quarters preceding Carter taking office.... and continued to be positive until the slight negative GDP in 1980.

http://www.bea.gov/national/index.htm#gdp

So what did Carter do? In 1978 he nominated Paul Volker as chair of the Fed. In 1979 Vockler raised the federal fund rate from 11.5% to nearly 20%.
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Nominating Volcker WAS indeed one of the highlights of Carter's term. However, WRONG.... the fed Funds rate went to 17% in March and April of 1980. He then dropped it back under 10% for the months preceding a certain event in the fall of 1980.... can't recall what that event was.... hmmmmm...

Once the election was over and Volcker knew he would no longer be hamstrung by the inept Carter, he then raised rates up to almost 19% in December of 1980 and then kept them north of 15% for most of 1981.

Carter new that he was going to take a hell of a political hit for this extremely unpopular decision and he did. You could hear people, industry and business howl from one end of the nation to the other. When cash strapped construction companies and farmers and Ag business literally marched on DC in protests of Fed policies and high prime rates. Carter was reviled across the land for this decision....there's only one problem. IT FUCKING WORKED!
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Seriously... WHERE are you getting your nonsense from? Volcker talked him into allowing the rates to rise. Carter DID indeed agree. But as SOON as people started bitching.... the rate magically went back under 10% and did not rise back above 12% until AFTER the election where Carter got his inept ass kicked.

Reagan, when he took office in 1981 new that it was working. That's why in 1983 Reagan reappointed Paul Vockler chair of the Fed and at which time the prime rate reached it's historic high of 23% but inflation was now down to 3.2% and unemployment was under 9%. So it was Paul Vocklers fed policies approved and implemented under BOTH Carter and Reagan that is credited with ending the period of stagflation in 1983. Unfortunately for Carter, he took the political hit for high Prime Rates that ended stagflation and not Reagan who gained the political benefit of stagflation ending but that's life. No one ever said it was fair.
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Here you finally got something right. It WAS Volcker's policy that pulled us out. But you are wrong to pretend that Carter should get any credit given his complete cowardice in the implementation. Reagan did indeed see it working and HE took the heat for it. Which is a large part of why there was a big shift to Dems in the midterms of 1982.

So try doing your homework and know what the facts are before you start repeating right wing propaganda that you hear from Fox News cause no matter how many times you repeat it, it still won't be the truth.
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This is truly comical given that almost every one of your comments was nothing more than left wing nut talking points that are not supported by the ACTUAL data.
 
Onceler said:
I've concluded from a lot of these discussions that most history must be BS. I'm amazed at how effortlessly righties are able to re-write it & solidify the "new" history with repetition (as many of them did w/ Iraq). And that's in the media age, when information is everywhere & just a quick web search away.

Older history, before any mass media, must be rife w/ inaccuracy...
Click to expand...

Yet you have no comment on Mott's attempt to re-write history in some desperate feeble attempt to make Carter look good?
 
Misery index was pretty low under Ford.

Apple, if Greenspan was such a Friedmanite, why didn't he let the market determine interest rates?
 
apple0154 said:
The video makes it as clear as day. The other philosophy, Milton Friedman's philosophy, was the philosophy Greenspan followed which led to the financial crisis.

Good luck in trying to get people to watch the video. I posted a video a while back which shows Greenspan followed Friedman's idea of letting the marketplace settle things. In the end Greenspan had to confess to Congress that his philosophy on how the world worked, the same way Friedman believed, was wrong. Very wrong.

http://video.pbs.org/video/1302794657/

The strange thing is Friedman's ideas have been shown to be incorrect. The financial crisis is proof of that but for some reason the Republicans and even some Democrats are unable to grasp the truth. When members of Obama's own party decide not to follow his advice what do people expect will happen.

People talk about Obama's lack of leadership but it's like that old expression, "One can lead a horse to water but they can't make it drink."

I think Obama will solidify his plans the next term knowing he won't be up for re-election in '16. If he can hold on one more term the people will see the benefits of Health Care and other plans he'll put forward.

Even with a majority, when first elected, he offered his hand to the Republicans. He misjudged the misinformation and outright lies the Repubs would use. He won't make that mistake next time. If the Repubs think he was heavy-handed with ObamaCare they ain't seen nothin' yet! It will be time for either "Johnny, get your gun or STFU and STFD." :)

(I like those abbreviations.) ;)
Click to expand...

I would like to beieve that what you are saying about Obama is true but I aint about to vote for him in 2012 on woulda, coulda, shoulda. Given his voluminous experience, his education and his curriculum vitae I have to give serious consideration to Romney, if he wins the nomination. My deep concern with Romney is will he be handicapped and hog tied by a far right wing Republican platform? Our nation needs that like it needs a hole in it's head. It's going to be a tough decision in 2012 and as I keep saying Barry needs to shit or get off the pot if he expects to get re-elected. Praying for Republicans to self destruct and nominate an idiot isn't much of a strategy.
 
Obfuscate the econ major, welcome grasshopper.

I'm sure you crushing them will look a lot better than the spelling challanged cajun does
 
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