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alstry (35.44)

Help is on the way....sayz Obama today

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November 26, 2008 – Comments (6)

CHICAGO – President-elect Barack Obama sought to reassure the nation and nervous holiday shoppers about the ailing economy Wednesday as beleaguered stores braced for their most important month of the year.

"Help is on the way," he proclaimed at his third news briefing on the economy this week. Fifty-five days away from taking office, he declared he would have an economic plan ready for action "starting day one."

What kind of help can be on the way when our nation is bankrupt????  If we print money without constraint we will have hyperinflation and few will be able to afford anything.  If we deal with the problem responsibly, we would likely bankrupt half the nation.

The problem is so big that there really is little middle ground......it will be interesting to see what kind of help will kick into action on day one.

I don't know about you......but all I see right now is a whole lotta of puffing going on.

 

6 Comments – Post Your Own

#1) On November 26, 2008 at 9:21 PM, alstry (35.44) wrote:

By Robert Scheer

Maybe Ralph Nader was right in predicting that the same Wall Street hustlers would have a lock on our government no matter which major party won the election. I hate to admit it, since it wasn’t that long ago that I heatedly challenged Nader in a debate on this very point.

But how else is one to respond to Barack Obama’s picking the very folks who helped get us into this financial mess to now lead us out of it? Watching the president-elect’s Monday introduction of his economic team, my brother-in-law Pete said, “You can see the feathers coming out of their mouths” as the foxes were once again put in charge of the henhouse. He didn’t have time to expound on his point, having to get ready to go sort mail in his job at the post office. But he showed me a statement from Citigroup showing that the interest rate on Pete the Postal Worker’s credit card was 28.9 percent, an amount that all major religions would justly condemn as usurious.

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#2) On November 26, 2008 at 9:46 PM, MarketBottom (29.25) wrote:


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#3) On November 26, 2008 at 9:54 PM, abitare (63.42) wrote:

FYI - Jim Rogers on Obama here:

 

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#4) On November 26, 2008 at 10:11 PM, johnw106 (57.29) wrote:

Well if he was seriuos about breaking out that scapel and actually starts trimming fat from the budget while at the same time giving some tax releif to the middle class it will work out eventually. But I am not holding my breath on the budget cuts.

Its like his claim to insulate him self from the lobbyists. I will beleive it when I see it. I sincerly hope he follows through on even half of the promises he made. We shall see.

And as for Rogers. he is nothing but a bag of hot air whining like a little girl. he complains about everything but never offers a viable alternative other than let the whole world go pot and we all revert to the dark ages. Someone should stick a cork in his mouth.

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#5) On November 27, 2008 at 10:52 AM, lenri (73.70) wrote:

When has a politician in Washington ever cut any expenses or the budget? The next time will be the first time. "Cuts" in Washington has become a euphamism for an increase of less than what the sponsors want. Obama's words are mere puffery. Our esteemed leaders in DC are just trying to cover their a--es for a malaise they created with their spend and waste economic policies. I am beginning to believe Ron Paul might have been the best choice. Oh well, it is what it is.

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#6) On November 27, 2008 at 2:19 PM, Option1307 (29.76) wrote:

johnw106  

And as for Rogers. he is nothing but a bag of hot air whining like a little girl. he complains about everything but never offers a viable alternative

 Umm, well that is not entirely true...He did pack up his crap and moved to Singapore because he was tired of the ridiculousness we call the US. Also, he has admitted that letting things fail will be hard, but termendously necessary in the long run. He is a smart man, you may not agree with everything he says, but he has some decent points to at the very least be aware of.

I completely agree with everybody's thoughts regarding Obama and his empty promises...I'll believe it when I see it although I'm not holding my breath. People are going to be "shocked" in 4 yrs. when we are still in the same place, if not worse, as we are today. Politicians lie and manipulate to keep their seats, period. This will ont be any different with the wonder boy either.

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