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543518 tn?1245322027

Ok, there was a post encouraging Americans to vote. Any thoughts on the results?

I have been out of work for a while now because of the hep c and tx, so I have spent quite a bit of time watching the progress of the elections in the USA.  It was so heartwarming to see the positive reactions to the elections from so many parts of the world.  However, I do know our media can be biased, and I'm sure there were some very negative responses in the world, but I found it a moving event.  He is only a man and I hope he can hold on to his ideals for American and our children but, as we all know "power corrupts and absolute power corrupts absolutely."
Wilful
234 Responses
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206807 tn?1331936184
It does look like Bush is going to bump Carter out of the worst president position.
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220090 tn?1379167187
The cost of these bailouts has surpassed the cost of World War II (in inflation adjusted dollars) and is now the most expensive action ever taken by our government!  Our country will take decades to recover from this.

Converting the mortgages to fixed rate would  not solve the problem, since the value of the house is less than the value of the mortgage in the case of most foreclosures.  Mortgages are "non-recourse" loans: the borrower is protected from the bank going after any assets other than the house.  This makes it easy to just walk away when the value of the house is less than the mortgage (that is a good thing).

I am sure we will never see non-recourse loans again.

When the full disaster of the Bush administration is finally documented, I think he will go down in history as the worst president in the history of the country.   No one else is in his league.
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Avatar universal
The American sickness, it just seems strange that in the last four months the world became un raveled and it started right here in the usa. But it does seem justified as Bush will leave his legacy and imprint on how to not lead a government. All the players win and the masses lose. Just like the Iraq war, lies, lies, and cover ups just as we now have this tangled web of deception. I can’t wait for the continuation of Mike Mores trilogy of this president’s legacy. 8 years of an ill fated war costing billions and lives and we are no closer to nothing, 8 years of voodoo economics and it now seems there’s only one place to shove the last needle, get ready, and grin.

It would have been better for the financial institutions to go back 5 years on residential mortgages where all these variable rate loans started to ratchet up and convert them to fixed loans at the introductory rate. This would have taken care of the massive defaults we are now seeing.

jasper
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Avatar universal
I did not vote for Obama, but I agree with Mike Simmons that so far Obama made very thoughtful choices.  Now, I hope, he will not increase corporate taxes --- because this is a reliable recipe to move remaining jobs oversea.

Be well
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144210 tn?1273088782
7.4 Trillion in new debt!!  We are toast. Got fooled again....
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314554 tn?1337454119
Thanksgiving Humor

Not one her better moments:

http://www.youtube.com/watch?v=z-kjM1asH-8&feature=related
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Avatar universal
Along with the current appointments, this could be the news the market is looking for.

http://news.yahoo.com/s/nm/20081123/pl_nm/us_usa_obama_taxes
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388154 tn?1306361691
This is what you have elected and always will elect since thats the only ones running my firm believe. (Same in all democratic countries).

http://www.youtube.com/watch?v=lof1HI6gpfw
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206807 tn?1331936184
I forgot about the sniper fire. That one “curdled my milk”.
I think we should just call it a stalemate and agree to disagree. Hopefully I am wrong.
On another note,  Ole Miss.31 LSU13. Hopefully, we get invited to the Dung Bowl.
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Avatar universal
I was more surprised that Obama exerted pressure to keep Lieberman on Homeland security. This guy campaigned for McCain and addressed the republican convention. I think Obama is smart. Clinton? She has to carry his policy and if she doesn't she'll be gone. I think she's smart enough and has the experience for the job and the celebrity too which we now know is crucial. And I believe she'll get right in line.
BTW, She lost my respect with the sniper fire in Bosnia.
I think I understood your point but I don't agree with you.
Mike
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206807 tn?1331936184
You must not have much to do today ether. I am waiting for the LSU/Ole Miss. Kick off. About another hour and a half.

I agree with most of what you said but not all. I do consider Hillary a hard line Democrat. But, her being a hard line Democrat is not as much the issue as the position and viscous attacks they made at each other. You may have missed the point I was trying to make.

“For the Dem’s that are not dancing in the street, they have to be wandering if Obama and Clinton’s campaigns were based on Lies and Deceit. In just a few months time, it has changed from Rose Mary’s Baby to the Heavens opening up and lowering each other down.
Sorry I am not buying it.”

If it wasn’t for this I wouldn’t have as much of problem with her as Secretary of State but I would still have a problem with her. When Bush was speaking after 911 the cameras were on her when she did her Eye Roll. For this alone she lost my respect and nothing can be done to gain it back.
Of all days to act like a B!tch she chose this one. Regardless of what she felt about Bush
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250084 tn?1303307435
Did someone says SHOES!!??

I HATE shopping, never been a shopper! Hate buying needless cr*p (expensive or not) that I don't need and clutter but SHOES are a whole other thing here , LOL. Love shoes :)

Seriously tho.....I love reading these, keeps me up on all the news I miss, info. I don't know and I've always come away from these threads with new views, information whether I agree or disagree. I just stay out of areas I don't feel to qualified to reply.
Yes, they are gentlemen and love the civil 'discussions' here.

Izzy.........so you have a 'money I saved on tx' shopping fund going for AFTER tx ;) ??
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Avatar universal
I am not sure you're seeing this right. People speculated that Rahm Emanuel was a move back to the same old politics. I hope that I'm right but I see Rahm as an attempt to control, to some extent, Pelosi and Reid. I see his overture to McCain the same way. I see Obama as trying to free himself from hard line democrats. Clinton is another attempt. Keeping Lieberman as chair of Homeland Security likewise. I think Obama is politically astute. I think and I hope that he doesn't fit the traditional mold that triggers a perspective like yours. Perhaps he really is as inclusive and conciliatory as he portrayed himself to be and if that's true then indeed he will be a very welcome change.
Mike
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Avatar universal
The markets reacted very positively to the announcement today
----------------------------------------

Yeah, but as we all know one day does not make it a rebound, what will next week bring??? And if the market crashes more (god forbid) will that then mean their NOT reacting positive to the news? Right now i feel only obama can really calm this market, he really needs to step forward.
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Avatar universal
Very well said, Glass.  I'm an Independent.  However employed in a fairly large industry for these parts.... and in an extremely politically charged are, we are hearing all of your sentiments above from both the Democrats and Republicans ... most of the Republicans already had a sense of the deceit from the get-go.  I'm still being hopeful and 'wanting' to give the president-elect an opportunity to accomplish some of the great things he's promised.  Yep, it appears the same old - same old.  And, I believed we were in grave trouble with Bush.
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206807 tn?1331936184
I am Greatly Disappointed in Obama’s choice of Secretary of State, Hillary Clinton.
I am sure there are a lot of Dems dancing in the street and I hope there are a lot of Dems saying whoa, what is going on here.
He chose Biden for a running mate, even though Biden said, “Obama was not ready to be president.” With Biden’s history of shooting off at the mouth, to me it wasn’t that big of a deal.
But Hillary is a whole different scenario.
It wasn’t but just a few months ago they were accusing each other of everything just short of being Rose Mary’s Baby. It was so bad; the Republican’s didn’t have to get into the “Mud Slinging” because they were doing it for them.
For the Dem’s that are not dancing in the street, they have to be wandering if Obama and Clinton’s campaigns were based on Lies and Deceit. In just a few months time, it has changed from Rose Mary’s Baby to the Heavens opening up and lowering each other down.
Sorry I am not buying it.
Also what kind of message is he sending to the 48% of the American people that did not vote for him. Especially the one’s like myself who decided to give him the benefit of the doubt.
He is a Liar and full of deceit, politics as usual. Apparently, there Is No Change. If it is, I am afraid it is not the Change 52% anticipated.


I'll tip my hat to the new constitution
Take a bow for the new revolution
Smile and grin at the change all around me
Pick up my guitar and play
Just like yesterday
Then I'll get on my knees and pray
We don't get fooled again
Don't get fooled again
No, no!

YAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAH!

Meet the new boss
Same as the old boss
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220090 tn?1379167187
His choice of treasury secretary is excellent.  I expect that he will have more of the financial team in place by Monday and will have another press conference.

The markets reacted very positively to the announcement today.  Obama is certainly gathering very smart people.
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Avatar universal
Wow how this thread has grown.  I have lots of reading to do.  

I am just loving politics these days with my man as the president elect!  So exciting for a change.  The team is shaping up nice too.
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206807 tn?1331936184
I think that if he would just address the nation it will help calm everyone down. Of course now that the election is over he would have to choose his words wisely or it could cause more damage than good. The Campaign Rhetoric and the unrealistic promises will no longer work. The Honeymoon with the Media is just about over and he will soon be the hunted.
He would need to propose a realistic plan (even if it is not a complete plan) and be truthful to the American People. Being kept in the dark is hurting us.
On another note I am impressed with the way the Senators are handling the Auto. Industry. Telling them they need to sell their Corporate Jets and when they come back with a plan, we’ll talk. This is sending a strong message to the American People and is helping to gain our trust.
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476246 tn?1418870914
I definitely agree with you. The economic crisis is a huge problem, which needs to be solved yesterday. I really hope it will not get to anarchy, that would be disastrous.
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144210 tn?1273088782
You could be right, but we don't have until January. I have completely changed my lifestyle. I have been poor in the past and know I will be ok, but this is a different culture today. Anarchy is a real possibilty, in fact I think many would welcome anarchy.
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476246 tn?1418870914
I wonder how much he can do and announce future decisions at this moment , not being the president, yet. As he has mentioned on several occasions, there can only be one president at a time. I am not sure how delicate this matter is, but I'm sure it is. I could imagine that he is lining up all his ducks and we will hear something in January.

Just a thought....
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144210 tn?1273088782
Seems like a reasonable compromise. If Obama would just call a press conference and announce no new taxes, or a cut on capital gains, or will make Bush tax cuts permanemt, then I think the market would rally. His silence is disturbing and adding to the anxiety I think. I agree that if he stays quiet, we will definately go to 5000 and worse and a depression is immenent.
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220090 tn?1379167187
My personal view is that you need to incorporate both sides of the equation to get a balanced economy.  Emphasizing one side over the other for too long distorts the economy.

A healthy economy requires an environment that allows business to grow without being overly taxed and regulated.  It also requires a healthy consumer of the goods and services.  I think the supply side folks are looking at one side and pay too much attention to taxes without looking at government spending and the health of the consumer.

We were so rich that mistakes took years before the impact was felt.  We are not so rich any longer having squandered our wealth on too many useless projects while we neglected investing completely.  

I think that the Reagan and Kennedy tax cuts worked so well because we were over taxing business and high net worth investors.  Bush cut the same taxes too much and ran up a lot of debt because he didn't cut spending.  He did cut investing though and that compounded the problem.

I think the main argument against supply side is it is a theory that deals with  a part of the economy, but not all of it.  Now we have a major problem on the demand side and that is very difficult to fix.  

I don't think the price of Buffet's stock has anything to do with his talents.  He is a long term investor and long term investments move up and down with the market during movements as severe as we are now experiencing.

I don't really think Obama is taking us in the wrong direction.  He is looking for something to replace consumer spending to prevent a depression/deflation that is very hard to stop once it starts.  Somehow, we have to find a temporary replacement of consumer spending and government sponsored infrastructure is being considered.

If the government sponsored infrastructure projects focus on things we really need, then it will help.  If it ends up being make work or just pork then we are in big trouble.  McCain proposed only supply side fixes,but there is no problem in the supply side: the ports on the east coast are filling up with imported cars that no one will buy.  The same for retail inventory and computers.

I guess an analogy would be a car whose transmission fails and one mechanic proposes a fix to the clutch and the other proposes increasing the horsepower.  Carter tried to fix the clutch when the engine was failing.  McCain wanted to increase the horsepower  when the transmission has failed and it remains to be seen what Obama will do.  I only know what he says, but he will have to fight the corruption in the house and senate to make anything good happen.  Since much of that is in his own party, I am not sure if he will succeed, but I am hopeful that he will.

The economic conditions of today are very much like that of 1929.  So far, all the attempts to fix the problem have failed.  The action of this week frightened me for the first time since the crisis started.

If Citibank collapses and the market breaks through the 2002 low (Dow 7250), we could see a market at 5000 or less. Then we could see a depression.
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