Obama enters new year with no economic vision - AnabolicMinds.com

Obama enters new year with no economic vision

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    Obama enters new year with no economic vision


    WASHINGTON (MarketWatch) — President Barack Obama is poised to start the new year and the last three years of his presidency without a coherent economic policy.

    In fact, there is an empty chair where there should be an economic guru capable of helping the president stamp his legacy on American history.
    The financial crisis of 2008-09 arguably hobbled Obama’s original economic team, forcing them into a reactive mode where the priorities were to prevent a collapse of the financial system and stop the economy from entering into a deflationary spiral.

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    And that team — Larry Summers, Christina Romer and Austan Goolsbee with an able assist from Ben Bernanke at the Federal Reserve and a single-minded effort by Timothy Geithner at Treasury to preserve banks— managed to do that.

    But their efforts were insufficient to eliminate the drag on the economy from toxic assets on bank balance sheets or to stimulate demand for a robust recovery.

    Instead, hampered by a chief executive who cared little for economics, the administration made a political choice to pursue health-care reform instead of an aggressive economic package like Franklin Roosevelt’s New Deal.

    In short, they wasted a good crisis. Worse, demonstrating political timidity and naiveté in equal measure, Obama met the deficit hawks on their own ground and embraced a policy of fiscal consolidation in the midst of a recession, undermining any further effort to invigorate the economy.

    As a result, unemployment has remained stubbornly and unacceptably high, recovery remains sluggish and fitful, and the economy faces new financial bubbles due to the efforts of a frustrated Fed to make up for the ineffectiveness of the administration by flooding the market with money.

    With the worst of the crisis behind us, the vacuum in economic policy making has become even more apparent.

    Summers left the administration to cash in on Wall Street gigs and await his expected anointing as Fed chairman. Romer left in sheer frustration after unsuccessfully trying to pierce the crony old-boy network in the White House.
    In the place of these two world-class economists, the White House policy team has been steered by economic mediocrities like Gene Sperling, a lawyer with no training in economics who is head of the National Economic Council, and Jason Furman, a trained economist who has followed a political career rather than coming to the head of the Council of Economic Advisers with an established academic reputation, like most previous occupants of that post.

    Meanwhile, the Treasury Department, which has the pride of place in the economic pecking order, is not really a policy maker in the best of times. Neither Geithner nor his successor, Jack Lew, have been in a position to generate any effective economic policy.

    The missteps and bad choices in Obama’s first term now severely limit the administration in finding any overarching vision or strategy for economic policy.

    Instead, the president is left to take up whatever buzzword has some traction — currently it is inequality — and apply his little supply of band-aids to these issues du jour.

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    Knock knock



    Who there?



    A dumb negro named Obama
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    Quote Originally Posted by Xxmatt View Post
    Knock knock Who there? A dumb negro named Obama
    Hey come on now cool it with that shyt
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    We will just get another NWO puppet after Obama is done.

    And I can't stress enough how much negative things I wish upon Ben Bernanke.
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    Quote Originally Posted by Xxmatt View Post
    Knock knock



    Who there?



    A dumb negro named Obama
    I can already tell he is more intelligent than you based on this single post. Are you a racist middle schooler because that's what you sound like. Criticize the President for whatever you want, but why attack his race? Makes you sound like you're from the 1800's.

    If you have no argument then don't post. Confirming ignorance is all that accomplished.
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    If Hillary wins I'm moving to Dubai.
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    Quote Originally Posted by Zac Speed View Post
    If Hillary wins I'm moving to Dubai.
    When Bush won in 04 the internet was filled with Democrats who were going to move to Canada if we elected Bush again. In 2012 it was filled with people who were going to move to Canada if Obama won. As far as I can tell Canada's population hasn't doubled with emigrants from the U.S.

    Maybe you will be the first that isn't "all talk?!"
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    Quote Originally Posted by Geoforce View Post

    When Bush won in 04 the internet was filled with Democrats who were going to move to Canada if we elected Bush again. In 2012 it was filled with people who were going to move to Canada if Obama won. As far as I can tell Canada's population hasn't doubled with emigrants from the U.S.

    Maybe you will be the first that isn't "all talk?!"
    Obviously I'm not going to move my family to Dubai.. But what I would really want to do can't be said on here without serious consequences.

    Ron Paul will forever be my President.
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    Quote Originally Posted by Zac Speed View Post
    Obviously I'm not going to move my family to Dubai.. But what I would really want to do can't be said on here without serious consequences.

    Ron Paul will forever be my President.
    I liked a lot of things RP was for, disagreed with some. Wish we had a true third party.
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    Bring back the communist party and we will be ok!!!
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    Quote Originally Posted by Geoforce View Post

    I liked a lot of things RP was for, disagreed with some. Wish we had a true third party.
    A true third party wouldnt matter. The power behind the 2 parties is so great they pretty much do whatever they want.
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    Watch the last RNC. They wouldnt even say RP's name when counting his delegates.. It was that obvious..
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    Quote Originally Posted by Zac Speed View Post
    A true third party wouldnt matter. The power behind the 2 parties is so great they pretty much do whatever they want.
    a true 3rd party would definitely matter!!!! But your right, the 2 parties are too strong to let that happen.
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    One of the founding fathers (think it was washington idk forsure) said we shouldnt ever create parties bc the problems it brings. Now look and you really cant get a person like ron paul to win. It sucks he would have been the first real president this country has seen in a long time. The republicans and dems have a secrete agenda and it isnt in the best interest of us. Our country is going down hill. I feel like I will see the day hyperinflation comes about.

    Oh yeah an maybe ran paul is a secrete badass and will pull through.
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    Quote Originally Posted by FitnessLuke View Post
    One of the founding fathers (think it was washington idk forsure) said we shouldnt ever create parties bc the problems it brings. Now look and you really cant get a person like ron paul to win. It sucks he would have been the first real president this country has seen in a long time. The republicans and dems have a secrete agenda and it isnt in the best interest of us. Our country is going down hill. I feel like I will see the day hyperinflation comes about.

    Oh yeah an maybe ran paul is a secrete badass and will pull through.
    Ahem..


    John Adams said:

    There is nothing which I dread so much as a division of the republic into two great parties, each arranged under its leader, and concerting measures in opposition to each other. This, in my humble apprehension, is to be dreaded as the greatest political evil under our Constitution.


    George Washington agreed, saying in his farewell presidential speech:

    The alternate domination of one faction over another, sharpened by the spirit of revenge, natural to party dissension, which in different ages and countries has perpetrated the most horrid enormities, is itself a frightful despotism. But this leads at length to a more formal and permanent despotism. The disorders and miseries, which result, gradually incline the minds of men to seek security and repose in the absolute power of an individual; and sooner or later the chief of some prevailing faction, more able or more fortunate than his competitors, turns this disposition to the purposes of his own elevation, on the ruins of Public Liberty

    Without looking forward to an extremity of this kind, (which nevertheless ought not to be entirely out of sight,) the common and continual mischiefs of the spirit of party are sufficient to make it the interest and duty of a wise people to discourage and restrain it.

    It serves always to distract the Public Councils, and enfeeble the Public Administration. It agitates the Community with ill-founded jealousies and false alarms; kindles the animosity of one part against another, foments occasionally riot and insurrection. It opens the door to foreign influence and corruption, which find a facilitated access to the government itself through the channels of party passions. Thus the policy and the will of one country are subjected to the policy and will of another.

    There is an opinion, that parties in free countries are useful checks upon the administration of the Government, and serve to keep alive the spirit of Liberty. This within certain limits is probably true; and in Governments of a Monarchical cast, Patriotism may look with indulgence, if not with favor, upon the spirit of party. But in those of the popular character, in Governments purely elective, it is a spirit not to be encouraged. From their natural tendency, it is certain there will always be enough of that spirit for every salutary purpose. And, there being constant danger of excess, the effort ought to be, by force of public opinion, to mitigate and assuage it. A fire not to be quenched, it demands a uniform vigilance to prevent its bursting into a flame, lest, instead of warming, it should consume.
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    Quote Originally Posted by OnionKnight View Post

    Ahem..

    John Adams said:

    There is nothing which I dread so much as a division of the republic into two great parties, each arranged under its leader, and concerting measures in opposition to each other. This, in my humble apprehension, is to be dreaded as the greatest political evil under our Constitution.

    George Washington agreed, saying in his farewell presidential speech:

    The alternate domination of one faction over another, sharpened by the spirit of revenge, natural to party dissension, which in different ages and countries has perpetrated the most horrid enormities, is itself a frightful despotism. But this leads at length to a more formal and permanent despotism. The disorders and miseries, which result, gradually incline the minds of men to seek security and repose in the absolute power of an individual; and sooner or later the chief of some prevailing faction, more able or more fortunate than his competitors, turns this disposition to the purposes of his own elevation, on the ruins of Public Liberty

    Without looking forward to an extremity of this kind, (which nevertheless ought not to be entirely out of sight,) the common and continual mischiefs of the spirit of party are sufficient to make it the interest and duty of a wise people to discourage and restrain it.

    It serves always to distract the Public Councils, and enfeeble the Public Administration. It agitates the Community with ill-founded jealousies and false alarms; kindles the animosity of one part against another, foments occasionally riot and insurrection. It opens the door to foreign influence and corruption, which find a facilitated access to the government itself through the channels of party passions. Thus the policy and the will of one country are subjected to the policy and will of another.

    There is an opinion, that parties in free countries are useful checks upon the administration of the Government, and serve to keep alive the spirit of Liberty. This within certain limits is probably true; and in Governments of a Monarchical cast, Patriotism may look with indulgence, if not with favor, upon the spirit of party. But in those of the popular character, in Governments purely elective, it is a spirit not to be encouraged. From their natural tendency, it is certain there will always be enough of that spirit for every salutary purpose. And, there being constant danger of excess, the effort ought to be, by force of public opinion, to mitigate and assuage it. A fire not to be quenched, it demands a uniform vigilance to prevent its bursting into a flame, lest, instead of warming, it should consume.
    Thank you so much for pulling up the full speech...now I can be a little less ignorant when I tell people this haha.
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    Quote Originally Posted by FitnessLuke View Post

    Thank you so much for pulling up the full speech...now I can be a little less ignorant when I tell people this haha.
    No you were right. Just thought people would like to see the proof that you were right

    He goes on later when Trumbell asks him to go for a 3rd term. But he denied it because he could already see the clear political line between federalists and anti-federalists, which was the target behind is farewell speech.

    Politics has been corrupt since before our government, this **** will never change
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    Quote Originally Posted by OnionKnight View Post

    No you were right. Just thought people would like to see the proof that you were right

    He goes on later when Trumbell asks him to go for a 3rd term. But he denied it because he could already see the clear political line between federalists and anti-federalists, which was the target behind is farewell speech.

    Politics has been corrupt since before our government, this **** will never change
    Oh no I sincerely meant my thank you. Yes our gov't has been corrupt for too long, but now we are in a time where it seems like all the foundations we once had are being forgotten. It is a shame things will never change and only get worse.
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    Obama's only vision for 2014 is killing many more innocent people around the globe with drones and his oppression of poor people by forcing them to buy "Obamacare' or face severe consequences by the IRS.
    나는 2000년 10월 매들린 올브라이트 전 미 국무장관 매들린 사랑, 그 중 한 뜨거운 젠장!
  

  
 

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