Monday, November 24, 2008
Why is the president elect on television reading bios of his advisers and economic recovery team.? He is obviously not well versed in speaking about the economy or government policy on economics. I wonder if the media with dog him as much for is slips of the tongues and non-elegant delivery as they have other presidents. I doubt it. He is a great speaker when he has to talk about change without substance but when he is trying to deliver a podium press conference he has difficulty not unlike president Bush. He says we need a "big" stimulus package to "jolt" the economy back into shape. Please let him take the next 8 weeks to enroll in a crash course on economics at the University of Chicago so he can at least give a press conference where he doesn't look like a deer in the headlights. He doesn't get it and this is the second time he has given a press conference regarding the economy and he has not instilled any confidence in me. He has the standard answer that he is not going to discuss numbers right now and it sounds like he is totally clueless. I feel uncomfortable just listening to him try and find the words to answer questions. The press will led it slide though, just as they let him slide into the presidency with out having any idea of what his "plan for change" actually entailed. It is obvious we are living in an era where the media has become so filled with agenda pushing reporters claiming to be journalists (which they are nothing of the sort) can actually influence public policy and influence our national elections. It is disgusting to see how people have gone from being investigative and truth seeking to promoters for candidates. However, it is not surprising to me to see citizens just go along with the media's agenda because it is easier for them to not think about what they are being fed. Americans today would much rather have a general idea that tells them help and hope are coming soon, don't ask questions, just trust us because we know what is best for you.
Sunday, November 23, 2008
Citi getting bailed out by the government. All American taxpayers are getting fleeced again. Citi already received at least 25 billion from the Tarp program is now getting another 20 million to go with 306 billion to offest potential toxic mortgage backed paper.
Friday, November 21, 2008
It seems like the new objective for the fed is to see how far housing can fall now that they have taken care of the banks. I think the banks now have very little incentive to not increase their rate of foreclosure and get the "toxic" assets off of their books. The objective of the tarp funds was to take these bad assets off the books of the banks so they could begin lending again and encourage a bottom in home prices. It seems like the fed no longer felt that the continued drop in home prices was more acceptable than a closing of banks. It is a complete reversal. The original reasons for the tarp were no longer even an option. Until housing bottoms, banks can't lend even if purchasers put 20% down.
Monday, November 10, 2008
Friday, November 7, 2008
Hello!!!!! the great speaker has lost his ability to orate without inserting and, um and ahs in between every other word. He is a robot, media creation, and he has no clue. He didn't have time to write and practice this speech over and over and he had to try and give some specific ideas that were of substance. I thought he looked like a deer in the headlights and he pulled one over on 52% of the country. He had an agenda to get elected that has been his entire agenda for years and actually creating and implementing public policy is foreign to him. Now the media will likely try and spin his being clueless and refer to it as being prudent. He seems like a very nice and bright young man but he definitely has no idea what is going on with the economy or what to do to get the country in the right direction. He sold "change" to the American people but he has yet to figure out he will do. The media gave him a free pass and it is showing now.
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