Obama, economic troubles and famous last words
Posted on February 18th, 2009 by Richard Catto 1,583 views
“We need to end a culture where we ignore problems until they become full-blown crises. Today does not mark the end of our economic troubles… but it does mark the beginning of the end.” – President Barack Obama
Do these sound like famous last words to you?
This from an article where the US is contemplating nationalising their banks, their financial situation being so dire.
UPDATE:
Some of the commenters below don’t understand Economics, probably because they have no formal education in it, and the ignorant always call the educated stupid when they disagree or fail to understand how things work.
To show you that my economic arguments are sound, please refer to these two entries to gain a fuller understanding of why SPENDING is the only option for America to avoid another Great Depression.
In fairness by James Fallows
Wasting Away in Hooverville by Jonathan Chait
Here’s a quote from page 2 of Chait’s article above talking about WHY the Great Depression came to an end (bold is my emphasis):
Moreover, the classic right-wing critique fails to explain how the economy recovered at all. In one of his columns touting Shlaes, George Will observed that “the war [World War II], not the New Deal, defeated the Depression.” Why, though, did the war defeat the Depression? Because it entailed a massive expansion of government spending. The Republicans who have been endlessly making the anti-stimulus case seem not to realize that, if you believe that the war ended the Depression, then you are a Keynesian.
Tags: Barack Obama, Greenspan
Filed under Economics | 13 Comments »
The Nobama idiots
Posted on July 4th, 2008 by Richard Catto 1,850 views
I laughed long and hard last night when I came across a blog displaying this logo:
I clicked the link and got magically transported to (cue ominous music) The Obama File (latest obamanations).
What made me laugh long and hard was reading one of their so-called Obamanations:
Given the option of either supporting McCain or withholding support in light of the presumed nomination of Barack Obama for the Democratic party, 100 Christian leaders have met and decided to make their stand with McCain.
In making the announcement, Mat Staver, the chairman of Liberty Counsel, a legal advocacy group, said. "Collectively we feel that he (McCain) will support and advance those moral values that we hold much greater than Obama, who in our view will decimate moral values."
Hahahahahaha!!! Obama is going to DECIMATE moral values, is he? He’s going to kill every tenth one, or one in every ten, is he?
Really? Wow! Secretly, I am hoping it’s the 6th one (do not commit adultery).
Racists are such annoying idiots, aren’t they?
Tags: Barack Obama, Democrat
Filed under US Politics | 16 Comments »
Should Hillary Clinton pack it in?
Posted on May 8th, 2008 by Richard Catto 1,640 views
It seems like it is all over for Hillary Clinton‘s bid to become the Democratic presidential nominee, yet she refuses to bow out and concede the nomination to Barack Obama whose lead over Clinton appears unassailable.
Like many other (amateur) observers of the US presidential elections, it seemed a foregone conclusion (not so long ago) to me that Hillary Clinton would be the next US president, but that no longer seems to be the case.
Can anything save her campaign at this eleventh hour?
Financially, she is completed outgunned by Obama who recently spent almost double what Clinton spent on campaign advertising ($7 million vs $4 million). At the beginning of April, Obama had $42 million, whereas Clinton had $9.3 million cash on hand and $10 million in debt. To keep her campaign afloat, Clinton has had to dip into her personal savings and has made several "loans" to her campaign totalling to almost $13 million.
Yesterday, one of her prominent supporters, 85 year old George McGovern who was himself the Democratic nominee in 1972 (he lost the presidential election to Richard Nixon by a landslide), switched his support to Obama and urged her to quit.
It seems like we have come to the end of the grueling 15 month slugfest between Obama and Clinton.
Speaking from West Virginia, where the next primary election will be held next Tuesday, Clinton remains adament that she intends continuing on until there is a nominee.
How much longer can she last?
Tags: Barack Obama, Hillary Rodham Clinton
Filed under Politics, US Politics | 2 Comments »
