Economy won’t improve with Dems
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Published: November 30, 2008
If President-elect Obama is such an agent of change why isn’t he facilitating a summit with economic and business leaders, akin to his proposed meetings with Hugo Chavez and other leaders, to at least
calm the faltering stock market and overall economy?
He could actually hold a Pope-like audience and at least muster some hope for economic salvation, just as he enshrined change during his campaign.
The reason is because the last thing Obama and his comrades want is for the economy to improve. The more economic demise there is before his inauguration, the more they can blame it on Bush and
diminish any focus on their failed Great Society type plans to raise taxes and increase government spending in a faltering economy.
In essence, it’s that typical liberal power canard that is manifesting itself right before our eyes — the more “victims” and “downtrodden” they create, the more folks Democrats can supposedly help while
doing all they can not to grow the economy and help people and business produce.
That’s why Democrats support the Big Three bailout, even though the United Auto Workers union refuses to make concessions during these dire times. It’s about power and maintaining the Democrat
voter base that is best at slopping at the misery alleviation trough funded by taxpayers.
ROBERT T. MOLLEUR
Manassas
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Reader Reactions
Posted by ( PWCDEM ) on December 08, 2008 at 10:25 am
Well, we supposedly have a President right now. Of course, it is hard to be sure about that, given the total lack of leadership from Bush. Although only one person is acting like a President, Obama, Bush still, technically, occupies the White House. Perhaps your ample anger should be direct at him.
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Posted by ( raywilliams ) on December 06, 2008 at 11:02 am
“Check’s in the mail is the last thing you want to hear.“
I am fortunate that I started the business between recessions and we are now in a position we don’t worry about cash flow. We work with many of our customers to spread the cost over whatever time they need to make the project comfortable for them.
My son on the other hand just started a retail business in a Mall. Ouch!
Got the first shipment of Christmas inventory just as Wachovia called to say they were canceling outstanding lines of credit!
He will be the canary in the coal mine I watch to see how the economy progresses under the new administration.
He is a real American (and supported Bush), experiencing the real American financial crisis so as goes son, goes America.
Stay tuned!
It will be interesting to watch.
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Posted by ( rafaelva ) on December 06, 2008 at 9:55 am
ray, that’s cool, my son-in-law owns a business similar to yours, more towards demo and restoration I guess. I hear the stories, hahaha! Check’s in the mail is the last thing you want to hear.
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Posted by ( raywilliams ) on December 06, 2008 at 8:14 am
“The point of regulation is not to impose some kind of socialist restriction on the acquisition of wealth”
As one who aquires wealth the old fashion way through hard work and street smarts, I support the Capitalist system - even with the flaws in the system.
I just make sure I work hard to protect what is mine from those that would seek to take it from me.
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Posted by ( rafaelva ) on December 06, 2008 at 6:18 am
ray, jVA, you’re both right, it’s a little late to assign blame to individuals, however, we do need to know what caused it, identifying the cause helps plan the fix.
Most economist will tell you that Capitolism is a good system, it’s supposed to reward each according to their abilities, not needs. The system works, but it has one single area that will bring it down, make it fail, Fraud!
The point of regulation is not to impose some kind of socialist restriction on the acquisition of wealth, it’s to guard against Fraud.
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Posted by ( raywilliams ) on December 05, 2008 at 10:56 pm
“I’ve just been thinking alot about the economic problems we’re facing lately, and I have to say I’m done blaming.“
Blame won’t solve the problems, but I think we do need to understand what caused the problems so we know where to start to fix them.
And then hopefully, address the issues so it doesn’t happen again.
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Posted by ( jVA ) on December 05, 2008 at 9:42 pm
“<It is very easy for Republicans to blame the Democrats - and I’ve seen postings putting the blame on Bill Clinton >.Oh yea
Be honest , if Democrats want succeed, first they must start assuming his part of guilt, on the crashing economy.“
I’m kind of a partisan person thse days. I wasn’t always, believe it or not. Considered myself an independent throught most of the 90s. GW Bush really caused me to pick a side and stick with it.
I’ve just been thinking alot about the economic problems we’re facing lately, and I have to say I’m done blaming. I don’t remotely care who was responsible at this point. I’m sure both sides are right that there is blame enough to go around. Did anybody see the number of people who lost their jobs in November? It is STAGGERING.
This is a huge crisis we’re facing. I don’t want to see my neighbors losing their homes. I don’t want to see families worried about paying their bills and sending their kids to school. I think we all share these concerns no matter what political party we support.
I hope we can come together this next year and get things turned around.
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Posted by ( rafaelva ) on December 05, 2008 at 11:27 am
Automakers are the tip of the iceburg, but you’re right, Toyota is cutting back on production of some of it’s best models, particulary the camry. Lack of sales.
Oh the Chevy Chase Bank thing wasn’t a surprise, actually Citi had considered buying them out, and backed away. Chevy Chase pulled out of the third party mortgage market earlier this year, and FDIC put them on the watch list.
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Posted by ( raywilliams ) on December 05, 2008 at 8:03 am
“and consumer lending is too risky. Consumers are also holding what money they have close to their chest.“
Which would appear is what is causing the problems for the auto makers.
While being blasted for making too many SUVs, which we bought, the problem is people aren’t buying any type of new vehicle at this time.
I’m not saying management - and the generous contracts they allow to actually AVOID managing the business - is not part of their problem, but sales equals cashflow, which they lack right now.
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Posted by ( rafaelva ) on December 04, 2008 at 11:52 pm
Most likely correct. It didn’t stop there, we had Greenspan reacting to a mini-recession in 2001, the Fed’s level of correction was excessive, and the following correction upward was excessive.
The real estate bubble popped, loans started defaulting, credit got tight. Now we are looking at nominal interest rates near zero (Prime is 1 percent), there is no profit in interbank lending, and consumer lending is too risky. Consumers are also holding what money they have close to their chest. We are in a Liquidity Trap.
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