TheRealNews: Obama's economic policy failed, GOP will be worse

Run time: 11:29 https://www.youtube.com/watch?v=CFMBEQBKQr8   Posted on YouTube: October 31, 2010 By YouTube Member: TheRealNews Views on YouTube: 640   Posted on DU: November 01, 2010 By DU Member: Junkdrawer Views on DU: 1060

 
We're going from pretend FDR to real Hoover. Buckle up, it's going to be a rough ride.

know how that's a fail. And no, I didn't watch it, but might tomorrow. Bookmarked. :)

It's going to be bumpier than it's been, and that's pretty damned bumpy.

The fact that's still going on in large numbers, and increasing in some ways, that's a Major Fail for the Home Team.

We had the bumps coming to us from the electorate - too bad there isn't an alternative on the Left for people to turn to. Maybe, there will.

I know it's grim out there; I'm caught up in it, too. But it could have been so much worse. And yes, a solution would be ideal and might yet come as numbers and job possibilities s-l-o-w-l-y improve. As for an alternative, Palin? :D

things are broken to an extent that renders "work for the party machine" useless.

better, sorry. They will. Maybe not for me in my mid-50s who'd love a rewarding job when there is rampant age discrimination, but I have to trust things will get better. Because I'm still an optimist and also think, as the OP says, that Dems are a helluva lot better and have our interests at heart vs. the rethugs. Their interests are selfish, their goal is to make money for their buddies and themselves, they don't care about their constituents, and they want to bring Obama and Dems down, period.

I don't know if it's worth trying to fix the thing from the inside of the existing mechanism. It's so corroded and corrupted by those who are not our friends. I say this with infinite sadness after spending a lot of time working on the inside, only to be shat upon, over and over again. You know what they say about the definition of insanity . . . I think it's time to get sane and try something else.

Palin will never be elected to any national public office. She's not the real danger - it's the mainstream "reasonable" ones with clean, white shirts and power ties.

or have the republicans done everything in their power to make sure nothing good comes of anything?

They've had plenty of help.

But it hasn't failed.... it's still going on! How can it be a failure when it's not finished being implemented? It's just been timid and weakened to the point where the good stuff left comes slowly.

Remember, it's not just 8 years of Bush we're fixing.... It's 30 years of "supply side economics" and deregulation.

the thugs have made it plain that their goal is to ruin this Presidency. I take that to be prime cause #1 as to why anything has failed.

You can't get very far in your car if one of your tires fails to perform.

only 6 yrs. from 2000 to 2006 to allow the situation this country is in at its present state. From the time Bush took office...gas prices soared to unbelievable heights....corp.companies merged and people lost their jobs....plants closed and employees were given early retirements or relocation....we were hit on 9/11 1week after Bush came back from vacation,somehow he was in Florida at that time WHY!!!.....he engaged this country in 2 wars,one with a country that hadn't done anything to us.....BILLIONS AMONG BILLIONS were spent and these wars whereas no investigation for truth made for 9/11....THOUSANDS of our military personnel died for nothing.....the country went into quicksand under the republican regime.....most bills past were to hurt the poor and the middle class as the RICH BENEFITED. I guess most people forgot all this or they have become INSANE and want to bring back those 2000 to 2006 days (AND MAKING IT WORST THAN THEY CAN EVER IMAGINE). Obama cannot fix what they have done in 1 term people. "VOTE" "VOTE" "VOTE" and not against yourself.

Obama is the lesser evil?

I wouldn't say that until the election is over. Dems need two more years to fix bush's mess.

According to Rosenberg, "You know you are in a depression when:

"Congress (extends) jobless benefits seven times (in the past two years) when almost half (of those) unemployed have been looking for at least a half year;"
the adult male unemployment rate (25 - 54 years) "hit a post-WW II (high and still tops) the 1982 peak," the worst then since the Great Depression;
"youth unemployment is stuck near 25%," and for inner-city black youths it's 80% or higher; "these developments will have profound long-term consequences - social, economic and political;"
the depression's fiscal costs keep mounting, the federal deficit soaring with no end to it in sight;
for over a year into a supposed recovery, the Fed still contemplates new ways to stimulate growth, its tool, of course, printing money (funny money, or as one analyst calls it, "toilet paper") and quantitative easing, compounding the deficit, or the equivalent of throwing fuel on a fire instead of monetary and fiscal sanity plus sound economy policies to extinguish it;
after two years of record trillion dollar plus deficits to kick-start the economy, interest rates are shockingly low, flashing weakness, not strength; to wit, on August 24, the 5-year note was 1.36%, 7-year at $1.95%, 10-year at 2.50%, and 30 year at 3.57%; as well as 30-year fixed mortgage rates at record lows below 4.5% (4.42% on August 24), despite "no fewer than eight (government) programs to put a floor under the housing market;" we're in big trouble "when (Washington) can expend so many resources (on) one sector" in vain;
the FDIC keeps shuttering more banks; again, the carnage keeps spreading, yet most economists cling tenaciously an economic recovery theme, at most hit by a soft patch; Rosenberg's response - "Some recovery (when) the private credit market is basically defunct....what replaced it was rampant government intervention (buying time) by trying to (put) a floor under the economy;" once it stops, and it will, they'll be no hiding the dire truth, and no end of pain for growing millions.
The Worst Is Yet to Come
Financial expert and investor safety advocate Martin Weiss began warning about a major economic decline long before it began and keeps at it, citing evidence most analysts downplay or ignore, including:

America's worst ever housing depression showing no signs of abating; since January 2006, housing starts alone have plunged from 2.3 million annually to a recent 477,000 low that may not yet reflect a bottom because demand is so weak for this bellwether industry;
record long-term unemployment, its worst since first officially tabulated over 60 years ago; and
"the most chronic credit squeeze ever recorded....suffer(ing) its deepest plunge since WW II."
As a result, he sees deepening economic trouble ahead, no matter what steps the administration, Congress or the Fed undertake. He expects little more stimulus, just another futile central bank attempt to print money (lots of it) to buy time. "These paper dollars will not create real prosperity," just an illusory, "temporary, false prosperity," but none at all for most people, hung out to dry on their own.

He also expects a sovereign debt crisis to hammer Europe and the US, saying America's plight exceeds the dire situation of PIIGS countries (Portugal, Italy, Ireland, Greece and Spain), citing the Bank of International Settlements (the central bank of central bankers) saying US debt will hit 400% of GDP, more than triple Greece's burden at 129% that plunged the country into (undeclared) bankruptcy. Indeed the worst for America is yet to come.http://www.atlanticfreepress.com/news/1/13747-america-facing-depression-and-bankruptcy-.html