Can Obamanomics solve the crisis?

[88volcano]

Hey what is the freest country I want to move to there and start a new USA

[rw5791]

if u want a loan now u basically have to get a rectal exam.But it's too late.Look,clinton passed the CRA and he opened the china floodgate.A tsunami of money flowed back to america and was handed out to anyone who walked through the door.I blame bush for not controlling the china problem but at least he did try to reign in fannie mae.

[rw5791]

obama and his cronies at fannie mae CAUSED the crisis.Anyway,thats water under the bridge,I'm looking forward to inflation like you've never seen before.I want to see americans in real pain thanks to this joke of a president.

[givethemahand]

rw- "obama and his cronies at fannie mae CAUSED the crisis"

Actually:

Easy mortgages that went bad amount to 3-4% of the total "toxic assets" that we had to bail out... Blame that on Dems

Mortgage backed securities / leveraged at 30 to 1 / bundled into derivatives , became 90+% of the toxic assets that we had to bail out. That stuff was ( for the most part) pushed by Reps.

The economic arrange was caused by the Dems trowing 2 lb. hand grenades and the Reps dropping 5000 lb. "dumb bombs".

[maddogwisconsin]

People, Come together on April 19th. At your state capitol and we shall send a message to the government that we shall stand up and fight! And we wont take this anymore!

[JoeAverage86]

Obama lied; the economy died.

[CoolScoobydoo]

@JoeAverage86 No, greed, greed, greed, is the reason why this economy has failed. It is too easy to blame Obama just because you don't believe the government should have any impact on stimulating the economy instead just cutting taxes here and there hoping for some false trickledown effect. If we were to just cut taxes and spend no money, poverty would be 30% in this country.

[jonz23m]

did he just say credit is purchasing power???? wow am speechless.

[DescryCodes]

Here's what everyone sees.. the working class, middle class even businesses are busting their asses and not seeing any returns except for debt.

Now if this economy is freakin worthy, then why is it so confusing? If hard working americans have to borrow money for anything then this government is not doing its job! For America to be infested with poor education, drugs, crime, racism, then something bad is wrong. All the efforts of this land are leaving into over seas hands or greedy locals.

[DescryCodes]

People of America better not see another tax increase for ANYTHING!!! There better be a reduction in taxes to help out americans during this hard time of all the corporations and big investors pulling their money out. ENOUGH taxing of low income people and before they own a small home. Let people get established then tax them according to their income. Only the rich can afford to find the loop holes. I guess that's how it supposed to be though right?

[Lymojo]

Why's this clown wearing a tux?

[benbur69]

We cannot get rid of the Fed. Our banking industry would collapse. Nationalizing it would give our Government more influence over the home loan sector and allow it to forgive debt. That would have an immediate effect on our confidence in the economy. People would have money to spend again.

[overmind25]

Of course we can. Coercived backed monopolies are criminal. A nationalized bank does not have magic powers that allows it to make decisions that would not have consequences in the society it declares a montary monopoly over.

[overmind25]

*monetary

[benbur69]

That is why the Fed was created, to have an effect on society. To stabilize our economy. If there is no centralized control of our monetary policy we'll have major problems. Obama should nationalize the Fed and give the government total control of it. This should only be done on a temporary basis. Say 5 - 10 years. Use the Fed and it's reserves and buy out bad loans from the consumer directly. "They" screwed it up, let them pay for it. The Fed's reserve belong to the banks. Use it.

[overmind25]

No, we don't need central control. If the a bank or any other institution provides a stable currency people will trust it and use it as their currency. Central monopolies have no competition. The Fed cannot pay for its mistakes. It is just an institution and those in it do not have all the money that they have wasted.

[titosantucci]

I assume you know that the Federal Reserve isn't federal, right? But I don't think you know that they are not a "reserve". They make money out of thin air and lend it. This lending chain goes down the banks to the end borrower. Why not just end the Fed's governmnet enforced fraud forever and go back to constitutional currency? Did you forget that the reason we succeeded from England was to get away from central banking? Central banking is the most harmful thing to a people's sovereignty.

[Aechronia]

Since when has government demonstrated competence in managing finance? Giving the government more influence in an already heavily regulated sector would solve nothing.

Or maybe we can just forgive the debt and make all the mean lenders go away. That's the type of naivete characteristic of 6 year olds and liberals.

[benbur69]

I think the government has done a very good job with social security, Medicare, etc... Government can work. I know most people would say that those are bad examples. I disagree. I think they are good examples. Think of how much good has come of these programs. How many people do you know who rely on them. I know a few and it works! Yes it is expensive. So what? The programs have been working since the '30s. That's pretty damn good in my book. So, government can work. Let them try it.

[ferrozm]

Soc. Security and medicare are both ponzi schemes. Those who put money in at the beginning of the program get the most benefit when they retire and later generation will get nothing, same goes for medicare. Both of those programs represent 50-60 trillion dollars of unfunded entitlement programs. I don't know how anyone can say that they are good programs and keep a straight face.

[titosantucci]

That these programs have been kept afloat since the 30's doesn't mean that they are very effective or helpful. The Jim Crow laws were also in effect for a long time, but...duh! Government forces it down our throats and we don't do anything to stop it, thats why it been here since the 30's. Ponzi schemes fall because people get their money out. But government ponzi schemes don't ask you if you want to participate or not. All that money is gone anyways. Government "borrows" 100% of it.

[DescryCodes]

When people lose faith in government, that will be the end of whatever rule we've been under for the past 200 years. The americans are tapped out and exhausted and can't take any more lies and crooked politicians or crime. Their safety is seriously jeapordized, their homes jeapordised, inflation outrunning their wages, they owe money, and losing their jobs. If people have to vote for lesser of 2 evils.. then we are in a bad way. Simple as that.

[benbur69]

I agree but unfortunately there has to be some kind of centralized control of our economy. It needs governmental and private business involvement. Right now the Private sector screwed it up. Let the Techno-Crat's and their ilk try. I'm a Boston Liberal so I think government can work properly if properly led. I have nothing against big government, if done justly and with an eye on the future.

[ferrozm]

wrong. the govt screwed it up. the community re-investment act, Freddie and Fannie, regulations, and the federal reserve. The only role government ought to have is to arbitrate fraud.

[titosantucci]

Wrong! Technocracy is what lead us to this mess in the first place. You can't blame the private sector when it was betting on the phony economy that the government had forced in its face. Technocracy manupulates the market/economy, the marketeconomy fails, and you blame the private sector? Why don't you just blindfold a guy (government/media propaganda) and then stick your foot out to trip him (phony economy) and bame the guy, so you have to control his every move to keep him from falling!

[benbur69]

He's saying, "Share the wealth". Unfortunately there's to much greed in Capitalism. The "Ttickle Down Theory" is not working. Thanks Reagan. In order to fix our system (Capitalism) we need to invest in the "System". That is Obama's short term "fix". For the long term he'll have to look at increased regulation, socialize the Federal Reserve Bank System, etc...

Let's hope he gets it right...

[benjis007]

yeah, that'd be great if we believed in central planning (ie communism / socialism, etc) -- but, some of us still think the FED is the problem...don't nationalize it, get rid of it! Look to free market thinkers, not central planning models...misesmedia channel has some great discussions.

[Jackstowne]

Where's part 2?

[Umberto2]

Are you righties still crying about socialism?  Ron Paul is a douche.

[Umberto2]

tax the rich now

[TheHairyHeart]

Usury, Usury, Usury, Usury, Usury, Usury,

Usury, Usury, Usury, Usury, Usury, Usury,

Usury, Usury, Usury, Usury, Usury, Usury,

Yes you can!

[sailfished]

In an earlier comment i posted on r.n. there were a series of comments posted by Runesteldt one where he was pretending to educate people about the[ Ron Paul] people,I support his right to align himself with any group or belief system of his choice, I simply reject his right to impose his beiefs on me. He so grossly misrepresented what libertarians stand for that his analysis is laughable,Peace

[overmind25]

Socialism can work but it should be voluntary. Forcing people to live in your system is imperialism.

[Edgrot]

What are you a moron or a sheeple? Socializim which is the real term does not work and never has worked. Why because the huge massive controling body needed to carry out the idea. It can not be finacialy done nor has any socialist leader even not snatched tyranical rule. Socializim gave us stalin Nepolian Hitler shall I go on? Your a super moron of the system and know no truths.

[overmind25]

Well thanks for the kind comment but if you look at Finland (which has the best education system in the world) is one of, if not the most egalitarian nations when it comes to education. I personally support free markets for almost everything but I think any socialism should be allowed and should be voluntary. People who have the socialized mind set can make it work.

[ferrozm]

This guy is such a socialist!! He's wrong on all his policy recommendations. All his policy recommendations have been wrong before why listen to this asshole now?!!

[sailfished]

This man is a sold out liar,Gov/Fed manipulation caused this ,He is a bankster, Dr. Ron Paul is my President/ I would like to have Gerald Celente on to respond to Mr. Gailbraith!

[Edgrot]

Well said because as I watch more of the real news network I see things. I see them use words to draw the viewer in and then inject more none constitutional aproaches to the problem. This is socializm lite news. Thats all nothing more. Prettyer package but more of the same bullshit. Real news has done ZERO to impress me and I see no change in that. Put me on across from some of these pricks and see how they will run scared of real answers.

[Umberto2]

No, "free market" deregulation caused this financial disaster. you loose.

[sailfished]

You are brainwashed, this equates to a waste of my time ,what is ,is what is ,time to ride the dragon

[sailfished]

p.s. i gave you a thumbs up just so you can codify that feeling of false affirmation

[Umberto2]

oh, thanks! i completely equate my youtube approval with my overall self-esteem.

[benjis007]

you would only say that if you believed the hype. We don't have a "free market" here, and many of us believe that if we did, then we wouldn't have these problems b/c failed business models simply fail and aren't subsidized and propped up by taxpayers. Not to mention the massive lobbying power that corporate interests have in our govt regulation already -- they create regulation in their favor, to the detriment of their business model, and then when they fail, they force the taxpayers to bailout

[Umberto2]

the idea you're talking about is pure science fiction/fantasy/utopianism. there has never, in the history of civilization, been a true, free market economy. you libertarians/ayn rand disciples live in fantasy land, much like the neo-cons. get real. the biggest recipients of government subsidies are the oil and gas industry and they are the most succesful corporations in human history.

[benjis007]

do you know what the modern definition of agriculture is?? it is the conversion of petroleum into food... Did you know that oil is the basic ingredient in almost everything we use from rubber to plastic to gasoline --hence more money filtering to other type companies producing such goods? The reality of free markets have existed, in point of fact. Look to Ireland before being crushed by Brittania, and look to early iceland, and perhaps even spain just after civil war before being crushedbyfranco

[Umberto2]

sad, but true about oil. too bad we're all screwed when the peak oil curve tops out. should be in our lifetimes. no one is ready for the fallout - nothing has been done to prepare. giving subsidies to this machine only compounds the problem.

[titosantucci]

No, central banking's manipulation of the economy created this mess. The banks didn't have any choice. The major banks are the Fed's memeber banks anyways. There no such thing as "free market" deregulation when the market is being manipulated anyways from a centralized authority.

[truthsabre7]

BO will go down in history as ushering in the Greater Depression.

[Umberto2]

No, that would be a Mr. Bush. How quickly you loose sight of facts and it's only been one day.

[truthsabre7]

Hey umb you are a hack ( o yes lets blame Bush) Look BO wanted to be president and he said he can fix the economy. Well stop being a baby and grow up. You see I do not vote because it does not matter who is the president. I do not care for Bush or BO. But if BO spends money like he said he going to look out, your money will one day be worthless. Oh by the way BO just hied a lobbyist...he said he " ther are no jobs for lobbyist in DC.

[Umberto2]

Yes, let's blame Bush. You're the hack bro. Go ahead and be apathetic and not vote. Way to be. You can bitch and complain from the sidelines while you sit on your couch and blame taxes and unions for all your problems. You gotta spend money to make money - how do you think we go out of the Great Depression? By hiding in our houses and bitching?

[truthsabre7]

OK Umb..when your dollars are worthless and you need a million dollars to buy a loaf of bread go ahead and blame whoever you want.

BO has no clue on economics, and now the treasury sect is a tax cheat! O Yes this is good change. Just think id you or I did what Kiertner did where would we be?

[ferrozm]

Obamanomics will fail socialism always does.