Oracle CEO Predicts Prolonged US Economic Recession

[elvis32z]

Clicked b/c the thumbnail looked like he was doing a 'water pipe' hit. ya digg?

[IHSchwingo]

Funny thing is they tried to open the insurance company marked therefore increasing competition therefore lowering prices. But Obama turns out to be another corporate whore dropping a bunch of good bills. Its just your whole system that is corrupt having companies to pay election campaigns etc. Btw. socialistic systems work just fine all over the world, just look at states in N. Europe etc..

[glennd7962]

He's typical of so many corporate capitialists. He has an understanding of economics, to the extent that he can make many doing to, but fails to understand the financial system and the role government monetary policy plays in it.  The root of the consumer economy is monetary policy by the fed - loose credit and other inflationary policies which made it beneficial for consumers to hold debt. How else could you participate in asset bubbles?

[WellIAMScottish]

I seriously wonder why a flood of stupidity floods the comment section every time a pro-female comment enters the forum?

[Gkklein]

He'd better keep his day job.

[ProNorden]

A working economy can't be based on consumption, money-lending, and governmental extortion.

You have to restore your manufacturing base.

Each Nation should 'be it's own best market first'.

Restore the National Tariff / Import Tax for fair trade.

[spanishaustralian]

this guy is a dumb fuck. voting for obama. socilism does not WORK it errodes any society that adopts it.

[awgu]

YOU are the dumb fuck. You spelled, 'socialism' wrong, you stupid piece of shit. Please move to another country, we have no use for unemployed retards like you.

[spanishaustralian]

its a typo idiot. so i gues you support the socialst programs obama is pushing? i guess you reject what you americans inherited over 200 yrs ago. a government that protected free market capitalism and rejected socialism. you fagot.

[Saktoth]

You mean 20 years ago. You are talking about reaganism.

[spanishaustralian]

reagan too but mostly what reagan inherited he tried to protect it to a degree.

obama hasnt a clue what he is protecting he just thinks social programs are whats needed. not realising they lead to socialism and a poorer country.

everyone supports him cause he looks sincere but that wont get them what they need. they are sheeple.

[monkeybudge]

Have you ever considered that maybe people before profit is a good thing ? I am not saying thats entirely what i think but You cant just call people "sheeple" because thay have a different world view to your own

[spanishaustralian]

people before profits is a very bad idea. what your saying is socialist. socialism does not work man its whats killing america the socialist have camped in america and they are throwing whats left of capitalism out the window. the socialist are invading america through there own political system its like a disease infecting a human. america is infected and will die if you dont bring on the cure. capitalism has cured the human race from tyranny.

[monkeybudge]

"Socialism does not work" . Thats not true , it just doesn't work the way you want it too work , there are good parts to socialism . Its not all just black and white !

I personally want a free market but some things should be for the people by the people i.e Fire dept , police , healthcare and education. Squeezing profit out of everything is not a good idea

[spanishaustralian]

well perhaps some socialism is needed but the free market must be encouraged as much as possible. have 90% market and 10% federal government. state power should be more than fedeal. local should have more power than the state. you dont want big powerful governments they will be milked..

[Saktoth]

Yet, the person responsible for Americas current state, indeed, perhaps the whole WORLDS economic downturn, is Bush's administration.

[spanishaustralian]

its more than bush its the monsterous beaurocratic machine its got tonnes of inertia its like a flywheel in a motor engine. obama has hundreds of advisors its hard for a man to go against 100's of people advising him. or the hundreads of lobbyist bombarding the leaders with gifts money and women. the political machine is corrupted. blaming bush well yes he is a DH but its bigger than him. support Ron Pauls bill to audit the federal reserve its the main engine of this engine. its the antidote

[GOPsithlord]

Keep in mind the point here is that Oracle has offices and factories in China: their money is spread out, so I don't think they're going to have to worry. The American consumer will most certainly worry however for the very reasons this man predicted.

[Paulsur]

Ellison is supposed to be a genius, but he is surprised by the irresponsible spending and socilization by Obama??? Did he not nother to do any homework on Obama before he voted for him? This man is no genius, he is an idiot.

[awgu]

YOU are the idiot.

You fucking loser.

[MrRightAllTime]

we need more wars to create jobs, alot of people go to die

[ILoveGoodFellas]

3rd richest man on earth speaking, listen up, lol

[truthadvocate]

I'm supposed to listen to a guy who voted for Obama, supports universal healthcare, and recommends protectionism? This man is a disgrace. The policies he supports might make life better for a few CEO's but they will make life miserable for hard working tax paying Americans.

[awgu]

You are a disgrace and a fucking loser. This man is much smarter then you, hence his vote. Only retards, fucking losers like YOU voted for McCain/ Palin. You make NO MONEY and you are fucking nothing. Remember that.

[truthadvocate]

I did not vote for McCain / Palin.

Why do you think voting for Obama was smart?

[prosvjeta]

1:00 establishment always blames it on the people. american consumer has been forced to go into dept, becuase of the foolish wars and BAILOUTs for the banks. but still, that's nothing to compare to the DERIVATIVES.

does any wisenheimer that educates himself on fora tv know what derivatives are?

it's going to be L, because of the derivatives not because of the americans or chinese.

watch this coz it's enlightening

watch?v=RTYizzdHAXM

[charleshoskinson]

The American Consumer has been forced to go into debt? So when they lived well beyond their means, this was because of Iraq? Get some fucking sanity you liberal wackjob

[kmardes]

maybe if you tell your fat sister to get off the remote to change the channel from fox, you might learn something

[Keylimedelight]

The picture of this clip looks like "Oracle CEO Takes Massive Bong Hit".

[baguazhang2]

hahaha, you're totally right!

[humanist7117]

These are not expenditures but rather investments.

[Keylimedelight]

GM was an investment?

[humanist7117]

Yes!!!!

[InTheSticks1881]

He's giving us the soft version. It going to be the Greatest Depression and we'll see massive fundamental changes. Not only is the consumer heavily indebted, but the government is hopelessly indebt. We'll pay for it though rising consumer prices at a time when there are few jobs and very tight credit.

Look up Peter Schiff. It sounds as if Larry Ellison has...

[KeeperOfTheWord]

Not for five years? You can't POSSIBLY be serious! We'll be doing well to pull ourselves out of the hole before several lifetimes pass. Are you surrrre we've hit bottom yet? I'm placing no bets.

[arcanist9]

Remember that giving everyone free health care doesn't mean that they're going to receive the same quality of care as would someone who was insured or who payed out of pocket. It also doesn't imply that they will be able to choose their practitioner. We'll likely be drawing lotteries for who gets the surgery like Canada and the UK does. Universal care may work for countries like Sweden, but they don't have 300 milliion people to care for.

[CosmosPrivateer]

WOW a CEO that's worried about the economy and never mentions getting out of the wars.

Its not about the economy its about the unconscious mind. Its about how we treat each other thats screwing it all up.

[TABOOVSKNOWLEDGE]

How about an i shape recovery!

[MegF142857]

In debt from spending on Oracle licenses.

[caifan111]

In debt from spending on Penis pumps.

[MegF142857]

We spent a bunch of our business money on your too expensive Oracle licenses. Sigh! ARRRRRGH!!! Hope you enjoy your nice yacht. -- You charge too much for your database licenses, which has hurt our ability to see our product. You jerk!

[Mastikator]

Switch to MySQL? Or Express. Both free of license.

But yeah, Oracle is way too expensive. If they were smart they'd create a light, cheap version of their database :/

[portantwas]

I can't see at the moment how we capitalism based mostly on consumerism can come back at this time. Even saying that China and India will increase their domestic consumerism (by having a growing middle class) isn't going to help the west much - in fact, they won't need us hardly at all! And don't even talk about the environmental impacts...

And I think he is wrong on CO2 emmissions and China. The US is still the largest producer.

[ThinkingLeft]

let's steal from the rich

[NeedsEvidence]

let's kill'em...

[voyeurdug]

The "huge" spending is in four packages so far, and even the first that hasn't been fully spent already has had some ($70 billion) come back. The other three are just starting to get rolling and will be spinning out for some years.

If the spending packages were 90% expended, and had only a few more months to run, this guy's view would make ~some~ sense. Not much, but some.

[JAROSLAVAGINA]

the problem is the spending packages are not going to fix the debt problem the U.S. has, as Ellison states. He also states that, as spending has experienced a huge surge over the past year, taxes will have to increase. if they don't, more money will have to be printed, thus stalling further debt repayment. if taxes are increased, thats less money to be put towards paying off debt...

he may be correct more than we would like to admit...

[mrzack888]

he has large ears.

[thane17]

This loon is surprised by Obama's spending?!?!?

He doesn't know anyone who is against Socialized Health Care?!?!?

Where the hell has he been???

[dollaresque]

Well over 60% of the US public is for the Universal Health Care. Even higher percentage of college-educated professionals are for it as well. Being that he probably spends his time with more educated people who also have true compassion, it's no surprise he wouldn't know anyone who is against the care we need to better our lives in America! Who's the loon now?

[ruddip]

can you tell me where you found out this information about 60% of the US public?

[dollaresque]

Well, informed public has its ways of getting the information? It's really really secret how people who live in the 21st century obtain information on polls and opinion research. I am lucky enough to be in the legal field, so these polls are available to me, though I hope you pick up on the irony here. Do a simple research even online, read multiple sources, do your own averages and throw some foreign network reports (like BBC) and come up with the info you need to talk about the issue. Enjoy :)

[nocturnalc]

Yeah, I believe a bunch of "public-educated propaganda professionals" with their amazing ability to help drop our educational standards and our general ranking with the rest of the world. Especially within subjects of substance. Let's all conform and be the same lowly standard of excrement that they want us to be. And if we don't want that, they'll point guns at us. Liberals think they are so "compassionate" because they think they can solve the world's problems by the point of a government gun.

[DCLugi]

@nocturnalc  The concept of the Gov/Gun is so accepted and ingrained that most people don't even consider it.

[Reido2828]

@nocturnalc

And conservatives do a great job pretending to be true constitutionalists by taking away liberties for false threats and bailing out bankers who in the end caused the problem and got them rich in the process. Its hypocrisy which is what America is made of now. Your all confused about everything. Did jews blow up the WTC? Illuminati are plotting world domination? Muslims hates us because of our freedoms? All these questions show your a nation on its knees and as a Canadian i'm sad 4u

[nocturnalc]

@Reido2828 I don't really worry about all the conspiracies. I just focus on having real relationships with others that see the gun in the room and disapprove of its use for "moral purposes". I am of no real interest in somebody else's morality let alone morality legislated by psychopaths. I do payoff the mafia to keep me out of their rape room prison systems, but that's the extent of my relationship with the state. I'm only focused on voluntary interactions & things I have control over.

[Reido2828]

@nocturnalc

Ok then why can't americans vote for a proper politician? There are some in your country who have the answers maybe not the 100% right but its good enough to help get you back to the old american way of life and old american values. Why can't anyone see it?

[nocturnalc]

@Reido2828 I don't condone the smaller more stripped down forefather's statist system either. We can probably all agree that there is something fundamentally wrong with the system that's in place. But most people are reluctant to move on from statism due to built in fears from external sources (media, school). It's kind of like an electric fence that keeps the dogs from running out of the yard and to the land of plenty. Voting gives sanction to this violent system. It will never work.

[Reido2828]

@nocturnalc

Would you support Ron Paul? Or go for your civil liberties instead of a President that promises more stability in the middle east?

[nocturnalc]

@Reido2828 And I apologize for my choice of words. The so called delusional conservatives think that they too can solve problems in society with government force & coercion. Hence, the mass genocide & dislocation of millions.