[youtube]http://www.youtube.com/watch?v=1JSBhI_0at0[/youtube]
I’m already becoming conflicted with President-Elect Obama’s handling of the economic crisis. Now don’t get me wrong, I understand that he has very limited capability right now, for example, he is, for all intents and purposes, powerless within the executive branch of government at the moment.
However, what is the deal with his continued support of trickle down economics? Why is he supporting these blank checks to banks and crappy US car companies? Why is he still supporting this bullshit called “free trade� We have had 8 years of the worst, corporate driven economic policies ever to be enacted as policy, and President Elect Obama wants to give them more money to recover from the mess they created? He should take note and learn from Senator Byron Dorgan who proposes real democratic policies, not the same kinds of policies that got us here in the first place.
For those of you who saw “Who Killed the Electric Car†we know that had ford not pulled their electric car the USA and not Japan would still reign as the automobile capital of the world. Had these bankers not compounded their investments, the market would not have been so artificially inflated. Had these disgusting, predatory lenders not given houses to idiots who didn’t know any better, in an attempt to rip their life savings from them we would not have had a housing bubble. Perhaps my views are too simplistic for the taste of some readers, but may I remind you that we are living these things. Banks are collapsing, Detroit is set to become a ghost town, and we have tens of thousands of houses foreclosing a month. Why is Barack restraining the invisible hand which is posed to b*tch slap these crooks all the way back to reasonable economic policies.
I thought I was a member of a political party that put people before companies but that seems to be sadly not the case. The first thing I expected the Democrats to do was to enact a homeowner’s protection program, or at the very least propose one. And what happened to that national debt that we promised we were going to shrink, in part by ending the war? Suddenly we can’t throw money at companies fast enough?
I don’t like being negative about my party. But it feels like we are being sold out, once again, by our leaders in Washington, which is this time, being led by Democrats.
*the above video is a visual aid to display exactly what happens when Democratics are believed to be enablers of horrific economic policies. The youth become disenfranchised, minorities disengage politics and horrible Republicans are elected.
-Steve Perez
life is full of disappointments, steve.
maybe you should rein in your expectations.
barack can’t fix everything on day 1 (or day negative 65)
Your against a government bailout, but your against Bush free trade agenda.
You call recent home buyers “idiots” but you want these idiots to get a housing protection plan.
Please give more spefics on what you want the government to do for these idiots who bought houses.
hen you say, “I thought I was a member of a political party that put people before companies”
Not letting the Detroit automakers go into BK, keeps the court out of restructing all those union contract that keep the employees in the middle class. Sounds like being pro-auto bailout actually might be more pro-people than those bank bailouts we seen last month.
THen you said, “Had these disgusting, predatory lenders not given houses to idiots who didn’t know any better, in an attempt to rip their life savings from them we would not have had a housing bubble.”
Funny how nobody started calling them predatory lenders till things went south. Bush told Americans a few years ago that American homeownership was at the highest level and everybody, including Democrats agreed. Even Maxine Walters was cheering the record number of home ownership among minority Americans.
Sadly, Obama’s future cabinet member(head Fannie mae) was persoanlly raking in $70 million for creating a false American dream and everybody believed it.
Jose, Firstly you seem to be equating the success of free trade with government bail outs. I don’t have a degree in economics (yet) but one class in macro econ would tell you that your making a comparison akin to comparing Osama bin Laden with President Elect Obama. In short, that’s a ignorant comparison that makes no economic sense. Second, please dont put facts in my writing like you put facts in your head. I didn’t say people who recently bought homes are idiots, i said “idiots who didn’t know any better” That means, and was meant to refer to people who couldn’t afford the homes that had gotten. Yes people who make ill though-out mistakes are idiots, and yes I do support a housing protection plan, i know it might be hard to understand, but it is the only possible way for every party involved to come out ahead. People keep their houses, properties get maintained, they keep and start to grow their value, lenders cut themselves away from this debt that mired them, and the government gets the likelihood of a return on it’s investment. As for the rest of your comment, which I appreciate because it allowed me to elaborate on my blog, I don’t speak for public officials who had a lack of foresight to these economic variables.
Your right Steve. If the government gave the billions of dollars to home owners to pay off their mortages instead of all those companies. In return the home owners would have their houses paid off and the companies would still get their money. It is a win win situation all the way around. I know that I couldn’t say it better. Well said Steve.
To my anxious Liberal Bretheren:
We just won a historic Election. Many of you worked very hard at winning and deserve a pat on the back. However, let us not mess up a good thing ripping ourselves apart. Let us enjoy this rare moment and enter into an of good feelings that we now for the first time control the reins of the federal government. Clinton and Carter’s majority were teneous at best, however, let us not overreach and believe that President Elect Obama will be able to cure all of our ills in one swoop. Infighting and overreaching be our doom.
It is clear that the country wants our new President to fix the economy and that will be one of his main tasks. That fact that he is ready to close down the detention center at Gitmo and follow the rule of law regarding torture are things we should be happy about.
But to concur with the other posters, let give President Elect Obama time to put in place his team and his plan. There should be urgency in accomplishing this task but for it has been two weeks since the Election.
Let’s not mess up a good thing let’s enjoy this moment and be serious about solving the problem without destroying ourselves.
Duh, of course I’m not equating free trade with the bailouts. That’s you say an “igorant” comparison on your part.
You should read with what you write and try to apply the what you believe should happen(give specifics)
How do people keep the houses? The government pays off these “idiots” houses off or what. Cool! Where do I get in line for my own iresponsibility?
Do the people who rented the last years get some sort of relief because they were not “idiots” and did not fall for the predatory lenders con? Do they get a bailout as well?
Jennifer
How do you get a “win win” situation when someone who shouldn’t even have been in a home all of sudden get’s a handout and someone who rents get the bill?
Moreover, now that the government has intervened and slowed the high cost of home, as compared to househiold income, how fair is it for the millions of people waiting for houses to become afforable?
I’m confused with you Steve, you been watching to much Hanna Montana, “you want the best of both worlds”.
Meet the new boss
Same as the old boss
There’s nothing in the street
Looks any different to me
And the slogans are replaced, by-the-bye
And the parting on the left
Is now the parting on the right
And the beards have all grown longer overnight
I’ll tip my hat to the new constitution
Take a bow for the new revolution
Smile and grin at the change all around me
Pick up my guitar and play
Just like yesterday
Then I’ll get on my knees and pray
We don’t get fooled again
Don’t get fooled again
No, no!
From The Who – “Won’t get fooled again”
Obama has not even been sworn in yet and he’s already failed you? This is more complex than I think you let on. Bush still has veto power no matter how lame he may be as a President. And letting the big three fail has economic consequences that none of us could quite grasp until it actually happens.
Ultimately our car makers failed to innovate and give us what we wanted. Why not use this as an opportunity to leverage priorities that Detroit should have taken on years ago. We bail you out and you start making cars more reliable, fuel efficient and affordable for the American consumer? (Universal health care has to be part of this so that the cost of health care is not passed on in the cost of a car).
We need to keep manufacturing in the US and I believe using money from the already approved bailout fund is an actual good use of these funds.
Steve, I sure wish y’all had seen Obama’s empty promises for what they were before you turned out to vote! The man promised first and looked into feasibility second. But you elected him…and now the rest of us have to live with him. Heck, the man cannot even keep his promise of a dog to his own kids. (I know the guy has been busy, but surely someone on his staff could research the existence of hypo-allergenic dogs?!) As a parent I would never tell me kids I am going to give them something as a reward without making sure I can pull it off. But Obama did it, to his daughters and his country.
Lovable Curmudgeon, Obama has not had time to implement anything, but he is already in the press admitting he cannot keep his promises. Yeah, I would say that is letting us down already. (see, I can post about something other than Lorri)
Steve, I recall you being against corporate welfare when it came to a Disney deal (that turned out to not benefit Disney and actually made economic sense) but you are OK with bailing out homeowners who knew they could not afford their homes? As these “lenders cut themselves away from the debt that mired themâ€, who is it that cuts away that debt? That would be us, you and me. The money does not appear out of thin air. Government does not create anything, they simply take from the paycheck you pick up from that new job (congrats by the way) and under Obama you will see much, much more coming from your check to pay for programs that benefit people who in large part made poor life choices and now expect the rest of us to bail them out. Everyone from over-extended mortgage holders to the Big 3 in Detroit have their hands out, knowing that our new liberal President-Elect has no problem taking from those of us who produce to give to those who do not. Thanks. But since Obama has now changed his tune and is not giving to the unproductive sector of your choice, now it is bad?
Sorry, I am raining on “We Just Wonâ€â€™s parade, by all means let’s all hold hands and sing KumBaya in the streets because we elected someone promoting the biggest give-away in American history.
As far as the Big 3, they failed because they refused to produce cars Americans want to buy (says the owner of a bahonkin’ SUV) but the bigger reason for their failure is they continued to produce cars that do not sell by employing union workers at inflated wages with outrageous benefit packages. And even if they shift gears and produce different cars, they are still being built on union packages, and their bloated budgets will ensure that they cannot compete in a global market. Until the Big 3 dump their unions they will never make it, no matter how much corporate welfare they are offered. (Uh-oh, now I am sure to have my ISP blocked by the moderator)
Your asking who is Barack Obama. My I suggest: http://www.LaRouchePub.com > “Your Enemy, George Soros” > “George Soros Buys the Nomination, Obama Borrows It” page 17.