Obama is retarded?

agreed obama is fail


anyone who agreed to all that bailout crap is huge tool

On March 03 2009 14:45 capaneo wrote: As some of you know I dont visit this site anymore and I have a blog some other place and this is a copy of my last post there: Obama and his dumb economic plan is going to be a huge disaster for economy of not only us but the whole world.

Didn't know he was elected president of Canada too

triple agreed.

Not going for the bailouts would equal political suicide.
It would be nice if the goverment allowed market clearing which is the best option in the long term, but they simply can't do it for the sake of politics.

And as for the investment package... As long as there won't be excess bureocracy (Like in 1960 with the road plan that was awfully innefective in the US due to lack of regulation and coordination and effective plan) its a great opportunity to start future growth of the US While also complementing mr Keynes's laws.

Inflation is not an issue at the moment at all. When the crisis is over you will end up with the biggest deficit since the deppresion, which will still be manageable though, inflationary pressures re-emerging, but on the other hand big amount of capital investment that wouldn't happen without the crisis (And US Needs it a lot!)

I don't know much/anything about economics, but in general doesn't bailouts just lead to postponing the crash/problem? Ending with you having the same result as before but with a bigger loss. If something drastic doesn't happen I don't see why anything else would happen.

the bailout saved the US and the world from a 1929esque depression... he was stuck between a rock and a hard spot politically and economically

pray?

On March 03 2009 15:05 barbieman wrote: I don't know much/anything about economics, but in general doesn't bailouts just lead to postponing the crash/problem? Ending with you having the same result as before but with a bigger loss. If something drastic doesn't happen I don't see why anything else would happen.

It leads to postponing yes, but if you believe in the theory of business cycle (and in mature economy like the US it happens with the same certainty as my retarded tilts), than you count on the economy to bounce back and to be overly optimistic once again in 2-5 years (5 would be an extreme).

The banks which are thriving for sufficient capital right now will have the opportunity to survive and restructualise.
Look what happened only because of Lehman, the market sector went into chaos mode. Now imagine the impact of the fall of Citigroup( Which would go under without intervention). Majority of banks would crash, businesses that rely on credit would have distorted cash flows and go under as well and whats worst for goverment, people would lose jobs in masses which is what goverment is afraid of the most.

Sure you can't save banks with stupid business model which no intervention can improve (Like Lehman), but there are institutions that are worthy of rescuing and they have a good chance of turning their models around and come out as victors when the economy rebounds.




From modern economical Friedmanist view, if you ignore all politics and believe in the equilibrium of the economy and the 'invisible hand', than you would let all banks go under, have some minor 40% unemployment and let only the strongest and best suited players survive, and wait for the new banks and companies to start with a fresh effecient business model.
Nice theory, but no states are driven by economists.

On March 03 2009 14:45 capaneo wrote: And cut interest rate! So basically he is trying to encourage people to go borrow and spend! He is encouraging the same exact behaviour that got us into this mess!

Hes cutting the interest rate to lower the weighted average cost of capital for all companies in the US, increasing their profitability, share price, and most importantly giving them cheaper access to capital with which to employ more people & be productive.

dunno what u've read but u should :
read about one side of the problem
then read about the other side
reevaluate

I agree with Jamie there really wasnt a "win" option here so ...

then again i doubt i've read as much as u on this issue but still dont think there was something way better to do

The arguments on the other side is just soooo beyond reality stupid and Fayth based that has zero credibility.

I didn't know Fayth was an economist that people based their arguments on!

=)

On March 03 2009 15:08 Jamie217 wrote: the bailout saved the US and the world from a 1929esque depression... he was stuck between a rock and a hard spot politically and economically

uh...no it didn't....

companies that got rich and lazy on free market capitalism can die by it too imo.

the fact that things would supposedly be so bad without select banks (which i don't believe) shows lack of competition issues that were never addressed.

Also instead of bailing out banks and going socialist there were other better options but the bottom line is the people who run the banks run shit in the government also and thus got their money

On March 03 2009 15:22 Fraser wrote: Show nested quote + On March 03 2009 14:45 capaneo wrote: And cut interest rate! So basically he is trying to encourage people to go borrow and spend! He is encouraging the same exact behaviour that got us into this mess! Hes cutting the interest rate to lower the weighted average cost of capital for all companies in the US, increasing their profitability, share price, and most importantly giving them cheaper access to capital with which to employ more people & be productive.

No one is loaning anything cause people dont have any good capital/saving left. Everyone's in debt. A debt that can not be paid back. There is no money in good productive hands cause the resources are going to AIG and GM!! And whats Obama's genius plan to this solution. He wants everyone to borrow more!
look at the stock market. It is crashing because everyone is tryig to get the out.

Also. When I write us it sometimes means US and sometimes means us. And there is almost zero difference between whats going to happen to Canada and to the US in terms of biz. Only difference is that ca is following us.

Didnt Ron Paul said this way before he got elected?, Obama is no change it was just a mirage, he has the same economic and foreign policies as Bush.

On March 03 2009 15:56 Baal wrote: Didnt Ron Paul said this way before he got elected?, Obama is no change it was just a mirage, he has the same economic and foreign policies as Bush.

Yes, in fact, pretty much all Austrian economists have been saying this stuff for years. Politicians don't want to hear it, they have no incentives to actually solve the problem. All they want to do is pass money off to their politically corrected friends and act like they're doing all kinds of good.

http://www.lewrockwell.com/orig9/schiff5.html
http://www.lewrockwell.com/rockwell/stimulation-by-government.html

Both of those are excellent articles on the subject.

On March 03 2009 15:44 traxamillion wrote: companies that got rich and lazy on free market capitalism can die by it too imo. the fact that things would supposedly be so bad without select banks (which i don't believe) shows lack of competition issues that were never addressed. Also instead of bailing out banks and going socialist there were other better options but the bottom line is the people who run the banks run shit in the government also and thus got their money

None of the companies that got bailed out "got rich on free market capitalism." They all benefit from the Corporatist/Semi-Fascist state of the US, which doesn't resemble anything like a free market. Should they be allowed to die? Hell yes. But to ask for further government oversight over the issue will only cause more problems. Please, however, stop trying to spread the myth that this was caused by markets being "too free", or that capitalism is the problem. Both of these arguments are demonstrably untrue, yet easily believed by the uninformed, and provide further ammunition to the politicians who rule our lives to further remove personal liberty.

yeah.....doomed we are. i miss you cap wtf come back to LP

On March 03 2009 15:04 LemOn[5thF] wrote: its a great opportunity to start future growth of the US While also complementing mr Keynes's laws.

this doesn't have much to do with Keynes' actual teachings, just the fake politicized bastardization of economic theory used by the Pelosi Dems to push everything they want through Congress

yo capa.. on what forums are u now and why u are not posting on lp anymore ? : /