Thursday, Feb 12, 2009
Telling it like it is.
Telegraph: Barack Obama and Tim Geithner rob Main Street of $3 trillion
"The sparkle has gone from his eyes already," an American acquaintance said to me yesterday, referring to Barack Obama. "He doesn't know what to do." Obama's performance at his press conference confirmed that impression, with the rhetoric of the campaign trail, fluent and banal as piped musak, replaced with long hesitations not just between sentences, but between clauses. This was an auto-cue junkie suffering cold turkey.
Posted by flintster1994 @ 01:27 PM (1250 views) Add Comment
17 Comments
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1. mountain goat said...
Yesterday in the FT Martin Wolf: Has Obama already failed?. "It is extraordinary that a popular new president, confronting a once-in-80-years economic crisis, has let Congress shape the outcome. The banking programme seems to be yet another child of the failed interventions of the past one and a half years: optimistic and indecisive."
2. Mrs Boodle said...
This is simplistic right wing propaganda.
3. letthemfall said...
I'm not sure it is that Obama does not know what to do or that he is just an orator and no more. It is more likely to be a reflection of the paralysis of the system of govt faced with this situation - which is a lot more serious.
4. Crunchy said...
As I have said before, Obama the came from nowhere puppet backed by Wall St. Look at the people he has chosen to suround him. Enough said.
5. Amos said...
These people want Obama to fail.I hope he succeeds because the alternative is too awful to contemplate.
6. Mym said...
Absolutely letthemfall, the US system is specifically set up to prevent quick changes.
7. iguana said...
None of the above, it is simply that now he has been shown the true extent of the financial quagmire, the bits that he understands have left him speechless - the bits that he will understand soon will frighten him s@@tless.
8. techieman said...
posion chalice im afraid..
9. timmy t said...
There isn't anyone on the planet that knows what to do so there's no point criticising him for that. IMO Obama is the best thing to happen to the US in living memory - anyone who thought he could come in and fix this quickly simply doesn't grasp the scale of the issue.
10. penbat1 said...
timmy t - there are advocates of the Austrian School of Ecnomics such as Peter Schiff, Ron Paul and also JIm Rogers who advocate just letting banks fail and no more bailouts as it is the debt itself which is the root cause of the problem and increasing the debt just makes it worse.
However that would cause short term severe pain but a good chance of a quickish recovery - but that option is difficult to sell to the general public and the VIs such as real estate agents and finance chiefs wouldnt like it.
11. jack c said...
Obama has it easy at the moment - if he really wants it tough he should take the job at Newcastle United FC then he'll find out what an impossible task really is.
12. penbat1 said...
Obamas economic advisers are largely VI folk such as ex Goldman Sachs and no one in the Peter Schiff mould.
13. plato said...
techieman @15:50, provides the perfect description.
14. mountain goat said...
Jim Rogers has his outspoken opinion.
15. layers said...
Agree with Crunchy. Obama talks about changes yet surrounds himself with the same wall street and pentagon hawkes who are more pro-Bush type policy than the previous administration. Don't be taken in by his great oratory skills but judge him by the company he keeps and the decisions taken - and so far NO CHANGE whatsoever. Look at joe biden, a self-confessed zionist israeli for crying out loud. What's the alternative? Scrap all taxes, suspend mark to market accounting and force the banks to stop repossessions imo.
16. Camping said...
hes a roman catholic,where does the self confessed zionist israeli crying out loud appear from?
17. layers said...
@16 - Camping. No he isn't and the self confession is on youtube: http://www.youtube.com/watch?v=yAZmO80dLfE