Obama's "New Stimulus" becomes old hat

deanhills · Jun 9, 2009

Obama is facing serious decline in public opinion about his handling of the economy. 1.6 million jobs have been lost since he signed the stimulus package in February. I'm still wondering also what happened with all the undertakings of the 1.2-trillion package to the Banks. I thought that the Banks would be helping to get money through to the street?

DodgeFB · Jun 9, 2009

deanhills said:
Obama is facing serious decline in public opinion about his handling of the economy. 1.6 million jobs have been lost since he signed the stimulus package in February. I'm still wondering also what happened with all the undertakings of the 1.2-trillion package to the Banks. I thought that the Banks would be helping to get money through to the street?

I don't know what is going on.

U.S. to allow 10 banks to repay TARP money: report

http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE5580IF20090609

deanhills · Jun 10, 2009

DodgeFB said:
I don't know what is going on.

U.S. to allow 10 banks to repay TARP money: report

http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE5580IF20090609

Thanks for the article. I'm totally baffled by this. I would have thought they would have done something like this before the got 1.2-trillion approved. Not good at all. Where is the full and open information that Obama promised everyone?

DodgeFB · Jun 10, 2009

deanhills said:
Thanks for the article. I'm totally baffled by this. I would have thought they would have done something like this before the got 1.2-trillion approved. Not good at all. Where is the full and open information that Obama promised everyone?

There is what Obama "says" and then there is what Obama "does".

I think his chickens will soon come home to roost. Every speech he makes he blames Bush. Fair enough. But soon "his" decisions will show up. It is a shame this country will pay the price for his ego trip for decades.

myp · Jun 11, 2009

The transparency thing was definitely just a political ploy, as I have not seen anything more open as he had promised. Really a shame...

As for TARP, the reason those companies don't want the money is because the regulations that the Obama administration is putting on the TARP is actually hurting the companies more than had they not accepted it in the beginning. It just shows more of this administration's short-sightedness.

And the stimulus certainly isn't working as they planned either. Check out this graph- the blue was all made by the administration before the stimulus was passed and the red is actual unemployment data. We are in a worse situation with the stimulus than what they had predicted without it: http://c2.api.ning.com/files/JZlFF0...YvOc6X/stimulusvsunemploymentmaycorrected.gif

DodgeFB · Jun 12, 2009

I am sure some car dealers and their workers wish they never heard of Obama.

myp · Jun 12, 2009

DodgeFB said:
I am sure some car dealers and their workers wish they never heard of Obama.

As do many corporations- especially in the financial sector- do also. If more people understood economics, his approval ratings would be even lower because they would realize that a lot of his policies are disastrous in the long run and perhaps more importantly they would see how shady and dangerously powerful the Fed is.

curious · Jun 19, 2009

myp said:
As for TARP, the reason those companies don't want the money is because the regulations that the Obama administration is putting on the TARP is actually hurting the companies more than had they not accepted it in the beginning. It just shows more of this administration's short-sightedness.

http://c2.api.ning.com/files/JZlFF0...YvOc6X/stimulusvsunemploymentmaycorrected.gif

I don't think it is hurting the companies, it is hurting the executives bonuses. And the reason many of them are giving is that they really didn't need the money in the first place. Well, then, since these were among the smaller banks, my understanding is that they didn't have to take it. So where is your moral outrage at these upstanding companies taking money from the American taxpayers just because they could?

curious · Jun 19, 2009

DodgeFB said:
I am sure some car dealers and their workers wish they never heard of Obama.

Do you really think that these companies would have survived if the government hadn't intervened? GM, instead of being restructured, would have just shut down. Then all the GM car dealers would be closed, along with all the Chrysler dealers.

I'm back only a few minutes and it seems everything is Obama's fault. GM went under because it is a case study in bad management.

DodgeFB · Jun 20, 2009

curious said:
Do you really think that these companies would have survived if the government hadn't intervened? GM, instead of being restructued, would have just shut down. Then all the GM car dealers would be closed, along with all the Chrysler dealers.

I'm back only a few minutes and it seems everything is Obama's fault. GM went under because it is a case study in bad management.

I really don't think everything is better just because Obama "reconstructs" it.

Chrysler is already out the door and gone to another company. And who knows what Obama will do with GM(Obama Motors). Between Obamma and his crooked friend (Geithner) nothing is safe. Might as well be Obama National Bank. Obamawide Insurance. If he sticks his heavy hand into everything he will and should be blamed for what happens. He is just another guy on an "ego trip". And we all know they are a dime a dozen in this world.

curious · Jun 21, 2009

I didn't say everything was better. But you are full of sympathy for the car dealers who are losing their franchises. I just pointed out that instead of some losing them now, they would all have lost them now. I think they will all lose them eventually.

I must admit that I'm surprised you have so much sympathy for a group of multi-millionaires.

DodgeFB · Jun 21, 2009

curious said:
I didn't say everything was better. But you are full of sympathy for the car dealers who are losing their franchises. I just pointed out that instead of some losing them now, they would all have lost them now. I think they will all lose them eventually.

I must admit that I'm surprised you have so much sympathy for a group of multi-millionaires.

I have sympathy for anyone that has owned a business for 40 years that has the rug pulled out from under them. I don't think in rich or poor. I think in right or wrong for anyone. If any or all of them lose what they have let them do it on their own. Not have some bureaucrat wipe them out with the stroke of a pen.

curious · Jun 22, 2009

It's their employees that I feel for.

I think there is going to be another big drop in employment when the state and city governments face reality and really get into cutting. That will then reduce their tax revenues further. I'm afraid it will work like a deflationary spiral.

DodgeFB · Jun 22, 2009

curious said:
It's their employees that I feel for.

I think there is going to be another big drop in employment when the state and city governments face reality and really get into cutting. That will then reduce their tax revenues further. I'm afraid it will work like a deflationary spiral.

Oh oh!

This time we agree!

The windows at our local GM dealership are "soaped up". Not a car in site.

I don't have any money, but if I did I would buy a Ford. Our Ford dealership is going strong. And for the record, my car is a Chevrolet and my truck is a Dodge.

deanhills · Jun 23, 2009

DodgeFB said:
Oh oh! This time we agree! The windows at our local GM dealership are "soaped up". Not a car in site. I don't have any money, but if I did I would buy a Ford. Our Ford dealership is going strong. And for the record, my car is a Chevrolet and my truck is a Dodge.

Thanks for your advice. I've seen Ford presence picking up here in the Middle East too. Toyota is still No. 1 by far, bu Ford is picking up in market share.

Obama's "New Stimulus" becomes old hat

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