Did Obama "Save Us From A Depression?"

[SufferedMoreThanJesus]

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I don't know a single person who has lost their job.

Neocon Ratbastard Lies because:  Racist!!

[Pepsi]

I think a lot of the saving from depression happened in 2008 when the banking and credit system was on verge of collapse, and Bush/Congress got through $800 Billion TARP.   Read a book about what happened if you're not informed.    Things were still falling when Obama came in.   Let's see, GM and Chrysler would be history with their hundreds of thousands of jobs if he didn't take action.. The real estate market was still falling fast, that situation has stabilized but not improved much.     The  is no doubt the stimulus helped save a lot of public sector jobs and increased some demand in the private sector - not enough I would say to turn things around fast enough.    Recall the last time a depression really came and the long hard climb it was out of that hole.   Obama has helped stabilize a very bad situation he inherited, and he is prevented from doing more with the retransient republican congress - who, by my reading, don't want to give him the tools he needs to improve the economy more, less he get re-elected.

[Malone22]

I often wonder if the president has any power to ruin or save a country...

[makesenseplease]

http://news.yahoo.com/blogs/lookout/obama-gop-plans-inadequate-scale-lesser-depression-report-193617610.html

[ivanm]

People criticize TARP and the bailout of GM, but what would it be like if the feds had not tried to ease the pain?  Yep, those greedy banking bastards need to be thrown under the jail, but had the banks went under then commerce would have been hurt more badly than it was because big companies live on short term and longer term credit from banks.  Borrowing from a bank is probably cheaper than issuing bonds or more stock, for the short runs.

I would prefer that the feds stay out of the private sector, and the recent bankdruptcy of the solar factory is typical of how politicians and bureaucrats
can gum up the works and  cost the taxpayers a wad of money, but there are times when government bailouts are the last resort.  Who else is stupid enough to buy white
elephants and dead horses?

[Pepsi]

http://news.yahoo.com/blogs/lookout/obama-gop-plans-inadequate-scale-lesser-depression-report-193617610.html

from the article:

But nor do the authors see reducing the federal deficit--the issue Washington has spent much of the year focused on--as a key part of the answer. In an interview with The Lookout, Alpert described the fears over the deficit as a "red herring that is dangled before much of the American people."

agreed!

[ivanm]

from the article:

But nor do the authors see reducing the federal deficit--the issue Washington has spent much of the year focused on--as a key part of the answer. In an interview with The Lookout, Alpert described the fears over the deficit as a "red herring that is dangled before much of the American people."

agreed!

Wow, those clowns must balance their checkbooks differently than I do.  Hey guys, no sweat, we will just borrow ourselves out of hock.   The old "public investment" bullshit.

[Pepsi]

Wow, those clowns must balance their checkbooks differently than I do.  Hey guys, no sweat, we will just borrow ourselves out of hock.   The old "public investment" bullshit.

It's not as simple as that.   Tell me what got this country out of the great depression, ultimately?

[SufferedMoreThanJesus]

People criticize TARP and the bailout of GM, but what would it be like if the feds had not tried to ease the pain?  

Unknown.

Time after time in our history, government intervention has rarely been a good thing...especially when it comes to the matter of private business.

[SufferedMoreThanJesus]

Tell me what got this country out of the great depression, ultimately?

Hitler and The Emperor of Japan.

[Pepsi]

Hitler and The Emperor of Japan.

Right.. iow massive US gov't spending.. (having the war fought on Japan/Russia/German soil which destroyed their factories also helped the post-war boom)

[SufferedMoreThanJesus]

Right.. iow massive US gov't spending.. (having the war fought on Japan/Russia/German soil which destroyed their factories also helped the post-war boom)

Maybe this is why Obama isn't opposing the Iranians from developing nuclear weapons.  He anticipates they will launch them against all non-Muslim countries and we will enter World War III.

Crazy like a fox if he's right.

All those people at Wall Street complaining about not having a job?  Problem solved.  Plus they'll get to travel free-of-charge to go to exotic countries and kill the natives.

Mood:  Excited!!!

[IM2]

Time after time in our history, government intervention has rarely been a good thing...especially when it comes to the matter of private business.

Totally untrue. I suppose you would not mind working for Carnegie Copmpany, Rockefeller Inc, or J.P Morgan Companies, one of them would have ended up being in total control of everthing in this nation if not for anti monopoly laws passed by the government.

[dustup]

Totally untrue. I suppose you would not mind working for Carnegie Copmpany, Rockefeller Inc, or J.P Morgan Companies, one of them would have ended up being in total control of everthing in this nation if not for anti monopoly laws passed by the government.

One of the RARE times.....

[Pepsi]

Government regulations put in place after the Great Depression (like Glass–Steagall) loosened and repealed in the 80s and 90s and look what happened: Savings and Loan crisis, financial sector collapse in 2007-8..