Obamanation is slowly and painfully grasping a few economic things. It's kind of painful to watch them grapple with issues, like watching children of below average intelligence struggle with something really basic....'getting it' for a moment and then finding themselves struggling in confusion again.
If you're kind of impatient like me, at some point you just want to b-slap the kid and say, 'look dumb-ace, 2+2=4 because 2+2=4....there's nothing else to understand, that's just the way it is....quit eating your boogers.' It doesn't do any good to slap him around, because the reason he doesn't get it is because he's stupid.
anyhoo....like I was saying, it's kind of funny to watch Obamanation grapple with the economy...or it'd be funny if it weren't going to end up so painful.
obama the chief prick
Quote:
... “We know that an economy built on reckless speculation, inflated home prices and maxed-out credit cards does not create lasting wealth. It creates the illusion of prosperity, and it’s endangered us all,” Obama said recently.
But what Obama rarely says about ending the “cycle of bubble and bust” is this: He’s prepared to intervene to make sure that kind of red-hot growth doesn’t occur.
And he’s willing to do it with added government regulation if needed to prevent any one sector of the economy from getting out of balance – the way the dot-com boom did in the 1990s and the real-estate market did earlier this decade.
According to Austan Goolsbee, a key Obama economic adviser, the president plans to focus on stopping bubbles along with preventing busts. And in an interview with POLITICO, Goolsbee said the administration will be on the lookout for new bubbles, like the tech stocks or housing prices.
If new threats are spotted, he said Obama would use “regulatory oversight to prevent guys who want to make a quick buck from doing real harm to the economy. ... That is what it means to get out of the bubble-and-bust cycle.”
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Way to go Barry O....he's getting the idea that the source of the problem lies not in the bust but in the boom. That's a nice start, but naturally the chief fascist doesn't seem to spend much time pondering the origin of those bubbles....
....again, like slow little children trying to understand a concept that's just way above their poor little heads...
Quote:
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...Mark Zandi, an oft-quoted economist at Moody’s Economy.com who advised John McCain during the 2008 campaign....said there’s not much an administration can do in practical terms to burst a developing bubble. The best way to cool things down is raising interest rates, which is the purview of the Federal Reserve.
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imagine that, the best way to 'cool things down' during the boom is for the fed to raise interest rates -- like there's a connection between interest rates and asset prices...it's hard for the slow kids to make this connection most days.