Fundamentals of the Economy

[TRUTIDE]

A timeline, to put things in perspective...

Then...

Aug, 2007 Bush
President George W. Bush said Thursday that U.S. economic fundamentals were strong despite turbulence in the housing market, thanks to low inflation, a solid job market and a strong global economy.

Sept, 2008 Mccain
McCain's stubborn insistence that the fundamentals of the economy are strong shows that he, like President Bush, is disturbingly out of touch with what's going in the lives of ordinary Americans and would simply offer more of the same failed economic policies which have Americans have suffered under for the past eight years.

Oct, 2008 Obama
“It’s not that I think John McCain doesn’t care what’s going on in the lives of most Americans,” he said. “I just think he doesn’t know.”
"Why else would he say, today, of all days … that the fundamentals of the economy are still strong?”


Oct 2008 Tidefans
McCain: Fundamentals of Economy Are Strong

And Now...

Mar, 2009 Obama
The economy is fundamentally sound despite the temporary "mess" it's in, the White House said Sunday in the kind of upbeat assessment that Barack Obama had mocked as a presidential candidate."If we are keeping focused on all the fundamentally sound aspects of our economy, all the outstanding companies, workers, all the innovation and dynamism in this economy, then we're going to get through this," Obama said, striking a tone that his top aides mimicked.

Mar, 2009 Romer
this is what Romer said. The fundamentals are sound in the sense that the American workers are sound, we have good capital stock, we have good technology. That's the Obama advisor. Here's McCain on why he said the fundamentals are strong. The American worker and their innovation, the entrepreneurship, the small business, those are the fundamentals of America and I think they are strong.

We are now in a much worse economy than we were 5 months ago. Last week, The whitehouse had said the fundamentals of the economy were "weak". While I would agree that the POTUS needs to show more optimism toward the American worker and the economy, the hypocrisy of it all is just cracks me up.

Is this "On the Job Training", or what?

 

[crimson_blood]

A timeline, to put things in perspective...

Then...

Aug, 2007 Bush
President George W. Bush said Thursday that U.S. economic fundamentals were strong despite turbulence in the housing market, thanks to low inflation, a solid job market and a strong global economy.

Sept, 2008 Mccain
McCain's stubborn insistence that the fundamentals of the economy are strong shows that he, like President Bush, is disturbingly out of touch with what's going in the lives of ordinary Americans and would simply offer more of the same failed economic policies which have Americans have suffered under for the past eight years.

Oct, 2008 Obama
“It’s not that I think John McCain doesn’t care what’s going on in the lives of most Americans,” he said. “I just think he doesn’t know.”
"Why else would he say, today, of all days … that the fundamentals of the economy are still strong?”


Oct 2008 Tidefans
McCain: Fundamentals of Economy Are Strong

And Now...

Mar, 2009 Obama
The economy is fundamentally sound despite the temporary "mess" it's in, the White House said Sunday in the kind of upbeat assessment that Barack Obama had mocked as a presidential candidate."If we are keeping focused on all the fundamentally sound aspects of our economy, all the outstanding companies, workers, all the innovation and dynamism in this economy, then we're going to get through this," Obama said, striking a tone that his top aides mimicked.

Mar, 2009 Romer
this is what Romer said. The fundamentals are sound in the sense that the American workers are sound, we have good capital stock, we have good technology. That's the Obama advisor. Here's McCain on why he said the fundamentals are strong. The American worker and their innovation, the entrepreneurship, the small business, those are the fundamentals of America and I think they are strong.

We are now in a much worse economy than we were 5 months ago. Last week, The whitehouse had said the fundamentals of the economy were "weak". While I would agree that the POTUS needs to show more optimism toward the American worker and the economy, the hypocrisy of it all is just cracks me up.

Is this "On the Job Training", or what?

The answer is simple…he was shoving the Trillion $ + spending package down our throats, looking into the camera and lying to Americans saying things like “WE HAVE TO ACT RIGHT NOW or this economy will fail…” It was a classic case of fear-mongering. Once the massive spending bill is passed and BHO’s campaign debts are paid with taxpayer dollars, now he seeks to calm the masses and tell everyone “it’s not as bad as you think folks…I can see the light at the end of the tunnel.” I cannot believe how many people just blindly follow every word BHO says. He’s one helluva saleman…and people not only eat it up, they worship him. What people do not realize is that we have taken on more debt in the last 2 months than any period in American history. It is absolutely unsustainable. We are being robbed right in front of our own eyes…and people are standing up and cheering about it.

The agenda is set, and then BHO sells it to the country…and everyone eats it up without questioning what’s going on. I am personally sick and tired of this type of thing. And I was sick and tired of it when Bush and the Republicans did the exact same thing before the Democrats took control.

The way both the “stimulus” package and Omnibus spending bill were shoved through Congress is borderline criminal. No one had time to skim through either one, much less actually READ them. Congressmen were told it would be doomsday and that martial law would prevail if they did not vote for this stimulus thing…people don’t realize what actually happened. It happened at light speed...and our children and grandchildren will pay dearly for it.

 

[Relayer]

If Obama says the fundamentals were weak in Oct 08, but have improve to the point of now being strong, who are we to question him? It is so because he says it is so. Just ask you lefty friends.

 

[TRUTIDE]

The way both the “stimulus” package and Omnibus spending bill were shoved through Congress is borderline criminal. No one had time to skim through either one, much less actually READ them. Congressmen were told it would be doomsday and that martial law would prevail if they did not vote for this stimulus thing…people don’t realize what actually happened. It happened at light speed...and our children and grandchildren will pay dearly for it.

Yeah, this was really disturbing. Tarp pretty much went the same way. While the pubs did push much of Bush's agenda, they did stand up to him on some things and they did not just shut the dems out like is happening now. I remember Bush fast tracking his tax cuts through and recall thinking this was not good but there was at least legitimate debate on most issues. The dems are fast tracking everything through beginning with the bailouts of last year. When the American people are not allowed to see these bills and debate is shut down prematurely, it is not good for the country. It is as though something is being hidden from us and the bill cannot withstand normal debate.

 

[RhodeIslandRed]

This is a favorite tactic of politicians -- jawboning. He's trying to give confidence to the consumer to go out and spend money. Even Bernake is in on it too this week.

WASHINGTON (MarketWatch) -- The chairman of the Federal Reserve said in a rare interview televised Sunday that the U.S. recession will come to an end "probably this year," but he also warned that the nation's 8.1% unemployment rate will continue to rise.



Appearing on the CBS network's "60 Minutes," Fed Chairman Ben Bernanke told correspondent Scott Pelley that concerted efforts by the government likely averted a depression similar to the 1930s. He also said the nation's largest banks are solvent and that he doesn't expect any of them to fail.

... Once the economy begins to recover, Bernanke said, the Fed will have to raise interest rates and reduce the supply of money to "make sure we have a recovery that does not involve inflation."

The Fed chairman said the recovery won't begin until early 2010 and will take time to gather steam. He reiterated his call for an overhaul of the nation's financial regulations -- the first in decades -- to prevent similar financial conflagrations.

[url]http://www.marketwatch.com/news/story/feds-bernanke-sees-recession-ending/story.aspx?guid=%7BF2A569DE%2DDEE0%2D4943%2DB8DB%2DDCD72D3065F7%7D[/URL]

Greenspan noted in his earlier years when he was a consultant that watching raw materials, particularly steel will tell you when a recession is ending. This is the first industry to recover, he says. Well, here is Nucor's take. Steel, in general, isn't doing well, worldwide.

SAN FRANCISCO (MarketWatch) -- Nucor Corp. shares dropped 10% early Tuesday, retreating after the steelmaker said it expects to lose money in the first quarter amid an "unprecedented" pace of deterioration in the global economy and will reduce operations in its mills.

"The unprecedented speed and magnitude of the global economy's decline to depressed levels not seen in our lifetime have presented severe challenges," said Dan DiMicco, chairman and chief executive of Charlotte, N.C.-based Nucor.

"The economy has fallen off a cliff -- and there is no visibility as to the timing of the recovery," he said in a statement.

The company said it expects to report a loss of 55 to 65 cents a share, a reversal from the profit of $1.41 a share in the year-earlier first quarter and from the 34 cents a share earned in the 2008 fourth quarter. Nucor had declined to offer a quarterly target back in January due to lack of visibility.

Analysts polled by FactSet Research had been targeting a profit, on average, of 41 cents a share for the March quarter.

[url]http://www.marketwatch.com/news/story/nucor-warns-first-quarter-loss-steelmakers/story.aspx?guid=%7B7025FE27%2D87B4%2D4724%2D8114%2D79FCF8EDD606%7D&dist=TQP_Mod_mktwN[/URL]