Has Obama Made A Serious Political Mistake?

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    Feb 25, 2009 4:18 PM GMT
    Obama recently called his stimulus package 'the beginning of the end' of the global turn down.

    http://www.latimes.com/news/nationworld/nation/la-na-stimulus18-2009feb18,0,793522.story

    But, even more recently, figures from Japan suggest that this recession might turn into outright global depression.

    http://www.guardian.co.uk/business/2009/feb/25/larry-elliott-depression-japan

    So in five years time, do you think his words will come back to haunt him?

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    Feb 25, 2009 4:39 PM GMT
    No, I think the financial and business communities are sufficiently chasen to understand that they have to pay attention to business. The CEOs have been given a strong dose of reality. Congress has the American people behind it....even the hinterland republican rubes to a large extent. And Obama is an eloquent leader.
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    Feb 25, 2009 4:42 PM GMT
    I like Obama - and I approve of his fiscal stimulus package.

    But... I think he's made a mistake in saying it is the 'beginning of the end.' He might get lucky and the economy might bounce back, but I really don't think that it will. And when it doesn't, I think his opponents will quote his words right back at him.
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    Feb 25, 2009 4:49 PM GMT
    Business and Finance are not going to want to drag this out. They will make it bounce back. And one of the most important aspects of bouncing it back is to encourage the american public and consumer. And I bet once the warm weather hits, the american consumer is going to had their fill of not spending all winter long and start hitting the stores.

    Things are gonna get clicking again.
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    Feb 25, 2009 5:09 PM GMT
    funny pictures of cats with captions

    Ok, I can see that it may be necessary to nationalize Britain and get them on board with the recovery program.
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    Feb 25, 2009 5:13 PM GMT
    Animanus - I guess you're right.

    A bit of Winston Churchill might have been better though...

    'Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.' icon_wink.gif

    I'm worried that Republicans in four years time will say, 'look we opposed this legislation. You said it was the beginning of the end, but we're still in recession.'

    Obama seems to be gambling that the economy will bounce back. I really don't think it will.
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    Feb 25, 2009 5:14 PM GMT
    Caslon9000 saidfunny pictures of cats with captions

    Ok, I can see that it may be necessary to nationalize Britain and get them on board with the recovery program.


    Caslon, don't get me wrong. We're even more screwed than you are.

    London's nickname is currently 'Reykjavik on Thames.'

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    Feb 25, 2009 5:51 PM GMT
    Lost_And_Found saidObama recently called his stimulus package 'the beginning of the end' of the global turn down.

    http://www.latimes.com/news/nationworld/nation/la-na-stimulus18-2009feb18,0,793522.story

    But, the even more recent figures from Japan suggest that this recession might turn into outright global depression.

    http://www.guardian.co.uk/business/2009/feb/25/larry-elliott-depression-japan

    So in five years time, do you think his words will come back to haunt him?



    He should not have promised to cut the Federal deficit in half in four years. That was a promise that will be very hard to keep.

    I think most of the people that really influence the economy, don't pay too much attention to what the President says, his words were to buoy up the average person who is scared, anxious, neurotic, confused etc.. about what is happening. One of the biggest obstacles to turning the world economy around is the fear and lack of confidence that exists.
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    Feb 25, 2009 6:16 PM GMT
    ^ I think that's true. It's a shame because he didn't have to say it.

    No one blames Obama for this mess... but they might start to resent him if he promises to deliver things he can't.
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    Feb 25, 2009 6:29 PM GMT
    BAH! PESSIMISTS, THE WHOLE BUNCH OF YOU!

    You will be so happy in 4 years...nay, in one year....when you see how well Obama has turned things around.
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    Feb 25, 2009 6:34 PM GMT
    ^ Sorry, I'm writing a complete essay in this thread.

    I don't think it's really under Obama's control Caslon.

    The economic stimulus package might help, but it probably won't cure the problem.

    Here's why I don't think the world economy will 'bounce back.'

    1) Global financial institutions are seriously in debt to government.
    2) The whole world has relied on America buying its exports for years and years. American consumers bought those exports on credit.
    3) The housing bubble was massive and has created massive personal debt.
    4) China will not allow America to weaken the dollar (China owns billions in dollars). Without a weak dollar, America can't export out of recession.

    Obama might get lucky and the economy might bounce back, but I don't think it will.
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    Feb 25, 2009 7:18 PM GMT
    Lost_And_Found saidObama recently called his stimulus package 'the beginning of the end' of the global turn down.

    http://www.latimes.com/news/nationworld/nation/la-na-stimulus18-2009feb18,0,793522.story

    But, the even more recent figures from Japan suggest that this recession might turn into outright global depression.

    http://www.guardian.co.uk/business/2009/feb/25/larry-elliott-depression-japan

    So in five years time, do you think his words will come back to haunt him?



    When is it a mistake to talk about a positive future. Know one knows 100% what will happen.

    Those figures and indicators all can be and often proven wrong many times. I really wish people like you would keep quiet. Half the problem is everyone talking and fixating on the negative.
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    Feb 25, 2009 7:21 PM GMT
    Caslon9000 saidBAH! PESSIMISTS, THE WHOLE BUNCH OF YOU!

    You will be so happy in 4 years...nay, in one year....when you see how well Obama has turned things around.


    I will remember that statement, and I hope you are right.
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    Feb 25, 2009 7:26 PM GMT
    Obama's choice: do nothing, do something; he chose something.

    Let's look at the other side of this. The Republicans in Congress are betting that it's a fail. If it succeeds (there's a chance either way, arguably), won't they look as sad as the Republican party of 1936?
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    Feb 25, 2009 7:27 PM GMT
    Lost_And_Found saidObama might get lucky and the economy might bounce back, but I don't think it will.

    It is to nobody's advantage for the economy to stay in the shape that it is. Everybody will be working to solve the problem. It will bounce back.

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    Feb 25, 2009 7:35 PM GMT
    Just to be totally, totally clear.

    I like Obama and I think he is absolutely right to take action. I think he is able and intelligent and, what's more, I think his heart is in the right place.

    I think he might have made a political mistake though. By that, I mean he might have given ammunition to his opponents.

    I basically think that this recession is the fault of right wingers like Bush and Blair deregulating everything and letting the housing bubble build up. The trouble is that if Obama claims he can fix the problem when he can't, he might well end up being resented for something that isn't his fault.
  • MikemikeMike

    Posts: 6932

    Feb 25, 2009 7:36 PM GMT
    Are you sure he just made 1 ?????icon_lol.gif

    Well the good ole USA has given billions of dollars to other countries-NOT likely any will ever pay back. If the US fails economically the rest of the world will follow.icon_idea.gif
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    Feb 25, 2009 8:15 PM GMT
    Lost_And_Found saidObama recently called his stimulus package 'the beginning of the end' of the global turn down.

    http://www.latimes.com/news/nationworld/nation/la-na-stimulus18-2009feb18,0,793522.story

    But, the even more recent figures from Japan suggest that this recession might turn into outright global depression.

    http://www.guardian.co.uk/business/2009/feb/25/larry-elliott-depression-japan

    So in five years time, do you think his words will come back to haunt him?



    I see where you're coming from Lost. I think Obama needs to pull a Roosevelt and keep Americans inspired, working, experimenting, and hopeful during the coming downturn. Roosevelt sat on something more horrible and still Roosevelt and the democrats were elected with overwhelming numbers that no New Deal/FDR detractor can sweep under the rug.
  • EricLA

    Posts: 3461

    Feb 25, 2009 8:18 PM GMT
    To soon to tell, isn't it? I think there's still so much to do to stave off a global depression. Chances are the government is going to have to spend even MORE money and we'll have to make more sacrifices. I'm sure many, many, many more layoffs and company failures are coming. I'm not sure spending our way out of this is the answer, but cutting taxes our way out of this didn't seem to do much.
  • Mikeylikesit

    Posts: 1021

    Feb 25, 2009 8:25 PM GMT
    Nothing is going to change the outcome.....I hate to tell you all.....We are in for a Major Depression. All the spending will not prevent the inevidable...This global meltdown has never been seen before. Its going to take a Global response, Not just the USA throwing Billions of dollar around hoping it does something....icon_twisted.gif
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    Feb 25, 2009 10:04 PM GMT
    lets wait to weight it all up at the end of his first term.

    I long to see what advancements the homosexual community in America has made, in that time, if any. I'm not expecting anything to happen. He has the perfect back out. Much more pressing issues at hand. Like how America has fucked up the world.

    Mr President. Can the world now have it's sovereignty back; like now.
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    Feb 26, 2009 12:08 PM GMT
    CitizenSol said
    Lost_And_Found saidObama recently called his stimulus package 'the beginning of the end' of the global turn down.

    http://www.latimes.com/news/nationworld/nation/la-na-stimulus18-2009feb18,0,793522.story

    But, the even more recent figures from Japan suggest that this recession might turn into outright global depression.

    http://www.guardian.co.uk/business/2009/feb/25/larry-elliott-depression-japan

    So in five years time, do you think his words will come back to haunt him?



    I see where you're coming from Lost. I think Obama needs to pull a Roosevelt and keep Americans inspired, working, experimenting, and hopeful during the coming downturn. Roosevelt sat on something more horrible and still Roosevelt and the democrats were elected with overwhelming numbers that no New Deal/FDR detractor can sweep under the rug.


    I guess that's it, he has to try and keep confidence from disappearing. It seems unfair in a way. Bush came to power with America a totally uncontested super power and a booming economy. Obama's got a lot more on his plate....
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    Feb 27, 2009 7:44 AM GMT
    Lost_Prophet saidI like Obama - and I approve of his fiscal stimulus package.

    But... I think he's made a mistake in saying it is the 'beginning of the end.' He might get lucky and the economy might bounce back, but I really don't think that it will. And when it doesn't, I think his opponents will quote his words right back at him.


    I believe that Obama needs to be careful in managing people's expectations. Having said that, I also believe that he said what he said in order to buoy the confidence of the people in our economy. People voted for him primarily because of his message of hope and change. He's smart enough to listen to Clinton's advice and talk of the economy in a more upbeat, hopeful way. But I agree with you that to say this is the "beginning of the end" might be rather too optimistic.

    The same goes with Bernanke.