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Obama sees unemployment through rose colored glasses


Son of Liberty
Very good post Sim and I agree with you somewhat.

You say most economists agree spending (stimulus) during a recession is a good thing and I agree with that. But what I agree with is consumer spending, not government spending. We need to encourage consumers to spend again and to do that they have to feel secure enough in the free market to feel free to spend. Consumer spending separates what good and services are wanted by the public and which ones are not, allowing business to produce and serve, thus hire, those goods and services the public responds to.

And you're right, we really don't know with 100% certainty how good or how bad things would be without the stimulus and his other policies, unfortunately we don't have a reset button. And in all fairness there are a myriad of factors that influence the market either way, the president doesn't control the economy like the volume button on a radio. But I am of the opinion the market would have been showing signs of bouncing back by now without the stimulus, but I am also of the opinion the low point without it would have probably gone lower.


Registered Member
Small businesses feel squeezed by Obama policies

From the article: "But Brian Bethune, chief U.S. financial economist at IHS Global Insight, asserts that the initiatives coupled with numerous other new regulations are making owners feel overburdened, overregulated and less secure about the economy."

Like I wrote, these policies, Obama & his administration, and current political rhetoric are creating a chilling uncertainty among small businesses.


not a plastic bag
I was out of town this weekend and I met a developer at a hotel. I asked him how things were and he said the things were horrible in 2008 and 2009 but things have been better this year, although still slow. He then told me he had hired a lot of contractors and was working on several houses that he was going to close by December 31. This guy told me with the tax increases coming he wanted to put everything on the books in 2010 and he planned on "sitting out" 2011. This guy and others like him are going to be hiring a lot less roofers, electricians, carpenters, plumbers, etc...

I sympathies with Obama in the respect that the deficient is horrendous and we have to shore up out securities. As a nation, we are rated just like every other bond issuer and having to pay more for debt will kill us also. But, the uncertainty that is added to the market is killer. And again, this has been Obama's failure, imo.
In a free market economy, there are always cycles of ups and downs, and any government has only limited influence on the economic situation.......................or the best he could possibly do.
That was a great post Sim.
There are 2 competing and intelligent arguments about how to deal with an economic mess. I'll call your argument the liberal and mine the conservative. Horrible titles, but its late and I can't think of the right terms.

The liberal solution is seen in history during 1938 and was detailed nicely by Paul Krugman yesterday: http://www.nytimes.com/2010/09/06/opinion/06krugman.html?src=me&ref=general

The conservative solution is seen in history during 1920 and has been laid out by many free market guys. Here is one: The Great Recession Of 1920-21 And What It Can Teach Us Today | United Liberty | Free Market - Individual Liberty - Limited Government

The point of both of these articles is the solution is radical. Either we need radical government spending, Krugman pegged it at $30T!!! Or radical reduction in government, Thomas Woods pegged that at 50% reduction!!

As stated, you can make an intelligent argument for both. Soon one or that other may have to be done.
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