[quote author="ENS Audio"]
Im sorry after what has happened this past 8 years, im happy that Obama is president but I fear that there are some very terrible realities that await for us.
The previous administration has left a horrible mess that im afraid Obama as much as he is really sincere and cares about this country, he and his administration will not be able to undo the damage that has been put forth by the economic policies of the past 8yrs.
How much money will be printed out just within the next 6 months???
Also, (for our economic experts) what will the government do to counter the coming inflation that will be the total collapse of the US economy?
The Speaker of the House wants to pass another stimulus package?? :shock:
So the solution?? Print more money..
Not to make any predictions but the sad thing is that Obama will be blamed for all the mess, hope for many will be tragically crushed and heads are going roll :sad:[/quote]
You can't have it both ways.. Of course Obama is not responsible for the crippled economy (that helped get him elected). But this is the same way the recession in 2001 was not caused by W. It just goes with the office that anything on your watch you own.
I feel there is a lot of blame to go around in the current combination credit/economic crisis. I am disappointed to see that Barney Frank was re-elected since I blame him and his policies as contributory to the housing blow up.
I've been saying this for a while but this economy is worse than most people appreciate. The easy money days of home equity credit lines, and huge credit card loan limits are over... could be a tough few years for consumer spending.
Again they're looking for another stimulus give away rather than addressing fundamental issues. Where do they think this money comes from, China? ( :grin: )
I'm hoping that a lot of the campaign rhetoric was just that, as strict carbon caps on coal burning power plants will not be helpful energy policy, especially in a weak economy. And increasing taxes is never a way to create jobs and power out of a recession.
Yes, I expect inflation to kick in... pretty hard if they put a false bottom under housing which I suspect they'll try to do. Once the credit crisis passes (a different problem) the dollar may fade as a safe haven and soften, leading to higher oil prices and more inflation. At the moment the falling gas prices have removed a drag on the economy but prices won't stay down very long.
Difficult times. Nobody blames Obama for causing it but how he (they- Pelosi Reid et all) act from here can make a big difference in where we go from here. It could get worse, but I remain optimistic that he will get good advice and hopefully listen to them, rather than blindly cranking out all his campaign promises.
Another observation about this credit meltdown. We will never return to how it was. There was lot of excessive leverage and artificial capital in the system. We will hopefully return to more normal credit market where home loans require down payments, business loans collateral, etc.
JR
