Obama Economic Shakeup Amid Bad News

Truck loads of lipstick for that pig will be needed to fool the American people into thinking all is well.
- Economic Guru Goolsbee is Gone -

Austan Goolsbee has been as close to an economic guru as Barack Obama has had. The Canadian-born University of Chicago professor was an adviser to Obama in the Senate, an economic point man for the 2008 campaign and, for less than a year, the head of the president’s Council of Economic Advisers.

His sudden departure from the White House comes as close to a staff shakeup as the image-conscious administration ever allows. Usually, people leave the administration like guests at a cocktail party: when they have embarrassed themselves (Desiree Rogers) or they can tell that no one wants to listen to them anymore (Larry Summers) they simply excuse themselves.

His sudden departure comes after an avalanche of bad economic news.
------------------------------------
The uncertainty of ObamaCare is forcing American corporations to wait for the
unknown bill to arrive in the mail.


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And the retorts that the US economy is great and the defense of Obama and blaming Bush begins in 5...4....3...2....1

reply to post by macman


it was bushes fault

reply to post by macman


The end of the article has Obama laying blame for the U.S. economy on
- international events - ???
-----------------------------------
It looks more like - domestic events - to me.
1 - Repeal ObamaCare the U.S. economy gets better.
2 - Bring down the price of gas to $2 a gallon with a Drill-Baby-Drill executive order
and the U.S. economy gets better.
3 - Agree with the Paul Ryan plan - Path to Prosperity - and the U.S. economy gets better.

Originally posted by pcrobotwolf
reply to post by macman

 

it was bushes fault

It's too late for that one.
This is the Obama economy.
-----------------------
Obama and Pelosi need to stop pointing fingers and blaming others.
They need to start articulating solutions to this very serious economic crisis!
Leaders take responsibility. Losers blame others.

The media is so in the bag for this guy that we will never hear the true statistics related to our current economic condition. They are still blaming Bush three years later. Can any of you name ONE person appointed by Barry who has business experience? I'll save you the trouble, there isn't one. The whole bunch are academics who have never had to earn a living by their labor. Elitist snobs who have zero business acumen telling businessmen how to run their business, while the media continue to treat them with kid gloves. It's sickening.

Originally posted by Eurisko2012

Originally posted by pcrobotwolf
reply to post by macman

 

it was bushes fault

It's too late for that one.
This is the Obama economy.
-----------------------
Obama and Pelosi need to stop pointing fingers and blaming others.
They need to start articulating solutions to this very serious economic crisis!
Leaders take responsibility. Losers blame others.

That is on the premise that they are leaders, which we all know they are not.

Originally posted by dillweed
The media is so in the bag for this guy that we will never hear the true statistics related to our current economic condition. They are still blaming Bush three years later. Can any of you name ONE person appointed by Barry who has business experience? I'll save you the trouble, there isn't one. The whole bunch are academics who have never had to earn a living by their labor. Elitist snobs who have zero business acumen telling businessmen how to run their business, while the media continue to treat them with kid gloves. It's sickening.

So, putting lipstick on a pig at the White House press room won't work?
--------------------------
A good place to find - true statistics - would be Fox News on Saturdays between
10 AM and 12 Noon.
They call it the business block.
------------------------
Of course the Fox Business Channel is also great at around 4 PM.

Originally posted by macman

Originally posted by Eurisko2012

Originally posted by pcrobotwolf
reply to post by macman

 

it was bushes fault

It's too late for that one.
This is the Obama economy.
-----------------------
Obama and Pelosi need to stop pointing fingers and blaming others.
They need to start articulating solutions to this very serious economic crisis!
Leaders take responsibility. Losers blame others.

That is on the premise that they are leaders, which we all know they are not.

Well, somebody better do something right!
This is serious.
It's not just the USA.
Other countries are watching us and hoping we don't screw things up over here.
------------------------
Now is a bad time to start drawing lines in the sand.
We need solutions now.

reply to post by Eurisko2012
Don't forget msnbc has the Reverend Al Sharpton on now, if you're looking for a completely biased point of view. Who watches this drivel?

Originally posted by Eurisko2012

Originally posted by pcrobotwolf
reply to post by macman

 

it was bushes fault

It's too late for that one.
This is the Obama economy.
-----------------------
Obama and Pelosi need to stop pointing fingers and blaming others.
They need to start articulating solutions to this very serious economic crisis!
Leaders take responsibility. Losers blame others.

agreed i just wanted to make macman right

Originally posted by dillweed
reply to post by Eurisko2012

 

Don't forget msnbc has the Reverend Al Sharpton on now, if you're looking for a completely biased point of view. Who watches this drivel?

MSNBC is the worst.
I'm thinking Comcast will clean it up eventually.
----------------------
Stay with Fox News , Fox News Business channel and the Wall Street Journal.
---------------------
The Business Block on Saturdays Fox News 10 Am - 12 Noon is entertaining when they have a liberal
on there to defend Obama.

reply to post by Eurisko2012


This is no different than putting the second string in the game in the 4th quarter when you're down 4 touchdowns. The economy will decide the next election and there is little that the administration can do that will turn it around in time. Even a natural swing in the business cycle will not deliver noticable results in time.

It will be interesting to find out in the years ahead how many of these folks (and there are some) argued against the current policies and were shot down by the ideologues like Jarret and Axlerod in the administration and actually quit rather than were moved out. Most of these folks in the economic side of the administration want to trade a government job for a Wall Street job and getting out while the getting is good will increase their marketability. 1/2 the time someone is leaving for "personal reasons", "to pursue other opportunities", "to spend more time with the family", they have actually quit.

The bailouts are public opinion disasters and examples of the government game of forcing you to prove a negative. How do we really know that absent the bailout, there would have been a total economic disaster? We don't but can't prove it. How do we know that the economy is better off having poorly run banks not fail? We don't, but can't prove it.

We can prove that the stimulus weaked the dollar, increased the deficit and did not have the impact on jobs that it was intended to (remember that it was never going to go above 8%) That job creation fantasy is now understood as just that, a fantasy. How do we know that it would not have been worse absent the stimulus? We don't and can't prove it. All that is immaterial at the end of the day. The situation on the ground is what matters and it stinks.

There are no objectives measures that would suggest that Obama's economic policies have been anything but an abject failure. We're running into a second dip, housing continues to get hammered, companies are sitting on massive amounts of cash, afraid to spend due to the incompetence and uncertainty created by this administration. It is no surprise that Obama would desire to shake up the team and also no suprise that folks would want to bail out of this nightmare.

As far as the economic problems outside of the US being part of the problem, there is a bit of merit in that. However what the administration will not admit and what is certainly the case is that had the economic policies been competently designed and executed and the US was not hanging on the brink of insolvency, the US would have been a massive safe haven for investment and the economy would actually be booming. Companies and governments still need to make investments and had the economy improved, those investments would be flowing into the US bolstering our economy and strengthening the dollar. The opposite is obviously the truth and the administration has no one to blame but themselves. The global economic decline should have been exploited as an economic opportunity, not simply a situation where we went along with the malise. Who got it? Brazil, China and India got it. They have exploited the economic weakness of the West and are now in better economic condition than they were at the beginning of the melt down. Economics is warfare and playing defense does not win the war. This administration has no idea how to play economic offense. That is no surprise, since it is laden with global one worlders who have no faith in free markets. They hate superpowers of any stripe, military or economic.

The worst position a politican can possibly be in is when the opposition merely needs to direct voters to judge the performance of the incumbant. Reagan's "are you better off than you were 4 years ago" was an excellent example of that. That phrase and the contemplation of that by voters was what destroyed Carter. If the Republicans can nominate a reasonable candidate who does not make large mistakes and has a positive message they will cruise into the White House.

The cool and hip slop that got this gent elected is not going to fly this time around. He's not a community organizer any longer and will have to stand by the results of his decisions and policies. The media will attempt to rescue him, but when the mainstream democrats start bailing on him, which has started, they will not be able to keep up the charade.

The economy is his. He owns it. He delegated the entire mess to Reid & Pelosi who are complete disasters. Now he does not know what to do other than play musical chairs on this floundering ship.

reply to post by dolphinfan


- The economy will decide the next election -
Well, that spells doom for Obama.
--------------------------------------------------------
As the unemployment rate rises to 10% the American people will walk into the voting
booth and make a - protest vote - .
Whoever the GOP candidate is they will be - Hired- !
-----------------------
Obama - You're Fired! -
I guess that means Donald Trump will be at the President Sarah Palin victory party
to make it official!

IMO,
only 54,000 jobs created in May
got him fired and sent to a
teaching job which he will
lose anyway with the education
budget cuts around the corner.

reply to post by Eurisko2012


The reality around unemployment statistics are shady to say the least. They only count those who are seeking employment, don't count the folks who gave up looking, double and triple count government make work jobs (remember the bit where census workers were hired and fired multiple times to pad the employment statistics?) and absolutely do not accurately count things like under employment nor those folks who are on commission based jobs who are making a fraction of what they were but are still employed. The actual unemployment rate has been calculated at closer to 18% and much higher in the young and minority demographics.

The only thing Obama has going for him is low interest rates which is due to the corruption of the Fed which is supposed to be an independant body. At least Jimmy Carter was honest and we had massively high interest rates reflective of the reality of the economy. All Obama is doing at the moment is playing games keeping the rates artificially low and passing that buck downstream. The rates will have to go up significantly to suck the excess money out of the economy, there is no way around it.

I ask Obama supporters often to point to one success on the economic front this administration has achieved that can be quantitatively proven. It can't be done.

He did have the opportunity to at least fall back on foreign policy, pursuing a far different strategy than Bush, but all he has done is double down on Bush's policies. This gent is the biggest neocon to inhabit the White House we have ever had. On the one hand he does not believe in American exceptionalism and pursues a global, one world economy/foreign policy and on the other gets up each day looking for places to engage US military forces.

The entire administration is a charade. An incoherent, amaturish, charade.

obama and pelosi are a part of the problem hence they will never offer a solution.

a happy people a government can not control adveristy creates divisions and that gives them power.

if they fix the economy and this country they would not need that extensive power they will never yield their quest for total control over everything and everyone in this country.

we are doomed.

Originally posted by dolphinfan
reply to post by Eurisko2012

 

The reality around unemployment statistics are shady to say the least. They only count those who are seeking employment, don't count the folks who gave up looking, double and triple count government make work jobs (remember the bit where census workers were hired and fired multiple times to pad the employment statistics?) and absolutely do not accurately count things like under employment nor those folks who are on commission based jobs who are making a fraction of what they were but are still employed. The actual unemployment rate has been calculated at closer to 18% and much higher in the young and minority demographics.

The only thing Obama has going for him is low interest rates which is due to the corruption of the Fed which is supposed to be an independant body. At least Jimmy Carter was honest and we had massively high interest rates reflective of the reality of the economy. All Obama is doing at the moment is playing games keeping the rates artificially low and passing that buck downstream. The rates will have to go up significantly to suck the excess money out of the economy, there is no way around it.

I ask Obama supporters often to point to one success on the economic front this administration has achieved that can be quantitatively proven. It can't be done.

He did have the opportunity to at least fall back on foreign policy, pursuing a far different strategy than Bush, but all he has done is double down on Bush's policies. This gent is the biggest neocon to inhabit the White House we have ever had. On the one hand he does not believe in American exceptionalism and pursues a global, one world economy/foreign policy and on the other gets up each day looking for places to engage US military forces.

The entire administration is a charade. An incoherent, amaturish, charade.

1 success on the economic front? That would be - cash for clunkers-
-----------------------------
The truth is that socialism doesn't work.
Having Obama travel around and masquerade as a capitalist doesn't work.
Having - Dog & Pony - shows with small businesses doesn't work .
----------------------
George Soros isn't hiding.
He says that the U.S. Government should be growing the economy NOT the private sector.
How many times has George Soros been to the White House?

Originally posted by neo96
obama and pelosi are a part of the problem hence they will never offer a solution.

a happy people a government can not control adveristy creates divisions and that gives them power.

if they fix the economy and this country they would not need that extensive power they will never yield their quest for total control over everything and everyone in this country.

we are doomed.

It's not too late. We are not doomed.
There is a Plan B.
--------------------------
When you see Rush Limbaugh move to Costa Rica, then we are doomed.
Last i heard he is still living in West Palm Beach, Florida.
--------------------------
All we have to do is yank out the socialist in the White House and
vote in a capitalist.
- For every problem there is a solution. -

Originally posted by boondock-saint
IMO,
only 54,000 jobs created in May
got him fired and sent to a
teaching job which he will
lose anyway with the education
budget cuts around the corner.

54,000 jobs and that is only because of McDonalds helping him out.
--------------------------
Clearly, the economy is slowing down and all the lipstick they are putting on the pig
won't change anything.
-------------------------
I feel sorry for the next economic advisor who walks into the White House.
They are not running the U.S. economy. The are managing the decline of America.