Barack Obama’s New Economic Team.

And yet you are an Obama diehard. Look no further than Obama if you want to see someone fast and loose with ethics and facts.

 

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Tom B: Why do you attack the author of the article rather than dispute the facts in the article?


*****


January 21, 2010

SouthAmerica: Reply to Tom B

I didn't read the article that you posted by Karl Rove.

I don't have time to waste to read anything written by Karl Rove.


*****


I did watch about an hour ago Barack Obama's speech regarding the new governemnt regulations affecting Wall Street and the Banking system.

It was a very good speech, and I am glad that he has started listening to Paul Volcker.

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That's quite an overreaching comparison you are drawing. Don't hurt yourself.

(Diehard? Hardly. I don't necessarily agree with everything Obama has said and done. But, on balance, he's the best you've got.)

 

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January 22, 2010

SouthAmerica: The timing is perfect right now for Barack Obama to make the following changes to his economic team.

Barack Obama is way overdue in making some changes to his economic team as follows:

1) He should replace ASAP Treasury Secretary Tim Geithner with Professor Joseph Stiglitz.

2) He should replace immediately Federal Reserve Chairman Ben Bernanke with Stephen Roach (Morgan Stanley)


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There are some days when I really do try to understand how on earth a person could arrive at such an opinion.

In keeping with the "on balance" scenario, I guess we would call this a divergence !

 

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April 9, 2010

SouthAmerica: The timing is perfect right now for Barack Obama to make the following changes to his economic team to show that he means real meaningful change to the foundations of the US economy. (Including real changes to the financial regulation regarding Wall Street to avoid in the future another massive financial meltdown and taxpayer bailouts.)

Barack Obama is way overdue to making some changes to his economic team as follows:

1) He should replace ASAP Treasury Secretary Tim Geithner with Professor Joseph Stiglitz.

2) He also should replace immediately his senior economic advisor Larry Summers with Paul Krugman.

Note: The smartest thing he has done so far is to start listening closely to Paul Volcker.

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Krugman: advised Spain, now he's persona non grata there.
Stiglitz: advising Greece, badly hurting them with his incompetent advice.

 

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April 9, 2010

SouthAmerica: Reply to buzzy2


Joseph Stiglitz was not the culprit regarding Greece’s economic meltdown.

As usual it was the rocket scientists that work for Goldman Sachs.

Goldman Sachs was the real culprit advising Greece, and badly hurting them with their scam artist, crooked and incompetent advice.

And if you have the chance to read the latest issue of Rolling Stone magazine (dated April 15, 2010) “How Wall Street Ripped Off Main Street” by Matt Taibbi – then you would find out that the scoundrels from Goldman Sachs did not screw only the Greeks, Goldman Sachs looted main street in many communities around the United States leaving behind massive corruption scandals and a wasteland of bankrupted communities.

Goldman Sachs is the most powerful Mafia family in the United States in every way, and more profitable than any of their peers:

1) Goldman Sachs

2) Lucchese

3) Bonanno

4) Gambino

5) Colombo

6) Genovese


Note: By the way, one of the top scoundrels of Goldman Sachs former US Treasury Secretary Henry Paulson just met with the Chinese Premier Wen on April 7, 2010 in Beijing, during which he probably try to set up the Chinese leader to take the Chinese for a ride regarding the coming IPO’s of major Chinese banks.

You can bet if the Chinese listen to Hank Paulson they are going to get screwed in a big way.

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OBAMA IS LEADING US INTO SOCIALISM

(An excerpt from the new book 2010: Take Back America -- A Battle Plan by Dick Morris and Eileen McGann, ...)

"In her poem “The New Colossus,” inscribed on the base of the Statue of Liberty, Emma Lazarus wrote: “Give me your tired, your poor / Your huddled masses yearning to breathe free / The wretched refuse of your teeming shore / Send these, the homeless, tempest-tossed to me.”

Americans embraced that image of a nation that welcomed those who wanted to work hard and grow and build their lives. But Barack Obama has replaced this call for self-reliance with an offer of security and serenity protected, subsidized, and sheltered by the government. Obama heralds his arrival on the battlefield of our politics not with a cacophony of confrontation, but with a lulling siren song designed to sedate and anesthetize us while he transplants our essence and replaces it with something else entirely. His sirens—the modern equivalent of those voices that tried to lure Ulysses onto the rocks and to his death in Homer’s Odyssey—sing the same soothing lullaby that has long since lulled Europe and Japan into a trance.

THE SIREN SIGNS: Put aside your ambition. Don’t work so hard. Slow down and live a little. Don’t worry. Give the government your insecurities. Let us take care of them.
BUT REALITY ANSWERS: If we go back to being a nation of childlike dependents, relying on a parental government, we will become poorer and poorer, having to make do with less and less. Government cannot create jobs or wealth. It can only take from some and give it to others. And if people cannot keep their own money, they will stop working, innovating, taking the risks that are key to survival and growth—and we will all have less.

THE SIREN SIGNS: You’re not alone in the world. You have your community to surround you and a safety net below you. We have anticipated all the vagaries of life, all of its uncertainties, and have made provision for them.
BUT REALITY ANSWERS: It’s the fear of failure, as much as the dream of success, that motivates us all to work hard, compete, and succeed. If life holds no perils, there’s little to get us out of bed in the morning. While we must protect those who cannot help themselves, for most of us it’s the fear of bad outcomes—as much as the lure of reward—that impels our labor.

THE SIREN SIGNS: Give up some of your sovereignty and independence. You won’t need it anymore. Your leaders will show you what to do. You must surrender what you have to the community. We are all in this together. We are a unit, an entity. We will share the sacrifice, take care of each other, and let our government point the way.
BUT REALITY ANSWERS: Government does almost everything worse than private business. The U.S. Postal Service is a joke compared to FedEx and UPS. The Veterans Administration hospitals are a disgrace to the men and women who have served us. Our government cannot control our borders. It can’t even distribute flu shots to those who need them. Private and church schools educate better, for less money, than public educational institutions do. State universities are drowning in their own bureaucracy. And the list goes on. Only in the military, police, and firefighting services—with their extraordinary standards of martial discipline, self-sacrifice, unit cohesion and morale—does the public sector excel.

THE SIREN SIGNS: Abandon the delusions of your religious faith. They are old, for a different time. You don’t need them anymore. Secular humanism has made them unnecessary. Turn away from the spurious rituals and the false security they offer. Embrace the real security of a committed community led by enlightened experts.
BUT REALITY ANSWERS: We each have a God-sized hole in our hearts and souls. Without faith, some people turn to addiction; others lose themselves in narcissism. Some become workaholics, others compulsive gamblers, and still others status-seekers who make the acquisition of material goods their own yardstick in life. Where religion falters, self-involvement takes the place of child-rearing, and birth rates drop. Values decline—and an increase in crime, sexually transmitted disease, and suicide are the result.

THE SIREN SIGNS: You don’t really need your democracy anymore. Let us experts run things. We know better than you what you need and we have the knowledge to get it for you. Turn away from the cantankerous politics of shrill debate. Trust those who act with benign knowledge of what is best for you.
BUT REALITY ANSWERS: The experts covet power, and power corrupts them as easily as it does anyone else. Bureaucracies become obsessed with self-perpetuation and soon lose sight of the populations they are supposed to serve. They develop cozy relationships with the power brokers in big companies to form a consortium of business and government to control our lives. It is only through democracy that we can fight their tyranny."

 

Obama's Economic Policy