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Rusty Shackleford
Joined: 08 May 2008
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 Posted: Mon Jan 04, 2010 8:22 pm Post subject: WSJ:Advice to Obama; Do nothing! |
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Good article. Though he focuses too much on the stock market. Which is about as go an indicator of economic health as the index of a fantasy baseball league.
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The market has notably plunged since Mr. Obama introduced his budget last week, and that should be no surprise. The document was a declaration of hostility toward capitalists across the economy. Health-care stocks have dived on fears of new government mandates and price controls. Private lenders to students have been told they're no longer wanted. Anyone who uses carbon energy has been warned to expect a huge tax increase from cap and trade. And every risk-taker and investor now knows that another tax increase will slam the economy in 2011, unless Mr. Obama lets Speaker Nancy Pelosi impose one even earlier.
Meanwhile, Congress demands more bank lending even as it assails lenders and threatens to let judges rewrite mortgage contracts. The powers in Congress -- unrebuked by Mr. Obama -- are ridiculing and punishing the very capitalists who are essential to a sustainable recovery. The result has been a capital strike, and the return of the fear from last year that we could face a far deeper downturn. This is no way to nurture a wounded economy back to health. |
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| Perhaps they're reading the polls and figure they have two or three years before voters stop blaming Republicans and Mr. Bush for the economy. Even if that's right in the long run, in the meantime their assault on business and investors is delaying a recovery and ensuring that the expansion will be weaker than it should be when it finally does arrive. |
http://online.wsj.com/article/SB123604419092515347.html |
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Kuros
Joined: 27 Apr 2004
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| Posted: Mon Jan 04, 2010 8:52 pm Post subject: |
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Do nothing but appear to be doing a great deal. I believe that's the policy.
But some of the regulations on Wall Street do need to be retooled, but the WSJ won't be advocating that, of course. |
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pkang0202
Joined: 09 Mar 2007
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| Posted: Tue Jan 05, 2010 1:01 am Post subject: |
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| Kuros wrote: |
Do nothing but appear to be doing a great deal. I believe that's the policy.
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Bill Clinton's strategy. Worked for Bill. |
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Rusty Shackleford
Joined: 08 May 2008
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| Posted: Tue Jan 05, 2010 5:58 am Post subject: |
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| pkang0202 wrote: |
| Kuros wrote: |
Do nothing but appear to be doing a great deal. I believe that's the policy.
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Bill Clinton's strategy. Worked for Bill. |
The size of govt expanded under both of these guys. I fail to see how that is a "do nothing policy". |
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