| theprof00 said: You've given this new administration 3 months. Those companies had to be bailed out. There is no recourse. It's quite simple. |
So you're saying that if a presidency started a war, or banned gay marriage/abortion in the first 3 months of the presidency you would be "Cool" with it because you have to give the president a chance?
What you are not getting is that these protests are not specifically about Obama, although some of the anger of people is specifically focused on Obama (which is primarily a side effect of being the president because most people see you as the leader of the Government), and most of these people's fears and concerns are very well founded. The Federal Reserves "quantitative easing" (money printing) and the unprecidented deficits for the next few years will come back to haunt the United States ... There is a long list of failed states that all performed similar actions because they "Had" to do them, and yet there is no example that demonstrates that they were good decisions.
Certainly, something had to be done to prevent the banks from failing ... (several presidencies ago they should have began splitting banks that were "Too Big to Fail" or increasing regulation to prevent them from taking on unnecessary risk) ... but the bulk of what is being done is completely unrealted to the problems and more closely resembles a wish list of the most "Progressive" members of the Democratic party.
While mortgage resets remain high the foreclosure rate will remain high because of (and causing) lower property values, and while property values remain low and foreclosures remain high consumer confidence will remain low because of (and causing) increasing unemployment. It is going to be sometime in 2012 before we really get to the bottom, and so far the government has spent more money in less time than anyone ever has ... How much money will they have spent before the end of this, and will we be facing hyper-inflation before the economy recovers.
