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Forums - General - Obama might be the dumbest president we have ever had.

Moongoddess256 on 16 March 2009

um. Have you not personally witnessed the people who have terrible credits who got loans from banks that they will inevitably default on?

I have. The problem was banks lending to people who have issues managing money... and charging an outrageous interest rate just to make 100% that they can't keep their shit paid. My friend is terrible with money, got suckered into getting a new car and is paying I think it was 18% on it. Thats a credit card interest rate. Shes paying a total of 30,000 on a car that cost 14,000. And of course in choosing whether to keep her home or her car when she lost her job... she chose the damn car.

But this is the shit that tanked our economy. Not that.



[2:08:58 am] Moongoddess256: being asian makes you naturally good at ddr
[2:09:22 am] gnizmo: its a weird genetic thing
[2:09:30 am] gnizmo: goes back to hunting giant crabs in feudal Japan

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Moongoddess256 on 16 March 2009
TheRealMafoo said:
SciFiBoy said:
rocketpig said:
I think it's bad when an emissary is sent to France, Germany, and Sweden with the idea of convincing their governments to spend their way out of this "crisis" and they all politely say "you're fucking crazy, yankee".

While I appreciate some of the things Obama has done socially (shutting down Gitmo, working to remove "don't ask, don't tell"), his economic policies have been a disaster thus far IMO.

 

from what i understand of economics, you have to spend money to get out of this crisis, doing nothing would be a disaster (massive unemployment, complete collapse of banking system and massive public service cuts, to name a few)

 

In less than two months, he's run the deficit up more than all the presidents before him COMBINED. There is spending money, and then there is what we are doing. It's crazy.

 

 

Also, rather than arguing with you, I advise you look up the great depression and what it was that brought the world out of it. That way you can see for yourself.



[2:08:58 am] Moongoddess256: being asian makes you naturally good at ddr
[2:09:22 am] gnizmo: its a weird genetic thing
[2:09:30 am] gnizmo: goes back to hunting giant crabs in feudal Japan

TheRealMafoo on 16 March 2009
Moongoddess256 said:
TheRealMafoo said:
SciFiBoy said:
rocketpig said:
I think it's bad when an emissary is sent to France, Germany, and Sweden with the idea of convincing their governments to spend their way out of this "crisis" and they all politely say "you're fucking crazy, yankee".

While I appreciate some of the things Obama has done socially (shutting down Gitmo, working to remove "don't ask, don't tell"), his economic policies have been a disaster thus far IMO.

 

from what i understand of economics, you have to spend money to get out of this crisis, doing nothing would be a disaster (massive unemployment, complete collapse of banking system and massive public service cuts, to name a few)

 

In less than two months, he's run the deficit up more than all the presidents before him COMBINED. There is spending money, and then there is what we are doing. It's crazy.

 

 

Also, rather than arguing with you, I advise you look up the great depression and what it was that brought the world out of it. That way you can see for yourself.

You should look at what caused it in the first place.

 



Slimebeast on 16 March 2009
TheRealMafoo said:
SciFiBoy said:
rocketpig said:
I think it's bad when an emissary is sent to France, Germany, and Sweden with the idea of convincing their governments to spend their way out of this "crisis" and they all politely say "you're fucking crazy, yankee".

While I appreciate some of the things Obama has done socially (shutting down Gitmo, working to remove "don't ask, don't tell"), his economic policies have been a disaster thus far IMO.

 

from what i understand of economics, you have to spend money to get out of this crisis, doing nothing would be a disaster (massive unemployment, complete collapse of banking system and massive public service cuts, to name a few)

 

In less than two months, he's run the deficit up more than all the presidents before him COMBINED.  

 

 I understand u overexaggerated, but is there any truth to that? What are the facts about the size of the Obama budget and reforms so far?

 

 



Jackson50 on 16 March 2009
TheRealMafoo said:
Moongoddess256 said:Also, rather than arguing with you, I advise you look up the great depression and what it was that brought the world out of it. That way you can see for yourself.

You should look at what caused it in the first place.

^^No, not while I am on duty. The policies of Hoover and Roosevelt did not end the GD.

^Yes, a credit-driven boom caused by loose monetary policy.

 



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SnesTea on 16 March 2009

Hmm, responding to these kinds of threads has gotten me banned in the past, so I will duck this out.



TheRealMafoo on 16 March 2009
Slimebeast said:
TheRealMafoo said:
SciFiBoy said:
rocketpig said:
I think it's bad when an emissary is sent to France, Germany, and Sweden with the idea of convincing their governments to spend their way out of this "crisis" and they all politely say "you're fucking crazy, yankee".

While I appreciate some of the things Obama has done socially (shutting down Gitmo, working to remove "don't ask, don't tell"), his economic policies have been a disaster thus far IMO.

 

from what i understand of economics, you have to spend money to get out of this crisis, doing nothing would be a disaster (massive unemployment, complete collapse of banking system and massive public service cuts, to name a few)

 

In less than two months, he's run the deficit up more than all the presidents before him COMBINED.  

 

 I understand u overexaggerated, but is there any truth to that? What are the facts about the size of the Obama budget and reforms so far?

 

 

 

http://online.wsj.com/article/SB123629969453946717.html

"Mr. Obama's $3.6 trillion budget blueprint, by his own admission, redefines the role of government in our economy and society. The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents -- from George Washington to George W. Bush -- combined."

 

The Author:

Mr. Boskin is a professor of economics at Stanford University and a senior fellow at the Hoover Institution. He chaired the Council of Economic Advisers under President George H.W. Bush.



non-gravity on 16 March 2009

Well George Washington's money would be worth nothing today.



theRepublic on 16 March 2009
Jackson50 said:
TheRealMafoo said:
Moongoddess256 said:Also, rather than arguing with you, I advise you look up the great depression and what it was that brought the world out of it. That way you can see for yourself.

You should look at what caused it in the first place.

^^No, not while I am on duty. The policies of Hoover and Roosevelt did not end the GD.

^Yes, a credit-driven boom caused by loose monetary policy.

 

1. The policies of Hoover made the Great Depression worse.

2. You make the cause sound so simple, and yet, economists do not agree on all the causes.



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Jackson50 on 16 March 2009
theRepublic said:
Jackson50 said:^^No, not while I am on duty. The policies of Hoover and Roosevelt did not end the GD.

^Yes, a credit-driven boom caused by loose monetary policy.

 

1. The policies of Hoover made the Great Depression worse.

2. You make the cause sound so simple, and yet, economists do not agree on all the causes.

Yes, the policies of Hoover and FDR prolonged the GD

The cause was simple. There were other minor contributing factors (inane policy of the SEC), but the loose monetary policy was the main cause of the crisis.