Barack The Savior?

WOW! Greed...one of the seven deadly sins...does bring out the worst in people, now doesn't it? I listend to Barakch Obama speak and I never heard him say, 'I think my only task is to rescue the economy'. When did he say that? Barack Obama does not have to save capitalism itself. But, he WILL have to save Americans from themselves and i did hear the man state that he feels a moral obligation to do so. Americans who think this is a racial issue have never read the book of Genisus. Pardon me, but, the Bible is not just a book of religion, it is also the oldest history book on the planet Earth. In the book of Genisus you will find a story about a man called, Hay. Hay's claim to fame, as it were, was that he was a fair skinned black man who was credited with the original thought of a 'white race'. After conceiving this 'original thought' he dedicated the rest of his life to creating a white race. There is no such thing as a white race because the notion and establishment of such an idea came from a black man. Further, if you do not live in such states as California & Colorado, you may not yet understand what Congress is trying to tell you about your mortgage. But let me break it down for you, brace yourselves for a 35 to 50% correction of your original loan balance. In other words, if you financed your house for $200k it is now worth...best case scenario...$130K and, yes, the banking industry just wrote off all of your upgrades. The good news is that you have 30 years to pay it off, maybe with alot of luck by then it will once again be worth $200k. Do not fret so much, the value of your mortgage will NOT get you into heaven and this is what I heard out of Barack Obama's mouth...reapeatedly. Americans "have a moral obligation" to be accountable for their own actions, individually and as a country. Greed does not equal = moral obligation. Greed can make a person immune to feelings and not all poor people are lazy. As the 80 something generation will tell you; learn from your mistakes so that you do not repeat them it is not polite to point your finger at others, flaunting your wealth is vulgar, and compassion clenses the soul.

Here's a fact: the ratio of national debt to gross domestic product was 1.2 to 1 in 1946. Today its 0.5 to one.

Citizen suckers, hear this: we could run up cumulative federal deficits in excess of 10 trillion dollars over the next four years, and be fiscally poised for the future, just like we were at the dawn of the cold war.

$10 trillion... that's what Obama could borrow in his first term, and end up making us all better off than we were when he arrived at the White House.

These bailouts have to stop...they will utterly bankrupt us if left unchecked. The major corporations in need of bailouts all laid the seeds for their own disasters. There is little incentive for them to stem the greed and disconnection from reality that led to these disasters.

-Overproduction of massive SUVs and trucks for Detroit
-Predatory lending leading to customer bankruptcies and balance-sheet losses from customers unable to repay debt, by the credit-card companies
-The lack of credit standards that led to the subprime deba

I do believe the biggest single obstacle to the world's continued progress is the rapacious greed of the modern major corporation - at least the ones who have become focused on profits at any means, up to and including eating their own customers alive, so to speak. We have *got* to find a way to get the gluttonous, lavish-conference-attending, nine-digit-salary-taking corporate mentality out of our hearts and minds. When a corporation ceases to offer genuine products and services to an economy, instead reaping massive benefits through monopolistic, bureaucratic, and predatory tactis, it becomes quite literally a cancer within the larger economy, gluttonous for a disproportionate share of rewards and resources

We need to get back to doing BUSINESS with our businesses, girls and guys - trying to make sure that Americans are housed, fed with nutritious food, able to get to work, medically taken care of, and the like. Profits aren't business. I know people who would mock me and laugh at me quite literally for hours for saying this; that's fine. They're the ones we need to excise from our economy with better protective regulation (reinstatement of usury laws and more) before, just like a cancer, they eat out the economy nourishing them and then take the economy with them as the whole thing dies from systemic failure.

Save capitalism? Just what does that mean? The last time I ran capitalism in wikipedia.org it gave me 24 variations.
What Obama has to save is free enterprise and that is a far cry from the brand of capitalism the Reagan/Bush economic policies were all about. Some how Bush and his economic team thought the consumer who is the very base of the economy would continue by some act of magic. The consumer is completely left out of the equation. Even forced out by the outsourcing of jobs and the movement of manufacturing out of the country.

I know from experience American manufacturers can compete with China. Where the playing field starts to look like it is on the side of a mountain is in the quality of products made.
American manufacturers are not keen on producing junk; the Chinese have no such qualms.
The fact is the lower wages in China are more than offset by shipping, brokerage, and corporate profit and always have been.
Much of the problem could be cured by simply demanding minimum quality standards in the products imported into this country. Granted it would require amending trade agreements but it is time.
This would level the playing field and awaken the free enterprise system in America.

How can this guy be called a 'saviour' one week after the election? Its obvious he is going to run small business into the ground. I studied hard and worked hard in my business, I didnt go out partying and having babies and buy houses I couldnt afford, only to have the government come to the rescue. We are the ones that get penalized for being responsible. Do you also want a president that has ties to terrorists and has people on his staff that wished 'death' to people? He has no idea what he is doing, but people fell for it. Especially ones with nothing to lose because they want other people's money.

ODUMA IS THE DESTROYER!!!! H E I S A L O S E R AND ALL THE IDOITS THAT FOLLOW THE MISSIAH.

If this article is a foretaste of the kind of economic analysis that we are going to be treated to in the ensuing four years, then we are truly doomed. At the end of the third paragraph we are told that we are witnessing the end of free-market absolutism. If this sort of assertion is going to be the keystone of future economic analysis then policy makers are going to fail before they get started. It is nothing less than a religious dogma to assert that the economy of the US or any other nation is anything close to an absolute free market.

The economy of the US is a mixed economy; a combination of free market aspirations smothered by a blanket of statist controls. The only real principal at work here is that mixed economies are unstable, and when the tipping point is reached they either collapse into chaos, or to avoid that, reorganize around statist principals of socialism or fascism. Three guesses which way we are heading.

In paragraph five, we are told that globalization of finance allowed Americans to live beyond their means. This was only a secondary unintended consequence of the primary motivation, which was to allow government to live beyond its means. The amount of money lost by even the largest of the companies involved in the current crisis is trivial when compared to the amount of money squandered by government at all levels (think: war).

The only national institution big enough to bring down the economy is the government itself. It is very hard to see how the agent that is the cause of present difficulties is going to be the agent of our salvation.

The Federal Reserve ??? the very institution created to prevent such economic disasters, brought on the depression of the 1930???s. The lesson we took away from that episode was that when it happened again throw as much money at the problem as quickly as we could. And we have done just about that and it hasn???t worked very well. When you fight your next war with the weapons of the last one you lose. So 78 years later once again the Federal Reserve has done it again.

If we are to fix this mess so that it won???t happen again we need to take a very deep look into all the ways that the federal government caused it in the first place. Of course that???s like asking the foxes to a report on how to keep them out of the hen house.

Save it...Obama is a socialist...thus believes in the Opposite of Capitalism .... when is the news media going to get off the love affair with this idiot and start treating him like everybody else...like his stupid 8 page form to join him team in DC... they ask question that Obama couldnt pass...what a Hypocrite....asking if people own a gun and whats in their diary...Capitalism...My God this is Nazi Germany 1930's

The article says "In Roosevelt's first 100 days, he not only saved the American economy but probably capitalism itself. How? By restoring it to health with a large dose of socialism.".
Why not tell the truth? FDR's programs kept the Country in a Depression for another 8 years. It wasn't until the start of WWII in December 1941 that we started recovering. Is this intended as cover for Obama's socialistic programs?

Reading some of the rants on this blog, it is clear what is wrong with the education system in the US. Unless an article is written on the 6th grade level, it cannot be comprehended by the average American.
Although I don't agree with the premise that the new President will need to save capitalism, it is clear that the free-market approach will not work, primarily because the excesses of that approach resulted in this crisis. I also don't agree that the World supported us so that we could enjoy excess living standards. They did it because 1) We support their economies, because we are a consumer nation and 2) We have exported so many jobs and technologies overseas that have opened new markets in nations that have a better work ethic than we do.
In many nations, average workers are better educated and equipped to produce than we are. But not too long ago, in the 80's, our productivity was the highest in the world. After 8 years of neglect and economic gluttism, we are paying the price. We are like fat, lazy people in our lounge chairs while the rest of the world feeds us. And now, guess what, we're on a strict diet that is becoming a starvation diet, and it is going to be more painful.
Obama can only do so much. This "walking" on the razor's edge is not possible and there will be some mistakes along the way. However, if he can encourage us to increase our output, provide a means for a better and higher education, create and bring back jobs, improve technology, and provide necessary and enforceable oversight, then we can pay back our debt to the world economy and re-establish ourselves as the leader of the free-market world.
However, that will not occur without a real change of attitude, a willing to sacrifice and a halt to all of the "can't do" nonsense that the Rush junkies keep spewing. Being obstructionists at this time is not only inappropriate, but dangerous.

Well, for heaven's sake, set the man up to fail, why don't you?

No one person can effectively solve the mess we have gotten ourselves into, and it is ludicrous to imply that Obama or anyone else is, or will be, a savior. Let's have some rational discussion, and let's admit the obvious - we didn't get this dysfunctional in one election cycle or because of one person, and we won't heal in one election cycle and because of one person.

The sobering truth is that everything has been badly over-valued for a long time, and we will all pay the price for a long time to come. Gasoline, houses, union wages, cars, dividends, profits, college educations, vacations - everything was over-inflated and artificially priced too high.

It is everyone's fault, and no-one's fault, but the correction of over-inflated Everything is inevitable. Rather than looking outward for a savior that doesn't exist, we would all do better to look inward and examine what we as individuals did to maintain our greedy lifestyles, and what we can do now to lead our lives differently.

But electing Obama Savior-in-Chief is not going to fix anything. And neither will he, without a lot of help from all the rest of us.

Well, let's see. Republicans who apparently think that they are capitalists are calling Obama a Socialist while Republicans socialize businesses which are "too big to fail". The only definition of capitalism that one can create out of this peculiar position that Republicans take is that only small businesses can be capitalists and once a business gets "too big to fail", then it can be a "socialist" business if it starts failing and receive government money and control. Since the socializing of large businesses with government money is a plan named "Bush", a Republican president, the only way that republicans can continue to be capitalists is to say that some president a few years ago actually did this and he must have been a Democrat because Republicans are always capitalists and never socialists. And, of course, the Bush Republican president only did it while a former democratic president held his hand and made him sign it under duress. Otherwise, he would stand back and let businesses that do bad business fail as they deserve to do in a capitalistic society. Charles Dickens would love to write about this. It has all of the elements of "Alice in Wonderland", and "Through the Looking Glass". "When I use a word, it means what I say it means". If you are a Republican, then nothing that you ever do will ever be socialism, no matter what you do.

Just think if McCain would have won he would be consulting with Sarah Palin and Joe The Plumber.

Oh, God...FDR, WWII...hope it won't be Obama, WWIII. And oh, does "anyone" know what Obama has accomplished that shows he can do anything other than become the President of the U.S. by saying "Change" and smiling his arrogant smile. Where the beef!!! No copies of his grades, transcript, birth certificate, no articles in the Harvard Review...where the beef!