Obamanomics “it’s going to get worse”

December 7, 2008

nopeFinally a word of truth from Obama.  I could have told you that a year ago! This is another perfect example of just how dishonest his election rhetoric really is. For the last year he has lambasted Bush and the Republicans for ruining the economy – as if the Democrats had nothing to do with the last 20 years of disastrous economic, trade and monetary policies. Now that he is assured he will occupy the office illegally he changes his rhetoric. The reality is that he has no real effective change nor does he understand the real nature of our economic troubles, unless you believe his current explanation that “he is the change.” The false hopes and promises and the silly little “yes, we can” slogans of his deceptive campaign just aren’t going to cut it anymore.

Faced with the reality that we are heading into a worldwide economic catastrophe he now sagely predicts “it’s going to get worse.” What an idiot. Meanwhile he continues the same failed policies of the CFR elite that got us into this mess. He is just a stooge for the New World Order. Volker, Rubin, Geitner, Summers and failed FED policies are not change. He plans to officially put the FED in charge of the US Treasury. They already looted everything we had. All we have left is debt. Their policies are what has destroyed America’s economic and industry. He will only accelerate our demise. He’s already backtracking on tax cuts for the rich. Like Bush, he is now saying big deficits don’t matter right now. He is now saying he will “save” or create 3 million jobs. He only said create when he was running for office, now he is going to save them. You can only  dig so many ditches you moron and somebody’s got to pay for all this government growth. You can’t spend your way out of a recession with money we don’t have. Under Obama our economic growth will now officially become government growth. Welcome to the New World Socialist Order of BHO.

Yes, Obamanomics is going to suck!!! Under his tutelage it will get a lot worse. By the time this idiot is done we have piled up another 20 trillion in national debt. That is some real change. The USA is being officially bankrupted by economic morons. 

Obama: Economy to get worse before it improves

 


Dec 7, 10:15 AM (ET)
By DAVID ESPOWASHINGTON (AP) – President-elect Barack Obama said the economy seems destined to get worse before it gets better and he pledged a recovery plan “that is equal to the task ahead.”

Obama also said in an interview broadcast Sunday that the survival of the domestic car-making capacity is important, yet any bailout must be “conditioned on an auto industry emerging at the end of the process that actually works.”

Less than six weeks before he takes office, Obama said that help for homeowners facing foreclosure is an option as part of his plan. He sidestepped a question about when he plans to raise taxes on wealthy Americans.

Obama’s interview on NBC’s “Meet the Press” was his most extensive since winning the White House more than a month ago.

In the intervening weeks, the economy has showed clear signs of worsening. Employers said they eliminated more than 500,000 jobs in November alone and retailers reported disappointing holiday-season sales.

“The economy is going to get worse before it gets better,” he said twice in the early moments of the interview, taped Saturday in Chicago.

http://apnews.myway.com/article/20081207/D94TUJ4O0.html


Free Trade Robber Baron Warren Buffett suffers too

November 19, 2008

Well I’m not sure how much he is really suffering but he is losing money, and that is good news. The Bailout mooch extraordinaire thought he could get a free ride off a taxpayer financed bonanza. Buffett made his billions by exporting America’s premier furniture manufacturing industry to China. Good for you Warren, thats the American spirit. In the wake of his billions he left families, cites, counties and states jobless and desolate. The economic rape America for profit is what I call it. Well he is good buddies with the “chosen one”, man of the people, friend of the working man blah, blah, blah, Oblama.

I remember Buffett well when he went on the toxic assets stump scam with Hank Paulson. He said he wished he could get in on that deal himself. What a load of crap. Buffett could have bought any amount of those toxic assets he wanted at any time. What Buffett did get was the insider trading info that allowed him to invest 5 billion in Goldman and an equal amount in GE. Both which stood to gain from the new untrustworthy Paulson bailout fund. No conflict of interest there though. Buffett even revealed that Paulson called him to ask what he thought about the Freddie/Fannie bailout??? That is illegal insider information. Apparently it doesn’t matter when your Warren Buffett. His bank Wells Fargo also used their share of the bailout loot to rescue Wachovia from the clutches of chop shop junkie Citigroup. Nice use of taxpayer investment funds Warren. Did you know that beforehand and perhaps that is really why you were lobbying for the bailout to pass?

So I’m glad your losing money Warren. Your a lying American jackass. I hope you go bankrupt. I hope your future is desolate. There are some more Obamonics lessons for you in the near future.

Buffett’s Berkshire Falls Most in at Least 23 Years (Update2)
By Hugh Son and Linda Shen

Nov. 19 (Bloomberg) — Warren Buffett‘s Berkshire Hathaway Inc.fell the most in at least 23 years, dropping for the eighth straight day since reporting a 77 percent decline in third- quarter profit.

The stock plunged $11,550, or 12 percent, to $84,000 in New York Stock Exchange composite trading and has slipped 41 percent this year, compared with the 45 percent drop in the Standard & Poor’s 500 Index. Berkshire, based in Omaha, Nebraska, rose in 17 of the past 20 years.

“There’s nothing fundamentally wrong with Berkshire, what’s really happening is people are wondering if there’s something fundamentally wrong with the economy, and Berkshire is in some ways a bit of a proxy for that,” said Michael Yoshikami, president of YCMNet Advisors in Walnut Creek, California, which manages $850 million including Berkshire shares.

Berkshire has posted four straight profit declines, the worst streak in at least 13 years, on falling returns at insurance businesses and investment losses. Buffett, ranked by Forbes magazine as the richest American, has committed at least $28 billion this year to acquire companies, finance buyouts and purchase securities as prices fell and competitors were hobbled by limited access to credit.

Berkshire’s shareholder equity, a measure of assets minus liabilities, fell by about $9 billion in October on declines in debt and equity markets, the firm said Nov. 7. American Express Co., the credit-card company that is one of Berkshire’s top 10 stock holdings, plunged 47 percent since Sept. 30 as borrower defaults increased. Wells Fargo & Co., Berkshire’s No. 2 investment, dropped about 35 percent.

`Under Pressure’

“Many of the companies Berkshire owns, such as American Express, are under pressure,” Yoshikami said. “What you’re seeing is a systematic de-leveraging process taking all financials down, including good-quality financials.”