Econ 101 for the Obamallamas

[APEXi240]

Contrary to what Barack Obama says, the fundamentals of our economy ARE STILL STRONG. The free market STILL works. Capitalism is STILL king.

This statement has bothered me since I first heard it. I would like to say however that I did not hear it in context.

First of all when discussing fundamentals, what is it in regards to? Fundamental ideals? Because if that is the case, if our fundamental principles and idealogies of economics are changing, there is more of a problem then a simple "recession". To say they are still strong is seemingly pointless. When I heard further commentary from McCain on this issue, it seems like that was what he was saying.

If said comment was made in regards to fundamental economic institutions, practices, procedures, and general and overall economic stability, then the statement I feel is indeed false. When you have economic institutions such as Bear Sterns, Lehman Brothers, Merril Lynch, Fanny Mae, Freddie Mac, WaMu, and AIG going under, being "bailed-out", bought up, or cherry picked, the fundamentals, the underpinnings of our economy are not strong.

With that said, will it cripple the US as a nation? No. Will it drive millions of people into severe poverty? No.

I'm not trying to bash McCain over the comment he made, I just thought the clarity of it initially was not there.

As an aside we should not have bailed out any companies. No government agency and ultimately tax-paying citizens, should bear the burden of mismanaged companies. Probably just the libertarian in me talking...

*edit

Greg your commentary on the course of action to be taken by McCain, Obama, and Clinton is dead on. They are all saying the same thing, and each "plan" will do nothing. Those are the plans of actions created because there is very little that the government can do in reaction to recent events, aside from pumping money into failing companies. Our government needs to stop trying to make us feel all warm and cozy, and be honest and straightforward. No one I've seen on the basic media outlets I watch and read has come out and said "We f***ed up, and now we will suffer the consequences for a few years. Suck it up."

[S13_love]

They are all saying the same thing, and each "plan" will do nothing.

Yeah...pretty much, i find it funny when the candidates talk about "fixing" the economy. This is untrue cause the only thing the can do, like you said, is pump money into the economy. Please tell me if im wrong but the economy pretty much has to fix itself.

[APEXi240]

It also should be fixing itself if we are claiming to be a Democratic society with a capitalistic economy.

But again no politician is going to sit there and tell us "Hey guys, not our problem, maybe you should not have applied for that 9th credit card to do a balance transfer for your 3rd line of home equity". No, they will sit and blame the opposing party, and come up with ingenious "plans".

[audtatious]

Hmmm...racist?...probably not, more like an arrogant a**.

Way to show a complete lack of respect there if anything...haha let me guess...you are not voting for obama?

I think you just lost all credibility there bud.

And I really could care less about my credibility. It's about equal to yours for arguing points that you have no clue about on here

[S13_love]

And I really could care less about my credibility. It's about equal to yours for arguing points that you have no clue about on here

Haha, hey all im doing is just trying to learn , we learn from our mistakes, right?

Anyways credibility should matter, i mean, more than likely i would not take any seriousness from any of your posts anymore, let alone ones stating facts about McCain and what the hell he's trying to accomplish

Well you made a comment about Obama and 36" dubs....blah, blah, blah

Let me have a try...

Palin is nothing more than a milf who has probably seen desperate housewives one too many times, and all she hopes is when she gets to office is to suck off McCain (hopefully scores a chance with good ol' bill) and congress from under a desk to get whatever is on her personal agenda done for all i know

[S13_love]

^ Ok that may have been a little harsh and i apologize for that. I should have been the better person and not stepped down to your guys level

[Jesda]

I think its important to examine the monetary policies that contributed to this mess. We are supposed to trust The Fed to make decisions that stabilize the economy, but that hasn't been the case.

The central bank failed to take action in the 1990s -- the internet bubble turned into the housing bubble, which gave us the oil bubble, which gives us today's high energy and food costs. Instead of letting out some air, Greenspan and company paid lip service to these issues and sat on its hands.

Bill Clinton, George Bush, Barack Obama, and John McCain have less to do with this than the candidates want us to believe.

Barack Obama will not save America with socialism, and may in fact weaken our nation.John McCain will not change anything by perpetuating the downward-spiraling status quo.And choosing socialism over an undesirable status quo is like driving a Lada instead of a Yugo.

This crisis is nothing like The Great Depression, which was triggered in part by heavy protectionism -- policies that Joe Biden would favor. Fortunately, Biden is only seeking to become president of the senate.

[audtatious]

Well you made a comment about Obama and 36" dubs....blah, blah, blah

So what? He could go to the hood and get votes that way. He can go to redneckville and offer new gun racks too. When people only care about today instead of looking towards their future they are easily manipulated. Instead, everyone simply want to point their finger and blame someone else for their problems instead of "growing a pair" and working to make their own way. My problem with the Democratic party as a whole is that they want to be the supplier to these people because they know better and what is right for everyone but themselves. A good percentage of Republicans in office are almost the same damn way and are a disgrace to what I feel is the conservative party.

[AZhitman]

Greg your commentary on the course of action to be taken by McCain, Obama, and Clinton is dead on. They are all saying the same thing, and each "plan" will do nothing. Those are the plans of actions created because there is very little that the government can do in reaction to recent events, aside from pumping money into failing companies. Our government needs to stop trying to make us feel all warm and cozy, and be honest and straightforward. No one I've seen on the basic media outlets I watch and read has come out and said "We f***ed up, and now we will suffer the consequences for a few years. Suck it up."

Agreed 100%. And they won't.

My gripe is that BO has somehow convinced people that he actually HAS an "economic plan". He doesn't.

He's convinced people that the state of the economy is dismal. Contrary to popular media hype, it's really not.

And I'm disgusted by his contention that a "commission" is any less credible or appropriate than "hearings".

YOU NEED TO KNOW what the snake oil salesman is selling!

[wingFeather]

I keep hearing the Democrats whine & hammer Bush, but I'm just not seeing it. I was in Vegas all week & people are still spending BANK like crazy. Everywhere I go I see people in a rush to buy silly things.

Obama will NOT save us from something that doesn't exist... especially without a solid plan.