Comments on: Fed Pledges $7.4 Trillion For Credit Crunch

By: James Raider

James Raider — Sat, 29 Nov 2008 09:04:21 +0000

â€¦.Projections and predictions conjured by those who took the shotgun seat in the vehicle which drove us to the precipice.

We have created monsters in the form of omnipotent economists. They are not what they seem. On the other hand, perhaps we should reassure them.
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http://pacificgatepost.blogspot.com/2008/11/economists-our-new-philosopher-kings.html
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Perhaps society has simply overplayed them. It would be much more productive to listen to entrepreneurs.

By: Credit crunch

Credit crunch — Tue, 25 Nov 2008 10:16:09 +0000

This has nothing to do with Obama. He just came in, how do you expect him to repair economic damage 8 years old?

By: George Mauer

George Mauer — Mon, 24 Nov 2008 22:43:39 +0000

Oh look at that, that is actually exactly what he said at today’s announcement of his economic team. Sir, I demand you change all of your opinions immediately.

By: George Mauer

George Mauer — Mon, 24 Nov 2008 19:02:20 +0000

J. Harden,

Obama’s said that.
Really.
On multiple occasions.
Using almost those same exact words.

There is nobody that views this as going to be easy now or later. Everyone’s in agreement on the goals and even mostly on what we’re willing to sacrifice. The argument is about best tactics.

By: Paul

Paul — Mon, 24 Nov 2008 18:55:04 +0000

My prediction is that the ultimate end of this financial crisis is going to be the default of US government debt. There simply is no stomach in Washington to let the market correct itself– the government is going to spend even more money it doesn’t have in order to cushion the impact of the crisis from everyone and everything. This will continue as long as the US government can write blank checks. This will continue until the US government approaches default on its debt, and after that, it’s hyperinflation as the US govt prints money to prevent the default.

Unfortunately, periodic panics are a feature of capitalism and attempts to erase their effects will, ultimately, just shift the problem elsewhere.

I am overall pleased with the election of Obama (I did vote for him) but I believe he and his democratic colleagues will prolong, not hasten this crisis by failing to allow the markets to correct themselves.

By: J. Harden

J. Harden — Mon, 24 Nov 2008 18:47:06 +0000

In fact, many economists want Obama to be even bolder with his economic plans and push for $1 trillion or more in new spending.

First off, not every talking-plastic-head that use to be loan officer at their community bank should really be deemed an “economist” — even if these moronic bobble-head charlatans support your position.

More importantly though, this is going to be easy with nothing but economic benefits for my children right Justin?? I mean, we’ll just print more money or borrow more money…not a problem.

If Obama was a legitimate leader, he’d tell the truth to the American people: There is no easy way out of this, it is going to hurt, but we must sacrafice so that our children are not stuck with the bill.

Some people REALLY do not get it and Justin…you seem to be one of them, unfortunately.

By: Doug Mataconis

Doug Mataconis — Mon, 24 Nov 2008 16:58:44 +0000

It’s hard to take Ben Stein seriously.

Everytime he talks all I hear is “Bueller, Bueller……..”