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Economy
'Obama economic team admitting defeat'
2010-09-23
[Iran Press TV] President Barack B.O. Obama may finally acknowledge that his economic team and policy have been a failure, says a senior American journalist.
How does one become a "senior journalist"? Other than by going on social security, I mean.
I believe one waits for one's predecessors to die, thus making room for one to be promoted. Sometimes they retire or are fired, of course, which is much pleasanter than the alternative for all involved.
Jeffrey Steinberg, a senior editor with Executive Intelligence Review,
Ahah. The Lyndon Larouche outlet. I can see we're firmly ensconced in the main stream of opinion here.
said the recent resignations of top presidential aides along with the planned departure of the top economic advisor may finally result in US president Barack Obama acknowledging that his economic policy is not working to save America's faltering economy.
I don't think B.O. is ever going to admit such a thing. I'm sure those resigning just need to spend more time with their families, take in a few soccer matches, go to some PTA meetings.
On Tuesday, the US administration's top economic adviser, Lawrence Summers, announced his plans to leave after the November midterm elections at the end of the year.
"I'm outta here! Back to Harvard, where theories have no consequences!"
"It (Summers' resignations) is a pleasant surprise because president Obama seems to be finally listening to the message that has been delivered to him by the vast majority of the American people and by the top officials of his own Democratic Party that economic policy of the White House team has been a total failure," Steinberg told Press TV on Wednesday.
It's probably more like Larry's been listening. The entire B.O. administration's headed for a crash and they don't want to get splattered.
Summers' departure would mark the third high-profile swan dive from the White House economics team since July.

In July, budget director Peter Orszag stepped down and chairwoman of the Council of Economic Advisers, Christina Romer, left earlier this month.

"These are the architects of Obama's economic policies who are being blamed by top Democrats in Congress for creating the condition that is expected to be a political massacre in November," Steinberg added.

The resignations come amid reports stating a slowdown in the pace of the country's economic recovery.

The US Federal Reserves policy making panel says the growth of the American economy is likely to be "modest" in the near term.

The Federal Reserves' statements came ahead of the mid-term elections in November. The Fed has not announced plans to speed up economic recovery but says it stands ready to act if necessary.

Meanwhile,
...back at the ranch...
 the Fed's chairman has admitted concerns over the recovery. Ben Benerke said that the American economy is struggling to recover and needs a fresh stimulus to pull it out of one of the worst economic downturns it has seen in decades.
Posted by:Fred

#38  A 747 is a jet fighter? Who knew? (You would think he coulda scored at the last family reunion with a story like that. Next time, tell your cousins that Daddy was a ninja.)
Posted by: Swamp Blondie   2010-09-23 23:24  

#37  "I would not breed dogs that way"

True, AP, but dogs are valued and valuable beings. Saudis, not so much.

I think it's safe to say of just about any saudi "his family tree don't fork."
Posted by: Barbara Skolaut   2010-09-23 22:50  

#36  Rambler in Virginia---Charles II of Spain in the Wiki article had an illustration of Charles' pedigree. Family tree? More like a rootbound plant if you ask me.

Unbelievable! I would not breed dogs that way.
Posted by: Alaska Paul   2010-09-23 22:20  

#35  I suspect Justice is not only his own cousin, sister, uncle, and father of several goats...most of them dumb
Posted by: Frank G   2010-09-23 20:58  

#34  If you want to see the result of generations of inbreeding look at the story of Charles II of Spain.

The Wikipedia article says that as the result of cousins marrying cousins for generations among the royal families of Europe, Charles II was more homozygous than a brother-sister mating.

Posted by: Rambler in Virginia   2010-09-23 20:53  

#33  "We should give his words all the attention they deserve."

I think we have, DMFD. ;-p
Posted by: Barbara Skolaut   2010-09-23 20:36  

#32  Don't you mean being beaten by the maid?
Posted by: CrazyFool   2010-09-23 19:49  

#31  Now, now people. JUSTICE has taken time from his busy schedule of beating the maid, picking his nose left-handed, and reading this month's copy of PlayGoat to enlighten us with what passes for his wit and wisdom. We should give his words all the attention they deserve.
Posted by: DMFD   2010-09-23 19:48  

#30  I think it's more to do with the anxieties that result from boy-rape

What kills me is that these folks want to pass their unbending culture on to their children. They obviously hate it, both men and women. Yet they gift this to their own children, knowing that their own children will have to grow up in this mind-altering hell.
Posted by: gorb   2010-09-23 16:42  

#29  Justice -- LOL, Everyone's dad overthere is some sort of big-wig...I used to tell the iraqis my dad was a general (vice the former paratrooper turned welder he really was) and that I had 4 boys...oh for the stupid pretentious airs your culture puts on to look like big shots...
Posted by: Broadhead6   2010-09-23 16:42  

#28  Shouldn't people who believe that government spending + taxes create wealth be deemed sufficiently insane that they aren't allowed to vote?
Posted by: no mo uro   2010-09-23 15:32  

#27  Genetic mutations, TW? Or were you thinking of inbreeding?

Inbreeding concentrates genetic mutations, Grunter. Arranged marriages permit the defectives to breed, when they could not otherwise attract mates. A cultural tradition of close-cousin marriage means that people like poor JUSTICE have family trees that look more like barber poles than, well, trees. Then there's the long tradition of quiet sexual abuse of both boys and girls within the household, addressed directly by the Koran and Hadiths outlining permitted behaviours that to the rest of the world are seriously and unhealthily deviant. JUSTICE knows what I'm talking about, he has raved about some of that in Rantburg's pages over the years, using images that indicate mental problems that would concern me greatly were I his parent. What that means is that the tribes of the Arabian peninsula are genetically first cousins or so, even though their official family trees make it look like they ought to average second cousin variability.

As for the potty obsession, that holds true across the local culture, I'm told. I think it's more to do with the anxieties that result from boy-rape (Mr. Wife never, ever went into the coffee houses in Jeddah for that reason, although he purely loves Arab coffee) than poor toilet training techniques, which tend to display in other ways.

Either that, or it's a response to male coming-of-age circumcision. It's so much safer, healthier, and less traumatic to make that snip when the boy is a baby only a few days old -- they don't yet form memory at that age, and heal so much faster as well.
Posted by: trailing wife   2010-09-23 15:06  

#26  "Probably some 12 year wanna-be something playing on his dad's computer in Saudi kingdom."

You're too kind, JohnQC.

"Poopstein-Pee pee baum-Boo boo" sounds more like 4 or so.

Mental age, at least.
Posted by: Barbara Skolaut   2010-09-23 14:46  

#25  Hey, JUSTICE, did you know that you spelled deodorant wrong? But it's not your fault. It's because your parents never used any, so you were probably never introduced to the word.
Posted by: gorb   2010-09-23 14:46  

#24  What if I thought a Jet Fighter Pilot was a practice film showing of West Side Story featuring Bernardo?
Posted by: swksvolFF   2010-09-23 14:44  

#23  On an otherwise slow day, chew toys do liven things up. Probably some 12 year wanna-be something playing on his dad's computer in Saudi kingdom.
Posted by: JohnQC   2010-09-23 14:41  

#22  I like JUSTICE, he makes the dumbest Infidel feel good in comparison.
Posted by: Frank G   2010-09-23 14:33  

#21  "I don't think he'll be a fighter pilot like his beloved father, no matter how well-connected his daddy might be."

I dunno, tw. He might be able to get a plane off the ground - once.

If he does, I've got dibbs on the popcorn concession for the crash landing. :-D
Posted by: Barbara Skolaut   2010-09-23 14:04  

#20  > Obama is a short-term thinker, immediate outcomes driven!

I believe Obama (Like Gordon Brown) to be a Malignant Narcissist
Posted by: Bright Pebbles   2010-09-23 13:07  

#19  Poor JUSTICE is posting from Saudi Arabia, Sherry. We won't ask in how many different ways he's his own first cousin. By comparison, genetically Jews turn out to be on the 4th-5th cousin level, which is why not nearly so many of ours need institutionalizing. On the other hand, the fact that he's the son of a jet jockey and not of successful academics could explain at least part of the caliber of his thinking. This is why he thinks he remembers reading something on 3.October, 2006 that I didn't say to a person who wasn't there that day. I don't think he'll be a fighter pilot like his beloved father, no matter how well-connected his daddy might be.
Posted by: trailing wife   2010-09-23 12:29  

#18  Justice -- you sure about your father? He was also a jet fighter pilot

My perception is that you just may have a reversal problem. I do believe most of us would say, "fighter jet pilot."
Posted by: Sherry   2010-09-23 12:03  

#17  Begone thou son of Musboot, begotten on your aunt, begone thou drunken owl, thou cloven footed fool,thou moonstruck slave of Shaitan, begone.
Posted by: Grunter   2010-09-23 11:53  

#16  I'm still waiting for an answer, JUSTICE.
Posted by: gorb   2010-09-23 11:21  

#15  Modern Progressives (socialists) = Nazis.

Same goal, same hate, same smell.
Posted by: DarthVader   2010-09-23 10:59  

#14  Possibility of goat buggering also.
Posted by: JohnQC   2010-09-23 10:52  

#13  JUSTICE = Derangement syndrome.
Posted by: JohnQC   2010-09-23 10:51  

#12  Genetic mutations, TW? Or were you thinking of inbreeding?
Posted by: Grunter   2010-09-23 10:48  

#11  I still can't get behind the fact that the left has successfully branded the right as full of hate and racism when they demonstrate the opposite is true over and over and over. Conservatives need to keep holding the mirror up and shining the light on these kind of cockroaches.
Posted by: rjschwarz   2010-09-23 10:35  

#10  I still can't get beyond the source [Iran Press TV]. That's so bizarre my head hurts.

I applaud JUSTICE for throwing his anti-semitism out there for all to see. Most leftists hide their sick pathologies and force threads to pry them out over time.
Posted by: rjschwarz   2010-09-23 10:33  

#9  Oh, and JUSTICE dear, Daddy was a professor of biochemistry before he retired. It's a mark of intelligence to remember these little details, you know. No doubt he could have explained exactly which genetic mutations you inherited that so hampered your ability to think clearly. Before that he was listed as a U.N. resource, quite unlike your own father, I suspect, which is why you must hang out at internet cafes.

And before that, he trained Israeli snipers. Also unlike your father, I'm quite sure. A pity he can't afford to buy you a job and a wife to keep you busier on Fridays.
Posted by: trailing wife   2010-09-23 10:22  

#8  JUSTICE, are you just follow the crowd and, like a monkey, point at the problems they point out for you, or do you have a solution?
Posted by: gorb   2010-09-23 10:14  

#7  Poor, sad JUSTICE. The subject at hand is economic theory, which your bilious comment indicates is beyond your capacity to understand. Are Saudi teachers really so incompetent that they can't give you something to think about that will take your mind far from the imagined joys of the armpits of unavailable women?

Ladies and gentlemen of Rantburg, JUSTICE seems to have a masochistic need to be a chew toy, clearly the only profession he can qualify for. Please be so good as to oblige him until his latest IP address is banned.
Posted by: trailing wife   2010-09-23 10:02  

#6  Far, far too much analysis and credit for logical thought continues to be extended Obama and his group of thieves. This isn't about the process of economics. His thought algorithms reach no further than simple hues and colour, purple, black, or white. Problem solving in the Gulf via soda straws, childish thoughts of "why do they hate me" etc. Forget Harvard and Columbia, those were perhaps little more than convenient watering holes and social network sites along the sands of time. Obama lacks the skill, motivation, and possibly intellect required for critical thinking. He knows nothing of economics, nor does he care to. Examine Woodwards recent excerpts on his Afghanistan process if you will. Surrounded by critical thinkers, generals, planners, he loathes them all. Obama is a short-term thinker, immediate outcomes driven! In the bus - under the bus. The taking from one and quickly giving to another whom he personally deems worthy. There finished, done. Let's move on, have a smoke, drink a beer, take a holiday, appear on TeeVee. To coin an old phrase, "a farmer makes a plan." The farmer sees the future and the inherent requirements of survival. This man's future extends no further than the next round of golf or an upcoming holiday or foreign travel event. Like many of his ilk, his survival has been guaranteed by the State.
Posted by: Besoeker   2010-09-23 09:36  

#5  The thing about Keynesian economics, is that the man himself thought stimulus money spent in bad times was to have been saved up ahead by underspending in good times, not by borrowing from the future through deficit spending. So all those Keynesian deficit spenders are doing it wrong.
Posted by: trailing wife   2010-09-23 08:51  

#4  I've come to think of Keynesian economics as a big con game to get more money and control into the Federal government. It has nothing to do with the health of the economy. The latest version of Keynesian economics is to "ace out" the private sector completely.
Posted by: JohnQC   2010-09-23 08:34  

#3  Ben Benerke said that the American economy is struggling to recover and needs a fresh stimulus to pull it out of one of the worst economic downturns it has seen in decades.

Ladies and gentlemen, I present the problem!
Posted by: Besoeker   2010-09-23 08:24  

#2  I agree that BO will not ever acknowledge failure. It is one of those "force of the will" things that is the birthright of the American ruling class to exercise.
Posted by: Ptah   2010-09-23 07:59  

#1  Two years late and a trillion dollars short?
Posted by: g(r)omgoru   2010-09-23 05:01  

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