It's really irritating to be put on watch like this. He goes on TV too much to say too little, and making us wait for it is... well, maybe there's a good reason.
UPDATE: Speech done. I didn't hear anything new... except that Warren Buffett would like to say we have a "quadruple A" rating if only there were such a thing. Beyond that, I hear the usual blather about how we need a "balanced" approach. In the end, he attempted to tie his economics homily to the terrible helicopter crash in Afghanistan. The 2 things aren't really connected, but he needed to give a speech on the financial markets and it would have been unseemly to appear and not say something about Afghanistan.
Drudge is going all "Persona" on Obama and Timmy:
The headline is: "Barackalypse Now."
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I heard he's stuck in a sandtrap on 18.
He's having trouble figuring out what to say.
And then they have to get it ready for the teleprompter.
He did this before with the bin Laden announcement, remember? Maybe they're gauging the reaction on blogs and Twitter to figure out what to say.
It could be leak testing.
This should be good.
Chronic lateness is a classic narcissistic trait.
Has Meade tested the leeks he grew at Althouse?
Have you guys eaten them yet?
Either he hasn't got his sh!t together (odds better on this) or he recognizes as soon as he speaks, the market jumps off the bridge (odd lesser on this)...
Either way you color it, it = LOSER.
Maybe he's knocking off a piece before the speech.
One of my friends asked me recently whether Obama's getting a little on the side.
This would seem to be the right moment to me. Lot's of orators think that a good blowjob is just the thing before delivering a really good speech.
Could be he's jaded and it takes a little while to finish.
Richard Barro in the WSJ called for his resignation today. (Barro is an economics professor at Harvard.) Perhaps we'll get lucky. I think Biden would be better. Even the Portuguese Water Dog would be better, but he'd have to learn how to speak, and what would he say?
"They talk about me as if I'm a dog."
That's the rub, isn't it? It would be worth the wait if he was going to say something important, but we're going to get lazily rehashed versions of things he said before.
Unless, of course, he's going to announce the decision to put together a committee to select a Blue Ribbon Panel that will decide the color of the binder they're going to put the supercongress recommendations in...so that they can be summarily buried in the Rose Garden along with the first debt committee's recommendations...by non-union groundskeepers, of course.
Dow has dropped another 100 points during the delay.
I'm not suggesting cause and effect, but what do you say in the middle of a classic meltdown? Nearly anything he says will not be helpful.
Or perhaps the makeup artists are putting some more gray in the hair.
Maybe he's going to tell us that the Republicans are jackasses. That's usually what he does when he screws up.
I'm not suggesting cause and effect, but what do you say in the middle of a classic meltdown? Nearly anything he says will not be helpful.
"I resign."
Market rally!
"Folks, we're 20th in line for takeoff, so it'll just be a little bit of time before we're in the air."
When you cite Warren Buffett's AAAA comment in your first three sentences, what does that bode?
"Well, maybe there's a good reason."
There is. Rush is hammering Litle Black Jesus like a tenpenny nail, so he's got to wait until he can speak without anyone calling him on his bullshit.
"...a debate where the threat of default was used as a bargaining chip..."
Please refresh my memory. Didn't POTUS himself use this threat repeatedly?
He's waiting for the confirmation from his broker that his gold purchase went through.
Pretty much all of his ideas have been bad, so it would probably be better for the market if he kept his mouth shut.
I wish, Freeman.
He's waiting for the confirmation from his broker that his gold purchase went through.
Heh heh heh.
FDR made it illegal for Americans to hold gold. O would probably do the same if he could get away with it. (He can't.)
He's been trying to get Jimmah Carter on the phone to ask his advice. Carter is wisely pretending to not be at home.
Obama's promises of prosperity are just around the corner.
Someone needs to come up with a logo that says "Downgrade" with the regular "o" replaced with the Obama O logo.
Stimulus 2? That's how I read the "help companies who want to help repair our roads and bridges."
I would suggest reminding us that the seas have not risen as promised. Mission accomplished!
And we're below 11,000!
LOL
"There will always be economic factors we can't control."
"extend the payroll tax cut".
No. If an employer doesn't want to take a risk on hiring new employees, this doesn't do anything.
They need certainity about the future. Not a temporary giveaway. How about repealing Obamacare. Neutering the NLRB. Tort reform.
He just doesn't understand how a business works.
FDR made it illegal for Americans to hold gold. O would probably do the same if he could get away with it. (He can't.)
How much gold is in Fort Knox and whose is it?
"Barry, just take your nine like a man and move on to the next hole."
"DAMMIT, JOE! I STARTED THIS HOLE, AND I'M GONNA FUCKIN' FINISH IT!!!"
How much gold is in Fort Knox and whose is it?
A couple olympic swimming pools full and the Mayans.
Meltdown continues--Dow down 450. Obama is hiding. Does not want the chart to be running side by side with his Great Oration.
Wow! That looking from far left to far right, moving his eyes from one prompter to another is really annoying!
He never looks straight on into the camera!
Props to POTUS for the helo crash mention.
"...I'm not suggesting cause and effect, but what do you say in the middle of a classic meltdown?"
The spice must flow.
For the President of the United States to be an hour late for a scheduled address in the middle of an international financial crisis is utterly irresponsible.
It seems like I remember Dubya being fairly punctual.
I miss Dubya, and not just for the punctuality. He might have been a big spender, but he seems like the model of financial sobriety compared to the current occupant of the Oval Office.
JESUS CHRIST!! GET HIM OFF THE AIR BEFORE MY IRA GOES NEGATIVE!!!
BARACKALYPSE NOW
We waited for THAT?
No questions. No surprise.
No change in 2012? No hope.
Well, I feel better now.
Hoosier Daddy: nice Dune ref.
Wow. That was a brisk exit, was it not?
The feed I was watching glitched for a minute. Did he say that we needed to extend unemployment benefits further?
Fox News' first story line... President Obama says the Tea Party is at fault.
Wow. That was a brisk exit, was it not?
"Uh... Hey, guys. Uh, don't sell off your stock. We'll be okay. You know like before. Uh... Troops!"
Whoosh.
Heard Alan Simpson being interviewed last week. We need more people like him. He said it will be all but impossible to cut the deficit as once you list a few specifics, everyone throws a fit.
He also rightly blamed both Republicans and Democrat cacauces as they are mainly concerned with attacking the other party, then actually doing productive work.
"Wow. That was a brisk exit, was it not?"
He probably realizes the TOTUS is the only thing standing between him and the pitchforks. . .
Why did he come on TV to say that? None of that was pressing.
@ Scott M
Of course it was a brisk exit; he has fundraisers to get to.
Maybe it's already time for a "Will Obama be reelected?" poll.
Answer: no.
He does this a lot.
I don't know of they think this makes Obama seem smarter? Maybe they realize the MSM's bias leading up to his speech will help Obama?
Maybe they are so disorganized that they are rushing to edit nitpicky aspects of the speech and reload the teleprompter, delaying the speech?
It makes Obama seem out of control of even the minor details like having his speech ready on time. By now, he should just give his people an extra hour to prepare.
Of course it was a brisk exit; he has a bus to catch.
Adjusted.
WV - "nalist" a nihilist from the Big Easy.
"Roads and bridges" = "more money for unions"
He likes the "power" he has over the press by making them wait for him, doing nothing else while they wait for his "words of wisdom". Soon, hopefully they'll notice that he speaks many words, yet says nothing.
wv: trehyd
The president of my son's high school is fond of saying "We don't have a great school because we had a great school."
I've been thinking about that a lot. We're not a great country just because we were a great country and I'm not so sure we're a great country anymore.
What was the point of that?
My guess is that he had a longer speech and scrapped it based on events.
A handful of loosely organized, ill educated bigots is overwhelming the United States. And he does not mean the Taliban.
Aaaannnddd, Take 2, aaanddd, ACTION!!
My ex-gf used to live in Kenya. She called that kind of behavior "running on African time". I, however, can't say that - that would be racist.
This White House is astonishingly oblivious to the rule that a President should not overexpose himself.
I learned that from reading my grandmother's subscription to "Human Events" when I was in 8th grade.
How hard a concept is it to grasp, not to send the President in front of the cameras every damn day, so say something pointless?
Someone must really love the sound of Barack Obama's voice . . . .
Speech summary:
"My fellow Americans, I got nothin'. Thank you."
Apparently the Zimbabwe experiment has failed.
Well, at least we know why he was delayed. His barber was touching a little Shinola on his gray. Then Zero came out and delivered the same old Shinola to us.
Sigh ...
Man, this is a tough crowd.
--"*to* say something pointless"
When in front of the cameras, do try to make a point, please.
This must be either Tim Geithner or Jay Carney speaking:
"Why ? Why would a nice guy like you wanna kill a genius ?
You know that the man really likes you. He likes you, he
really likes you. He's got something in mind for you. Aren't
you curious about that ? I'm curious, I'm very curious. You
curious ?There's something happening out there, man.
You know something, man, I know something that you don't
know. That's right, jack. The man is clear in his mind, but his
soul is mad . Oh yeah. He's dying, I think. He hates all
this, he hates it! But ... the man's ... uh ... he reads poetry out
loud, alright? ... And a voice! A voice. ... He likes you because
you're still alive. He's got plans for you. Nah, nah, I'm not
going to help you, you're going to help him, man. You're going
to help him. I mean, what are they going to say, man, when he's
gone, huh? Because he dies, when it dies, man, when it
dies, he dies. What are they going to say about him? What, are
they going to say, he was a kind man, he was a wise man, he had
plans, he had wisdom? Bullsh-t, man! Am I going to be the one,
that's going to set them straight? Look at me: wrong! ... You!"
First, he's practicing his walk.
Maybe, he had to go to the bathroom?
Why not just plug in the teleprompter, and a recording? We could call this "the new radio for the deaf."
I don't know. Were you going to listen?
I can't help buy think of the movie Spies Like Us when Akroyd and Chase pass themselves off as doctors but then are expected to perform a surgery. That's how Obama probably feels right now; having no relevant experience for the job and is finding out he had no idea what hes supposed to do.
Don't be too harsh on the President for his quick exit, he knew that Michelle had her eye on that last piece of birthday cake in the fridge.
Obama is responsible for the DOW, BUT only when it goes down!
/wingernomics
Garage, he and his party are responsible for the downgrade, and the downgrade is hurting the market.
It makes Obama seem out of control of even the minor details like having his speech ready on time. By now, he should just give his people an extra hour to prepare.
Maybe he should give the job to Malia and Sasha. They do their homework a day ahead of time.
In the land of hope and change, the Congress doesn't spend any money. Only Republicans do.
You're welcome America!
Obama is responsible for the DOW, BUT only when it goes down!
Come on, garbage, you've got to do better than that!
You need a new slogan.
By the way, have you read Ann Coulter's new book, "Demonic?"
She writes at length about the left's obsession with sloganeering. Almost like she was writing about you.
well, maybe there's a good reason.
Is he going to announce he will not run for a second term?
I love how he mentioned how great our entrepreneurs are. How high on POTUS' internal irony scale do you think that one went? Cuz I think it went all the way up and rang the bell.
A couple of years back, Obama gave 140 billion dollars to the IMF without authorization from Congress. I'll bet he wishes he could slip that back into the Treasury now.
This is the original article from WSJ:
http://online.wsj.com/article/SB123966889497015459.html
Maybe he'll apologize. It's hard to come up with 140 billion, and it's harder now that he's wrecked the economy with his strange ways.
"well, maybe there's a good reason. "
Oooops...wrong again...but rational
Garage, he and his party are responsible for the downgrade, and the downgrade is hurting the market.
That's not what S&P said. Not to mention conservatives two weeks ago were saying a downgrade would be no big deal.
garage mahal said...
Obama is responsible for the DOW, BUT only when it goes down!
I kind of agree. Why would he bring it down in the long run? I mean, think of all those unrealized 401(k) taxes the Feds are losing.
Maybe he's OK with stocks changing hands during a big sell-off.
Redistribution is his game.
Unless, of course, he's going to announce the decision to put together a committee to select a Blue Ribbon Panel that will decide the color of the binder they're going to put the supercongress recommendations in...so that they can be summarily buried in the Rose Garden along with the first debt committee's recommendations...by non-union groundskeepers, of course.
This sounds like the negotiations to end the Korean War.
I remember a line from M*A*S*H*
They agreed to the size of the table.
Something like that.
I remember reading something about negotiations of this sort - every detail was about power.
Then I remember my dad telling me what he would have done if he was Ronnie meeting Gorby.
Let them decide everything - let them present their offer, get up, walk around, bend over, say "Nyet"
and walk out.
Can't remember if he added, "Call me when you're serious" or not.
"I love how he mentioned how great our entrepreneurs are. How high on POTUS' internal irony scale do you think that one went?"
I don't think Obama is capable of recognizing irony.
Obama is responsible for the DOW, BUT only when it goes down!
You said it Garage, not me. But it is true it is on his watch.
Debbie Wasserman Shutz said that the Obama Administration and the Democrats own this economy!
His speech will blame all trouble on Washinton DC that has not done what King Obama ordered them to do.
Eliminate votes in Congress or we will become confounded as the Wisconsin Legislature did once it was allowed to vote.
The refusal of his personal monarchy is all our fault.
That's not what S&P said.
U sure about that?
Maybe U should read Megan McArdle's comments section.
I listened to a number of liberal friends over the weekend lamenting the harsh treatment Mr. Obama has gotten by everyone, sprinkled with calls that "We should just support our President." I just smiled and realized that it was hopeless to try and convince some people the sky is blue. They have their own eyes, and they work differently.
No specifics, no offers of compromise, no new ideas, nothing but more blame and more of the same. What a great leader.
"... and this time I mean it."
"George Bush is responsible for the GAS PRICES, but only when they go UP!"
/garbagenomics
That's not what S&P said. Not to mention conservatives two weeks ago were saying a downgrade would be no big deal.
That's because S&P doesn't differentiate between spending cuts and tax increases. The reality of the economy does.
As Rush said, get the government out of the way of energy and food production. Two things we do better than anyone else and two things in demand. Not a complete solution but a really good start.
What a jug eared fucking douchenozzle--I have reached the point where even Joe Biden is a more credible leader than the current idiot occupying the teleprompter.
A total fucking loser--(well, to be clear--obama first and biden second)
Obama spoke. A nothing speech with nothing new and nothing but platitudes and blame.
Dow down 530.
S&P down nearly 6%.
Heckuva job, Barack!
I don't think Obama is capable of recognizing irony.
Possibly. Just as likely is that he's the ultimate embodiment of irony and we're just not in on it. You have to admit that explains a whooooole lot.
Remember in liberal lala land, we should just have unlimited spending, more spending, money is no object. Never mind that the debt is 100% of GDP, just spend more. Don't bother me with pesky details like how its supposed to be paid back.
Did anyone care what he said? Did he something that nobody could have predicted ahead of time? Do we need to see him on TV?
I associate a lack of punctuality with a lack of reliability, competence.
I imagine it irks even some of his backers who were waiting on an "announced meeting between him, the investing community, and the people" to see the african american Prez saunter in 43 minutes late.
Then fail to raise confidence in the slightest in his speech. All rhetoric and finger-pointing.
America's leadership is broken. It isn't just Obama.
Stimulus 2? That's how I read the "help companies who want to help repair our roads and bridges
That makes NO SENSE!
IF they want to help, why aren't they?
As Rush said, get the government out of the way of energy and food production. Two things we do better than anyone else and two things in demand. Not a complete solution but a really good start.
Prolly two types of stocks to buy this week: food and energy.
Plus it sticks a thumb in the eye of the beltway liberals who despise flyover country food producers and loath big oil, gas, and coal.
Rush put it right
For 2012, Obama is:
Debt Man Walking
Dow down 600.
The Dow just broke 11,000 negatively, Own It!
If this is his approach to fixing the economy, doing more of what tanked it, he's toast in 2012 no matter who he runs against.
Lot's of orators think that a good blowjob is just the thing before delivering a really good speech
Given what has been said about Nancy's very special talent, then it is no wonder Reagan was such a great orator.
I never watch that stupid cocksucker, ever, but was he wearing a jumpsuit and was there a "Mission Accomplished" banner behind him?
My friends who think "Obama is being treated worse than any President in their lifetime" had no knowledge of the fact that a 2006 movie depicting Bush's assassination was made and received a number of awards. They simply never heard of it, and believe the media is pretty even handed, except they are too hard on Obama.
These people will vote for Obama again no matter who is running against him, and they think they are smart, sophisticated and open-minded.
Via Insty from The Daily Caller:
Hillary Told You So
As Democratic disgust with Obama’s debt fumbling spreads, Clinton supporters recall her '3 a.m. phone call' warnings—and angry, frustrated liberals are muttering that she should mount a 2012 challenge
wow, his speech made it worse.
garage mahal: Obama is responsible for the DOW, BUT only when it goes down!
Why, yes, actually. Just as your brakes are responsible for slowing your car down, but not speeding it up.
“This is the United States of America, no matter what some ratings agency says, we will always be a AAA country.”
That's the problem. We were always a Major League country. But under Obama's watch, we have been demoted to the minor leagues. And that's where we are going to stay!
At a luncheon in the members’ dining room at the Metropolitan Museum of Art on Saturday, a 64-year-old African-American from the Bronx was complaining about Obama’s ineffectiveness in dealing with the implacable hostility of congressional Republicans when an 80-year-old lawyer chimed in about the president’s unwillingness to stand up to his opponents. “I want to see blood on the floor,” she said grimly.
A 61-year-old white woman at the table nodded. “He never understood about the ‘vast right-wing conspiracy,’” she said.
Looking as if she were about to cry, an 83-year-old Obama supporter shook her head. “I’m so disappointed in him,” she said. “It’s true: Hillary is tougher.”
Awww, reality finally slowly seeps in.
"Lot's of orators think that a good blowjob is just the thing before delivering a really good speech"
This is a common belief in many professional and non-professional fields. It seems likely to be true, and if not, it's still a nice show of support.
Damn, what a disappointment. I thought sure he was going to announce that the oceans had stopped rising.
At times I'm torn as to whether this is incompetence on display or just part of the.overall plan.
Seeing Red...I personally dispise the slimeball Clintons, but she is right. Between Edwards, Obama, and Hillary, who would you want to respond to a crises? No, you cannot add to the list of options.
Your time doesn't mean shit, Professor. He will give his speech when he is ready to give his speech and he wasn't ready at 1 when he said he would be ready. Your time is worthless. His is very very valuable. Not only is he in over his head. Not only is he a dipshit. He is rude as hell.
Ya when you start wishing for Hillary-....
Holy...*mega swear word*.
Whoever thought that would happen?
Yes, yes. But the important question is...is he primary-vulnerable yet?
BWAAAAAAAAAAAAAA
THE CURSE STRIKES AGAIN!
Via Insty:
Obama cites Warren Buffett for debt downgrade advice on the day Warren Buffett’s debt outlook is downgraded
Dow is tanking because they knew Obama would be tardy.
Hillllaaaaaarrrry help us!111!
Lots of orators think that a good blowjob is just the thing before delivering a really good speech.
Always worked for me.
Do you think Michelle does Deep Throat or is she one of those girls who only concerns herself with the first two inches?
Tight Ass! Where are you?
Sorry, but what in the hell can you do but laugh? Obama has become a laughing stock.
Your time doesn't mean shit, Professor. He will give his speech when he is ready to give his speech and he wasn't ready at 1 when he said he would be ready. Your time is worthless. His is very very valuable. Not only is he in over his head. Not only is he a dipshit. He is rude as hell.
Besides, Althouse, he's black and you're not.
Dow is tanking because they knew Obama would be tardy.
Nope. That was built into the drop at the opening bell. The guy is just that easy to predict.
Dow is tanking because they knew Obama would be tardy.
Very insensitive of special needs presidents, Garage.
Yes, yes. But the important question is...is he primary-vulnerable yet?
Nope.
And Hillary is the answer to that question.
Remember all the huge states she won?
Well trust me Cuomo has done the demographic math....
It's too much identity politics on that side of the house and it's come home to roost-so to speak.
"What's with Obama saying he's going to speak at 1...and 42 minutes later, he's still not speaking?"
They had to break out a new teleprompter. When they loaded the speech into the first one, it committed suicide.
Watch that clip over at Breitbart from that female SBO.
I love what she said about The Won inheriting a mess.
I inherit a mess every single day. It's my job to fix it.
At this point either he can't - cos he's that stupid or won't.
Seeing Red: Looking as if she were about to cry, an 83-year-old Obama supporter shook her head. “I’m so disappointed in him,” she said. “It’s true: Hillary is tougher.”
We'll know she's serious when suppression of the thesis starts all over.
I inherit a mess every single day. It's my job to fix it.
Yeah. Definitely a money quote. It's so elegantly simple (redundant?) that one wonders why nobody else made that statement in context among the political punditry.
Don't believe anything the S&P wrote in regards to the downgrade - things like, the need of tax revenue.
LISTEN TO LIMBAUGH
As Democratic disgust with Obama’s debt fumbling spreads, Clinton supporters recall her '3 a.m. phone call' warnings—and angry, frustrated liberals are muttering that she should mount a 2012 challenge
The thing is, Obama has been highly effective at passing the liberal agenda. Socialized medicine has been the liberal dream since Truman. Obama got it done.
The problem with Obama is that he did exactly what the liberals wanted him to do. Now they're unhappy with him because their ideology has brought disaster to our economy and to our markets.
Essentially he told us that he's going to "double down".
Someone needs to get the hook and pull Geithner and then walk around the White House with this sign-
It's the SPENDING,....you Geithner worshipers...
The thing is, Obama has been highly effective at passing the liberal agenda. Socialized medicine has been the liberal dream since Truman. Obama got it done.
Even if you agree with this dream, trying to pass a new entitlement of this size in the midst of the "worst economic recession since the Depression" as Obama calls it, was a dreadful mistake.
Along with the continuing suppressing of energy exploration and production, you've really got a fucking mess.
Obama got it done.
Did you mean "Pelosi"?
Obama got it done to the extent that he had electoral coattails. But then you could equally well say "McBush got it done."
garage mahal said...
Don't believe anything the S&P wrote in regards to the downgrade - things like
This?
the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.
You've beclowned yourself yet again, garbage..
This crash is not about the downgrade. The downgrade is a coincident event, not a cause.
The crash is about the three principal factors that underly the downgrade: (1) the deficit, (2) the Congressional dysfunction and bickering and (3) the utter lack of leadership by the President.
These three factors exist independent of any rating agency action.
In fact, Obama is lucky that the downgrade came. It gives him a new repository of blame and responsibility, other than himself.
I wonder how these f^ckers portfolio's are doing today:
Dali-Obama Endorsing Celebrity Doucheoisie
To assert that "Obama got it done" is a slight to speaker pelosi who apparently had a much larger set of balls than Obama has--she got it done.
And with any luck it will be undone after 2012 when the Rs own both houses of congress.
Obama is an effectual ass sucking cretin with no discernable skills other than persuading people to vote for him on the flimisiest of reasons.
Those days are done I hope.
It is the same speech he has been giving. Talk about the source of problems with compromise or getting anything real done, he shows exactly what the problem is.
The Republicans need to come to session and pass a resolution to take 30% out of the budget. Let the department heads figure out who gets fired, etc. They could start by getting rid of the DEA, EPA and all the other government agencies.
The Pres seems to have come to the same conclusion I had; S&P downgraded us not because our fiscal house isn't in order, but because the political sausage making involved in getting the debt ceiling passed was too public and too ugly.
Quite frankly, if that's the case, it's ridiculously petulant. This juvenile desire for comity over good policy wasn't amusing when Jon Stewart was blowing it. I hate to think S&P is run by the mental equivalents of Jon Stewart.
"...Don't believe anything the S&P wrote in regards to the downgrade -things like, the need of tax revenue..."
I just read the report and the rationale for the downgrade was lack of progress on 'containing the growth of public spending, especially on entitlements, or on reaching an agreement on raising revenues...'
Althouse wrote: Drudge is going all "Persona" on Obama and Timmy:
Perhaps, but more likely only second-hand via Coppola: link.
Drudge isn't exactly trying to reach the art film crowd- they voted for Obama last time.
garage mahal said...
Don't believe anything the S&P wrote in regards to the downgrade - things like
This?
Our revised upside scenario — which, other things being equal, we view as consistent with the outlook on the ‘AA+’ long-term rating being revised to stable — retains these same macroeconomic assumptions. In addition, it incorporates $950 billion of new revenues on the assumption that the 2001 and 2003 tax cuts for high earners lapse from 2013 onwards, as the Administration is advocating. In this scenario, we project that the net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 77% in 2015and to 78% by 2021.
See that garbage? Letting the Obama tax cuts expire on "the rich" is consistent with a AA+ rating.
You've made an utter fool of yourself yet again.
Tim, that clip looks pretty creepy now. What a gigantic fraud--the process and the man.
except that Warren Buffett would like to say we have a "quadruple A" rating if only there were such a thing.
Yeah, well, right up until it went pear-shaped Buffett was telling everyone there was nothing wrong with the banking sector.
If anything Buffett's public statements should be seen as a contrary indicator.
Then again if Obama needed revenue, why did he extend the Bush tax cuts garage? Why not just let them expire?
Hmmmmmm?
Obama: "I won"
Dow: "-531.91"
More cowbell
Bill said...
The president of my son's high school is fond of saying "We don't have a great school because we had a great school."
I've been thinking about that a lot. We're not a great country just because we were a great country and I'm not so sure we're a great country anymore.
No, we're now a bankrupt country in decline, with no workable mechanism to reverse course. The real question is: what took S&P so long, and what the f... is Moody's thinking.
See that garbage? Letting the Obama tax cuts expire on "the rich" is consistent with a AA+ rating.
So their upside scenario would include expiration of Bush tax cuts. And you think our current AA+ rating is because ...? LOL.
[...]The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.
In other words, Republicans
[...]It appears that for now, new revenues have dropped down on the menu of policy options.
Republicans.
[...]The act contains no measures to raise taxes or otherwise enhance revenues, though the committee could recommend them.
Republicans.
[...]Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.
Republicans.
What's with Obama..." should be the start of every sentence on every topic until November 2012.
They agreed to the size of the table.
"We have agreed. You are not orcs."
"But what have you decided to do about Saruman?"
"Decided? Don't be hasty."
The White House is being run by ents.
Yes, Garage, we understand you believe the problem is not enough taxes.
But then, you're a moron to believe that kind of crap, and so is Obama.
Biden: Great speech, Barry. That's exactly what FDR did during the Depression, got on tv and took it to the American people.
Obama: Shut up Joe. Just shut up.
But then, you're a moron to believe that kind of crap, and so is Obama
That was from the S&P.
But you just plugged your ears and stomped "OBAMA!"
Well Michelle was right about one thing, under Barack, we won't go back to our lives as usual.
Change.....
garage, Asking which side is responsible for a stalled negotiation is like asking which blade of a scissors is responsible for the cutting.
It's well known that a big sticking point was Obama's insistence that the debt ceiling be raised by enough to get him through the next election. Are you really going to say that was an act of selfless statesmanship?
Now this, this is a BIG F......G DEAL.
Just sayin.
The 2 things aren't really connected, but he needed to give a speech on the financial markets and it would have been unseemly to appear and not say something about Afghanistan.
He tried to connect them by saying, in essence, "we have to do this for the dead troops".
In much the same way he has told us in the past we have to do a better job for the little girl who was shot in Tucson.
It should be unacceptable rhetoric, but that's what he does.
Investors must have loved obama's words of nothing, the DOW is now rallying, and is now only down 413.65.
"In fact, Obama is lucky that the downgrade came. It gives him a new repository of blame and responsibility, other than himself."
This.
more cowbell-
Oh you want audio to go with this thread?
Krugman's love note to Giethner-
I've got your picture of me and you
You wrote "I love you" I wrote "me too"
I sit there staring and there's nothing else to do
Oh it's in color
Your hair is brown
Your eyes are hazel
And soft as clouds
I often kiss you when there's no one else around
I've got your picture, I've got your picture
I'd like a million of you all 'round myself
I want a doctor to take your picture
So I can look at you from inside as well
You've got me turning up and turning down
I'm turning in I'm turning 'round
I'm turning Japanese
I think I'm turning Japanese
I really think so
Turning Japanese
I think I'm turning Japanese
I really think so
I'm turning Japanese
I think I'm turning Japanese
I really think so
Turning Japanese
I think I'm turning Japanese
I really think so
I've got your picture, I've got your picture
I'd like a million of them all 'round myself
I want a doctor to take your picture
So I can look at you from inside as well
You've got me turning up I'm turning down
I'm turning in I'm turning 'round
I'm turning Japanese
I think I'm turning Japanese
I really think so
Turning Japanese
I think I'm turning Japanese
I really think so
I'm turning Japanese
I think I'm turning Japanese
I really think so
Turning Japanese
I think I'm turning Japanese
I really think so
No sex, no drugs, no wine, no women
No fun, no sin, no you, no wonder it's dark
Everyone around me is a total stranger
Everyone avoids me like a cyclone Ranger.
Investors must have loved obama's words of nothing, the DOW is now rallying, and is now only down 413.65.
Probably relieved that he didn't propose any new initiatives.
Can I get wasabi with that?
Oh, you're the President?
Who the heck is in charge of wasabi?
"...That was from the S&P...'
Try reading the report garage. The downgrade was over spending and revenue. I know you have your axe to grind bring the partisan hack you are but I just wanted to point out the facts.
Still don't want to face the fact that Obama extended the Bush tax cuts eh? Just blame that on Republicans. Typical.
Cedarford said...
I associate a lack of punctuality with a lack of reliability, competence.
I imagine it irks even some of his backers who were waiting on an "announced meeting between him, the investing community, and the people" to see the african american Prez saunter in 43 minutes late.
Then fail to raise confidence in the slightest in his speech. All rhetoric and finger-pointing.
America's leadership is broken. It isn't just Obama.
8/8/11 1:29 PM
Clinton, whose shit you eat, was famous for lateness. Was he incompetent, narcissicistically oblivious, sadistic, or strategically invoking the usufructs of power?
BTW the word you're trying to say without saying it is spelled ending in -er, not -ah. Don't worry about Althouse, she has no power to ban you and has stopped deleteting the word anyway.
BTW: You don't post on Belmont Club anymore. Did Pajamas Media block you or did you honor a request from Wretchard, or did commenters there use some troll medicine on you? I only ask because your soulmate Yenta Carol seems to have finally shut up over there, and I was wondering: fell or was pushed?
I feeling guilty over the smug feeling I have that this Presidency has unfolded just like I thought it would.
I feeling guilty over the smug feeling I have that this Presidency has unfolded just like I thought it would.
I feel regret for the same reason.
Dont' feel too bad Original Mike-
Geithner still looks smug when all his predictions go-
wrong.
Are we bad people, Scott?
"That was from the S&P.
But you just plugged your ears and stomped "OBAMA!""
I didn't know S&P set US policy.
Good to know!
Are we bad people, Scott?
Can we take a page from the moral relativists that got us to this point and say there's no such thing as bad people?
"I didn't know S&P set US policy."
That day is coming.
"Can we take a page from the moral relativists that got us to this point and say there's no such thing as bad people?"
But we know that's not true.
He was checking "Rules for Radicals" for what to do when it all blows up.
"...I feeling guilty over the smug feeling I have that this Presidency has unfolded just like I thought it would..."
Don't feel too bad. Obama will be hitting the lecture circuit pulling down big bucks (gotta keep Michelle in the latest fashions that shes accustomed to), probably crank out another autobiography/memoir and celebrate winning the Nobel in Economics.
He'll be fine.
This White House is astonishingly oblivious to the rule that a President should not overexpose himself.
How hard a concept is it to grasp, not to send the President in front of the cameras every damn day, so say something pointless?
The flurry of O's TV addresses to the nation recently reminds me of the desperate, insecure, needy (and usually drunk) compulsion to repeatedly email or leave messages for someone, each message calling for another to supplement, correct, repair, or expunge the effects of the previous one, falling into an embarrassing vortex-- memorably portrayed in this scene from Swingers.
I think Nikki's reaction sums up what many of the American people feel. I know that's what I'll be saying to Obama in the next election.
Dow is 1700 points down since July 21.
Confidence doesn't rely on the Con.
(gotta keep Michelle in the latest fashions that shes accustomed to)
It's not the fashions that are all that expensive, it's just the fact that linebacker uniforms are more expensive to make than quarterback uniforms.
S&P behaved stupidly
Gold is $1713/oz.
That's where the confidence is.
"...It's not the fashions that are all that expensive, it's just the fact that linebacker uniforms are more expensive to make than quarterback uniforms..."
POW!!
Down goes Fraizer!
"The crash is about the three principal factors that underly the downgrade: (1) the deficit, (2) the Congressional dysfunction and bickering and (3) the utter lack of leadership by the President."
Markets are down all over the world. (Israel down about 5%, ect.) This crash is about the Eurozone and fears/realizations that the US economy (largest in the world) is in a slump. Italy is a mess, Spain is going down, and now Belgium! Belgium! (Belgium-- who would have guessed?)
I do think the nonsense we saw for the last few weeks acted as a trigger. The world saw that inmates were running the asylum in the USA. (And yes, I mean BOTH parties. Pundits and politicos talking partisan nonsense -- freaking out the markets and mostly ignoring the structual problems of the economy. It was all about WINNING! The American people deserve better then their political leaders.)
The US consumer-based economy doesn't have any money to spend. Too many people underwater with mortgages & debt & a horrible job market. Who is going to pull up the world economy if the Euro goes down in flames and ashes? Thus a sell-off panic in the markets.
This can be summed up by :
what Nouriel Roubini said.
Or: Winter Is Coming.
We are experiencing a cumulative cascade of bad news beginning with weak job numbers, weak housing metrics, weak leadership on the debt ceiling and a consensus that we have a one in three (and growing) chance of another recession. Through all this the administration has decided to double down on arguments that are not gaining traction from the people who count, the market movers and business owners who are too appalled by what they see to even think about hiring another worker. The stunning lack of understanding of what is going on in Europe and here with respect to the diminishing capacity of the taxpayer to sustain the promises made by the politicians. Only the math challenged can miss the point of all this and the market is not math challenged.
You know, this is what happens when you send a junior senator to do a Governor's job.
The guy subbing for Sean "Dufus" Hannity just scaled the U.S. fiscal situation in terms of a family budget.
$21,700 Annual Income
$38,200 Annual Spending
$142,700 Outstanding Debt (This does not include the 10x higher unfunded liabilities).
$385 "Cuts" inacted by the recent debt ceiling debate.
Gee, I wonder what S&P was thinking?
So their upside scenario would include expiration of Bush tax cuts.
The upside of AA+
In other words, Republicans
In other words:
FY 2008 — $460 billion
FY 2009 — $1,410 billion ($1.4 trillion)
FY 2010 — $1,300 billion ($1.3 trillion)
FY 2011 — $1,600 (estimated) ($1.6 trillion)
Of the $14.5 trillion national debt, nearly $4.8 trillion–one-third of the total–was incurred during that four-year period when the Congress was exclusively controlled by the Democrats
But hey, I think you should go on pretending that raising taxes would have prevented it (even when S&P clerly said it would not have).
Idiot.
(The Uncredentialed, Crypto Jew)
I would just like to (re-)state “Obama is awesome. Pls stop drinking the h8terade, Cr@ckers.”
"The American people deserve better then their political leaders."
I'm not trying to pick fights, here, but that is an interesting statement for a representative republic. I certainly would like better leaders from which to choose at election time, but even if we had better options, I'm not sure we'd choose them. Sometimes the people actually do get what they deserve.
And you think our current AA+ rating is because ...?
Of the party you vote for.
Obama has the world fooled.
If he simply revoked all of the Federal Regs issued by the EPA et al. since 2009, the economy would turn around overnight.
Then the taxes would pay for the military, the debt and the Social Security obligations.
No one wants to see the USA sink into a third world status...except for Obama and Soros and the Chinese Army, that is.
At this rate the winner of the GOP nomination is the winner of it all. We have become a one party country.
First CNN is focusing on the DOW- that went out the window a long time ago.
It's the S&P 500 that most analysts follow.
Secondly the market has been irrational for quite awhile now.
And there is a silver lining-a lot of problem in the market has been caused by hedge funds that have disproportional leverage and a lot of them got burned today-hopefully.
And I'm sorry but the vast majority of hedge fund managers in Manhattan donated to Obama-despite the media myth that Wall Street is Republican.
That's fiction.
Where does Obama go for his biggest fundraisers?
Manhattan.
In fact, Anna Wintour is holding one for him this Thursday.
And he was just in Manhattan fundraising on August 23.
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