Obama Team Very Worried About Economy

[dkf]

Marc Ambinder: "It's quite unsettling to talk to members of Barack Obama's transition teams these days, especially those who are helping with the economics portfolio. Without going into details, the sense I get from them is that they are very worried that the economy will get a lot worse before it gets better. Not just worse... a lot worse."

http://politicalwire.com/archives/2008/12/11/obama_team_very_worried_about_economy.html

[leftofthedial]

1. and they should know

considering they are part of the establishment that created the problems

[mdmc]

2. Everyone knows it will get worse before it gets better

These chuckleheads helped cause the disaster. Now they are "very worried".

Unionize all the financial institutions. Then you can bail out the autos without looking like anti-working class hacks. Which is what you are, anti-working class.

[Johonny]

3. If they're worried

than you should be double worried. I mean they at least got jobs locked up for the next four years.

[dysfunctional press]

4. they're going to have to do an INSANELY large stimulus/jobs program...

how about $3Trillion dollars or so in infrastructure...?

nationalize the banks and some major industries- starting with autos.

a wealth tax of 10% of all wealth over $10million.

single-payer universal healthcare- NOW!

and utilities need to be publicly owned.





if it's time for capitalism to crater, why not incrementally lay a little more socialism on the people?

[Turbineguy]

6. No they don't.

They have to change the stock market trading rules so that the 6 or so trillion dollars sitting on the sidelines or under mattresses can come back into the market and restart the economy.

[dysfunctional press]

11. fuck that. this time around we need a bottom-up recovery...

trickle-down doesn't work, and people are tired of getting pissed on.
people need JOBS, not "buying opportunities".

[Fleshdancer]

5. I'm glad someone is....

the current admin doesn't seem to care all that much.

[Pirate Smile]

7. I think this DU thread helps give some more details re what is going on.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4628566

This one too:

U.S. recession to worsen, deflation a risk-report

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3640580


I read that Ambinder piece last night.:scared:

[Golden Raisin]

8. As well they should be.

It's a huge, multi-faceted, complex economic nightmare they face. A good step in the right direction would be reinstatement of Glass-Steagall, or something like it, although personally I suspect it's just too late.

[slipslidingaway]

9. Joseph Stiglitz: 5 Disastrous Decisions That Got Us into This Economic Mess

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=103&topic_id=408356&mesg_id=408356

"We are at a dangerous moment. Behind the debates over future economic policy is a debate over history -- here are the major mistakes that got us here.

There will come a moment when the most urgent threats posed by the credit crisis have eased and the larger task before us will be to chart a direction for the economic steps ahead. This will be a dangerous moment. Behind the debates over future policy is a debate over history -- a debate over the causes of our current situation. The battle for the past will determine the battle for the present. So it's crucial to get the history straight.

What were the critical decisions that led to the crisis? Mistakes were made at every fork in the road -- we had what engineers call a "system failure," when not a single decision but a cascade of decisions produce a tragic result. Let's look at five key moments..."

[butterfly77]

10. I want to know if Obama and his team have..

really gotten a chance to look at the books and I mean the real books.

[Willo]

12. I think they got a peek at a page or two

if he sees the real books the next press conference will be: "America we are soooo f**cked!"

[Ozma]

13. My guess would be no, there are no real books after 8 years of Bush

The mess being left by Bush is worse than any that has faced any President in the history of the USA.

[WI_DEM]

14. And that's why 2010 isn't likely to be a great year for dems. Right now people know

that the economy is Bush's fault but by 2010 if it's much worse they will take it out on the in-party, the democrats, like they usually do. But if things are beginning to get a lot better by 2012 then Obama and the Dems could make a comeback. This scenerio is like 1982 when Reagan republicans lost seats in house and senate during a bad recession and then in 84 REagan won a landslide re-election with the economy on the mend.

[Drunken Irishman]

15. Exactly. Buckle up, it's going to be 1993-1995 all over again.

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