While in China the President, at least rhetorically ,had a bit of an economic epiphany .He suddenly became aware that his runaway spending this year has not accomplished what he intended ;to stimulate the economy and create real jobs. He doesn't sound quite so confident in his recipe so perhaps just by accident ;in comments made in an interview with FOX NEWS Major Garrett ;he stumbled upon a solution that most likely would work.
http://www.politico.com/morningmoney/

It must be a bitter pill to swallow admitting his long held beliefs in government spending does nothing to stop job loss ,and indeed contributes to the problem. Has he learned yet that the government interventions in the marketplace, with TARP, stimulus, etc. keeps the economy from stabilizing?
We will find out the answer to that question in early December when he plans to, yet again,assemble captains of industry (perhaps dressing them up in hard hats for the photo-op) for a "Jobs Summit". Hopefully one of them will not be so compromised from taking government cheese to tell the President that the best solution is for the government to get out of the way .

Ps .Congrats to all who followed Excon's advice these years to buy gold. You are in the middle of a commodity bubble that will not end until the government takes steps to strengthen the dollar.

Nope- these folks don't give up that easily. Obama is scripted; he is a student of progressivism and Alinsky. In his interview, Obama is preaching to the choir. And off he jets to the next crisis.

I think perhaps President ObaMao went to China and was inspired by their capitalist economic success. Either that or our bankers in Beijing laid down the law and told him he was spending too much.

Normally, I am an optimist too. But the Chinese, most likely, do not want the US to succeed. If we know what their ambitions are, we can figure out what they told Obama. To the extent that Obama is weakening the US, my guess is the Chinese are actually encouraging this profligate behavior. Obama is totally oblivious to the success of capitalism. Doesn't he say, we aren't going back? You think, maybe, Obama gave the Chinese a lecture on allowing unions into their manufacturing plants? Naaaaaa.

I disagree .George think about it . For the Chinese ;like it or not ,they sink or swim on the success of the American economy. They made a huge mistake years ago tying their currency to the dollar while heavilly buying up our debt. They can't divest without taking unacceptable losses so the next best thing they can do is to try to influence the direction of the economy.

Nope that did not happen ;the Chinese lectured him and he kept his mouth shut for the most part... even abandoning traditional American positions the US has held like human rights.
I think the Chinese told him to stop the prolific spending because they would no longer foot the bill.
http://blogs.reuters.com/james-petho...thcare-reform/

So... in the beginning of the month, the Dems lost some important elections.

The most recent polls have Obama's popularity and approval numbers dropping like a rock.

And all of a sudden, after 10 months of massive, out of control, no limit spending, Obama suddenly becomes a fiscal and economic hawk.

Coincidence?

So, tell me... does Obama's advice on spending and adding to the national debt include his massive spending proposals to grab the health-care industry for government control? Or his massive spending for Crap on Trade?

Probably not... liberal ideology, even during a financial crisis, beats fiscal responsibility every time.

Elliot

Well you know he Dem playbook . The Senate released their 2000+ page plan to take over the Health care economy ,and because it is less than the House version they call it a savings to the deficit.
Senate health care bill would reduce deficit, analysis finds | McClatchy

Lol

Are the Maple Leafs going to get any better this year?

One shouldn't underestimate the Chinese; their game-plan can easily mimic our plan to bring down the Berlin Wall. Call it economic warfare or economic terrorism, whatever you wish; our 'system' is headed down and they are not married to it. Can Obama do to the Chinese what he did to GM bondholders? The US will be in the Chinese bankruptcy court, and the only way out will be war, or acquiesence, provided major change is not forthcoming, soon.

George ;excellent point . You convinced me.
http://www.discoverthenetworks.org/g...asp?grpid=6967

http://www.discoverthenetworks.org/A...0Poverty2.html

Hello George:

I think they are. You know how AIG was too big to fail for us?? Well, we're too big to fail for the Chinese.

Where I disagree with you Righty's, is where the blame for all this crap comes from... You fellows have VERY short memories.. You think the world STARTED when Obama was elected.. Guess what?

We've had 40 years of fiscal mismanagement starting with Richard Nixon who took the dollar off the gold standard... That began its slide. Reagan was a spender. Both Bush's were spenders. Clinton, surprisingly, was fiscally conservative, but he destroyed the middle class with NAFTA.

So, keep on blaming Obama. I'll bring you back to reality.

excon

You are the sultan of cherry-picking. Obama is a puppet, and a very poor one, at that. If you really want to learn about 'mismanagement', I refer you to Goldberg's book, Liberal Fascism.

The only reason I would ever think or write about someome like Obama is because of his role within current events. The man's moral perspective is in the cesspool.