Obama on the economy: Can you feel the glimmers of Hopenchange?
posted at 5:38 pm on April 10, 2009 by Allahpundit
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Banking crisis? Over. Economy? Recovering. Global warming? On it. Iranian nuclear threat? Er, three out of four ain’t bad.
You can’t put a price on peace of mind, my friends. Well … actually, I guess you can.
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Can you feel the glimmers of Hopenchange?
…..
No.
And the data doesn’t support it.
artist on April 10, 2009 at 5:41 PM
Robert Plant – “All that glimmers is not gold”
Firebird on April 10, 2009 at 5:43 PM
I work in the real estate mortgage sector, and things were supposed to pick up massively on April 1.
Hasn’t happened. The bankers are still sitting tight.
Del Dolemonte on April 10, 2009 at 5:44 PM
Yeah, things are going GREAT! Oh, gotta go, the soup kitchen is about to open….
AUINSC on April 10, 2009 at 5:44 PM
What glimmers does he see? I thought he didn’t pay attention the “gyrations of the stock market.” So what does he use an indication?
I just think he’s a liar.
Byzantine on April 10, 2009 at 5:44 PM
First the tax bills are going to hit people, then the inevitable inflation. In a couple of years we’re going to look at right now as the good old days.
trigon on April 10, 2009 at 5:44 PM
Uhhh, no, b/c unemployment will soon be 10%+ and after that interest rates will skyrocket when all of the stimulus $$ and $$ people have been hoarding under the mattress floods the market. Just in time for 2012…
davek70 on April 10, 2009 at 5:46 PM
I’ve been anticipating a minor, temporary upsurge, then a long slow decline,…and then inflation kicks in. Food costs are gonna be sky high.
a capella on April 10, 2009 at 5:47 PM
So true, and let’s not forget about the $4+ gas.
Firebird on April 10, 2009 at 5:47 PM
Is that rain? Ah hell no.
And if the market tanks, what does that mean, hopeychange? Is Bush still at fault?
HornetSting on April 10, 2009 at 5:47 PM
It’s a matter of perspective. This jacka$$ sees the destruction of our free society as a good beginning. His kind of hopenchange.
Spiritk9 on April 10, 2009 at 5:47 PM
Truthfully?
More layoffs mean less disposable income. We are at 8.5% unemployment and he said it would not go greater than 7.5%. Where are the jobs he was creating?
seven on April 10, 2009 at 5:49 PM
I hope Osama Obama enjoys his greekin’ gourmet pizza tonight; I couldn’t buy one at Domino’s right now….
Yeah, it’s all working out great.
MrScribbler on April 10, 2009 at 5:51 PM
We will not reach financial stability until the criminals in government are stopped, investigated and punished.
BetseyRoss on April 10, 2009 at 5:51 PM
You’re looking at this wrong. According to Barry’s logic of ‘create or save, so far, he’s saved 91.5% of the jobs in America.
AUINSC on April 10, 2009 at 5:52 PM
Acid Rain
Kini on April 10, 2009 at 5:52 PM
More taxes also means less disposable income. 10 states (probably more) and quite a few cities, like NYC, are increasing their taxes significantly. God help us when the international community gets involved on taxation.
Tuari on April 10, 2009 at 5:53 PM
I HOPE it gives him a wicked case of heartburn.
HornetSting on April 10, 2009 at 5:53 PM
It’s shining so bright that he doesn’t want the bank stress test results released so as not to upset the stock market..but don’t worry..all the banks passed..
Pam on April 10, 2009 at 5:54 PM
Chris Sommers is doing well during the economic hard times.
Yo, Chris…I’ll have a large veggie pizza. Who should I tip? The ‘flight attendant’ or the “Limo” guy?
JoeySlippers on April 10, 2009 at 5:54 PM
Please. There were temporary surges during the Great Depression, too. Unemployment soon went up again (not that it’s fallen). Meanwhile, the top article on Yahoo Finance:
We’ll soon see rising inflation and a continued unemployment increase.
Don’t get me wrong; I’d love to see the crisis over, regardless of the political ramifications. But even the smallest good news is now being spun into “The Crisis is Over!” by an Obama-adoring media.
amerpundit on April 10, 2009 at 5:55 PM
I hadn’t thought of that! Sadly, he probably did pat himself on the back for that!
Pam on April 10, 2009 at 5:55 PM
Well , you don’t want to bring on too much good news , you know.
the_nile on April 10, 2009 at 5:56 PM
Sell before the next shoe drops…
Realist on April 10, 2009 at 5:56 PM
O hell! what have we here?
A carrion Death, within whose empty eye
There is a written scroll! I’ll read the writing.
All that glitters is not gold;
Often have you heard that told:
Many a man his life hath sold
But my outside to behold:
Gilded tombs do worms enfold.
Had you been as wise as bold,
Young in limbs, in judgment old,
Your answer had not been inscroll’d:
Fare you well; your suit is cold.
Joe Caps on April 10, 2009 at 5:57 PM
amerpundit on April 10, 2009 at 5:55 PM
True! Our country was worse off in 1937, than at the onset of the depression!
Pam on April 10, 2009 at 5:57 PM
If there is hope, why is he reporting it on Friday afternoon? Shouldn’t this good news come out on Monday? Sounds like he is trying to say something positive, but doing it on Friday so when there are no results few people will have heard it.
Mallard T. Drake on April 10, 2009 at 5:57 PM
81 days and this disease has still put us in the poor house and we can’t afford the poor house either
Kini on April 10, 2009 at 5:58 PM
My God, It’s Full Of Debt!
Kini on April 10, 2009 at 6:00 PM
What is with this glimmer of hope. I was told that PeBO would bring HOPE to America. C’mon Obama, don’t bring that weak-ass glimmer game in here. If you are going to bring HOPE, then bring it.
Just words?
Mallard T. Drake on April 10, 2009 at 6:01 PM
Please correct me if I’m wrong, but none of the Democrats’ “bailouts” have gone into effect yet, have they?
JohnJ on April 10, 2009 at 6:01 PM
Mmmm…
I can feel it. Mmm…
It’s…going up my leg…
Mmmm
blatantblue on April 10, 2009 at 6:02 PM
Everybody’s forgotten he said this last month too… then the market tanked again after he fired the head of GM.
Skywise on April 10, 2009 at 6:02 PM
… and the next time bad economic news comes out, as before (not so long ago) he’ll be there saying we shouldn’t rush things, it’ll take more time, could be years, etc.
blah blah blah
Midas on April 10, 2009 at 6:02 PM
So this means we can cancel that insane bill passed earlier, right?
JohnJ on April 10, 2009 at 6:02 PM
The sun’ll come out
Tomorrow
Bet your bottom dollar
That tomorrow
There’ll be sun!
Just thinkin’ about
Tomorrow
Clears away the cobwebs,
And the sorrow
‘Til there’s none!
Limerick on April 10, 2009 at 6:03 PM
Oh hell no…it’s working so well, he’s gonna double down.
AUINSC on April 10, 2009 at 6:05 PM
He has no credibility on being able to diagnose the economy. He speaks only to campaign, manipulate or increase his poll numbers. Notice how the adjective “intelligent” gets used less and less when the media writes or speaks about Obama. They know he’s winging it.
sherry on April 10, 2009 at 6:05 PM
I highly suggest taking the steps to prepare yourself for a very bleak future………..
………….. while you still have the time.
Seven Percent Solution on April 10, 2009 at 6:05 PM
That’s exactly what he’s thinking; He’s destroyed half of America’s wealth, he can tax us for the rest of it.
anniekc on April 10, 2009 at 6:05 PM
By golly, he is the Messiah! If Time says so.
As the massive deficits continue to suck capital out of our economy, we will have stagflation, not recovery.
PattyJ on April 10, 2009 at 6:08 PM
That will be solved as soon as he okays their program.
Naturally he’ll cite Bush as having retroactively put the stamp of approval on India’s efforts.
He’ll expect us to disregard India’s peril with a nuke seeking hostile Islamic neighbor, as well as the fact that a hostile Iran is nuke seeking for the purpose of menacing the entire globe via ICBMs and terrorist smugglers.
No, THE ONE will save us with his masterful weaselly wordcraft. By the way, I hear that happy days are here again for the economy! ‘~’
Maquis on April 10, 2009 at 6:08 PM
Very good! But no one gets 2001 references anymore, let alone 2010. The Liberals can barely read the cereal boxes, let alone classic SicFi, or History, or Economics, or Logic, or Latin, or what a syllogism is or, sigh…
GunRunner on April 10, 2009 at 6:12 PM
Which means now we can expect two million new “news articles” devoted to how amazing Obama is that he fixed everything. lovely
Defector01 on April 10, 2009 at 6:12 PM
One of the best lines from The Outlaw Josey Wales, “Don’t piss down my back and tell me it’s raining!”
FloatingRock on April 10, 2009 at 6:14 PM
Let’s keep this going.
Sovereignty? Surrendered. ACORN? Funded. GM Boss? Fired. Treasury? Looted. Saudi King? Bowed to. Limbaugh? Targeted. Obamacorps? Started. America? Almost pwned.
econavenger on April 10, 2009 at 6:15 PM
Tomorrow unemployment will be minus-10 percent and we’ll just hav’ta pass a massive amnesty bill to save the country!
Limerick on April 10, 2009 at 6:17 PM
The GM Boss was fired? No, no, he was just paving the way for Obama to be the Son of Boss.
Upstater85 on April 10, 2009 at 6:17 PM
Preferable an amnesty bill for the Amigos and hopefully some Kenyans…
Let’s make sure we don’t let any groups into this country that might actually contribute. They might vote GOP *gasp*
Upstater85 on April 10, 2009 at 6:19 PM
Nah, he quit to start one of those green industries we will all be needing, buggy whips and wheelwrights.
Limerick on April 10, 2009 at 6:19 PM
yeah sure Bambi, I love my unemployment pay and wouldn’t want to go back to that tiresome working stuff.
gsherin on April 10, 2009 at 6:21 PM
I wonder who’s going to “quit” so they can take the new cabinet position of Toilet Paper Rationing Czar… This sounds like a job for Olbermann when MSNBC is taken over by the fed…
Upstater85 on April 10, 2009 at 6:21 PM
As I said at 5:44 PM, the mortgage/banking bailouts were to begin April 1. Hasn’t happened.
Del Dolemonte on April 10, 2009 at 6:23 PM
It will happen at the convenience of Teh One. If Obama can’t fix global warming, it’s because it’s really beneficial to us… and thus shouldn’t be fixed.
Upstater85 on April 10, 2009 at 6:28 PM
That glimmer of hope would be a blinding light of real progress if the Dems and government kept their hands out of this whole situation.
coldwarrior on April 10, 2009 at 6:28 PM
Who is John Galt?
TheTrollhammer on April 10, 2009 at 6:51 PM
Protagonist from Ayn Rand’s “Atlas Shrugged”.
AUINSC on April 10, 2009 at 6:58 PM
Protagonist from Ayn Rand’s “Atlas Shrugged”.
Damn, cut buffer still had some text in it.
AUINSC on April 10, 2009 at 6:59 PM
Even what is probably normally a left leaning site is turning on Obama – Obama Administration Careening Towards Disaster (And Taking the Country With It)
What we are witnessing in the policies of the Obama administration is not the creative experimentation of a modern-day Franklin Roosevelt, but rather the greatest heist in the history of mankind, as trillions of dollars in public funds are shifted from taxpayers’ pockets into the hands of the very banks and bankers and bank investors who brought us this financial debacle.
MB4 on April 10, 2009 at 7:16 PM
There have been disbursements, but only a small fraction of the actual total has hit the economy. And for all the vaunted transparency, and the serving-in all the agencies are having to do on recovery.gov via standard weekly reporting, if you want to know the total disbursements across all federal agencies you have to add them up yourself.
DrSteve on April 10, 2009 at 7:24 PM
I’m not sure the status of the mortgage relief programs, but the government ought to be able to provide exact figures. This was the most recent news story I could find in a few moments of rooting around:
“Mortgage Relief Plan Falling Short”
DrSteve on April 10, 2009 at 7:28 PM
Oops. Sorry, that was the lackluster performance of Bush’s mortgage relief program.
DrSteve on April 10, 2009 at 7:32 PM
This one is from the correct year.
DrSteve on April 10, 2009 at 7:41 PM
60 buses and 170 commuter railcars purchased with stimulus by Chicago transit agencies will ALL be built in Canada, thats where it went. $200mil?
We all get to ride nice new shiny busses and trains to the welfare office. Unfucking real!
southsideironworks on April 10, 2009 at 7:41 PM
100% Right on!
The scariest thing he said: ‘over the next several weeks, you’ll see additional action by the administration…’
Frightening.
RedbonePro on April 10, 2009 at 8:05 PM
Why don’t we just print 500 trillion dollars and build a train system between every city in the USA. Imagine all of the jobs.
/
CWforFreedom on April 10, 2009 at 8:06 PM
Are you kidding? Housing is booming!
Barakburg
Thanks to Instapundit for the link and the name.
jdkchem on April 10, 2009 at 8:08 PM
Try again
Barakburg
jdkchem on April 10, 2009 at 8:10 PM
Maybe they could re-name Cal Expo Barrytown.
thomasaur on April 10, 2009 at 8:17 PM
Barry O said we’re in the greatest crisis since the Great Depression.
Then they passed the Porkulus bill.
Now he waves a magic wand and the economy is recovering. Even though nobody fixed a rusty bridge yet.
Wait till all those newly-printed dollars start getting traded against Euros or yen or Chinese yuan, and Starbucks costs Morebucks.
Obama Nation = Obama-flation.
All hail Jimmuh Hussein Carter-bama.
Steve Z on April 10, 2009 at 8:52 PM
Look for George Soros to make a major killing in the currency trades. His backing of the neophyte Obama indicates this is all part of a master plan.
coldwarrior on April 10, 2009 at 8:57 PM
I hate to say it but things are looking better. Of course Obummer has nothing to do with it. But there is no denying the recession is just about over.
angryed on April 10, 2009 at 9:43 PM
As if Obama would come out and say everything were just craptabulous…
catmman on April 10, 2009 at 10:23 PM
WTF? You smokin’ somethin’?
Wyznowski on April 10, 2009 at 10:39 PM
California foreclosures about to soar
MB4 on April 10, 2009 at 10:39 PM
This is probably buildup for Stimulus II and/or TARP II. “Things are getting better, we just have to throw a few more trillions on the fire. Trust me.”
ddrintn on April 11, 2009 at 12:35 AM
Pirates taking Americans hostage as Obama
monitorsdoes nothing, long range missiles launched in North Korea as Obamathreatens with strong consequencesdoes nothing, China debt, Russia attacks Georgia, Iranian nukes threaten Israel’s existence, trillions spent for no reason, banks taken over by the government, debt, debt and more debt….Media: look at Michelle’s arms.
dthorny on April 11, 2009 at 2:52 AM
Well just as brother George in Kenya has been helped by brother Barack so shall these people be helped, You know, as Barack claims, words have meaning….What, he hasn’t? George is living off a dollar a month you say? Barack has given him squat?
Never mind.
dthorny on April 11, 2009 at 2:58 AM
Who turned the “crisis” into a crisis?
Politicians and the media.
It would have recovered one way or the other. But with the Suicide Bill (also known as “stimulus bill”), the big bang has yet to come.
BTW… if the “crisis” is “over”, why is Japan’s PM Aso trying push through ANOTHER suicide package and, effectively, burying his chances to be PM ever again? The “stimulus” plans are extremely unpopular in Japan. Aso’s party, the LDP, might as well lose the upcoming elections because of that.
Penguin on April 11, 2009 at 6:14 AM
Now he’s using index cards.
What a vacuous fool.
csdeven on April 11, 2009 at 7:57 AM
The press doesn’t seem to mention the relaxation of the “mark to market rule”
darwin-t on April 11, 2009 at 8:10 AM
Only morons and fools declare victory before the battle is over Obama, which are you?
I work in the insurance sector, dealing with trade to be specific. From what I have been seeing/reading we are looking at 2009 to be a loss and 2010 to be a wash. People need to stop watching the DJIA… That is not a solid way to gauge the economy. Much the same way people only look at the horsepower on a car, torque is what moves the engine, horsepower is just a measure. I fear we have the same problem with the DJIA. God bless our education system eh?
Europe is on the verge of implosion. Germany, France, England, Ireland, Greece, all had their credit ratings downgraded yesterday. They are still A rated, but a slide is not good sign. Russia is back at C (which means do not give them money.)
We still have a lot to deal with here. For him to say there are glimmers of hope, well, sorry, I’m not seeing it or buying it.
Gatsu on April 11, 2009 at 8:17 AM
No. I am looking at the revenue my business has been generating recently. Oct-Jan was dead. Feb was a little better. March was good. And so far April is shaping up to be excellent. Things have definitely turned around.
Like I said, Obama had nothing to do with it so don’t start calling me a lib troll. Unfortunately Obama will get the credit for being at the right time and right place. Just like Clinton did in 1993. If nothing else Dem presidents are great at timing electoral wins.
angryed on April 11, 2009 at 8:17 AM
I think we created a Hopenstein!
Seriously, the economy may well recover sooner than we think, which means later this year. Obama will get credit for that, unfairly. Just proves that the stimulus was unnecessary. On the other hand, what will Obama do when he can´t exploit panic and he can´t blame Bush anymore?
el gordo on April 11, 2009 at 8:47 AM
Did somebody already sing Happy Days Are Hear Again?
OK, so when hyperinflation kicks in, we’re back to blaming greedy rich CEOs/Wall Street and President Bush, right?
Dr. ZhivBlago on April 11, 2009 at 11:12 AM
The positive economic signs we are seeing now are the signs economists have predicted we would see mid to late 2009 since before Obama was elected. Furthermore, Obamanomics has yet to hit the economy and the bulk of the stimulus has yet to be spent. So I don’t give Obama much credit for this recovery. In fact, I’d say he was “inheriting” this recovery.
I’d have much more faith in the stamina of this recovery if Obama had done more for job creation: increased domestic energy production, lower business taxes, harsher line of the hiring of illegals, and so on. Since Obama is doing very little to confront unemployment other than hiring people to fix bridges or to work on his electric grids, I see unemployment continue to soar and be a cancer on all aspects of this economy.
DarkKnight3565 on April 11, 2009 at 11:37 AM
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