The best thing that could happen to the Chairman’s prospects for 2012 would be for voters to sweep his socialist allies out of power in 2010. Tax cuts and spending cuts would ensue, and the economy would revive, and he, Barry, takes credit. Jes’ like 1994 and 1996.

james23 on November 25, 2009 at 4:29 PM

Before too long he will be hoping for exactly that to happen. What’s hard to understand is why the Democrats haven’t figured out that the crap they are doing is at the root of the problem. They are creating chaos with the economy, a child could see it so I guess it is intentional.

The Fed can’t predict what the unemployment rate will be next week. How can they predict 3 years from now. I know they same way Michael Mann predicts the global temperature 50 years from now.

Dasher on November 28, 2009 at 1:04 AM

They can’t even accurately report the count of people who lost their jobs last week! Which is incredible and hard to believe. This IS 2009? Every time they publish a count, a week later the count gets revised upward by 50,000 or more.

http://www.rollcall.com/news/40966-1.html

“President Barack Obama used his weekly address on Thursday to urge patience with the pace of the economic recovery and to stress that his administration was working hard to ensure that better times are on the horizon. “

Yeah, all those parties, trips and golf are hard work, during those “waking moment”(s) with your “economic team”.

Americannodash on November 25, 2009 at 3:28 PM

Shoot it in the head..

It’s almost as if redistribution was a higher priority than actual job creation.

BadgerHawk on November 25, 2009 at 2:59 PM

.
Almost? Redistribution was is only purpose. That and oiling union pockets for future redistribution back to Democrat coffers.

Democrats are firmly committed to the notion that trading in stocks does nothing to create wealth, so eliminating it will actually help the economy.

MarkTheGreat on November 25, 2009 at 4:09 PM

Stock trading is a combination of legalized gambling, a slick carnie’s hide-the-pea game, and a soap opera. Like gambling, attempting to make money on stock trading has ruined far more people than it has made wealthy, and that’s not even including the debacle we had in 1930. The times that people have been snookered into buying worthless stocks – or whose supposedly-reliable investments evaporated – are beyond count.

Atbest, the stock market gives people like you and me a semi-reliable method of long-term investing. At worst it drains retirement funds, destroys dreams, and can even pull down the nation’s economy.

in the 70s consumers had CREDIT available
in the 70s Volcker? raised rates to slay inflation

the Fed has done everything but sign in blood that they are not tightening for at least a year

so the Misery Index which accounts for inflationa dn itnerest rates would really not give us an accurate picture of how bad things are right now

we need a revamped index

Tens of millions of uncounted now in relocation/re-education camps, millions gainfully employed in either local, state and federal jobs, including the Civilian National Defense Corp, but the private sector (mostly resturant and janitorial jobs) employment rate rises to 7.2 percent, for a total of 5 million private sector jobs.

Upcoming jobs now include the Bill Ayers Brigade – which needs heavy equipment operators (Spanish language only) for the huge task of covering over the no longer working human debris from pre-Obama times.
http://www.thenewamerican.com/usnews/election/480

equality through poverty

Daveyardbird on November 25, 2009 at 3:49 PM

That be the plan. The Trolls like simple want us to be like them

This is naive.

lorien1973 on November 25, 2009 at 3:21 PM

Lower taxes for economic growth is a myth used by the GOP to gain support. It is impossible as we will soon see in Virginia. In Virginia the GOP regained power too soon. The Republican Governor will not be able to lower taxes and the GOP will be seen for the fraud that it is.

It will be “Read my lips” all over again. A GOP victory in 2012 will set them back for a generation. Wait until 2016 and they will be sitting pretty.

Decider on November 25, 2009 at 3:26 PM

Economically illiterate and historically inaccurate. Every time taxes are cut, revenue increases. It worked for Reagan, and it worked for Bush 43. Bush 41 raised taxes, though reluctantly, and we saw a recession that Clinton capitalized on as “the worst recession in 50 years.” (A breathtaking lie, of course. But then, you could always count on Clinton to go big with his lies.)

Pretty much everyone knows by now that you don’t raise taxes in a recession. Oops! Apparently not Obama or Pelosi.

You can see the advantage India has competing due to its lower labor costs, but can’t see the advantage states with lower taxes will have in drawing business to themselves? The smartest thing any state can do in the current economy is to lower its tax burden and attract business. Which is why Texas is probably going to do well in the current economy.

BTW listening to the fed is a fool’s game. just remember it was Greenspan who in 2006 swore there was no housing bubble. And bernanke who in 2007 said sub-prime mortgages were nothing to worry about. They have about as much credibility on the economy as Obama does on stimulus jobs saved.

7.5% will be more than good enough for re-election. Especially with the lot of losers that the GOP has to oppose BHO. Sounds like a winner!

simplesimon on November 25, 2009 at 3:09 PM

The most unintentionally funny of all the trolls….

Glad I went with the Roth, unless of course they decide to start taxing that too.

Nancy Pelosi has suggested a voluntary program where you can turn over the balance to the Feds. They guarantee you a payout.

You know where that’s going.

The voluntary program will be undersubscribed, and followed by the federal takeover as the default that everybody can opt out of, for a private IRA. By filing the option for free.

Followed by opting out, annually, for a fee.

Then only a minority will remain outside the system, and will gobbled up as a “comprehensive reform”.

I have a business degree and understand macro-economics. This fiscal plan by the democrats will have dire consequences for the economy.

How do you stop stupid?

Americannodash on November 25, 2009 at 3:28 PM

A majority of low tax and spend conservatives in the House would stop any further stupid liberal legislation.

Top Fed officials expect the unemployment rate to remain in the 6.8 to 7.5 percent range at the end of 2012 and said it could take “about five or six years” from now for economic activity to return to normal.

If this is true, an Obama re-election may well be ours to lose. Let’s not lose it.