Skip to main content

View Diary: A Message from History: Democrats, Attack! (258 comments)

Comment Preferences

  •  The stakes on the economy produce caution, so to (1+ / 0-)
    Recommended by:
    papicek

    that extent you may correct.  IOW, as BO recognizes, if he fails on the economy he will fail on everything.  IMO, that - plus recognition of the reactionary forces of the Bushie-fundamentalist-corporatist-neocon axis currently controlling the Republican party and their media supporters remain strong, albeit vulnerable and reeling - have lead him to pursue a path of 'fixing' the economy rather than 'reforming' it.  I believe the hope is that if he can do so now, he will be able to push a more progressive agenda on things like EFCA, health care, redressing tax-inequity, which may well have a bigger effect long-term than anything in the immediate battle over the stimulus.

    We shall see.

    •  agreed... (0+ / 0-)

      though with one caveat: I'm wondering if he'll ever be able to fix or reform the economy. If the last 7 years of economic "growth" turns out to have been a bubble, as I've thought for years, then the current crisis is in fact a massive correction. All things being equal, the Dow Industrials should be around the high 8000's. With the current bearish twist on things, the market is just about where it should be then. With a fairly sound economy to back it up at that level.

      I'm not an economist, my take on this is that with normal, traditional growth in securities, the DJIA would be somewhere around 8800, 8900 right about now. This goes into areas others can argue better than I, but my question on this is, can you fix a bubble? Do you really want to try maintaining bubble levels? Economic expectations may be way too high here.

      So I think that it's all about jobs at this point. The stimulus package, a package that's done right, needs to be passed.

      "The cure for bullshit is fieldwork."
      --Robert Bates, Department of Government; Harvard University

      by papicek on Mon Feb 09, 2009 at 04:27:41 AM PST

      [ Parent ]

      •  60% of income went to middle-class and lower (0+ / 0-)

        under Clinton.  ^0% went to upper class under Bush.

        So, yeah, you can reform the economy.

        The question is how much reform?  Just to redress the income inequality (and stupidity since who do you think has to have the $ to keep the economy moving? hint: its ain't the rich)?  Or to make real progress towards a more green, less oil intensive (i.e., more green generation, more efficient transmission systems, transition to plug-in hybrids, etc.)  

        If Obama can do both, and if it lasts after him, he will go down in history as a 'great' President.  

        •  indeed... (0+ / 0-)

          pity I read this after my ability to rec this comment passed.

          Consider yourself tipped.

          "The cure for bullshit is fieldwork."
          --Robert Bates, Department of Government; Harvard University

          by papicek on Wed Feb 11, 2009 at 07:41:26 AM PST

          [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site