Obama would regulate new 'bubbles'

Obama would regulate new 'bubbles'

www.politico.com

As he battles the economic downturn, President Barack Obama is bracing Americans for a recovery different than any in recent memory – not a go-go return to prosperity like the 1990s but a slow, steady climb to stability.

(visit the link for the full news article)



[edit on 18-4-2009 by TheAssociate]

edit to fix title

[edit on 18-4-2009 by TheAssociate]

Did a search and didn't see this anywhere.
It seems that obama wants to end the cycle of bubbles and busts. It sounds like more regulation of the free market is headed our way. Regulation of the free market is what got us into this situation in the first place and now the line we're being fed is that more regulation is the solution.


TheAssociate

www.politico.com
(visit the link for the full news article)

That's so double speak... he wants to end bubbles and at the same time he's creating another by giving trillions to the banks, trying to restart credit when credit brought us this mess.... Credit default Swaps are still there and it's a huge bubble, and let's not forget the BIGGEST bubble Obama pushed for years in Illinois and now is pushing, the CARBON CREDIT.

Yeah he's totally against bubbles... Biggest lie so far.

reply to post by Vitchilo


Good point. His whole 'green agenda' is designed to create another 'bubble.' The only 'bubbles' he is going to regulate are the ones, the regulation of which, will increase his popularity.


TheAssociate

Well, with his current track record, I'll believe he's doing good for the country when he actually does start doing good for the country.

So far it's been nothing but broken promises and outright lies. I was just in the proces of "waking" when this whole election process was going on. I was actually thinking about voting for this guy. Glad I can say that I didn't.

Nothing has changed and I doubt anything will. Only time will tell.

reply to post by cnichols

Nothing has changed and I doubt anything will.

You are 100% correct. Obama is a puppet of the NWO, and worse, he's a very craftily distracting one. He says "look over here, i'm bringing change," but continues to further the one-world agenda while everyone is looking in the other direction. This 'regulate the bubbles' is just another distraction tactic.


TheAssociate

reply to post by TheAssociate


Let us all direct Obama to The Venus Project (TVP), a money-free resource-based community. TVP is THE CHANGE WE WANT!

reply to post by ctjctjctj


Money is not the enemy. We should never have been taken off the gold standard, but that and the venus project are neither here nor there.


TheAssociate

The truth of the matter is economic bubbles have been with us a very long time. More or less since the late 1800’s, and we have become a nation of massive debtors.

It’s only through complex borrowing and pricing schemes that enough ‘play’ money can be pushed into circulation into the general economy.

The real problem since the late 1800’s is something called machines. When Henry Ford pioneered the concept of the production line he revolutionized industry making it possible for highly specialized teams of workers set up in a line to do the job of making something much more efficient than it ever had been.

Today if you were to visit the line where Henry Ford once had hundreds of workers hustling and bustling about each doing their little job, you would see far more robots than people…machines programmed to do the job humans once did, even faster still and even more efficient.

Machines making machines for us to buy…the question is what are we people making to buy these things with? Pretty much just about anything we can find to get by!

Cheer up it hasn’t quite gotten to where they are selling us for spare parts yet…

reply to post by ProtoplasmicTraveler


I don't view technological advances as a bad thing. There will always be jobs making the various parts for the robots you mentioned. The more productive a company is, the more money it makes. The more money it makes, the more people it can hire, even if it's just a robot maintenance position. Technology isn't our enemy.

What is the enemy, is regulation of the free market. Obama is attempting to steer the economy in a politically correct direction with this 'bubble regulation' he is proposing. What he should be doing is allowing the economy to take the direction of least resistance: the most profitable direction.
Capitalism is a self-regulating system: Companies with the ability to provide goods and/or services at an affordable price survive and thrive, those which can't, collapse. Regulation of the free market is invariably a bad thing.


TheAssociate

Yes I agree markets will correct themselves if left to their own devices and they should be.

Having said that though there is still a problem...too many people.

It's not that technology is our enemy, we are our enemy in that we over breed constantly and beyond which the planet, the ego system and the markets can sustain.

If you really look deeply to the core of what has happened a few hundred people basically monopolize about 85% of all businesses and economic opportunities.

In essence the markets have not been free as a result of this since the late 1800's. Competition is something that truly can't be waged on any kind of an even scale and the world's population becomes enslaved to those few Masters who can truly provide economic opportunties.

Obama is as much a puppet as his predecessors and in my humble oppinion the economic conditions will only worsen over time, not because of Obama carrying out his Masters' orders but because of the way so much of the economy is monopolized by people of such wealth and means they have risen above the law itself and control the political process which perpetuates their reign.

Going after people with Anti-Trust laws with a real zeal and vengence is what would make a difference. People still need to breed less though.

reply to post by ProtoplasmicTraveler

those few Masters who can truly provide economic opportunties.

If they are the only ones with the ability to provide economic opportunities, why should they be stopped?

People still need to breed less though.

That, i agree with.

Obama is as much a puppet as his predecessors

That too.

Competition is something that truly can't be waged on any kind of an even scale

Who said capitalism is supposed to be even or equal? It is about survival of the fittest, not who has the best connections in washington to get anti-trust suits brought against their competition.

Going after people with Anti-Trust laws with a real zeal and vengence is what would make a difference.

Yes. The cost of everything produced would go up exponentially because, every "little guy" who "never had a chance" would be suing the most productive elements of the market to try and swipe a chunk of their money.

Yes I agree markets will correct themselves if left to their own devices and they should be.

Yes. Period. No addendum.

Incidentally, ProtoplasmisTraveler, i'm not picking on you, i'm enjoying the exchange of ideas. If i'm being a jerk, tell me, i have a tendency to do that.


TheAssociate

It is not regulation of the markets that brought us here.

Before the Great Depression, it was about a 10 year cycle of boom-bust with bubbles and crashes.

After the GD, the Glass-Steagall Act went into law and for FIFTY years we did NOT have any crashes, we did have mild recessionary periods, which are completely normal, but no real boom-bust.

In 1980, Glass Steagall regulations, like Regulation Q, were repealed and almost immediately afterwards we had the S&L crisis

In 1999, the Gramm-Leach-Bliley Act, completely repealed the Glass-Steagall Act. Since then, we have had one bubble after another, the Dot-com bubble which lasted from 1995-2001 and the Housing bubble, and now the Commodities Bubble.

Do go and read up on the Gramm-Leach-Bliley Act and you will see that this one piece of legislation is responsible for the mess that has us bailing out banks, bank holding companies and insurance giant like AIG.

FIFTY (50) years of stability was ruined by one piece of legislation that RELAXED the regulations imposed on both business, banks and Wall Street.

So anyone thinking deregulation is the problem needs to go back and learn about what really happened to create this mess.

If Obama wants to stop the bubbles, then all he has to do is repeal the Gramm-Leach-Bliley Act and re-enact the Glass-Steagall Act and we will see a change we can believe in.

*wakes up.

Well, your opinions are obvious, its not like every other obama hater hasnt said the same #.

HOw about we give it some time?

Have no fear, that which is covered will be uncovered with time.

[edit on 19-4-2009 by Vyrtigo]

reply to post by redhatty


Thank you, redhatty....ya beat me to it.

It is truly troubling to me how many anti-President Obama threads have been started here at ATs in a mere three months.

Why is it? maybe people need to get their information from other places besides Fox 'news'. Goebbels, the mastermind of Nazi propaganda, could have learned a thing or two from Murdoch and Ayers.

Here link is an alternative perspective on the Glass-Steagall Act. For the record, i don't watch fox news. for news from the internet, i use google news. if the link happens to be from fox, i read it but i also read any other available link to the same topic. There are storms in the area, so i have to log off. I'll be back tomorrow, internet connection permitting. Thank you all for the replies, have fun and please keep it civil.


TheAssociate

[edit on 19-4-2009 by TheAssociate]

First off... The Federal Reserve was created in the first place to bring a 'steadyness' to the markets & economy, that was the sales-pitch in the 1913 covert vote to institute the Federal-Reserve-Banks. The USA & congress did not want volitile cycles of booms-&-busts any longer !

As far as the Obama administration finger-on-the-pulse of the American economy...;

But what Obama rarely says about ending the “cycle of bubble and bust” is this: He’s prepared to intervene to make sure that kind of red-hot growth doesn’t occur.

And he’s willing to do it with added government regulation if needed to prevent any one sector of the economy from getting out of balance – the way the dot-com boom did in the 1990s and the real-estate market did earlier this decade.

According to Austan Goolsbee, a key Obama economic adviser, the president plans to focus on stopping bubbles along with preventing busts. And in an interview with POLITICO, Goolsbee said the administration will be on the lookout for new bubbles, like the tech stocks or housing prices.

If new threats are spotted, he said Obama would use “regulatory oversight to prevent guys who want to make a quick buck from doing real harm to the economy. ... That is what it means to get out of the bubble-and-bust cycle.” ...

All this tripe says to me is that Obama is Ready-Willing to use
Executive-Privledge and issue Executive Orders
to 'regulate' the ups & downs and volitility in the economic/financial spheres
-----Totally Socialist & Marxist !
seeing how the Federal Reserve is not doing its main purpose for its existance... 'el dictitorial powers is telling the people He is better equipped than the SEC/Treas/FDIC/Federal Reserve to regulate banks & markets & home ownership processes.


re-implement Glass-Steagall for starters, prosecute the likes of Paulson, Geithers, Greenspan, Bernanke, mega-bank CEOs of the past 20 years,
& that's just for starters

Originally posted by Vyrtigo
*wakes up.

Well, your opinions are obvious, its not like every other obama hater hasnt said the same #.

HOw about we give it some time?

Have no fear, that which is covered will be uncovered with time.

Why don't put a stimulus budget in, To stop the companies from Laying off Directly?

Why don't we put a plan in with Relief to companies that Higher More workers for support in that business.

Why don't we put a plan in for added relief on our current large/small farm industries as well as support for new upcomeing ones ?

Why don't we reevalutate our Low Income sectors of the economy with realistic figures and building up a base line average income and what companies are blatently takeing advantage of the cheaper hireing sector.

Why don't we actually do a dam thing to "Fix" the economy rather then watch Layoff after layoff for it to somehow get "Better"

No wait, its much better to attack the small business's that are starting to show up (Ironically the only good thing that has been happening, but then again what the **** did we give the banks money for again?) Strangle them to prevent Failures... Well he got one thing right they are bursting... But this was expected in the first dam place ...

/cheers for obama.