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Chairman of Obama's Council of Economic Advisers gives up in dispair; "no idea how to fix things"

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posted on Sep, 4 2010 @ 01:58 PM
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It wasn't the food; it was the entertainment. Christina Romer, chairman of President Obama's Council of Economic Advisers, was giving what was billed as her "valedictory" before she returns to teach at Berkeley, and she used the swan song to establish four points, each more unnerving than the last:

She had no idea how bad the economic collapse would be. She still doesn't understand exactly why it was so bad. The response to the collapse was inadequate. And she doesn't have much of an idea about how to fix things.

What she did have was a binder full of scary descriptions and warnings, offered with a perma-smile and singsong delivery: "Terrible recession. . . . Incredibly searing. . . . Dramatically below trend. . . . Suffering terribly. . . . Risk of making high unemployment permanent. . . . Economic nightmare."

Anybody want dessert?



More at source:

www.washingtonpost.com...

There are no easy answers without sacrifice, so she gives up and scurries back to academia where there are no consequences for one's actions. Great leadership there.


Here's one idea: Tarriffs and strict punishment for offshoring/hiring non-Americans. That would give a shot in the arm to the dismal unemployment situation. But noooo that might offend the big donators so of course it will never happen, democrat or republican.

[edit on 9/4/10 by silent thunder]




posted on Sep, 4 2010 @ 02:03 PM
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And yet obama give himself a pad on the back on the job report which is nothing more then just mirrors.



posted on Sep, 4 2010 @ 02:07 PM
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Here's a tip:
In times of crisis, reflect upon oneself; travel deep within.



posted on Sep, 4 2010 @ 02:35 PM
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well an Obama Cabinet Member admitting
they have no clue how to fix something
was NOT part of the "change" I was
expecting. But I applaud the honesty.
That's def a change hearing it in DC.



posted on Sep, 4 2010 @ 02:46 PM
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It took her until now to realize this? I know many of us here at ATS have been saying it for at least as long as I have been a member and I have been saying for it years. Our system can't sustain itself and this has been the problem since before I was born. The generation before mine mortgaged the future of generations after them and so my generation has done the same. The only difference between my generation and theirs, is that the music has stopped and we are now scurrying for chairs. The piper is around the corner and I can already here is tune.

--airspoon



posted on Sep, 5 2010 @ 08:43 AM
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Could you imagine if the money from all the gov't 'stimulus' from Bush and Obama were funneled into building/rebuilding manufacturing facilities across the U.S., thereby putting American citizens back to work AND buying those products (in other words, returning to an economy where money circulates around and around creating prosperity and stability instead of it leaving the country and creating unemployment and depression), we could have been near full-employment again by now.

Maybe all these ivy league academics and politicians should take economics 101 and apply a small dose of common sense and initiate that.

One other thing, Mr. Bernanke is supposedly an expert on the Great Depression. He should know that a primary factor in returning to economic stability back then was kick-starting our manufacturing base (hopefully without large-scale war this time), which we had then, but is mostly gone now. And without that base, all the printed money in the universe won't get us back to prosperity.



posted on Sep, 5 2010 @ 09:01 AM
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Obama is a wimp who should of came out gangbusters to fix the economy [at least try] with a national jobs program to fix the infrastructure; a larger stimulus package; laws against off shoring; tariffs; and a much stronger reform of wall street.

But, no, his wimpy half measures are failing and he will likely be a one term president and loose the democrats control of congress which will allow the true maniacs [the republicans] to really destroy the country.

Obama is a miserable failure!



posted on Sep, 5 2010 @ 09:36 AM
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Originally posted by inforeal
Obama is a wimp who should of came out gangbusters to fix the economy [at least try] with a national jobs program to fix the infrastructure; a larger stimulus package; laws against off shoring; tariffs; and a much stronger reform of wall street.

But, no, his wimpy half measures are failing and he will likely be a one term president and loose the democrats control of congress which will allow the true maniacs [the republicans] to really destroy the country.

Obama is a miserable failure!


You are quite wrong.
Obama is a pawn, and is doing his job as such. The commander in chief is no longer in charge as you would suggest. Perhaps you should vent your anger at the many beside him that really call the shots. Senate? Congress? Military Brass?....Naw just blame the black guy!
Fool!



posted on Sep, 5 2010 @ 09:47 AM
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Originally posted by SLaPPiE
You are quite wrong.
Obama is a pawn, and is doing his job as such. The commander in chief is no longer in charge as you would suggest. Perhaps you should vent your anger at the many beside him that really call the shots. Senate? Congress? Military Brass?....Naw just blame the black guy!
Fool!


You have some valid points but playing the race card turned your post into nothing worth reading. The previous poster simply states that obama has fallen flat in many areas and that is true. This is further reflected by the fact that one of his economic advisors has resigned, a clear indication that his personal choices are flawed and his alleged leadership is in crisis.

brill

[edit on 5-9-2010 by brill]



posted on Sep, 5 2010 @ 09:52 AM
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OP subject matter could be part of the play.

Once we (USA sheep) hit rock bottom, We might welcome the NWO and the socialism that goes with it. We would see the national debt erased, and would probably continue to be the global police.

A less grand point of scenario might be:
Headline News: "Capitalism Fails", Corporations are screwing the American public to maximize profit. Source of problem determined to be "Human Greed".

Look at it this way, we will have first row seating when she really starts to crumble.
I for one think it would be hard not to improve when we pick up the pieces, and it might be the only way to change those with their heels dug in to the current system.



posted on Sep, 5 2010 @ 09:59 AM
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Originally posted by brill

Originally posted by SLaPPiE
You are quite wrong.
Obama is a pawn, and is doing his job as such. The commander in chief is no longer in charge as you would suggest. Perhaps you should vent your anger at the many beside him that really call the shots. Senate? Congress? Military Brass?....Naw just blame the black guy!
Fool!


You have some valid points but playing the race card turned your post into nothing worth reading. The previous poster simply states that obama has fallen flat in many areas and that is true. This is further reflected by the fact that one of his economic advisors has resigned, a clear indication that his personal choices are flawed and his alleged leadership is in crisis.

brill

[edit on 5-9-2010 by brill]


Well you can kiss my Cracka butt. People should not be hating the president as they do. Not this one. Perhaps his advisor was a bad choice, but you and I know this president came into office with a pile of poo for an economy. We also know Bush and his band of thieves caused the problem we are dealing with today. So go on act like I am playing some race card, and that race has nothing to do with public opinion of this guy.

Rip the bring



posted on Sep, 5 2010 @ 10:33 AM
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Originally posted by SLaPPiE
Well you can kiss my Cracka butt. People should not be hating the president as they do. Not this one. Perhaps his advisor was a bad choice, but you and I know this president came into office with a pile of poo for an economy. We also know Bush and his band of thieves caused the problem we are dealing with today. So go on act like I am playing some race card, and that race has nothing to do with public opinion of this guy.

Rip the bring


Not sure what half your post is referring to, but then it doesn't matter. Don't people get tired of playing the bush excuses over and over. Newsflash genius, we all know he had problems and left problems, what administration hasn't. obama was supposed to be about change, hope and all that pie in the sky garbage that so many suckers fell for. The fact is he IS in charge and CAN make changes, very substantial ones, yet we have nothing really to show. So yes in that manner keep clinging to this clown and his so called ideals and maybe in your world even the tooth fairy will swoop down and rescue us.

And for the record you clearly stated "just blame the black guy", those are your words and are a clear attempt to start a race issue in this thread when no one else did. Do us all a favor and up the voltage.

brill



posted on Sep, 5 2010 @ 11:30 AM
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of course there is no remedy or solution...

when Bernanke & the FED, along with Geithner & USTreasury
are totally against allowing the TBTF banks
((along with their $2.05 trillion in constantly replenishing
derivatives)) to be propped up by the taxpayers & an evergrowing QE
that will lead to the total collapse of the Treasuries & bonds
& the USD.

Let the dead banks & their debts get erased, let the losses
to private risk takers unfold without the $$ backing of the taxpayer


by issuing tarriffs and such to protect the skeletal remains of
American Industry is in actuality the beginning of Trade Wars


Corporations & CEOs that outsource, oversea the production and
oversea the support services should be tried on the grounds of
economic terrorism against the strategic needs of the Soverign America.
they are not just predatory capitalists they are a scourge on
freedom, they sabotaged the american economic engine



one might get some insightful info from this related essay/aqrticle
from one of my favorite economist trend analysts Jim Willie
news.goldseek.com...



posted on Sep, 6 2010 @ 08:42 AM
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reply to post by SLaPPiE
 


I hope you didnt call me a fool, for if you did then you are a bigger fool.

I hope I am wrong.

ANyway, I AM BLACK!
And I critique Obama for his conservative type leanings in the face of a progressive mandate.

I also am aware of the fact that he is a puppet, in the NWO sense, so your rant is uncalled for, all you have to do is see my post
Obama the confidence man and you might learn somthing.



posted on Sep, 6 2010 @ 09:52 AM
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This is what happens when a president leads by ideology, rather than intellect. Obamas' appointees were picked for their ideology similar to or sympathetic to his Weatherman associates and pro-entitlement/handout communities. It's appalling to choose an economist who doesn't understand how business operates and thinks. And to choose a Treasury Secretary who was actually asleep at the wheel of the NY Fed as the meltdown happened. These are the actions of an inexperienced, unqualified president that leads by ideology rather than knowledge and wisdom.

The social agenda of giving loans to unqualified people was the root of the meltdown. The $1.5Trillion dollars spent by Obama completes the destruction. Spending can only be of tax money, actually worse since more tax dollars are needed for every dollar spent.

Obama will go down as the most hated and worst presidents in history.



posted on Sep, 6 2010 @ 10:09 AM
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While you guys are senselessly fighting on blaming the President and the advisors, take a break and consider carefully, very carefully:-

Are the economic advisors, professionals and even lecturers of economics that stupid and cannot even come out with answers????

Thus, the true question remains:- Were they truly clueless on how to fix the economy, or

Were they NOT ALLOWED to fix the economy? And by whom, make your guesses.?



posted on Sep, 7 2010 @ 08:34 PM
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James Kunstler just cracked me up as only he can do,. He touched briefly on this news item in his weekly column:



The White House must be a strange place these days with the management of the USA turned over to astrologasters, alchemists, prayer-wheel spinners, fakirs, viziers, necromancers and other visitors from occult realms unaffiliated with the dominion of reality.

One of these characters, Ms. Christina Romer, at a luncheon celebrating her departure as chief of the White House Council of Economic Advisors (i.e. readers of spilled goat innards) even blurted out that she had no idea what's been going on in banking and business and how come America can't be more like it was in 1999. Don't cry for Christina. A cushy chair awaits her at the Hogwarts Berkeley outpost where she can repose in a trance of unknowing until California slides into its own tar pit of default and disintegration.




source:
kunstler.com...



posted on Sep, 8 2010 @ 02:02 PM
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reply to post by silent thunder
 



If only the politicians looked in the direction of the Federal Reserve and the monetary system.

Nut noooo the politicians are busy putting on a show somewhat like a pro-wrestling match where the public is enthralled by the fakery.



posted on Sep, 8 2010 @ 02:40 PM
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To be in Politics means that you are able to produce "Money". It was always our Money because they do not produce anything, we do. They do not own anything because it was all purchased by our Money, and now sadly, the Money of the next several generations ahead of us is spent. It is the biggest Ponzi that no one wants to own, yet everyone participates.

The missing $2.3 trillion from the Pentagon, reported by Donald Rumsfeld, was also lost to everyone's attention because it was announced on 09/10/2001. The next day the World changed!

Ever since that moment the American Dollar has been dumped out of the Country, poured through the Banking Industry to places as far off as Dubai and god knows where. I am certain the RBS might be mindful of where it went.

Suddenly we are indebted beyond our own GDP, and to find ourselves owned by places such as China??

We know they are all connected and they have all had a key role in the shake down of a Nation. The guilt goes on up through to the UN and not a single Country is excluded.

I say that the truth will set us free from this Monetary Prison where our Guards are bent on our destruction. We will begin to see more and more resignations, retirements, and replacements. Even the voters are able to get in on the game come election day. A shuffling and a slight shift of hand and all our Money is gone, soon even our basic freedoms will be lost to this sort of corruption.

Criminals do really bad things, but for a long time the Con is still at play so there are moments when the victim doesn't recognize the crime.



posted on Sep, 8 2010 @ 07:37 PM
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It would seem to me that the very first thing a President would want to do in order to fix things is to take bold and direct action. In this case, were I the President, I'd call in the FBI and have them perform a midnight operation on a Friday, arresting literally everyone at the top of every one of the Federal Reserve Banks, and all of the top level of the Treasury Department (whom are ex-fed employees anyway). There's certainly something they can all be charged with to get them out of the way long enough. Bring in the IRS to make sure the charges stick. While all of these people are detained and denied bail (as they are all highly likely flight risks). Establish a new Treasury Secretary that has literally no affiliation with any bank (and has never worked for one), and have the Federal Reserve shut down. The President would then go on the air and tell the American public (and to an extent, the world) that the currency in their possession will be good until the end of 2011. The Treasury would be taking over all money printing, and that an entirely new currency would be cycled into circulation while the old currency is removed. This gives everyone a grace period to swap out the currencies. This new currency would be based upon a "Treasure Reserve" which would be a combination of precious metals.

The second step would be to ban forever the use of computers in any form or fashion for the purpose of trading on Wall Street and anyone caught doing so would be charged with treason against the United States. High frequency trading, high-frequency price lookups, and sub-cent transactions would all evaporate immediately. Humans would once again be the sole means of making transactions occur. Eliminating the computers and the computer algorithms that are a large part of the reason for this fiasco is imperative.

The third step is declaring a significant draw down of forces across the globe. Our military will return home and will work on returning readiness levels to 100% and getting the latest and greatest hardware into the hands of our soldiers (which will keep the President from being killed by the military industrial complex).

The forth step is starting up the CCC (Civilian Conservation Corps) again and getting those that aren't working, out doing something benefiting the community. They won't get paid much, but they'll be busy, and they'll get fed.

I may not have the best answers out there, but those are the ones I'd play if I were in Obama's shoes. They are bold. They are decisive. And right now, we NEED a decisive leader.



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