U.S. 'economic meltdown:' Russia Today

and everyone knows that Russian media is quite like Faux News.....fairly unbalanced.

One can not even believe the newpapers, commentators in the US.

The President puts out a PR piece. The republicans put out a PR piece, the democrats put out a PR piece.

The commentators, because they are not journalists-journalist investigate, the rest is propaganda, put out "their" ideas, thoughts, comments. (Who cares what they "think"?)

News is slanted, so stop blaming the slanted news in Russia.

We've got the same problem in the US.

and everyone knows that Russian media is quite like Faux News.....fairly unbalanced.

Posted by: bill r. | February 9, 2009 10:31 AM

bill R.- the details are obviously being overstated- having said that, it has been clear that the most hyper conclusions being drawn about the economic future is coming from our so called leaders...this story could have been sourced from Obama's Friday "catastrophe" speech..

Weird little post wealthy America factoid;
Guess who owns large pieces of the once mighty American steel industry?
Go ahead and guess.
I'll tell ya; Russia

Heartburn.......The "catastrophe" speech you speak of is not an Obama exclusive. If I remember correctly, The head of the republican party in October, Bush, called it a catastrophe. I also hear several "conservative" Senators out calling the bailout a catastrophe. It also seems funny how if anyone for another country says anything good about Obama...the first thing I hear is "we don't care what they think". Is this different?

Heartburn.......The "catastrophe" speech you speak of is not an Obama exclusive. If I remember correctly, The head of the republican party in October, Bush, called it a catastrophe. I also hear several "conservative" Senators out calling the bailout a catastrophe. It also seems funny how if anyone for another country says anything good about Obama...the first thing I hear is "we don't care what they think". Is this different?

Posted by: bill r. | February 9, 2009 12:39 PM

No- that is the point - it is not different...
the problem is that your guy ran on a vaguely worded "hope and change" platform- with his ability to make the earth cool and to make the oceans recede- it has to be disappointing to his supporters to hear him essentially providing the same rationale for spending mass quantities of our money as the much hated Bush- 3 weeks into the deal... are you happy with this?

heartburn....well it makes it a little harder to discuss when we throw in the "messiah" angle, but I'll try. Am I happy with having to spend this much? Certainly not. I certainly wish the previous administration had caught it. The funny thing is that well before the bubble broke in 05" there was plenty of speculation this was were we were headed. I personally liquidated over 2 million in property hedging my bet that this would be coming. Do I think tax breaks are the only answer? Not a chance. I also feel that much of what the right labels as pork, is still a stimulus and puts people back to work. I think it is the type of projects that the right disagree with. Such as Steele saying removing fish barriers(dams). It still stimulates a sector....just not the sector they want to stimulate.

heartburn....well it makes it a little harder to discuss when we throw in the "messiah" angle, but I'll try. Am I happy with having to spend this much? Certainly not. I certainly wish the previous administration had caught it. The funny thing is that well before the bubble broke in 05" there was plenty of speculation this was were we were headed. I personally liquidated over 2 million in property hedging my bet that this would be coming. Do I think tax breaks are the only answer? Not a chance. I also feel that much of what the right labels as pork, is still a stimulus and puts people back to work. I think it is the type of projects that the right disagree with. Such as Steele saying removing fish barriers(dams). It still stimulates a sector....just not the sector they want to stimulate.

Posted by: bill r. | February 9, 2009 3:28 PM
++

The amount and targets for the stimulus are a huge concern- and yes tax cuts should be the primary vehicle for stimulating this economy...the advanatge being that putting money into peoples ( and business owners) hands is a much more efficient way than the gov'ts built in waste and borderline theft due to what will likely be horrible oversight.
++
the intent of my post was to point out the irony of Obama's current use of language which is in complete contrast to his campaign rhetoric... and in almost lockstep with the Bush/Paulson rhetoric - this 'catastrophic' sky is falling rhetoric- which is intended on lowering the bar(expectations) for Obama politically is causing almost as much damage as anything else right now-

heartburn......obviously we have different takes on this. I understand what you say, I just feel that few can deny that this crisis is much worse than what was discussed during most of his campaign. We will have to agree to disagree and that's OK by me.

Heartburn, as usual, you could not be more wrong. People will not spend the money from a tax cut. It just will not happen. Look at the last tax rebate and how well that worked. Look at bushies tax cuts....that did not work. The only way to get money into the market is either for the government to spend it; for the government to force individuals to; for the governement to force businesses to; or for the government to inspire businesses to; I think they might be able to inspire the people to, but that would be a tought sell. I will leave it to you to figure out how this is all written into the bills. Giving people money does not work. It has already been proven.

I'm saving mine. Mrs. Morris too.
No new private spending.

The Senate 'compromised' bill is a Trojan Horse. It's a Republican wet d#@&# that they will all vote against because they know it will fail to lift the economy.

Giving people money does not work. It has already been proven.

Posted by: Xcellentform | February 9, 2009 4:32 PM

You hsve to be kidding me? Are you really saying that the FED is GIVING me my money?

I think you just summed up liberal "logic" very well...

The only way to get money into the market is either for the government to spend it; for the government to force individuals to; for the governement to force businesses to; or for the government to inspire businesses to;
Posted by: Xcellentform | February 9, 2009 4:32 PM

Xcellentform: after reading your excellent economic theory ..i think it's about time you should start posting on the Disney web site, because you surely don't know a thing about this topic.

hb, xcel,
Just to clarify; It's not money.
We don't have any money.
We have debt.
We are a pauper nation attempting to
support the largest military in history.
It's all coming down.