Appropriate: A delayed economic speech on the delayed economic recovery
Tick, tick, tick.
I noted in an earlier post that President Obama’s economic address in the Rose Garden had been scheduled for 12:30pm Eastern. It is now past 1:00pm Eastern. Wonder what kind of tension there must have been on his economic team phone conference this morning?
Reader @nicklaus on Twitter quips that the recovery is “delayed,” so it’s entirely fitting that the laggard president’s address today is late, too.
Meanwhile, in case you missed, here are the depressing details of the next massive expansion of government aid to home borrowers:
The Obama administration plans to set up an emergency loan program for the unemployed and a government mortgage refinancing effort in the next few weeks to help homeowners after home sales dropped in July, Housing and Urban Development Secretary Shaun Donovan said.
“The July numbers were worse than we expected, worse than the general market expected, and we are concerned,” Donovan said on CNN’s “State of the Union” program yesterday. “That’s why we are taking additional steps to move forward.”
The administration will begin a Federal Housing Authority refinancing effort to help borrowers who are struggling to pay their mortgages, and will start an emergency homeowners’ loan program for unemployed borrowers so they can stay in their homes, Donovan said.
Responsible renters, there’s nothing for you.
Flashback 2009: Washington’s recipe for more mortgage defaults
***
Obama’s remarks were brief — interrupted by Obama complaining about the microphone and audio half the time. He blasted the GOP for opposing the Dems’ $30 billion “small business” bill and called for ending the legislative “blockade.” (Too bad he couldn’t spare the time to meet with the mom-and-pop fishermen’s flotilla on Martha’s Vineyard.)
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Unexpectedly of course.
Recovery bummer … That’s never coming, until Obama exits the White House.
Aww give the President a break as his delay is due to still trying to pull the mom jeans out of his fourth point of contact!
“We’re buying shrimp, guys”
Totus blew a fuse and a new one is being picked by Air Force one from China!
L
bho needs a vacation from his vacation. Being POTUS has proved to be WAY above his pay-grade and skill level.
mmmmm dude looks tired.
If I had the time and ability to set up a site dedicated solely to counting how many time Obama, Pelosi and Reed blame the MINORITY GOP I’d do it.
As long as they keep playing these games, the housing and mortgage markets will remain frozen. It’ll take years to work through the inventory of new and older homes plus the inevitable massive influx of foreclosures. We have the hottest market in the country around SA, and it still takes months to years to move a property. My neighbor has had his on the market for a couple of years without a nibble. In all fairness though, as I pointed out to his wife, the cow turds in the front yard probably don’t help much.
His being late is not just a trend, its a habit.
He was even late to the State of the Union Address… kept ALL of America waiting…
Hubris… plain and simple…
And as I tell my children, being late shows a blatant disrespect for those you are meeting..
I just saw that the money quote from Obama’s speech is that he is going to have a “full-scale attack” to revive the economy.
So is that going to counter the ful-scale attack that he and the Democrats launched earlier this year on the economy?
To paraphrase Ronald Reagan: “A recession is when your neighbor loses his job; a depression is when you lose your job; recovery is when Barack Obama loses his job.”
Obrainless and dems better remember that the unemployed get to vote, too. And 20% unemployment is a lot of votes.
It’s how socialists mobilize the serfs. Read Liberal Fascism by Jonah Goldberg.
***
How’s that RECOVERY SUMMER working out, Comrade Obama?
***
Now that He is all “rested up”–time for a STIMULUS III to really “rev up” the economy and get it out of the ditch–and over the cliff. Maybe He will call it the RECOVERY FALL.
***
TSUNAMI COMING on November 2, 2010. Followed by a real clean sweep of the White House in November, 2012.
***
John Bibb
***
There isn’t a serious economist who believes obama and congress are doing the right things economically, nor is there a serious historian who can show where doing the things that have been done has been successful. Amazing thing though, obama and congress seem to be of the belief that if they keep doing what they are doing, only doing it more boldly, it’s just bound to succeed (probably simply because THIS time, THEY are doing it whereas, in the past, others did it)
P.S. – Note lack of capitals in post #15, was not in error – it was entirely intentional.
Don’t kid yourself that a lot of them aren’t blaming Bush and the Republicans, as well as “greedy corporations moving jobs overseas” for being out of work. That’s what the media has been telling them for years.
Like a LASER!
Or, at least like a flashlight.
Okay, maybe more like a nightlight.
Would you believe a birthday candle?
These guys are focused!
/s
*It was kind of nice not to have to hear his voice over the past 2 weeks; The country is sick, and this man is the poison; The antidote will be applied on 11/2, but expect P-BO to double down on the insanity between now and then; His DNA allows for nothing less.
Speech was likely delayed because he was busy planning his next vacation.
Or maybe they could agree on which lies to tell.
couldn’t agree
Sung to the tune of the Oscar Meyer weiner song:
Oh, I’m seeing that Obama is a weiner,
He destroys economies on just a whim.
His wife appears just to be getting meaner,
Cause only liberal morons still love him.
Maybe this is the car that he keeps talking about driving. It’s even got an ad in spanish for American Idol. How appropriate.
“Have I ever failed you Chief?”
.
.
.
.
“Recently?”
The great MOUTH must be trying to figure out how you can spin this dogcrap news into rose petals. Good luck.
Here is another quote from his speech:
he should have followed up by saying at I worked hard at doubling it in just one year in office!
True, but they had jobs when Bush was president and they don’t now with Obrainless in charge. That simple fact is pretty hard to deny.
When the ball club is losing, they replace the manager. And no amount of “it was my predecessor’s fault” will save his job. People can tell belly-aching when they hear it.
Ooh I smell a Beatles tune:
I’m so tired, I haven’t slept a wink
I’m so tired, my mind is on the blink
I wonder should I get up and fix myself a drink
No,no,no.
I’m so tired I don’t know what to do
I’m so tired my mind is set on you
I wonder should I call you but I know what you would do
You’d say I’m putting you on
But it’s no joke, it’s doing me harm
You know I can’t sleep, I can’t stop my brain
You know it’s three weeks, I’m going insane
You know I’d give you everything I’ve got
for a little peace of mind
I’m so tired, I’m feeling so upset
Although I’m so tired I’ll have another cigarette
And curse Sir Walter Raleigh
He was such a stupid get.
You’d say I’m putting you on
But it’s no joke, it’s doing me harm
You know I can’t sleep, I can’t stop my brain
You know it’s three weeks, I’m going insane
You know I’d give you everything I’ve got
for a little peace of mind
I’d give you everything I’ve got for a little peace of mind
I’d give you everything I’ve got for a little peace of mind
(mumbling)
BTW, too much is usually made of stock market reactions after Obama speaks but the market sank immediately after today’s comments made it clear that Obama is stuck on stupid. The delay suggested possible disharmony on Team Obama and the tired “blame Bush” message was again simply infantile.
On the other hand, you would think that with the GOP polling for a big sweep in November, the market would rally. It may be too early for that to factor in since their is still plenty of time for this Congress to inflict further serious damage but it does say something about the dearth of confidence investors have in THIS Republican Party.
Don’t hold your breath that things will improve much once the GOP gets back in.
Or perhaps the market is skeptical seeing that the Republicans (at least on the national level) seem to be sitting back and just counting on a big win instead of really going out there and putting forth a Conservative message telling America how they will fix the situation like was done in the 94 mid-term with the contract with America.
I agree. Last week, Boehner made comments in Cleveland that were misreported all around. The MSM only reported his call for Obama to fire his economic team. On the other hand, the Republican media protested that his other points weren’t reported missing the point that on close analysis, he really didn’t say anything.
His call for Congress to repeal a small (albeit important) provision of Obamacare at first reading sounds like he is calling for the repeal of Obamacare. Wrong! He mentions Paul Ryan’s proposed $1.3 trillion cut in spending but not as a plan of action.
And the mischief by the NRSC in AK (and I suspect in CA too BTW) really makes it very hard to trust the GOP.
Buy your silver and gold bullion now, avoid the rush.
I bought it years ago back when gold was still only around $400 an ounce.
Doc Zero wannabe rant…
The current economic situation of our country shows that the idea of bigger government translating to private sector growth is an idea that doesn’t work. It’s as though the free market climbs out of the pool only to find that the air is colder than the water. When it hears about the economy’s depressing statistics and dim forecasts, the free market experiences serious…shrinkage. Pardon the somewhat vulgar Seinfeld analogy, but even nations like China are beginning to understand that a country cannot thrive on government reliance. Government needs to allow private enterprise to feed itself, not only to help the nation’s present and future interests but to nourish the moral sanity of its citizens.
The modus operandi of government is to come up with big short-term solutions to big long-term problems–short-term meaning the next five, ten, or even twenty years. We now witness the effects of entitlement and dependency programs that were created in a different time and world. Society’s elders suffer because the fruits that their government planted decades ago rot before their eyes, even as the younger generation consumes the nauseating, fuzzy decay with glee.
The government now employs more people than any company, and they pay twice as much for their employees. Its citizens are more dependent on government than ever. Have Americans run out of ideas to support themselves, or does the government prohibit certain ideas from getting a fair shot, thereby discouraging those who have other ideas? Hasn’t the government’s present focus been rather selective and closed-minded? And how can a free market exist if particular, politically correct interests always have the upper hand or the “leg up”?
The solution to everyone’s problems cannot lie in the government’s hands anymore. We see the havok the government has wrought in encouraging the belief that we are unable to run our own lives. It has created a serfdom that has no will of its own anymore. Our way of thinking must change, and our resolve must grow, or we’ll soon find that we’ll be unable to do anything about it.
We have to emerge from this cold, confined pool of governance that chills us more every day. We must bare ourselves to the fresh, warm air of freedom–the freedom to choose, the freedom to fail, the freedom to dictate our individual futures. We must innovate. We must create. We must stand. We need the integrity to take off these wet trunks and bask in the brightness of independence. Heat needs an energy source, and we must take it upon ourselves to be that source. It has to start somewhere, and soon. Because shrinkage has a limit.
They had to pay the power bill first, or POTUS couldn’t use TOTUS.
Ditto, but did you know the (Obama) IRS has classified gold as a collectible so they can charge you an outrageous tax on it?
Yes, but I believe that is only on the gold/silver/platnium you buy or sell after the date of classification. So I figure I will just hold onto it for awhile (at least till Obama and co are out of power).
Our ecomony is hemmoraging and Obama wants to keep applying bandaids.
How about some real solutions like extending the Bush tax cuts, reducing non-defense spending, and blocking or repealing anti-business legislation like Obamacare, Cap & Trade, and card check. That should stop the bleeding!
This is off-topic, but I need to mention this while I think of it. We absolutely must continue to speak of the healthcare debacle as “Obamacare“. I want that man to OWN that disgusting bill that was forced on the American People. I want the history books to show that this was Obama’s downfall and it was a massive failure. That is what he will be remembered for. Oh, and also for treason and prison, of course. So, always refer to it as Obamacare. His name must be attached to it.
OBAMACARE IT IS, IT WAS, AND IT EVER SHALL BE, until the blessed end. . .amen.
Obama with the umbrella … the perfect explanation for what Obama knows about anything.
How can he be so smart.
Oh yeah, you preach it, brother!!
Speaking of umbrellas, didn’t it rain a lot on his vacation? And wasn’t it raining during that interview? Hmmm…could Someone be a bit P.O.’d at him??
More gubmint aid is simply putting off the inevitable.
But what, exactly, should be done.
The fact is that a lot of people who are in danger of foreclosure are NOT wild-eyed speculators that bought a mansion when a bungalow was their speed. They are just plain folks who have been thrown under the proverbial bus by globalization and the ruling classes that don’t give a damn.
The prosperity of past years has been an illusion – fueled by credit and insane fiscal policy (ever wonder why savings accounts are worthless investments?).
Wealth that evaporates overnight was never real in the first place.
The middle class is under attack – the rich get richer and the poor become more numerous. This isn’t a commie statement – it’s a fact (see below).
We in the middle class just aren’t worth what we used to be.
http://www.zerohedge.com/article/presenting-findings-working-group-extreme-american-inequality
The article 1st mentioned low home sales, then the bummer said he was going to help people pay their mortgages. How can staying in one’s home help sell more houses.
Boys and Girls this clown has to go. Maybe we can get MSNBC to offer him and biteme a job after the fall elections.
This is the problem when you put Ivy League professors into decision making positions where real people’s lives are effected. These profs live in a world of tenured employment, socialist ideology (except for themselves of course), and delusional self importance and intellect. The more prestigious the institution they came from, the more convinced they are they can walk on water and cure all the peasants problems. They have all the answers! Of course if this were true, these BRILLIANT masters of the universe wouldn’t need tenure, because the world would be beating down the doors to hire them. The truly brilliant people of this world create and produce things which people need AND want enough to BUY. Do people really want to buy a college education for 40k per year, no, but they will because it is perceived as a key to future success. If our K – 12 education weren’t so crappy, 1/2 the people paying for college wouldn’t need the 4 year EXPENSIVE HIGH SCHOOL WITH TOGA PARTIES.
Wasn’t it this same sniveling jagweed who declared, “I won” when Republicans WANTED to work with him?
NOW he wants their help?