Painted_Turtle wrote: 
Do you have any solid evidence to support your insinuations of this alleged "hyperinflation"?  Or are you just a good little GOP minion, spreading FUD, hoping to wreck this nation out of spite?

 rosedraws wrote: 
  The thing that struck me about Obama's speech last night was how similar it was to his other speeches.  I saw a President-elect who wasn't taking a single moment to savor his victory.  He was all about the business of running this country.

History will remember Ronald Reagan and George W. Bush for setting new records for the amount of time not spent executing the duties of President of the United States of America while in office.  I predict that President Obama might be remembered by history as the hardest working President in memory.


The (mostly invisible) talking heads from the local NBC O&O that I watched for most of the night said the same thing.  They commented on how his hair has a bit more gray, how his face has a few more lines etc.  We usually don't see these visible manifestations of the burdens of the Presidency until after several years in office!

But you're right about Obama jumping right in today.  He's already named several people to his transitional team, has secured an invitation to sit in on Presidential briefings starting today, and has asked at least one person to take a key White House position.  And that's all before noon!

 rosedraws wrote: 
I saw video of him getting off his plane a couple of hours after midnight early Tuesday morning. He was, as usual, carrying his own bag and he looked tired coming down the stairs. He then had about two or three hours of shut-eye and was up for breakfast with Michelle and the kids and off to the polling booth at around 8:30 I think. We watched him vote. Then he was back on the plane and off to Indiana (?) for one more campaign rally.

Today he is already hard at it with congratulatory meetings with his campaign headquarters staff and the first of what will be many intense meetings with his advisers. John McCain has the luxury of a sleep-in and some quiet time with Cindy at the condo. Then he's probably off to the ranch for some R&R.

To the victor goes the hard work.

 Painted_Turtle wrote: 
Thanks to President Jimmy Carter, and Carter's Fed. Chairman Paul Volcker, we have a proven solution for stagflation.  Volcker was so effective that even Ronald Reagan kept him on as Fed. Chairman until he left in 1987 to work in the private sector.

The good news is that Paul Volcker is President-elect Barack Obama's economic advisor.

lowelltr wrote:
I'm not naive about what will happen in Obama's first term... especially after seeing the resounding limpness of the dramatically mandated Dem congress of '06.

But Obama could not be more different than the current Boss if he tried.  And boyhowdy am I glad for that!!

 shampa1n wrote: 

The higher cost of food, higher cost of healthcare and the rise and fall, rise and fall, of gasoline are excellent examples of the cost of living increases while wages remain the same or in some instances decrease.

When people spend & borrow more it creates something called hyperinflation, prices go up. Which some economists see as a good thing.  Unfortunately, if the average workers' wage remains the same, that's seen as a bad thing.

A poorer population, ultimately, does not benefit the country.

I believe Ben Bernanke's printing press has already warmed up...so stopping the future government from doing the same would be like closing the proverbial barn door after the horse has already escaped.

 lowelltr wrote: 
The problem with that "sore loser" GOP talking point is that anybody can see at once, just by looking at the color of his skin, that Barack Obama is like no other US President before him.

So much for that talking point!

One of the more respected talking heads last night (after Obama was declared winner) was talking about how he sees Obama moving quickly to set up his team and start right in on his programs.

He's demonstrated remarkable leadership skills, and an ability to systematically and patiently create viable and sustainable programs.

Comments like this were very encouraging to me.

I thought Obama looked a bit exhausted last night... or maybe feeling the WHUMP of History in his chest too.  But he plans to jump right in today and start setting up and be ready to roll.

 Servo wrote: 
Well put Servo!
and others contributing to this thread today, thank you.

 lowelltr wrote: 
My worry also.  I'm not an optimist all the time...

 lowelltr wrote: 
Last night we Americans took the first step in that direction.  As long as we follow this first step with another, and another, and another after that, and keep on stepping, we will realize that "secure future".

 black321 wrote: 


While it works the same whether it's public funds or your own nestegg, it should be noted that they are completely separate things.  The individual is the only one responsible for his/her debts.  The debts owed by our local, state and federal governments are our collective responsibilities as citizens.  While the governments' creditors cannot garnishee our individual wages to collect on public debt, it is in our collective best interest to take ownership of those public debts.

When it comes to public debt, the only way for our governments to raise money is through taxation.  Voluntary contributions might be allowed, but I'm not holding my breath for that to happen to any extent.  So plain and simple logic dictates that the best way to revitalize our national government is to 1.) stop the massive unfunded spending by the Bush administration, and 2.) to raise taxes as high as we can bear in order to pay back the national debt ASAP.  The longer we stall, the more interest will be owed on that debt, making it grow all by itself.

I'm sure that the prospect of higher taxes is not something that any of us relish.  Especially for those who still believe that they can have their cake and eat it too.  But facts is facts.  And those who have enjoyed decades of artificially low taxes should have a pretty impressive nestegg that isn't really theirs.  Those people who supported massive military spending still owe the debts created by that spending, using borrowed money.  Those who balk should be comforted by knowing that they will still escape from paying their fair share, since innocent people who were against this massive spending are stuck with a similar proportion of the debt.

But pay we must.  Either now and willingly, or later and much more, at the pleasure of the nation's creditors.

 lowelltr wrote: 

 black321 wrote: 

Getting the government to do the same is the TRUE road to a secure future for all of us!

 Painted_Turtle wrote: 
production is falling of a cliff as are commodity prices, inflation is not so much a worry unless they start printing money, but you're right!

"Meet the new boss. Same as the old boss."

           -resident Libertarian/Objectivist, and professional cynic (with a nod to The Who)

 Servo wrote: 
Actually there is another, very important way to get poorer.  One that the average American does not have any control over & its very simple:

The cost of living (inflation) goes up, wages/pay remain stagnant...ergo, one gets "poorer"

 Servo wrote: 
are you a republican servo?
however what you say is true but it will take some time for defaults, job losses repossessions  to go through the system. . ( i sincerely hope no one here is touched )
lets hope it's a short time . took japan 10 years to get going after their property bubble.

According to the WGN Midday News, Barack Obama has officially asked Rahm Emanuel to be White House Chief of Staff.

Transition Team names are also trickling in:

• John Podesta
• Valerie Jarrett
• Peter Rouse

Podesta is reported to be "a former chief of staff under Bill Clinton".

Jarrett is reported to be "one of Obama's top advisers".

Rouse is reported to be "Obama's Senate Chief of Staff".

Stay tuned...
One interesting fact is that Franklin D. Roosevelt, who also inherited a nation in economic shambles, also lived in Hyde Park.  In New York, that is...

 Servo wrote: 
Absolutely.  Deficit spending is still a tax...just a tax defered to the future.  Getting americans to stop spending so much and start saving/deleveraging is going to make for a more prosperous future.