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November 24, 2008

Citigroup

Fact: the Republican strategy in 2010 and 2012 will be to attack the Obama White House and Democratic Congress for the massive federal deficit and the national debt.

Happy holidays! We now own eight percent of Citigroup. $300 billion. It's the gift that'll keep on giving for at least two election cycles.

Fact: Barack Obama isn't the president yet.

ADDING... Watch Ben Stein fight Neil Cavuto about this. Yes, the Republicans have lost Ben Stein, who now favors the Krugman plan: spend as much as we can in order to prevent another Great Depression.


Filed under: Barack Obama || Congress || Deficit || Election 2008 || Huffington Post || Paul Krugman || Republicans

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Posted By Bob Cesca | November 24, 2008 9:54 AM

Comments

You know what would be valuable to do? It would be valuable to keep a running list of weird, absurd media claims, and the facts that refute them throughout Obama's presidency. I say that because I'm already discovering people repeating things that I know aren't true and can't figure out why I know they aren't true, or how to verify that they aren't true.

One of the things that I put in my signature on Ex Isle (another community to which I belong) before I put a quote from your book, was "He has ALWAYS been for a phased 16 month withdrawal." I put that with a link to Obama saying as much - because for a little while, the media started claiming that he would be "forced" to a slow withdrawal, and that this would represent a breach of faith with his supporters. I really can't figure out what would make the media make stuff up like that, other than that they, despite handling this information all the time, really don't know what they are talking about half the time - and the public (I speak from personal experience) has preciously short memories for things that don't directly affect our day to day lives.

QT

Posted by: QueenTiye [TypeKey Profile Page] at November 24, 2008 10:46 AM

So Ben Stein believes in Paul Krugman, eye drops, and that dinosaurs and cavemen lived together. What a guy.

Posted by: Travis Disaster [TypeKey Profile Page] at November 24, 2008 11:00 AM

I think it was November 6th when the first letter to the editor in my local paper was blaming the stock market's continued decline on Obama. The lemmings that watch Faux because they think it is news can be counted on to faithfully repeat what they are told. Perhaps that's the point of an asshat like Stein seeing the light through his un-red eyes :P

Posted by: brutlyhonest [TypeKey Profile Page] at November 24, 2008 11:21 AM

Dems should erect a billboard in Times Square or some such prominent location that clearly identifies what was inherited to them by BushCo.

That billboard would then serve as the ongoing "to do" list for the next 4-8 years. It would also serve as an ad hoc memorial to BushCo that all could reference - as an unwavering marker in history. And as issues are resolved they can be struck through on the billboard. Over time we'll see the list shrink until the day when it's all "fixed" and Obama can start HIS Presidency after sweeping up the beer bottles from the BushCo "Republicans Gone Wild" years.

Posted by: LiveFreeOrDie08 [TypeKey Profile Page] at November 24, 2008 11:37 AM

OK- Two more comments since Travis's. But - they are hiding! No amount of refreshing will make them appear!

Hence, I shall do my magic posting act, which will force them out of hiding once and for all... (I hope)

QT

Posted by: QueenTiye [TypeKey Profile Page] at November 24, 2008 11:43 AM

There! It worked! :)

LFOD08: I like that idea a lot.

QT

Posted by: QueenTiye [TypeKey Profile Page] at November 24, 2008 11:44 AM

I'm not afraid to admit I don't know what the hell the right thing to do right now might be. I tend to believe Krugman b/c he's the guy with the Nobel and that carries weight. At the same time, though, knowing that our stock market is based on the stupid whims and the fears and confidences of some shmucks I wouldn't trust to park my car is a good argument for the belief that everyone needs to get their hands off and let things normal out before anyone touches anything again.

Friday, when the announcement that Obama might announce on Monday who he was choosing for Treasury Secretary the market made a huge jump. Doesn't that help make the argument that all of our problems are in fact psychological? Not in the sense that they aren't real of course but in the sense that we project our fear or confidence into our buying and selling and either improve or further screw the market. Again, I may be a Krugman guy, but I'm not willing to say the everybody-out-of-the-pool-till-the-waters-calm approach is wrong.

Side note: I went back and watched segment 7 and the first 4 minutes of sement 8 of "Who Killed the Electric Car" on YouTube because I needed a quick reminder of just how stupid the leaders of our biggest companies are and how awful Republicans have been for energy as well as economics.

Posted by: camel54 [TypeKey Profile Page] at November 24, 2008 11:59 AM

To All,

I have finally figured out this game called the Bailout.

1.) We(lower/working/middle class) got fucked.

2.) WE have invested into 401Ks and mutual funds with as much disposable income WE could to establish some wealth in hopes to retire and not eat cat food.

3.) They(wealthy class) told us to keep out money in the market. Don't worry about the ups and downs that come. Movement in the market is a good thing.

4.) THEY used our investments to run up the stock market to include the companies THEY own and operate. THEY made millions off of our modest investments.

5.) THEY pulled their money out of the losing banks months ago to avoid any losses during this economic meltdown. WE stayed and have watched everything WE have worked for turn to shit.

6.) Stocks have fallen to record lows and now THEY are going to buy up these stocks because WE have just bailed out the market.

7.) WE have lost our retire and now WE are going to pay the bill so THEY can make millions again.

KO is right this will not be called a Bailout for much longer. It will be called "How Daddy went to jail".

Please somebody send this to everyone who will listen and check my theory.

Posted by: GItheJOE [TypeKey Profile Page] at November 24, 2008 3:35 PM

Ben Stein is the world's dumbest smart guy.

Just sayin'.

Posted by: Alaska [TypeKey Profile Page] at November 24, 2008 5:34 PM