Sunday, March 22, 2009

Obama the Speed of a Recovering Economy

I haven't seen the 60 Minutes interview with Steve Kroft, yet. It's Tivo'ed so I'll get to it. But I did see a transcript of this comment that the President made during the interview:

There’s a potential silver lining, which may be that things are so accelerated now, the modern economy is so intertwined and wired, that things happen really fast. . . but things may recover faster than they have in the past.
Who knows how much of this he really believes? It could just be political hype. But I think the president has something here. The markets do act quicker. And, given the money Bernanke has printed, there is a good chance the economy will move to the upside much quicker than most expect. In fact, I am one of the few that expects the rebound to start within a matter of months, if it hasn't started already.

Of course, this means the dollar collapse and any future inflation will also occur much sooner.

4 comments:

  1. That's funny. If he believed this he would not be doing a slow-motion keynesian stimulus. Most of the spending is months to years away.

    He says stuff all the time like: markets are the cornerstone of our economy...and then he goes out and over rides the market and recommends more regulation.

    His actions undermine the kernals of truth that slip in there and make for a seductive phrase or two that he turns so well.

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  2. If the US economy is like a rubber ball, it may bounce back. However, I am afraid that the US economy could be more like a rotten tomato, and then it will hit the ground with a big splat.

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  3. To von Pepe

    Or he could believe it. That's why he is doing only slow motion stimulus--just to shovel some money to his friends and put on a show for the masses.

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  4. I like Robert's comment warning about good news.

    In front of every silver lining, is a cloud

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