Emanuel accepts White House job

[Mcluhan]

Let's remeber that Jimmy Carter handed Ronald Reagan 12% unemployment and 19% interest rates.....

In an interesting note, it seems Ole Reagan is schooling the young Obama on his transition - his (Reagan's) is widely considered the best yet.

So, how do we score the "Change" factor on moving a conservative Orthodox Israeli supporter into the Chief of Staff Job?

I say Obama scores 0 change points on the blind-support-of-Israel policy.

OTB

According to history, inflation started in the mid sixties, a decade and a half before Carter was blamed for it. Fed Chairman Paul Volcker cured the problem with a one-two punch, inducing a recession, then expanding the money supply, creating an expanding economy which Reagan caught in an upswing. Just thought i'd mention that, in case there was any confusion.

Repercussions of deficit spending on Vietnam war, '70's OPEC oil price shocks created the scenario. US still had a manufacturing base back then. With this 2009 crash we sail into a completely uncharted waters.

A better parallel is the crash of 1873. The economic fundamentals of global trade went thru a shake up when the US took over the European wheat market, underselling Russia and Central Europe. There was a real estate bubble in Europe, collapse triggered a banking crisis, then an industry crash in US.

http://chronicle.com/temp/reprint.php?id=477k3d8mh2wmtpc4b6h07p4hy9z83x18


In other news, Paul Krugman was on CNN tonight talking about the need for an 800 billion stimulus per year for the next few years to get thru this 'thing' , as they called it on Lou Dobbs.

"KRUGMAN: There's a line economists sometimes use. You don't have to fill a flat tire through the hole. We don't have to reflate the things that were over-inflated and collapsed. But we do need -- we can do a lot. Again, infrastructure, we can do a lot of spending -- it's not easy. But -- and nobody says we're going to bring prosperity. We're really just talking about trying to minimize the damage. "

Obama inherits an economy which has been hollowed out and is in a state of collapse, unlike Reagan's Volcker-granted 7 years of prosperity. Obama will get a plan and then spend his way along a dark, possibly long tunnel. I don't see daylight in the picture 4 years from now.

 

[capncrunch]

I wasn't familiar with Emanuel until I saw this report in the newspaper, but from what I've read of him - Emanual - I think it's a pretty good call. I've said since the beginning that Obama is going to need a tough-as-nails point man and it looks like Emanuel just might be the guy.

It's a bit reminiscent of the command of a Navy ship. The Captain makes the decisions, the Executive Officer ensures that they're carried out. The Captain is often looked on by the crew as almost god-like, whereas the XO is seen as the pit bull.

 

[onthebottom]

According to history, inflation started in the mid sixties, a decade and a half before Carter was blamed for it. Fed Chairman Paul Volcker cured the problem with a one-two punch, inducing a recession, then expanding the money supply, creating an expanding economy which Reagan caught in an upswing. Just thought i'd mention that, in case there was any confusion.

Repercussions of deficit spending on Vietnam war, '70's OPEC oil price shocks created the scenario. US still had a manufacturing base back then. With this 2009 crash we sail into a completely uncharted waters.

A better parallel is the crash of 1873. The economic fundamentals of global trade went thru a shake up when the US took over the European wheat market, underselling Russia and Central Europe. There was a real estate bubble in Europe, collapse triggered a banking crisis, then an industry crash in US.

http://chronicle.com/temp/reprint.php?id=477k3d8mh2wmtpc4b6h07p4hy9z83x18


In other news, Paul Krugman was on CNN tonight talking about the need for an 800 billion stimulus per year for the next few years to get thru this 'thing' , as they called it on Lou Dobbs.

"KRUGMAN: There's a line economists sometimes use. You don't have to fill a flat tire through the hole. We don't have to reflate the things that were over-inflated and collapsed. But we do need -- we can do a lot. Again, infrastructure, we can do a lot of spending -- it's not easy. But -- and nobody says we're going to bring prosperity. We're really just talking about trying to minimize the damage. "

Obama inherits an economy which has been hollowed out and is in a state of collapse, unlike Reagan's Volcker-granted 7 years of prosperity. Obama will get a plan and then spend his way along a dark, possibly long tunnel. I don't see daylight in the picture 4 years from now.

I'll let the numbers speak for themselves:

Year Inflation Rate

1961 1.07
1962 1.20
1963 1.24
1964 1.28
1965 1.59
1966 3.01
1967 2.78
1968 4.27
1969 5.46
1970 5.85
1971 4.30
1972 3.27
1973 6.16
1974 11.03
1975 9.20
1976 5.75
1977 6.50
1978 7.62
1979 11.22
1980 13.53
1981 10.35
1982 6.16
1983 3.22
1984 4.30


OTB

 

[Don]

It's a bit reminiscent of the command of a Navy ship. The Captain makes the decisions, the Executive Officer ensures that they're carried out. The Captain is often looked on by the crew as almost god-like, whereas the XO is seen as the pit bull.

Yeah my thoughts too. His job is to be a asshole so Obama can look nice.

 

[Mcluhan]

I'll let the numbers speak for themselves:

Year Inflation Rate

1965 1.59
1966 3.01
1967 2.78
1968 4.27
1969 5.46
1970 5.85
1971 4.30


OTB

Funny, i was going to post those numbers with my previous, in support of it, but decided not to because it was visual over-kill. So i guess you chose not to understand the argument..

 

[onthebottom]

Funny, i was going to post those numbers with my previous, in support of it, but decided not to because it was visual over-kill. So i guess you chose not to understand the argument..

I got the point, compare those numbers to:

1976 5.75
1977 6.50
1978 7.62
1979 11.22
1980 13.53
1981 10.35

Reagan had his work cut out for him..... in two years he had it down to:

1983 3.22

OTB

 

[themexi]

Please. You're reaching here.

We both know Obama can't bring change without a competent team. Emanuel is about as competent as they come. He understands both the legislative and executive branches better than most. He was an exceptional choice.

Unlike your pal carabou Barbie, Emanuel is a REAL pitbull. A pitbull with teeth, not lipstick.

As long as he is a pitbull that serves his AMERICAN master over his israeli one, he might just be useful. Hopefully Obama will both be able to detect any treason & be able to effectively yank on the choke chain.

ANY Govt official that lets foreign sentiment override the genuine best interest of the country they serve is a traitor & should be hung. I just hope with Emanuel the apple fell Reeeaallly far from the terrorist tree.

 

[WoodPeckr]

Reagan had his work cut out for him..... in two years he had it down to:

1983 3.22

OTB

Yeah Right!
Here's what brainless Ronnie did. His tight monetary policy in the United States to control inflation lead to another recession, where many lost their jobs!....

 

[Gyaos]

Let's remeber that Jimmy Carter handed Ronald Reagan 12% unemployment and 19% interest rates.....

And Roosevelt was handed the Great Depression, had 15% unemployment when he was up for re-election, and was re-elected with 528 delegates vs 8 delegates.

Gyaos Baltar.