Obama fails miserably

[letzrockexpress]

most of what was posted is at this date gobbly gook....it isn't failed yet...what instant results?..it takes more then 60 days to see any tangible results...I am not saying there is going to be any or it may turn out like that...but gee whiz...and if the healthcare does not go thru that chops about 1/3 the estimated deficit..

C'mon man,the last thing most of these people want is positive results. Even if positive results do come from this administration, this crew would never allow the truth to shade their vision. Obama is Satan, Hitler, Bin Laden, Mussolini, Lenin, Pol Pot and the boogie man all rolled up in one...don't you know that? Sheesh....

 

[OntarioVanMan]

C'mon man,the last thing most of these people want is positive results. Even if positive results do come from this administration, this crew would never allow the truth to shade their vision. Obama is Satan, Hitler, Bin Laden, Mussolini, Lenin, Pol Pot and the boogie man all rolled up in one...don't you know that? Sheesh....

I don't know what if any positive results we are going to see..it is too EARLY for the results to show up...

These guys are predicting long term misery because they are negating everything being done and doing their darndest to pull facts where there are none....history does not always repeat itself....
I don't particuliarly care for OBama....but I hope for the American people that something works...

 

[greg334]

These guys are predicting long term misery because they are negating everything being done and doing their darndest to pull facts where there are none....history does not always repeat itself....

But History does repeat itself.

The problem is no one is actually learning history and make statements like the one above. It is not that Obama is the bad person, Leo may think so but our problem sits with the people and the congress - both have a hand in this country's demise.

The sad thing is OVM that no one understand this economy, they are doing the same thing they did in the 20's in Europe and 30's here - guessing which way the wind will blow and trying things that did fail or were not fully implimented and failed. FDR failed in his kensyian spending, but he didn't monitize the debt, expand social programs three fold or try to capture a sixth of the economy to put it under government control. Obama has made the same moves as Mussolini did in the 20's, forcing compaines to be controlled by the government and the reward some of the people who wedge themselves into power as experts. Indeed history is repeating itself as we watch - welcome to Post War Europe.

 

[OntarioVanMan]

we have one thing now post war Europe didn't....the savy American business man.that wants to be a company hero and save his lot.....you know any little detail not exactly the same will down the line change the outcome....

 

[chefdennis]

ovm wrote:

we have one thing now post war Europe didn't....the savy American business man.that wants to be a company hero and save his lot.....you know any little detail not exactly the same will down the line change the outcome....

You mean the same savy American businessman that barry wants to continually add tax after tax onto to pay for his socialist plans? Or the Savy american businessman that is laying off people to lower his payroll so that he can still be profitable while making less and hopefully lowering his tax exposure from barry? Or maybe the savy American businessman that will move his business out of the country or even close it???

Or maybe you mean the savy American businessman whos commerical property is going down in value and he is losing his butt and about to go BK and let his building go into foreclosure because its value as dropped at record pace of almost 18% increase for the 1st 2 quarters of this year when the total commerical property value drop for all of last yr was 12.3%....

Is that the savy business man you are talking about???

Or just maybe you are think of the savy American Business BANKER...one of the 74 banks that have closed this yr or maybe the bankers that are worried about the toxic accounts they are still carrying and can't sell because they will have to take the lose when they are sold because they have been holding them at inflated prices because of the lie that is "mark to market" the the gove let them play with....

Is that the savy American businessman you are talking bout??

LOL, some in the gov (barrys appointee) see's the coming banking proble that is just around the corner and will be worse then we have now... Watch the video linked at the bottom:

* The banks are still insolvent.

* That little tweak to mark-to-market accounting a couple of months ago has allowed us all to plunge into deep denial.

* Now that the banks are allowed to lie about what their toxic assets are worth, they'll never sell them (because if they did they would have to write them down).

* The smaller banks are undercapitalized and will have to raise another $12-$14 billion. And so on...

Those are the basic messages from Elizabeth Warren, head of the Congressional Oversight Panel. Warren's 10 minutes on Morning Joe (via Zero Hedge) are worth watching.

YouTube - "We Have A Real Problem Coming..." Elizabeth Warren- head of the Congressional Oversight Panel

Or the commerical foreclosures that are just now starting and are at record paces (as i said above and the Greg spoke of a few weeks ago) and that are going to get worse...

US commercial property values off 17 pct in H1-IPD

Fri Aug 14, 2009 2:15pm EDT
UPDATE 1-US commercial property values off 17 pct in H1-IPD | Markets | Bonds News | Reuters

NEW YORK, Aug 14 (Reuters) - U.S. commercial real estate market values fell by more than 17 percent in the first half of the year, outstripping their decline for all of 2008, according to the Investment Property Databank (IPD).

Last year, values fell 12.2 percent, according to the report released on Friday.

U.S. commercial real estate values in the first half of 2009 fell more steeply than UK values, said IPD, which analyzes commercial real estate data in global major markets.

"For global real estate investors this may come as a surprise, given that Britain was the most significant real estate market to suffer in 2008," IPD Managing Director Simon Fairchild said in a statement.

U.S. values in the second quarter declined by 6.9 percent, easing somewhat from the 10.8 percent drop in the first quarter, IPD said.

Declines were sharpest in office properties, down 7.8 percent, with industrial properties -- warehouse and distribution centers -- falling 7.5 percent and apartment building values off by 5.8 percent. Retail properties, such as shopping centers and malls, recorded the shallowest decline, at 5.1 percent.

Year-to-date office and industrial property led the decline, each down 18.2 percent. Apartment building values fell 16.5 percent. Retail was down 14.1 percent.

Returns generated by monthly rent edged up 0.2 percentage point to 1.6 percent, softening the decline in overall returns to 5.4 percent.

"Pressure on market values -- in both the US and the UK -- appears to be easing, though not necessarily at an end," Fairchild said. (Reporting by Ilaina Jonas, editing by Gerald E. McCormick)

You have any idea how bad the economy will tank when this gets to the point of no here look at this:

Let's say, you just built a Taco Bell or Dunkin Donuts or family restaurant.

According to this, the average start up cost is 850,000.

http://www.reedconstructiondata.com/...us/STD/226163/

A 12% decline last year would put the value on Jan 1, 2009 at $748,000.

A 17% decline from Jan 1 puts the current value at $621,000.

Continue this trend to the end of the year and the value is $515,000.

Your payments, on a 30 year at 6%, are roughly $5,000, or $167/day.

That is 24 Grand Slams per day just to meet minimum mortgage payments, much less any operating overhead, and your customer base is now down 30%.

But 1.5 years into the loan you still owe $835,000 on a property that might bring $515,000.

What "Savy American businessman in his right mind is coming to stay in that situation?????

No Ken, history does repeat itself and barry is working to get it done in record time.....

 

[OntarioVanMan]

say what you will....I am NOT convinced by magic numbers from either side....

The banks HAD to go...too many mom and pop banks anyhow...thin the herd like in our business....this still yet all goes to my claim America was too far ahead of itself and could not support the phoney growth and this is the result...cutbacks and closings till the appropriate level is reached where ever that is...

 

[chefdennis]

ovm wrote:

cutbacks and closings till the appropriate level is reached where ever that is...

Those cutbacks and closings are coming from the Savy American businessmen that barry NEEDS to pay his tax increases for his socialist programs..as more and more closeup, the pot of tax money gets smeller and smaller and barry then needs to tax YOU, the middleclass...and then you don't have the cash to pay the stuff those Savy American businessmen that survive are trying to sell....cusing their failure and closure...lol, its a "bubble" Ken, and it is going to burst and all is going to fall down...

And now it is time to go take the 2nd shower of the day and then go to get a steak to eat....somethings remain the same!! lol

 

[OntarioVanMan]

ovm wrote:



Those cutbacks and closings are coming from the Savy American businessmen that barry NEEDS to pay his tax increases for his socialist programs..as more and more closeup, the pot of tax money gets smeller and smaller and barry then needs to tax YOU, the middleclass...and then you don't have the cash to pay the stuff those Savy American businessmen that survive are trying to sell....cusing their failure and closure...lol, its a "bubble" Ken, and it is going to burst and all is going to fall down...

And now it is time to go take the 2nd shower of the day and then go to get a steak to eat....somethings remain the same!! lol

as long as I expedite i'll not pay any taxes...heck after adjusted income I am in the hole...*LOL*

 

[chefdennis]

ovm wrote:

as long as I expedite i'll not pay any taxes...heck after adjusted income I am in the hole...*LOL*

has it should be!! I haven't paid income taxes in yrs..even when all of the 4 businesses are factored in, i lose money...well 3 yrs ago i did make $11 after all was said and done!!

 

[greg334]

Hey OVM, don't take this wrong but I am wondering what planet you are from.

The mom and pop banks were never the problem, most of them are forced into the corner by regulators who were regulating them without regulations - i.e. the clinton get everyone a house plan.

The problem with the banks has been since the late 80s and especially the 90s, the FTC and justice department approving all the mergers ands acquisitions that came about. Citi, a company I knew well took over a lot of mom and pop banks some were very solvent and some were very good at mitigating risks of their depositors. I started out with one bank and in the last 10 years it has changed names 6 times because of the buyouts.

 

[OntarioVanMan]

ovm wrote:



has it should be!! I haven't paid income taxes in yrs..even when all of the 4 businesses are factored in, i lose money...well 3 yrs ago i did make $11 after all was said and done!!

a good book keeper is worth their weight in gold....even better than a good lawyer...*LOL*

Now GO eat...I had my steak today!!