Are folks here being realistic about the what the Administration can do on the economy and when?

[CreekDog]

look at what's in front of them (with only 55 days on the job --less for his appointees):

1) they must fully understand the problems
2) they must react quickly to problems nobody fully understands
3) they must react to problems in a way that calms the markets
4) nobody can be sure what the results of their actions will be
5) their interim solutions are to keep as many people working, calm the markets as much as possible until long term solutions can be fashioned
6) they can't comprehensively implement solutions without significant reform that takes time to create and time to pass through congress
7) anything that causes people or investors to pull large quantities of cash or otherwise cash in investments (or at least at a rate faster than we are seeing now) will doom major institutions and even nations --such events could feed on themselves imperiling even strong institutions

in other words, the administration likely knows the whole thing is a house of cards, but it is standing, though wobbly. they have to figure a way to replace the card structure with a good structure (which will take years). but if the house of cards collapses and we get mired in a worldwide depression, we may not have the means to rebuild. furthermore, if governments and currencies fail, that will make things even harder.

i think folks that like to be morally outraged all the time have plenty to work with in this economy. but the only thing more distasteful than the actions our government needs to take to keep the calamity from growing worse are the bull in the china shop reactions that some would have our government do.

[leftstreet]

1. Obama's Treasury picks "fully understand the problems"

I'll let you guess why

[CreekDog]

3. glib answer that doesn't address any of the other points

which is more about how they should react.

secondly, Geithner wasn't always on Wall Street.

[RoyGBiv]

2. No, few are being realistic ...

And many are sitting glued to the television screaming their bloody heads off about what Obama/Geithner/Bernake are/are not doing in one breath and screaming their bloody heads off about how the media is a right-wing mouthpiece in another without even a hint of irony.

The Treasury Dept is in bad shape right now, not even ramped up to start dealing with these problems in the way that is needed. The staff is abysmally low. That's my only real complaint with what Obama's doing right now. He needs to step on some heads to get those positions filled even if it means putting on his "angry face."

[sandnsea]

4. Obama just said it's like a finger on a hand grenade

You don't want it to blow up, so you kind of have to talk the guy off the trigger and it'll take some time.

He explained the financial problem very well, except the problem with the mortgages was that the interest rates went up, not that people couldn't afford them to begin with.

[CreekDog]

7. well had the interest rates not gone up, they could have afforded them

the raw interest rates without margins could have been afforded, however, when you add a 3% margin to an existing rate, it becomes unaffordable. that's my take, not quite as drastic as yours regarding ARMS.

but i like the hand grenade analogy which is very apt and something the average person will understand.

[Trajan]

5. It took 8 ugly fucking years to screw everything up this badly ...

It will take at least 1 year to alter the negative trajectory ....

PATIENCE on a good road is better than the low road we used to ride upon ....

[floridablue]

6. I don't recall the President or the stock market

having a great effect on the economy. I remember President Nixon saying if he had any money he would invest in the stock market. That didn't exactly cause a rally the next day.

[CreekDog]

9. having the wrong one for 8 years certainly affected the economy

i'm not sure i'd change my mind on that based on the little you've written here.

[floridablue]

12. I agree with what you say, the way you say it.

I need to revise my thinking. In my 66 years of observation and a lifetime of reading american history and politics, I do not think the accumulative prior to 2000 can match the destruction done to our country in so many ways as that of the past 8 years.

[jody]

8. Don't "unrealistic" people believe they are "realistic" and all others are "unrealistic"? n/t

[NavyDavy]

10. I don't think alot of people here grasp how bad the economy was

when the President took over.....ok saying alot is not fair but there are quite a few and there are alot of PUMAs and concern trolls coming here lately

[Jennicut]

13. Totally agree. Lots and lots of concern trolls here lately...though one

was gotten rid of yesterday.

[Clio the Leo]

11. Nope, not at all. NT