Sen. Obama First African-American President

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As Economic Crisis Peaked, Tide Turned Against McCain
The presidential race entered a critical three-day period in September when the economic crisis cast the candidates' differences in sharp relief.

On Sept. 24, with financial markets verging on panic and the economy thudding, Democratic Sen. Barack Obama placed a call to rival John McCain. He wanted to suggest they issue a joint statement on proposed financial-bailout legislation. As hours went by without a return call, Obama aides emailed each other, asking, "Have you heard anything?" One answered: "The McCain camp is cooking up something."

Later that day, Sen. McCain went before the cameras to say he was suspending his campaign to focus on helping craft the legislation. "What does that mean -- suspend the campaign?" Sen. Obama asked his staff on the trail, according to aides. At a news conference in Florida, he said, "It's going to be part of the president's job to be able to deal with more than one thing at once."...

http://online.wsj.com/article/SB122586043326400685.html

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God Bless America
President-elect Barack Obama addressed cheering crowds at Grant Park in his hometown of Chicago
If there is anyone out there who still doubts that America is a place where all things are possible; who still wonders if the dream of our founders is alive in our time; who still questions the power of our democracy, tonight is your answer.
It's the answer told by lines that stretched around schools and churches in numbers this nation has never seen; by people who waited three hours and four hours, many for the very first time in their lives, because they believed that this time must be different; that their voice could be that difference.
It's the answer spoken by young and old, rich and poor, Democrat and Republican, black, white, Latino, Asian, Native American, gay, straight, disabled and not disabled - Americans who sent a message to the world that we have never been a collection of Red States and Blue States: we are, and always will be, the United States of America.
http://www.reuters.com/news/video?video ... liticsNews

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Economists React: Obama Election Makes ‘08 Reverse of ‘80

For markets the all-Democratic government will usher in a new range of issues. ‘08 is the reverse of ‘80 — just as the Reagan election in 1980 accelerated the drive for the limited government agenda, the 2008 election will accelerate the drive toward a more activist role for government. The first “feel-good” market response to the election is probably over, and markets will now start to focus on specific policy actions… This will be the most interesting and challenging transition in decades, given the continued policy decision-making in the financial sphere. The problem is that the president-elect will not take office for 2 ½ months (Jan 20), and several decisions whose impact will last into Obama’s term could be taken in the interim. Get used to the cliché “one president at a time,” as Bush is still the decider but everyone will want to know Obama’s stance. –ISI Group
Obama
The main issue that markets will watch related to the election will be the transition from the Bush Administration… Quick appointments and joint action could rally market sentiment in the near term, especially given the continued uncertainty about the direction of the TARP; there is little clarity whether TARP will be devoted towards injecting more capital into more firms of more industries, directly assisting homeowners with their mortgages, buying troubled assets through an auction process (or even directly), and so forth. In contrast, stories of culture clashes and departmental in-fighting will be quite negative and dampen any hopes around a nearer-term recovery. –Daniel Tenengauzer, Merrill Lynch
Barack Obama is a lucky man. The worst of the recession may be happening before he enters the White House. He can take credit for the recovery, unless he prolongs the recession by raising taxes. Hopefully, his economic advisors will tell him that the economic situation is so bad that his administration must begin by stimulating the economy. In other words, the New Deal must take precedence over the Fair Deal. I still believe that the government should nationalize Fannie and Freddie and have them buy 30-year mortgages with 4% rates. A similar idea is to provide all mortgage borrowers with a two percentage-point subsidy. The Bushies seemed more focused on reactively stabilizing the economy than on stimulating it. The Obamites are likely to be much more proactive, using all the resources of the government (that are left) to get the economy growing again. –Ed Yardeni, Yardeni Research
Exit polls indicate that the economy was overwhelmingly the most important issue deciding this election, also as expected. That being the case, we expect President-elect Obama to move decisively to address economic stress. We suspect he will support even more fiscal stimulus than the $200bn we have penciled in to our forecast; Congress could move on this even before the change-over on January 20. The president-elect has also advocated a 90-day moratorium on foreclosures; how this fares in Congress is less certain. –Goldman Sachs
A magnificent victory for Barack Obama. And bear in mind that the campaign, in its final stages, was really about different philosophies of governing. This wasn’t like the 2004 campaign, which was essentially fought over fake issues — Bush running on national security and social issues, then claiming that he had a mandate to privatize Social Security. In this election, Obama proudly stood up for progressive values and the superiority of progressive policies; John McCain, in return, denounced him as a socialist, a redistributor. And the American people rendered their verdict. Now the work begins. –Paul Krugman, Princeton University and New York Times
Barack Obama will be the next President of the United States and will govern with huge Democratic majorities in the House and Senate. What will he do? … In many ways, the bad economy will allow Obama to duck critical long-term issues, such as entitlements, trade, and tax reform. But sooner or later, he will have to decide: Will he run a Bob Rubin economic policy or follow a Bob Reich agenda? Neither man is likely to serve in his administration, but the echoes of their differences remain, still unresolved eight years after the end of the Clinton presidency. –Howard Gleckman, Tax Policy Center
http://blogs.wsj.com/economics/
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RICHMOND, Va. -- Wesley Carter, 101 years old and an African-American, rose at 5:15 in the morning and drove to his polling place, where the line was already two blocks long. It started to rain. He opened the seat built into his cane, sat down and waited.
"I'm the oldest thing around here, and I never believed I'd see a black man as president in my lifetime," said Mr. Carter, a retired educator. "It's Martin Luther King Jr.'s dream coming true."
http://online.wsj.com/article/SB1225858 ... earch.html
http://online.wsj.com/public/us
JESSE: <He is a strong organizer and knows how to play the game...>
http://jessescrossroadscafe.blogspot.co ... ities.html
[" We are what we pretend to be, so we must be careful what we pretend to be" K.Vonnegut ]

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President-Elect Holds First Press Conference 11/7/2008President-elect held his first press conference since being elected, and used the opportunity to talk about his plan moving forward, including reassuring Americans that he'll address the worsening economy. (Nov. 7)
http://online.wsj.com/video/president-e ... 86D68.html
Is Obama Using Senior Advisers as a Prop or a Crutch?
By JIM MCTAGUE
The president-elect needs to step away from his gray eminences.

IMAGINE A FOOTBALL LEAGUE where the quarterback carefully sought advice from each of the other players in the huddle before deciding on the play.

That's the model that President-elect Barack Obama seems to employ before every major speaking engagement. He does not utter a word without making it clear to the general public that he is first seeking the counsel of one of his colleges of cardinals.

There were 19 advisers from the world of finance and politics with him in Chicago on Friday when he gave his first post-election press conference. Many in the group were distinguished, like Paul Volcker, the former Federal Reserve Chairman who saved us from the demons of inflation; and Robert Rubin, who overall was a great Treasury Secretary.

Some of the others struck me as outlandish sources for counsel given the sad state of the economy. Jennifer Granholm, Michigan's governor, is hardly a poster child for enlightened economic stewardship. Her state's high taxes have cost it as many jobs as nonunion competition from states like Indiana. But her presence underlined Obama's message that he's keenly sensitive to the automobile industry's plight.

But William Donaldson will go down in history as one of the least attentive chairman ever at the Securities and Exchange Commission. During his "watch," the SEC permitted Wall Street brokerage houses to employ leverage of as high as 40 to 1, which helped magnify their losses this year when the global credit market collapsed.

Obama seems to believe we have more faith and confidence in him when he is surrounded by a pack of gray-headed eminences. It's almost as if the intellectual gang serves as a security blanket, for us and for him.

Consider the staging of Obama's press conference: He stood before eight American flags. The President usually does with two as a backdrop when he speaks in the Rose Garden or in the James Brady press room. Clearly Obama wants us to know he's a patriot. Obama also made a backdrop of his advisers. It reminded me at first of Greek drama with a chorus at the ready to chime in for the hero should he stumble.

At some point our president-elect must break this pattern of contrived dependency on his army of older sages and begin to demonstrate that he is in fact thinking for himself.

George Bush, who once boasted of his counsel from Rumsfeld and Cheney, discredited the sage model for all time. Americans no longer draw any comfort or confidence from it. I expect they want a president who leads rather than follows.

Mr. Obama, tear down your wall.



http://online.barrons.com/article/SB122 ... usives_top

[toutisf]

Obama is just a puppet working for the same old group of people who just want someone with a fresh new look to mop the floor of the mess they've created.

Not only economically nothing will really change but I am VERY suspicious of his foreign policy as we can now clearly see zionists are going to be stronger than ever around him (he has even more extremist jewish people around him than Bush! )

Look at the people around him please and tell me WHERE is the change?

The guy is just a lawyer with 2 years as a senator. Sure he talks nice then what?

I cannot care less if he is white or black or from the moon: he will do whatever THEY tell him to do.

Most obamaniacs would really make me laugh if the consequences wouldn't be so tragic.

And the possibility it would have been worse with Mac Cain changes nothing.

By the way this election was so funny as most people don't realize the republicans really wanted to loose and did everything to loose because the big guys behind them wanted democrats and Obama to mop the floor.

It is much much easier to ask peoples to consent to huge sacrifices with an Obama kind of guy than a MacCain and the plutocracy here knows that very well.

On a side note, it is not any better anywhere else

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To Prevent Bubbles, Restrain the Fed
http://online.wsj.com/article/SB122688652214032407.html
Gold Standard

[defio70]

Obama Policy Good for Gold
http://www.theaureport.com/cs/user/print/na/1937

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Obama Policy Good for Gold
http://www.theaureport.com/cs/user/print/na/1937

Obama adviser: Short selling must be disclosed
Ambiguous rules limiting naked short selling must be clarified, attorneys say
http://www.marketwatch.com/news/story/s ... siteid=rss

[defio70]

Obama Says Deficit Likely to Approach $1 Trillion
http://jessescrossroadscafe.blogspot.co ... elect.html

Stimulus packages are panic policy and inflationary
http://arabianmoney.net/2009/01/07/stim ... lationary/

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Bernanke: You Say ‘Quantitative Easing,’ I Say ‘Credit Easing’
http://blogs.wsj.com/economics/2009/01/ ... it-easing/


<... Barack Obama is tempted to follow the socialist tendencies of his predecessor, he will have to think, not in terms of a trillion dollars, but multiple trillions of dollars in economic stimuli.
If Obama fails to hold the difficult political line against socialism, the amount of government debt is set to explode. This will drive treasury prices through the floor, setting off one of the largest financial bear traps in history...>
http://www.pittsburghlive.com/x/pittsbu ... 06452.html