T Nation

Obama: Economic Crisis 'Not as Bad as we Think'

WHEW! I was just headed out to the store to stock up on toilet paper, kerosene, cans of tuna and band-aids until I read that one. Looks like armageddon won’t be rearing it’s ugly head after all! Oh well, guess I’ll go blow my survival money on beer and lotto tickets! WHOO HOO!

[quote]skaz05 wrote:

WHEW! I was just headed out to the store to stock up on toilet paper, kerosene, cans of tuna and band-aids until I read that one. Looks like armageddon won’t be rearing it’s ugly head after all! Oh well, guess I’ll go blow my survival money on beer and lotto tickets! WHOO HOO![/quote]

Hahaha!

He made a general statement that people particularly the media often exaggerate at both ends of the scale - fair enough this is true.

However in this case he is being naive because it’s still not clear when this thing is going to bottom out, is he saying we have reached the bottom? It’s still not clear how much exposure to toxic debt some of these banks have -

Citi just posted a profit and yet they cannot confirm their debt exposure and the banks have not started lending again, statements like these can could come back to haunt him.

Ahh, thanks! I was hoping to end my week on yet another obama the clown stupidity…How the fuck will private enterprise “do it’s magic” when the government has got its fingers in there? He has made no provisions to remove the government involvement meaning these moves to intertwine government with the private sector is permanent. They won’t be able to move with out approval. What an idiot…To early to impeach and remove?

[quote]skaz05 wrote:

WHEW! I was just headed out to the store to stock up on toilet paper, kerosene, cans of tuna and band-aids until I read that one. Looks like armageddon won’t be rearing it’s ugly head after all! Oh well, guess I’ll go blow my survival money on beer and lotto tickets! WHOO HOO![/quote]

FUCK YEAH! BADASS! fires a couple shotgun rounds in the air Already ahead of you partner! The pig is just reapplying its lipstick, the economy is still in the dumps.