Nothing he’s doing works…plain and simple.
"Since last November, the U.S. Federal Reserve has been buying U.S. Treasury bonds at a rate of about $75 billion a month. That’s part of Fed Chairman Ben S. Bernanke’s “QE2” program, under which the central bank was to buy $600 billion of the government bonds.
But QE2 ended yesterday (Thursday), meaning the Fed will no longer be a big buyer of Treasury bonds.
So starting today (Friday), the U.S. Treasury needs to sell twice as many Treasury bonds to end investors as it had been.
But the problem is, who’s going to buy them?
Not China, which is diversifying its trillions in assets to get as far away from the U.S. dollar as fast as it can.
Not Japan, which is trying to rebound from its March 11 earthquake, tsunami and nuclear disaster - and is focusing all its spending on reconstruction.
And - as we’ve seen -neither is the Bernanke-led Fed.
With unemployment at 9.1% (LOL at the ‘official’ figure) and interest rates set to rise, the economy will REALLY tank.
Should he admit failure and just accept his fate?[/quote]
Funny you would post this. I was talking to a friend of mine who voted for Obama (I know friends don’t let friends vote democrat). And he said that he will probably vote for him for a second term. I was shocked because I feel as you do that Obama is an abject failure. But he put a spin on it and convinced himself that Obama deserves reelection. He said that the guy is tough on terrorism because of Bin Laden’s death. And that he’s kept the crazy’s in check, N. Korea, Iran, etc. And loves what he’s doing in Libya.
As for the economy he said that since he inherited a mess it will take him two terms to dig out.
So there you have it. And this guy isn’t the typical 20 year old Obama lacky you see on T Nation. He has a degree from a prestigious university is 45 years old and does pretty well for himself.
Go figure huh?
I’ve been predicting, Obama will get a second term. There are millions of people who just don’t see the disaster that others see. And, which is always my final question, who beats Obama in a general election?
It will always come down to the specific candidate and the sort of campaign that he or she can run. But right now Obama is the favorite to win the White House once again, so don’t kid yourself.