Paper Economy - A US Real Estate Bubble Blog: Question(s) of The Day

Thursday, November 06, 2008

Question(s) of The Day - What's Obama Got Cooking?

What’s Obama got cooked up?

Obviously there will soon (very likely today) be some announcements coming out of the Obama pre-administration targeted towards shoring up confidence with Wall Street and Main Street… what’s coming?

Treasury Secretary announcement? Actual proposed policy announcements?

Will it work?

Labels: announcement, economy crisis, Obama, recession, stock market crash

5 Comments:

I bet Obama doesn't know what he's going to do, and he'll keep it vague until after January.

I hope the new govt don't respond by strengthening labor unions and propping up companies like GM. It's a political temptation, especially for Democrats.

I do expect truly awesome deficits, and lots of pork-barrel and bloat in the name of supporting the economy. I just hope it sunsets.

The whole western world is like Argentina in the 1950s right now.

By Dagger, at 2:30 PM
Dagger,

Doesn't is seem like Obama has to have some significant announcement?

I don't even think a Treasury secretary announcement is sufficient.

To me it seem like he needs to do something significant or else it may be judged to be a freshman blunder right out of the shoot... somewhat squandering the current national sense optimism.

Between now and inauguration (immediately I think) it seems to me that he needs to detail some sort of plan that will direct his current optimistic tide directly in the direction of the economic crisis.

I'm not talking health-care or other typical blather... I'm talking a real categorical policy path that is different from the Bush administration... something fresh .. maybe there is nothing...

By SoldAtTheTop, at 3:03 PM
Another excellent that I read
Jesse's Cafe Americain.
had this piece.
It's worth a read.
http://jessescrossroadscafe.blogspot.com/2008/11/obamas-priorities.html

By static, at 3:34 PM
Great article Static. Thnx.

I expect the incoming admin will announce things like:

1. We are starting a public-works program to repair and improve infrastructure.

2. We are starting a massive Federal project to research alternative energy, and to build wind and solar farms, and to improve the transmission grid. Let's hope there isn't any mention of ethanol or "hydrogen" powered cars.

3. The Federal govt is prepared to give zillions to the states to "invest in schools and education".

4. The Fed govt is looking into changing banking laws to allow more oversight.

So I expect a lot of stimulus and maybe a little tough talk.

I don't expect Larry Summers or Laura Tyson or whoever it is to announce that we're going to limp along and play it by ear and keep bailing out banks as necessary. But I think that's gonna happen.

I fear there may be more bailouts for individual mortgage holders. Unless someone comes up with a way to do this without rewarding reckless behavior.

But I don't know what to hope for. I don't even know what I'd do (except ask you for advice).

By Dagger, at 4:08 PM
dagger

"I fear there may be more bailouts for individual mortgage holders. Unless someone comes up with a way to do this without rewarding reckless behavior.

But I don't know what to hope for. I don't even know what I'd do (except ask you for advice)."

dagger, no one knows, I surely don't know what is gonna happen.
I know one thing though, "Job is number 1" (for those of us who are not financially independent)
I have "next to nothing" debt,
but I need my job. I have tried to position myself for this very scenario that we are facing and going to face. I hope, like you, that somehow we get through this mess.
I guess we wait and see, what else?
Keep your powder dry.

I'll be singin bout that "Red House" over yonder, if the price comes down enough.

http://www.youtube.com/watch?v=wtDLLkp8pGM

static

By static, at 10:56 PM