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Guest Post: White House: Recovery to take years
Submitted by Kurt Brouwer of Fundmastery Blog
White House: Recovery to take years
White House Press Secretary Robert Gibbs made a rather startling
statement in a press briefing on September 21st. He acknowledged that
the economy is bad and he further stated under questioning that the
recovery would take several years.
I wonder why this did not get reported far and wide? The only report I’ve seen on this came from the conservative news source, CNS News [emphasis added]?
White House Press Secretary Robert Gibbs said
at Tuesday’s White House press briefing that the economic recovery “is
going to take an enormous amount of time,” and when asked to clarify
what that meant, he said, “it’s going to take several years.”…At Tuesday’s briefing New York Times reporter Sheryl Gay Stolberg
asked Gibbs whether the president thinks “people are simply frustrated
at the state of the economy, or does he think that they are frustrated
with him personally and his handling of it?”“I don’t doubt that people are frustrated that the pace of our
economic recovery has not been faster under the president’s watch,” said
Gibbs. “But what is undeniable and that you heard the president
reiterate yesterday is if you look at where we were and look at how far
we’ve come, we’ve not come as far as the president would like–not by a
long shot–but we’re adding jobs: eight months of private sector hiring,
positive economic growth. Again, all of which is going to
take–this is going to take an enormous amount of time. No one in this
administration ever said that this was going to be easy or that it
wouldn’t take some time.”Later in the briefing, Steven Thomma of McClatchy news asked Gibbs to specify what he meant by an “enormous mount of time.”
“On the economy,” said Thomma, “you said earlier this is going to take an ‘enormous amount of time.’ How long?”
“Well,” said Gibbs, “I think it’s going to take several years
from–I think getting through a recession as deep as the one that we
were faced with, the sheer amount of job loss, the shock to the system,
shock to our financial system, the change in our housing market. We’re
dealing with, in many ways, if you look at what happened and what
cascaded downward all at a certain period of time, you’re dealing with
sort of the perfect storm.”Neither The New York Times nor McClatchy reported on Gibbs comments regarding the pace of the economic recovery…
I went to the White House web site and found the press briefing for
September 21 and it includes these passages. The link to the briefing
is here.
The question from the New York Times reporter is about 60% of the way
through the briefing and the McClatchy reporter’s question is about 90%
of the way through.
One would think this news — coming at the tail end of the so-called ‘Recovery Summer’ would be newsworthy.
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ENDLESS SUMMERS
http://williambanzai7.blogspot.com/2010/09/endless-summers.html
That's a very good job, but it's not jowly enough for Larry Summers. He's got all that chin flab goin on.
Was Summers replaced by Rosenberg?
thats very funny
Rosie never mused why women didn't do "x". Nor (to our knowledge) did he get excoriated for asking the question of an hysterical questioner.
Summers, well, had some humorous interactions.
lmao thinking that Rosie (who was fired for no happy talk) could work for Our Dear President.
good try, though.
- Ned
Gibbs and the Obama admin. are in recovery from a two year hangover of drunkeness off of liger piss.
no recovery, not in sight.
What fire?
the fire in the comex vaults.
Several years for certain values of "several".
If they are already admitting to several years then they already understand it will be 10 years or more.
He's right... but a recovery won't be in the cards until the US leadership stops playing the UN's agenda. Start making changes that will rebuild America. Even if the US makes the tough choices this isn't the same America that built itself into a manufacturing giant in the 50's... very little chance.
This recovery is going exactly as planned, suck the money from the U.S. redistribute to the rest of the world. You must rember Obama has said over & over spread the wealth. He's surronded by & works for a bunch NWO commies. And that is a fact.
you'll get no argument from me.... the commies think they will win when America folds ... wrong!!
I guess you didn't get the memo. Communism is like soooo last century.
We're no longer fighting commies. It's a lot worse than that. We're up against bankers.
Central bankers, the worst kind. You and a Remington don't go too far.
farther than me & no Remington... Call it what you want to, in short the people running the show don't give a flyin fuck about me or you, & even more so once they have sucked us dry, as you know all to well> So why knit pick every time someone post. I think we all get the picture....
Suck the money from the US and redistribute to the rest of the world?
To buy what? The (rest of the world) own assets?
Because that is the situation: at present times, and considering the emission of credit policies, the USD buys first and mostly only non US citizens' wealth.
Such a big delusion.
Most of US citizens can simply not face what they are truly are so they keep inventing stories.
...back then luckily the special interest groups pulling the strings in D.C. had goals that also benefited the U.S. Today's string jockeys are enemies of the people.
He meant exactly till Obummers 2nd term expires, thats what he meant
April 23, 2010: Vice President Biden predicted Friday at a Pennsylvania fundraiser that the U.S. economy would be adding up to 500,000 jobs each month "some time in the next couple of months."
http://voices.washingtonpost.com/44/2010/04/biden-predicts-economy-will-cr.html
-----------
"In light of the substantial quarter-to-quarter variation in the estimates of job creation, we believe a reasonable range for 2010Q4 is 3.3 to 4.1 million jobs created, " wrote Christina Romer, chairwoman of the president's Council of Economic Advisers, and Jared Bernstein, the vice president's top economic adviser.
http://otrans.3cdn.net/ee40602f9a7d8172b8_ozm6bt5oi.pdf
Biden is the right man for the title ....http://en.wikipedia.org/wiki/Vice
Vice is a practice or a habit considered immoral, depraved, and/or degrading in the associated society. In more minor usage, vice can refer to a fault, a defect, an infirmity or merely a bad habit. Synonyms for vice include fault, depravity, sin, iniquity, wickedness and corruption. The modern English term that best captures its original meaning is the word vicious, which means "full of vice". In this sense, the word vice comes from the Latin word vitium, meaning "failing or defect". Vice is the opposite of virtue.
Several years means never.
In political-speak, it means "not any time while I'm holding office."
Not quite never, but close enough.
I've met several congress-critters in unstructured situations all who have said: "we can promise anything we want, and that's OK, as long as I get re-elected in the next 2 years.
- Ned
Translation: we are praying like hell for signs of life before Nov 2012.
how would they know?
why would they care?
this group spent the first year chasing rainbows and puppy dog tails.
There was the Chicago Olympic Village
Th Noble Peace Prize
The Climate Summit
Heath Care
For the last year they have been acting like my ADD daughter, anything and everything is more important than the economy. Honestly, he get a $787 billion dollar stimulus package for shovel ready projects and then the money does not get spent?
I repeat
How would they possibly know when the depression is going to be over - they dont have the brain power - and the brain power they have is the brain power that started it all. What is worse, the guys that started it never saw it coming.
If they didn't see it coming, how can they possibly see it going?
win-
THEY HAVE THE BRAIN POWER!!! really smart, but, well, not very American
don't cha know.
part of the plan. give them smart and politically astute. then figure out where their plans are going. Then gag. then figure out action.
-Ned
Nah. NYT and Mccootchie are "right" in not reporting the comments, because it don't fucking matter anymore.
It's not whether there's a recovery on not or how long it's gonna take. Wake up, we're sitting in the front row seats of the Theatre of the great decline and fall of the Great American Dream, the American Empire, and we're being held here Against Our Will even though there's nowhere else to retreat, we have no clue as what to do other than Cry for Help Inside, stuck here, whilst being Charged for the whole bloody Spectacle of Watching Ourselves Die.
The Citizenry knows this Country is Bankrupt and o the Banksters are looting the Last Remaining Scraps from the Department of Treasure at the Behest, the Formal Invitation of the Government.
Who cares what the MSM reports anymore, for as John Kerry once stated, the Fourth Estate is the fourth branch of government, the Big Brother Screen on the Streets and In Your Home. NewsSpeak. PropagandaVision in full Skank Enhanced Technicolor.
Fuck the Temporary Viability of the Economy.
The Whole Goddamned Thing is Over.
word.
Exactly- Stay calm people, it's just a ression - the ression is almost over - there is a light at the end of the tunnel.
.
who cares what that puppet has to say anyway.
economy = people + work
this has never been different.
Japan = fewer people every year = less work = economy contracts
USA + immigration = economy expanding
China = "people moving from farms to coastal cities" at 300,000 bodies (Chinese farmers) a month = very rapidly expanding economy (they have an interman migration system that acts like a USA immigration system)
Europe + several countries joining the EMU to get "euro-ized" = expanding economy despite contracting net "people walking around"
So it goes that over literally THOUSANDS of years, the "NET REAL" GDP growth has been in the area of 0.08% (8 tenths of 1%) which is almost precisely the average population growth rate in the worlds most developed economies.
The USA motto: "Import Them--- and GDP will come" is as true today as it was in the infancy of this great country. The economy will grow, and the population is the genesis of GDP growth, not the government, and not deleveraging. Those (stimulus and deleveraging) are short term catalysts to growth whereas personal savings, investment, and net-population growth are the real, true constants of rising GDP over time.
Shawn Mesaros, Pamria, LLC
Debt based growth vs savings based growth?
shawn, China: gotta give the "command economy" props--but it isn't the real local economy. Otherwise, yep, 25MM per year going to the cities, otherwise, well, distruption.
and +1 on get gov't out of the picture.
- Ned
Please pass what you are smoking. This would be true if the parasites weren't sucking the blood out of the economy. Another example of selective perception.
My guess is that you don't get paid to think critically, perhaps just to put a positive spin on things.
Nice try though. Now sell you bullshit somewhere else.
Bloomberg:
“I’m not worried about deflation,” Volcker said today to reporters after a speech at a banking conference in Chicago
I'm not either, Paul.
He personally is not worried about deflation, stagflation, disinflation or yourmomflation.
He's rich. And he's old. Lot's of money and a short runway, no worries about the future.
Something like this?
http://www.youtube.com/watch?v=3Ly5akproBQ
"We're only going to do what works."
Barry Hussein Obama, shortly after his inauguration.
Do? as in hip hop when they are gonna "do" ya!! Obamo is definatly "doin" us.
'
...and since he has never worked a day in his life he doesn't have a clue what to do...he's just another product from the Chicago political machine who has surrounded himself with bright evil doers pursuing the interests of others...all you need do is follow the money and you see who is in charge here.
....and it is not the U.S. citizen.
Isn't this bullish?
yep. just a momentary bit of profit taking....
What is the recovery? Coming back to the previous state? Or people coming to terms with a new normality?
I bet on the second.
Lots of evidence (bailouts up the wazoo, QE2, GM backstop etc) actually points to the former.
We are going back.
Yeah I know. WTF. Must be some kind weed he's smoking over there.
The bailout and others are recent stuff.
They are about to become a new normality.
They were not before.
People will accept it as their new reality. This will be the recovery.
Would somebody put Joe Biden back on!!!! He's the one I wanna hear talkin' 'bout the 500K new jobs each month. Yep, he's the one I wanna hear talkin'.
Recovery implies returning to some past state that was lost. Recover to 2005? Before the securitized debt blew up and the economy was debt saturated? Or 10 years to blow another bubble, that will burst too?
I'm not looking forward to that.
......or recovery means hiding the bullshit in an even deeper hole and recovering it.....somethin' like that....over and over.
Idiots. What kind of "recovery" takes years? The one after a frigging Depression. And yesterday Obama was again pretending he's avoided a Depression and saved the planet. Moron.
While faking it to this degree always puts a leader in their best light. What a sorry assed soap.
Recovery to what?
And/or recovery....
from what
by what
for what
with what
called what
pretended to be what
maybe if we change the numbers enough what
so what what
let them fucking go hungry and be scared what
bankers loot the Dept of Treasure what
a 3 watt bulb future what
I wish just once that such a statement would become the story for the day, instead of Lindsay Lohan failing her drug test (apparently she can't tell the difference between uppers and downers!), or whatever!
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