This page has been archived and commenting is disabled.

Listen To Obama Convey The Teleprompter's Latest Thoughts On The Economy And Jobs

Tyler Durden's picture




 

Yep. It's that time again. Sorry, just audio this time.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 08/11/2011 - 14:50 | 1551655 DonnieD
DonnieD's picture

I thought he was on vaca with the fam.

Thu, 08/11/2011 - 14:59 | 1551685 flacon
flacon's picture

 

 

When will the people wake up and realize that GOVERNMENT has no ability to "CREATE PRODUCTIVE JOBS"?

 

We just want the government to enforce full-reserve, debt-free money, and then get out of the way. 

Thu, 08/11/2011 - 15:02 | 1551694 flacon
flacon's picture

"Government needs to INVEST Roads, airports and sea-poarts". 

GOVERNMENT HAS NO ABILITY TO "INVEST" IN ANYTHING. What the hell is he smoking?! 'Invest' MY ASS!!!!

Thu, 08/11/2011 - 15:12 | 1551718 Greater Fool
Greater Fool's picture

Who, easy on the caps lock key there, fella.

The idea, I gather, is that building infrastructure leads to more economic activity which leads to enough additional tax revenue to justify the expense. Our representatives, Republican and Democrat, seem to believe in this strategy so strongly that they've levered us up to carry it out.

It sounds good, but I'd say that performance so far has not been very convincing.

Thu, 08/11/2011 - 16:25 | 1551962 Kat
Kat's picture

That's the idea.  However, there's no evidence that when GOVERNMENT builds the roads, that we don't overpay for them. 

Also, are we really in recession because we have third world infrastructure where we can't drive our trucks from one location to another?  I don't think so.

This is just another government boondogle where they desperately want us to believe that the Keynesian multiplier is not a fraction (despite all evidence everywhere where Keynesianism has been tried). This works great for politicians because they get to spend your money to buy votes in their districts.

I think most of us here understand the scam.

Thu, 08/11/2011 - 20:16 | 1552617 ping
ping's picture

+ 1 million internet points.

Thu, 08/11/2011 - 15:18 | 1551732 MillionDollarBonus_
MillionDollarBonus_'s picture

That is quite a shocking comment when our government has just navigated us through one of the worst financial crisis in all of history. I am horrified to see so many childish, immature libertarians criticise economic policies that they clearly don't understand. Under the guidance of top nobel-prize winning economists, our government has saved the economy from complete destruction through monetary and fiscal stimulus. I know it's complex for most of the ognorant doomers to understand but the logic is summarized as follows: "more monetary stimulus = more consumption = more service sector job growth".   

Thu, 08/11/2011 - 15:31 | 1551754 FLIP THAT BOND
FLIP THAT BOND's picture

Sweet, I don't want to produce anything..I'd much rather be serviced more.  Stimulate on...

Thu, 08/11/2011 - 15:46 | 1551785 SMG
SMG's picture

"more monetary stimulus (Robbing the savers blind)  = more consumption ($7.00 gas and $20 a loaf bread) = more service sector job growth (food stamp card processors)"

You are correct, brilliant equation

Thu, 08/11/2011 - 20:20 | 1552626 ping
ping's picture

@ MillionDollarBonus_ 

This is an epic troll, right? A few posts from now you'll go 'Ah! Gotcha!' and we'll all laugh about it. That's got to be it.

You work in the public sector? Or not at all?

Spacca.

Thu, 08/11/2011 - 20:20 | 1552628 knowless
knowless's picture

you win

Thu, 08/11/2011 - 16:21 | 1551942 Kat
Kat's picture

AMEN, brother!

Incredible economic illiteracy. 

Jobs are created when the addition of an employee creates more wealth than you pay him.

Otherwise, you're just flushing money down the toilet and calling it a "job".

Although, I think the government can indirectly create jobs by GETTING THE HELL OUT OF EVERYONE'S WAY.

All the idiotic red tape and totally useless regulation creates a drag on the economy something on the order of 25-30% of GDP.  Astonishing.

Thu, 08/11/2011 - 14:50 | 1551656 Greater Fool
Greater Fool's picture

Ah, another trip to the verbigerator.

Thu, 08/11/2011 - 14:51 | 1551659 fuu
fuu's picture

Is there another auction tomorrow? I don't have the current schedule handy.

Thu, 08/11/2011 - 14:53 | 1551664 moldygoat
moldygoat's picture

go short now

Thu, 08/11/2011 - 14:54 | 1551665 HUGE_Gamma
HUGE_Gamma's picture

"and if you donate $50 or more right now, well even send you a free campaign mug made by our good friends in China"

Thu, 08/11/2011 - 14:57 | 1551679 EvlTheCat
EvlTheCat's picture

lol

Thu, 08/11/2011 - 14:55 | 1551668 ElvisDog
ElvisDog's picture

He's all fired up today. As usual, though, just meaningless rhetoric and big picture crapola about how hard-working the American people are. Nothing specific, nothing tangible.

Thu, 08/11/2011 - 14:55 | 1551670 bigdumbnugly
bigdumbnugly's picture

didn't i just listen to this blamefest a few times last week?

and the week before, and the week before?

etc.  etc.

Thu, 08/11/2011 - 14:57 | 1551676 Betty Swallsack
Betty Swallsack's picture

This calls for a group eye roll.

Thu, 08/11/2011 - 14:57 | 1551678 TrafficNotHere
TrafficNotHere's picture

Typical of the telepimpter in chief. Blames the "other side" who were "unwilling to compromise" lead to the S&P downgrade. Moron. What about his lack of compromise that any solution which did not raises taxes was off the table.

Thu, 08/11/2011 - 14:58 | 1551681 AldoHux_IV
AldoHux_IV's picture

I'm reminded of the wise words/lyrics from Stevie Wonder in the song titled "You Haven't Done Nothin'".

Thu, 08/11/2011 - 15:15 | 1551682 Azannoth
Azannoth's picture

Guess the answer win a prise!

The President's background is ?
(Hint notice the orathorical skills)

a) Vacumecleaner salesman
b) Used Bible salesman
c) Pimp
d) Community-organizer
e) Teleprompter handy-man

Thu, 08/11/2011 - 15:23 | 1551742 Mactheknife
Mactheknife's picture

I know, I know!! It's a trick question..right?  It's f) All the above.

So, what did I win?

Thu, 08/11/2011 - 15:53 | 1551805 ex VRWC
ex VRWC's picture

4 more years....

Thu, 08/11/2011 - 20:27 | 1552650 ping
ping's picture

@ Azannoth.

Ooh! Ooh! I know this one! Obama's a dog-botherer! Reaches his hand right around and has a good rummage. Tempts them with dog biscuits and promises of walkies, then 'bam!', action time. Long legged mac daddy fun has never been so hairy.

Do I win a prize? I want a signed poster of Pelosi bathing in virgins' blood. Or a 'whAt I dId wen PreSIdunt onlee duh bad wyte peepul got in da way' essay from Obama. 

 

Thu, 08/11/2011 - 14:59 | 1551686 bigdumbnugly
bigdumbnugly's picture

same blame game

lame

Thu, 08/11/2011 - 15:00 | 1551688 Jonas Parker
Jonas Parker's picture

Silence is golden... Obama's verbage is valueless. When will someone on his staff just sit Bozo down and tell him to STFU?

Thu, 08/11/2011 - 14:59 | 1551689 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Jesus - murdered; Martin Luther King - murdered; Malcolm X - murdered; Gandhi - murdered; John Lennon - murdered; Reagan... wounded; Obama... lov'n the golfing life.

Thu, 08/11/2011 - 15:17 | 1551730 EvlTheCat
EvlTheCat's picture

Are you volunteering or just producing more written
diarrhea? Between you and unAnonymous I don't know who is the bigger mouthed hypocrite!!

Thu, 08/11/2011 - 18:55 | 1552432 Incubus
Incubus's picture

I'll take that title.  I like titles.  Anything to distinguish me--my ego rests upon distinguishment.

 

And here's some tittles for you, bitchez:  iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiijjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjjiiiiiiiiiiiiiiiiiiiiiiiii

Thu, 08/11/2011 - 20:32 | 1552673 ping
ping's picture

Sarcasm aside, you've got a point. How the hell hasn't some dude who's lost everything decided to cap this CIA-Wall Street shill? The Mac Daddy's ruined so many lives, I can't believe some newly homeless poor bastard hasn't taken some pot shots at him. 

Note to the douches at the FBI: I'm neither encouraging violence not threatening it. I'm honestly bemused no-one's tried to take a potshot at the worst president in US history. (You monitor the net, right? Aren't people pissed? So it's pretty amazing no-one's tried to do-in this guy.)

Thu, 08/11/2011 - 15:03 | 1551691 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

He sounds desperate.

Jobs Program

It could be as early as this week, but before Bernanke utters the words 'continued easing', there will be a proposal put forth by President Obama to have a quote, 'Jobs Program'.

Continued at the link below....

http://lhmarketwatch.blogspot.com/2011/08/jobs-program.html

Thu, 08/11/2011 - 15:00 | 1551692 Spastica Rex
Spastica Rex's picture

ROAD CONSTRUCTION BILL WILL SAVE US!!!!!!!!!!!1!!1!!!!

Thu, 08/11/2011 - 15:16 | 1551725 Mactheknife
Mactheknife's picture

That's the ticket...now we're talkin...LMAO

Thu, 08/11/2011 - 15:36 | 1551766 SokPOTUS
SokPOTUS's picture

Wait...I thought cars were evil.  Crap.  I'm so confused.

I thought O'blame-a was in favor of High-Speed Fail Projects?

 

Thu, 08/11/2011 - 15:02 | 1551695 Sudden Debt
Sudden Debt's picture

I think now he's at martha's v. he's yet again 1 step closer to the common people.

I think it that which inspired him to give his view on the real world.

Thu, 08/11/2011 - 15:02 | 1551697 Long-John-Silver
Long-John-Silver's picture

Is this a repeat of a prior speech?

Thu, 08/11/2011 - 15:06 | 1551700 baby_BLYTHE
baby_BLYTHE's picture

he just keeps saying the same thing over and over yet nothing ever happens. What a joke.... it will just keep going on until the whole system collapses, that will be the end

Thu, 08/11/2011 - 15:08 | 1551705 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The term 'Big Brother' was never so apropos.

Thu, 08/11/2011 - 15:07 | 1551702 flacon
flacon's picture

He's talking about "everybody has to chip in because THAT'S FAIR!"

Hey Mr Osama, can I choose to OPT OUT and CHOOSE NOT TO BE TAXED? ... I thought not... F-U!

Thu, 08/11/2011 - 15:38 | 1551771 SokPOTUS
SokPOTUS's picture

Sure you can!  Just sit home and do nothing.  Most of your fellow citizens do that these days, and they pay no taxes.

You really need to get with the program.

 

Thu, 08/11/2011 - 15:07 | 1551704 sbenard
sbenard's picture

Apparently, the minions at the Wall St Pollyanna Party like the Teleprompter Tyrant this time!

Thu, 08/11/2011 - 15:09 | 1551706 km4
km4's picture

Did he mention the $53 Billion monthly trade deficit ?

This guy is a pretender clown !

Thu, 08/11/2011 - 15:10 | 1551710 Long-John-Silver
Long-John-Silver's picture

America is Doomed. It's not going to make it to 2012.

Thu, 08/11/2011 - 15:12 | 1551717 baby_BLYTHE
baby_BLYTHE's picture

correct. and as I said earlier...

The FED is going to blow itself to pieces before Bernanke's second term as chairsatan expires.

This is not sustainable, it is the true bubble in this economy:

Thu, 08/11/2011 - 15:11 | 1551714 flacon
flacon's picture

Hey Obama, can we hold Ben Bernanke ACCOUNTABLE? 

 

Oh. that's the end of his speech. Gotta go get them barbecue burgers on the grill?

Thu, 08/11/2011 - 15:13 | 1551720 Negro Primero
Thu, 08/11/2011 - 15:21 | 1551721 sbenard
sbenard's picture

Hey Emperor Obama, there is nothing FAIR about coveting and stealing on a societal scale. Tyranny is his trade! Progressivism IS tyranny!

To the Emperor, fairness is that one small group gets to fund endless free government gifts for eternity, all at the point of a government gun. what kind of diabolical thinking uses FORCE to "entitle" the whole population? It creates a sense of "entitlement" in everyone, with only productive people being compelled to pay for the entire population. I'd rather have the opportunity to BE or BECOME part of that group rather than to steal from it. Even the huge midddle class now feels entitled!

Redistribution of wealth is TYRANNY disguised as charity because it's based on FORCE, not LOVE! That's the very definition of tyranny -- FORCE! it says something fundamental about Obama, is character, and progressivism that they feel justified in using coercion to acheive their goals. In progressivism, the end always justifies the means. That's straight out of Satan's play book!

John Galts of the earth unite and go on strike!

Thu, 08/11/2011 - 15:16 | 1551729 Joebloinvestor
Joebloinvestor's picture

He has already proved he is irelevant, now all he has to do is fade into obscurity.

Thu, 08/11/2011 - 15:40 | 1551778 SokPOTUS
SokPOTUS's picture

Not until he takes us with him.  Did you miss the memo?

Thu, 08/11/2011 - 15:21 | 1551739 bania
bania's picture

markets are up, looks like they can take away the sign now...

http://www.surfline.com/surfnews/images/2008/06_june/shark_update/full/sign.jpg

Thu, 08/11/2011 - 15:21 | 1551740 sbenard
sbenard's picture

Wall St LOVE the man! They feel "entitled" to feed at the taxpayer trough too!

Thu, 08/11/2011 - 15:32 | 1551756 Catullus
Catullus's picture

On a more engaging note:

http://jessescrossroadscafe.blogspot.com/2011/08/great-flaw-in-free-trad...

Jesse is out with another statist apologia to try to convince people that commonly refuted theories in economics is somehow a justification for the state to continue to plan and run everyone's life. But not too much, that would be totalitarianism. You see, you can't take these things called "universal truths of human behavior" to attempt to describe human behavior. You have to realize the world is more complicated than that. I don't care that division of labor can be applied to the entire planet, if you don't have government intervening, then the government can't intervene to show how "free trade" is a failure. It's like the efficient market hypothesis, except only [insert social 'misfit' name calling exercise] believe the world can prosper through peaceful exchange of property. That doesn't make common sense; they form monopolies and create fraud. None of this happens when you have government planning and ensuring justice by strip searching you at an airport. Anyway, there should be a gold standard because government would willfully constrain itself by not being allowed to overspend.

Like some of his stuff, but the "middle road" is the compromised road to totalitarianism. It's why no one is any longer a Friedmanite.

Thu, 08/11/2011 - 15:36 | 1551767 hunglow
hunglow's picture

must=not=say=anything

Thu, 08/11/2011 - 16:10 | 1551871 Peter K
Peter K's picture

Why bother. Just spoiled a perfectly pleasent evening:(

Thu, 08/11/2011 - 16:14 | 1551896 markar
markar's picture

spewed swill of the day:" unemployment benefits could create a million jobs" Carney, WH spokesperson

Thu, 08/11/2011 - 16:35 | 1552012 BoNeSxxx
BoNeSxxx's picture

 

This simplistic analogy makes it a little easier to understand why Standard & Poor’s would think to downgrade the US’s AAA credit rating.

U.S. income: $2,170,000,000,000  

  • Federal budget: $3,820,000,000,000
  • New debt: $ 1,650,000,000,000
  • National debt: $14,271,000,000,000
  • Recent budget cut: $ 38,500,000,000 (about 1 percent of the budget) 

Now think about these numbers in terms that we can relate to. Remove eight zeros from these numbers and pretend this is the household budget for the fictitious Jones family:

  • Total annual income for the Jones family: $21,700
  • Amount of money the Jones family spent: $38,200
  • Amount of new debt added to the credit card: $16,500
  • Outstanding balance on the credit card: $142,710

Amount cut from the budget: $385

 

 

Thu, 08/11/2011 - 21:42 | 1552885 Die Weiße Rose
Die Weiße Rose's picture

I don't really care what way the market goes, as long as there is high Volatility

we are all HFT Day Traders now ;)

but I will make a prediction about the upcoming 2012 US Presidential election :

after the upcoming good-bad-ugly crash and world Recession

America's choice for 2012 President will be:

Texan Governor Rick Perry

http://www.governor.state.tx.us/

he looks a bit like Clint Eastwood or Ronald Regan and he is a Texan

and even though it does not really matter who wins,

I predict that Americans will pin all their hopes on this man from the Bush camp ;)

Do NOT follow this link or you will be banned from the site!