Comments on: Goldman Sachs forecasts nightmare 2010 economic scenario for Dems http://blogs.reuters.com/james-pethokoukis/2009/11/20/goldman-sachs-forecasts-nightmare-2010-economic-scenario-for-dems/ Politics and policy from inside Washington Sun, 07 Apr 2013 21:23:48 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: Brad Templeman http://blogs.reuters.com/james-pethokoukis/2009/11/20/goldman-sachs-forecasts-nightmare-2010-economic-scenario-for-dems/comment-page-1/#comment-4855 Brad Templeman Sun, 22 Nov 2009 20:46:41 +0000 http://blogs.reuters.com/james-pethokoukis/?p=2691#comment-4855 Their only argument will be that things would have been worse if they hadn't been in charge. How well will that go over? Their only argument will be that things would have been worse if they hadn’t been in charge. How well will that go over?

]]> By: Not_American http://blogs.reuters.com/james-pethokoukis/2009/11/20/goldman-sachs-forecasts-nightmare-2010-economic-scenario-for-dems/comment-page-1/#comment-4854 Not_American Sun, 22 Nov 2009 20:12:46 +0000 http://blogs.reuters.com/james-pethokoukis/?p=2691#comment-4854 So you bash Goldman in one post, and two posts later you are holding up their word as gospel. It doesn't take a genious to see that the first two quarters of 2010 will be ugly and a real recovery timeline looks like 4-5 yrs minimum (ie 2015). It's not a dem or rep issue, it's just what it is. Blame game doesn't help - it actually hurts because it ties the hands of gov't from doing what it thinks is right to do what the public thinks is right. Given that the average household has higher debt ratio than gov't, the idea of giving in to populist pressure is cowardly, and it's the gameplan of reps - and is forcing the hand of dems trying to stay in power. If you want a strong solution that will ensure a healthy recovery, it's gotta be bi-partisan and there has to be the expectation/realization that it will take time (years) to play out. Dumping on Obama alone for saving what most believed would be a depression and not turning it into robust growth in ten months... WOW, get your heads checked. You can argue about what you'd like to see happen next, but it's hard to listen to you bashing going from depression to growth in less than a year. I've read you love the tricle down effect from tax cuts to small businesses, but it's safe to say that any kind of effect from that trickle down is at least two years in the making; I think that's why they chose to prop up the banks and come up with the poor stimulus, because it would play out sooner then that. Just a thought, but I think Timmy the Kid was scared out of his mind about banks failing and that's why he jumped on saving them. And as for the tough love and jacking Fed rates now and forcing the value of the USD... it really doesn't help anyone besides the Chinese. And pardon me for saying, but they've been anything but cordial considering the unique relation between your two nations. Free trade moved too fast and didn't give America time to alter it's economy properly. Also wanted to add that Americans should probably expect some serious service cuts next year a la California in an effort to bring down the deficit. Tax revenues won't be higher and I'd expect around $500B of cuts. OUCH! It won't be pretty and there will be a lot of angry people. Bottomline is this administration is in a no-win situation and should embrace it and just do what's right, to hell with re-election pressures. If America had more politicians interested in doing right than dancing for their constituents at election time, one could actually see impactful changes that will help the country rather than meaningless fluff that does nothing. Wow, I really rambled! Oh well, just some ideas I wanted to put out there. So you bash Goldman in one post, and two posts later you are holding up their word as gospel. It doesn’t take a genious to see that the first two quarters of 2010 will be ugly and a real recovery timeline looks like 4-5 yrs minimum (ie 2015). It’s not a dem or rep issue, it’s just what it is. Blame game doesn’t help – it actually hurts because it ties the hands of gov’t from doing what it thinks is right to do what the public thinks is right. Given that the average household has higher debt ratio than gov’t, the idea of giving in to populist pressure is cowardly, and it’s the gameplan of reps – and is forcing the hand of dems trying to stay in power. If you want a strong solution that will ensure a healthy recovery, it’s gotta be bi-partisan and there has to be the expectation/realization that it will take time (years) to play out. Dumping on Obama alone for saving what most believed would be a depression and not turning it into robust growth in ten months… WOW, get your heads checked. You can argue about what you’d like to see happen next, but it’s hard to listen to you bashing going from depression to growth in less than a year.

I’ve read you love the tricle down effect from tax cuts to small businesses, but it’s safe to say that any kind of effect from that trickle down is at least two years in the making; I think that’s why they chose to prop up the banks and come up with the poor stimulus, because it would play out sooner then that. Just a thought, but I think Timmy the Kid was scared out of his mind about banks failing and that’s why he jumped on saving them.

And as for the tough love and jacking Fed rates now and forcing the value of the USD… it really doesn’t help anyone besides the Chinese. And pardon me for saying, but they’ve been anything but cordial considering the unique relation between your two nations. Free trade moved too fast and didn’t give America time to alter it’s economy properly.

Also wanted to add that Americans should probably expect some serious service cuts next year a la California in an effort to bring down the deficit. Tax revenues won’t be higher and I’d expect around $500B of cuts. OUCH! It won’t be pretty and there will be a lot of angry people. Bottomline is this administration is in a no-win situation and should embrace it and just do what’s right, to hell with re-election pressures. If America had more politicians interested in doing right than dancing for their constituents at election time, one could actually see impactful changes that will help the country rather than meaningless fluff that does nothing.

Wow, I really rambled! Oh well, just some ideas I wanted to put out there.

]]> By: Bob Sykes http://blogs.reuters.com/james-pethokoukis/2009/11/20/goldman-sachs-forecasts-nightmare-2010-economic-scenario-for-dems/comment-page-1/#comment-4833 Bob Sykes Sat, 21 Nov 2009 13:13:47 +0000 http://blogs.reuters.com/james-pethokoukis/?p=2691#comment-4833 Obama and the Dems are trying to install European Socialist economics in the US. If they succeed (as is likely), we will get European style unemployment rates. This means 10 to 15% overall and 20 to 30% unemployment among young people. Goldman Sachs' prediction for next year is a floor not a peak. Obama and the Dems are trying to install European Socialist economics in the US. If they succeed (as is likely), we will get European style unemployment rates. This means 10 to 15% overall and 20 to 30% unemployment among young people. Goldman Sachs’ prediction for next year is a floor not a peak.

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