If you watch the video, you can see the newscaster here, Betty Liu, almost brighten as she announces the GDP only went down 3.8% instead of the 5.5% that was expected. Good news in that the GDP drop was less than expected, but still the worst GDP that we have seen in 27 years. She actually seems optimistic as she starts, but optimism is a bit silly in the face of a nearly 4% drop in GDP, seeing as inventories rose “by about 6,000,000,000” which means that worse numbers will show up in first quarter numbers in three months time. If you exclude those inventories, the drop was 5.1%. Joy.
The futures market numbers immediately shot up on the news that the GDP drop was less than expected, but quickly wore off as people figured out it was still the most precipitous drop in more than a quarter century. Before the day ended the DJIA again dropped below 8,000, but rallied a bit at the end of the day, to finish just above 8,000 points, AT 8000.86, a fall of 148.15 points.
Let’s get political for a minute about this. Listen, you and I both know that the economy is a mess and won’t be fixed for a while, right? Maybe a few years, right? We have a genuine financial crisis on our hands, right? Then why isn’t everyone on board with trying to do something about it? Why are we still splitting this problem up between left and right here in America? Why are there still the Dem/GOP dividing lines? If the parties involved here had a real understanding of what was going on here, we would not have to listen to one side say “well this plan doesn’t work for me and my constituents” or “My Understanding of the problem is….” Why is the me and my still in this debate when we are talking about millions of jobs, trillions of dollars, and years of recession and living in a liquidity trap? What about US, huh? Complaints about how to spend the hundreds of billions and trillions that the government is going to spend trying to fix this, regardless of what happens those are the types of numbers we have to look at for years to come, are just patently silly and bring to the debate about how to fix things a bozo the clown mentality, a mentality that says we can still play around and pretend that partisanship matters.
I don’t care about what political party you are in, or where you are from, if you stand in the way of progress now, you will hurt America for generations to come, and do the Red, White and Blue that you claim to love inestimable damage.
The reason I say all this about the negativity of political maneuvering?
I was listening to the Senate floor on C-span this morning, after getting a really bad nights sleep, and while I had my cup of coffee heard some guy talking, saying, and these examples are not precise, merely representative of the points in general: “this plan is bad for America” “it will increase the deficit by trillions” “We will have to increase the debt ceiling, which is already high to begin with” If we only cut out the spending and increased tax cuts…” had him pegged as a republican before he finished the first statement, and I was right. Jeff Sessions, junior senator from Alabama.
Notice what he didn’t say. “Here’s my plan to make this better” “we can lessen the impact on the deficit this way” “I am looking forward to working with the Democrats on this legislation to make America’s future a brighter one” Nothing helpful.
His party here really does not matter, to be honest. What does matter is that this man, supposedly a leader in the senate, cannot create a better plan, so he talks negatively of the one that is out there. If he cannot bring something better to the table, why is he bashing? To show how good a Republican he is, when what we need now is good Americans? To show that he can stand up TO the president? When what this nation needs is people to stand WITH the president, and give him all the ideas we can to make things better to make our nation stronger?
Jeff was acting in the name of a political party when we need our leaders to act in the name of the American people. Small minds act in small ways Sen. Sessions, and yours is a small mind. If you can’t do better than what you did this morning sir, please, keep it to yourself. America deserves better than that.
A final video, a few quotes, and I am done.
Bill Clinton, talking about the Stimulus and American politics, from the Davos World Economic Forum:
That’s it for me. Later.
Today’s Nuggets, Via Wikiquote : The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson — and I am not wholly excepting the Administration of W. W. The country is going through a repetition of Jackson’s fight with the Bank of the United States — only on a far bigger and broader basis. President Franklin D. Roosevelt
No country can afford to have its prosperity originated by a small controlling class. The treasury of America lies in those ambitions, those energies, that cannot be restricted to a special favored class. It depends upon the inventions of unknown men, upon the originations of unknown men, upon the ambitions of unknown men. Every country is renewed out of the ranks of the unknown, not out of the ranks of those already famous and powerful and in control. President Woodrow Wilson