Thursday, November 08, 2012

Pete the Banker: Obama's Depression

Harry Dent , the economic demographer suggests the next 3 -4 yrs is going to be worse than past 4 yrs. He has been very accurate over past decade. Since even a liberal economist like Shiller [of Case-Shiller Index fame] is suggesting it may take 50 yrs for housing to regain its past status, Dents position seems pretty conservative.

It may be that Obama won a Pyrrhic victory. If he is faced with disaster over next four years and handles as he has done over past four years by ignoring it, his charisma won't save him or Democrats.

Republicans will attempt to stop the slide and be denounced as obstructionists. 


  1. The Republicans just garnered the rewards for their obstructionism. Is there such a thing as a Pyrrhic reward?

  2. Obstructionim.

    Ah yes Iago, something you would know about since it is right out of Obama's playbook.

    After nearly two years the Obama,s Treasury Department finally got around to issuing a White Paper on reform and privatization of the residential mortgage finance system. The House responded by passing no less than a dozen reform bills to implement the proposed changes.

    And per ususal the President was simply giving lip service to "change". The Administration and its succubus, Harry Reid, blocked virtually every bill.

    Ah yes and we were promisd transparency and change by Obama. His victory is a pyrrhic victory. You will spend the next few months relishing your victory. But conservatives will be able to correctly say I told you so in 4 years, but there will be little joy in that correct assessment. Ultimately, they will be responsible for pulling the country out of the economic morass created by this Administration.