Skip to main content

View Diary: Obama challenges Chamber to support his agenda (202 comments)

Comment Preferences

  •  I understand the strategy... (0+ / 0-)

    even if it's all window-dressing. The president can't create the jobs people need. The people sitting in that room, and their allies elsewhere, are the ones he hopes will create those jobs.

    Obama is relying on the most effective market force—sentiment, and it seems to be working. Pundits and traders on CNBC changed their tune in the last few weeks. Some are now recommending that investment dollars which they (as a class) once advised be invested gambled overseas return home. This is new. I haven't ever seen comments like this before. Inflation in Asia, the possibility of unrest over the coming food shortages and rising prices for food and all sorts of basic necessities are on the minds of banks and investors.

    I have twice given odds that the jobs will come. Last fall, I thought Obama had a 40% chance of making this work, then a month ago, I revised that estimate downward to about 25%. To his credit, the president is making all the moves he needs to. He's speaking to the CoC, Geithner is presently in Brazil, and others are worldwide trying to drum up business for American companies (the State Department, US Trade Representative and others in their role as business boosters). More of this is to come. To be fair to the president, Congress has left the white house with absolutely no options. It's be pro-business (low tax, cut spending and no regulating) or nothing.

    Food safety? Even if it's funded, nobody will take more than CYA measures.

    Having said all this, I think the jobs will return. President Obama's efforts will work. Jobs will begin to return sometime in October 2012, and be reported on in mid-November. On this news, employers will plan on greater sales and hiring will accelerate, and whoever gets to take the oath of office in January will get the credit.

    Outlandish? Perhaps, but many of the investing class will accept nothing less than a GOP victory, however. Traders like Uri Landesman and Jack Reutermann (see the two links in this post) have said publicly that they base their investment decisions on who's in office.

    I was going to say "who's in power" but it seems that no matter who gets elected, we know who sits in the driver's seat.

    About the only thing the white house could do to win these guys over is to very publicly and very brutally break labor. Even now, there are those (like the cato institute and those who swallow this characterize the economy today as "strangled by unions."

    22 December 2010: Democrats have one good day in two years, and what will it cost us?

    by papicek on Mon Feb 07, 2011 at 06:25:32 PM PST

Subscribe or Donate to support Daily Kos.

  • Recommended (140)
  • Community (62)
  • 2016 (44)
  • Environment (40)
  • Elections (38)
  • Culture (36)
  • Bernie Sanders (36)
  • Republicans (34)
  • Hillary Clinton (27)
  • Education (26)
  • Climate Change (24)
  • Trans-Pacific Partnership (24)
  • Labor (24)
  • Media (23)
  • Barack Obama (23)
  • GOP (21)
  • Civil Rights (21)
  • Economy (20)
  • Spam (19)
  • Affordable Care Act (19)
  • Click here for the mobile view of the site