Nero Fiddled While Rome Burned

[OldRegular]

Probably a historical myth. However, it is mot a myth that O'bama is fiddling around while the stock marked continues its nose dive. More than 75% of Americans are invested in the stock market. O'bama apparently intends to incorporate as much of his socialist agenda while the country is in a financial meltdown; taking advantage as Rohm Emanuel states, of the crisis in the country.

1. O'bama blithely remarks that the health care problem is the cause of the financial ills of the country as he attempts to enact socialized healthcare.

2. Next there is the problem of education, which is really the purview of the states, but which the feds are always willing to screw up.

3. Then there is the energy crisis to be solved by going green, whatever that means. Meanwhile he has reneged on his promise to drill offshore for oil and natural gas and to support nuclear power. With 243 million vehicles on the road powered by petroleum products and the auto industry in deep trouble, that is beyond stupid.

4. Finally there is the carbon tax. A tax that every consumer will have to pay, not just those making over $250,000.

So O'bama fiddles around while the financial markets are in turmoil. According to some financial experts he could remove most of the turmoil by executive order; abandoning the mark-to market rule that financial institutions are saddled with.

 

[LadyEagle]

Over the course of his reign, Nero often made rulings that pleased the lower class. Nero was criticised as being obsessed with being popular.[56]

In 64, Rome burned.[71] Nero enacted a public relief effort[71] as well as significant reconstruction.[72] A number of other major construction projects occurred in Nero's late reign. Nero had the marshes of Ostia filled with rubble from the fire. He erected the large Domus Aurea.[73] In 67, Nero attempted to have a canal dug at the Isthmus of Corinth.[74] Ancient historians state that these projects and others exacerbated the drain on the State's budget.[75]

The economic policy of Nero is a point of debate among scholars. According to ancient historians, Nero's construction projects were overly extravagant and the large number of expenditures under Nero left Italy "thoroughly exhausted by contributions of money" with "the provinces ruined."[76][77] Modern historians, though, note that the period was riddled with deflation and that it is likely that Nero's spending came in the form of public works projects and charity intended to ease economic troubles.[78]

<snip>
According to Tacitus, the population searched for a scapegoat and rumors held Nero responsible.[83] To diffuse blame, Nero targeted a sect called the Christians.[83] He ordered Christians to be thrown to dogs, while others were crucified and burned.[83]

Tacitus described the event:
“ Consequently, to get rid of the report, Nero fastened the guilt and inflicted the most exquisite tortures on a class hated for their abominations, called Christians by the populace. Christus, from whom the name had its origin, suffered the extreme penalty during the reign of Tiberius at the hands of one of our procurators, Pontius Pilatus, and a most mischievous superstition, thus checked for the moment, again broke out not only in Judaea, the first source of the evil, but even in Rome, where all things hideous and shameful from every part of the world find their centre and become popular. Accordingly, an arrest was first made of all who pleaded guilty; then, upon their information, an immense multitude was convicted, not so much of the crime of firing the city, as of hatred against mankind. Mockery of every sort was added to their deaths. Covered with the skins of beasts, they were torn by dogs and perished, or were nailed to crosses, or were doomed to the flames and burnt, to serve as a nightly illumination, when daylight had expired.[83]

http://en.wikipedia.org/wiki/Nero

 

[OldRegular]

Since O'bama is fiddling while the economy tumbles then we must conclude that the recession is now his. Does his inaction on the economy give credence to my belief that he wants the country to bankrupt. Currently more than 60% believe that bankruptcy is possible. Now all he has to do is make such bankruptcy acceptable.

 

[just-want-peace]

Better hang on tight mateys, there's a rogue wave bearing down on us at warp speed!!!raying:

 

[JustChristian]

Since O'bama is fiddling while the economy tumbles then we must conclude that the recession is now his. Does his inaction on the economy give credence to my belief that he wants the country to bankrupt. Currently more than 60% believe that bankruptcy is possible. Now all he has to do is make such bankruptcy acceptable.

No we can't assume that. This problem was caused by the Bush administration and Obama is trying to get us out of it. We were already in a crisis situation and had enacted one huge nailout bill before Obama became President.

 

[canadyjd]

No we can't assume that. This problem was caused by the Bush administration and Obama is trying to get us out of it. We were already in a crisis situation and had enacted one huge nailout bill before Obama became President.

Those of us who criticized Bush for leaving conservative principles are being consistent.

We didn't like it when Bush broke the budget, and we don't like it when Obama becomes Bush on steriods.

If Bush was such a failure, as you continually point out, why do you think Obama is going to have success doing the same thing that Bush did?

The Obama administration is like having a third term for George Bush when it comes to economic policy, only worse.

peace to youraying:

 

[windcatcher]

Is it just me, or has anyone else noticed how each new presidency seems to have a crisis occur... either at its end or at its beginning?

And each crisis seems to add permission and strength to the office which is more than the one who served before....... or is that my imagination?

And each crisis can appear like a social experiement upon the populace to measure how we react or respond?

 

[JustChristian]

Those of us who criticized Bush for leaving conservative principles are being consistent.

We didn't like it when Bush broke the budget, and we don't like it when Obama becomes Bush on steriods.

If Bush was such a failure, as you continually point out, why do you think Obama is going to have success doing the same thing that Bush did?

The Obama administration is like having a third term for George Bush when it comes to economic policy, only worse.

peace to youraying:

Obama will be successful (I hope) because he is a leader and Bush was not. He also understands the issues and Bush did not.

 

[canadyjd]

Obama will be successful (I hope) because he is a leader and Bush was not. He also understands the issues and Bush did not.

If Obama is such a great leader, why has the stock market lost 20% of it's value since he took office? Because business owners and investors do not have confidence in his ability to lead anywhere that is productive.

If Obama understands the issues so well, why does he support abortion?

If Obama understands the issues so well, why didn't he support the surge that has now proven to be successful?

If Obama understands the issues so well, why did he publicly announce his intention to dismantle the strategic defense inititive ("Star Wars"), and then try to use SDI as leverage toward Russian to limit nukes in Iran?

The Russians laughed at him and scolded him like a child.

The truth is, he isn't a great leader (or anything else for that matter), and he doesn't understand the issues very well.

It is amatuer hour in the White House and the country is going to pay for it.

peace to youraying:

 

[AresMan]

Obama will be successful (I hope) because he is a leader and Bush was not. He also understands the issues and Bush did not.

Neither understand the issues. They do not understand the free market and the real causes of the problem.

 

[AresMan]

Is it just me, or has anyone else noticed how each new presidency seems to have a crisis occur... either at its end or at its beginning?

And each crisis seems to add permission and strength to the office which is more than the one who served before....... or is that my imagination?

And each crisis can appear like a social experiement upon the populace to measure how we react or respond?

The problem is that the bust in the business cycle happens in one administration from the boom in the previous. Politicians do not understand the business cycle and the cause of it. Most Presidents get the blame for recessions, yet the seeds for the recessions get planted years before. However, there definitely is plenty of blame to go around, and not one President in recent history has a proper understanding of the cause of the business cycle and how to act properly, because to do so is not popular.

The tech bubble during the Clinton administration caused the recession when Bush took office. Bush did not handle it correctly and tried to avoid it through deficit spending and lower interest rates.

The lower interest rates caused the housing bubble during the Bush administration. The housing bubble eventually had to collapse.

Both the Bush administration and the Obama administration misunderstand the situation and reacted incorrectly. The Obama administration is trying to avoid the housing recession just as Bush tried to avoid the tech recession with deficit spending and lower interest rates.

The current demand for dollars and deleveraging is creating the current dollar bubble. When all the inflation caused by the deficit spending quenches the dollar demand, there will be a major run on the dollar. The dollar bubble may burst during Obama's administration or the next administration.

We are running out of bubbles to inflate. A currency bubble is the last available bubble to inflate. After that, say "goodbye" to the U.S. dollar hegemony and world power status.

 

[AresMan]

Those of us who criticized Bush for leaving conservative principles are being consistent.

We didn't like it when Bush broke the budget, and we don't like it when Obama becomes Bush on steriods.

If Bush was such a failure, as you continually point out, why do you think Obama is going to have success doing the same thing that Bush did?

The Obama administration is like having a third term for George Bush when it comes to economic policy, only worse.

peace to youraying:

Finally, someone who is consistent! I am sick of all the party loyalty. For the most part they are both corrupt to the core and both have the same economic policy: irresponsible spending. Democrats want to do it through demand-side deficit spending and taxation; Republicans want to do it through supply-side deficit spending and borrowing.

 

[OldRegular]

No we can't assume that. This problem was caused by the Bush administration and Obama is trying to get us out of it. We were already in a crisis situation and had enacted one huge nailout bill before Obama became President.

Wrong again JC.

The problem was caused by the push by leftists/liberals/democrats to get everyone in their own home whether they could afford it or not. That push started during the Carter administration, and was accelerated by the Clinton administration. The strong arm of the democrat party, ACORN, bullied banks into making loans to those unable to afford them. Fannie and Freddie bought up these mortgages, sold them to other institutions, and democrats Barney Frank and Chris Dodd blocked attempts to regulate them. When the housing bubble broke the manure hit the fan and Senator Harkin got a $2 million earmark to control the odor.:laugh: :laugh: :laugh:

 

[AresMan]

Wrong again JC.

The problem was caused by the push by leftists/liberals/democrats to get everyone in their own home whether they could afford it or not. That push started during the Carter administration, and was accelerated by the Clinton administration. The strong arm of the democrat party, ACORN, bullied banks into making loans to those unable to afford them. Fannie and Freddie bought up these mortgages, sold them to other institutions, and democrats Barney Frank and Chris Dodd blocked attempts to regulate them. When the housing bubble broke the manure hit the fan and Senator Harkin got a $2 million earmark to control the odor.:laugh: :laugh: :laugh:

I agree with that; however, if you are trying to be a good partisan and completely exclude Bush and all Republicans from the problem, you have another thing coming. Bush did not respond properly to the bursting of the tech stock bubble, and the tag team of Bush and Greenspan with deficit spending and rock bottom interest rates added fuel to the fire. What do people do when interest rates are artificially low? They buy expensive items (like houses and cars), because they do not want to miss the opportunity.

Remember, do your patriotic duty and spend yourself into debt. Consumer spending drives the economy.

 

[rbell]

Obama will be successful (I hope) because he is a leader and Bush was not. He also understands the issues and Bush did not.

So...tax increases, messing with the mortgage deduction during a housing crisis, and undertaking a catastrophically expensive healthcare overhaul on during a recession...that is "understanding the issues?"

Give me a break. Obama is in over his head.

Jim Cramer of CNBC's "mad money" (no arch-conservative) says of Obama:

"What the heck? Are they really that blind to the Great Wealth Destruction they are causing with their decisions to demonize the bankers, raise taxes for the wealthy, advocate draconian cap-and-trade policies and upend the health care system? Do they really believe that only the rich own stocks? What do they think we have our retirement accounts in, CDs? Where did they think that the money saved for college went, our mattresses? Do they think the great middle class banks at the First National Bank of Sealy and only the wealthiest traffic in the Standard & Poor's 500?"

(SOURCE)

 

[targus]

Obama isn't fiddling - he's throwing gas on the fire.

 

[Revmitchell]

Recessions are part of our economic cycle. They will come regardless of what is done. The extent of the recessions is increased by mishandling it. Trying to avoid recessions is a mistake.

 

[Palatka51]

Obama isn't fiddling - he's throwing gas on the fire.
Reply With Quote

Ain't that the truth?!

Recessions are part of our economic cycle. They will come regardless of what is done. The extent of the recessions is increased by mishandling it. Trying to avoid recessions is a mistake.

Again the truth!

 

[OldRegular]

Bush did not respond properly to the bursting of the tech stock bubble,

The tech bubble burst under Clinton, well before Bush took office.

I will admit that Bush and the Republican Congress spent like drunken democrats which contributed to the false sense of security and the replacement of the Republican Congress by a worse democrat Congress.

 

[OldRegular]

Given that the fiddling of O'bama rex becomes more inane I thought I would resurect this thread. While the economic situation worsens, the expected deficit for 2010 grows from $1.7 trillion with a T to $2.6 trillion with a T, O'bama rex is on the campaign trail insulting handicapped people on the Leno show. He needs to get his butt back in DC and at least make a show of being president.

The sad truth is, whether he can swim or not, he is in so far over his head the country is in danger.