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Obama says crisis is time of 'great opportunity'

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President Obama is right. So many fortunes will be made throught his crisis that it would surprise the unsuspecting. The clock has started for long term gains for all those with what it takes to shrewdly invest in stocks.

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"What I don’t think people should do is suddenly stuff money in their mattresses and pull back completely from spending,” Obama

When a politician says not to stuff money in their mattresses, that is exactly what people should do. If they are smart, they put as much of it into funds which will protect them from the next set of problems resulting from Obamanomics, hyperinflation.

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If they are smart, they put as much of it into funds which will protect them from the next set of problems...

LOL!! So you agree that stuffing money into mattresses is not the right thing to do. Trading dollars now for tangible assets and collectibles --AKA "spending" -- might be the wisest thing to do.

When a politician says...

When George W. Bush declared his "strong dollar policy" back in 2004, I went heavily into Swiss franc-based investments. One of the best things I ever did...

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VOR: When a politician says not to stuff money in their mattresses, that is exactly what people should do.

You might be better off studying sheep entrails when making such a decision about your money.

But if you are going to stuff anything in your mattress, make it gold, silver, platinum and/or diamonds. They don't burn or devalue as easily as cash.

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I believe in Chinese the kanji for crisis and opportunity are the same.

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Thanks for the financial advice but I'm doing fine without it. I've been moving between gold and cash for a little over two years now and recently bought a beautiful home in Las Vegas for next to nothing. I consider myself fortunate for recognizing when the media begins talking down the economy on the behest of its chosen candidate, its time to get out of stocks. Already started directing assets elsewhere to avoid Obama tax increases. In that light, I agree with Obama, there is opportunity in crisis. I am making out like a bandit.

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In that light, I agree with Obama, there is opportunity in crisis. I am making out like a bandit.

If that is the case, why do you whine and moan so much?

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I believe in Chinese the kanji for crisis and opportunity are the same.

Not quite. Crisis is made up of two characters, danger and opportunity.

This has been misinterpreted in the West, but it simply means that, in a crisis, there is the opportunity for danger.

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Yep, just need to keep mouthing vague, feel-good generalities - hope! change! opportunity! challenge! - and pray the teleprompter doesn't fail.

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Yeah, great opportunity to turn the U.S. into a socialist country.

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Anybody who blames Obama for the economic crisis is basically just advertising their ignorance. Why am I not surprised that many people do?

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"a dispirited nation"

But President Obama's been in office for a month and a half - how can this be?

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Anyone who blames Bush for the economic crisis is basically just advertising their ignorance. Why am I not surprised that many people do?

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why do you whine and moan so much?

who is whining and moaning? i as a US taxpayer, have serious disagreement with the democrats spending money like drunken sailors in order to pay off their political supporters and using my tax dollars to buy future votes. If you want to equate descent with whining and moaning, you do so at your own peril.

It matter little to me who is in power. I learned a long time ago, its never the end of the world whoever controls Washington. Both parties suck, the Democrats in my opinion are more incompetent and deceitful than Republicans, but that doesn't stop me from making the decisions i have to make to secure my and my families future.

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Sarge - "Anyone who blames Bush for the economic crisis is basically just advertising their ignorance. Why am I not surprised that many people do?"

Two feet in his mouth - ouch! :-)

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Sarge - "Anyone who blames Bush for the economic crisis is basically just advertising their ignorance. Why am I not surprised that many people do?"

Heh, I'm relieved you're only joking. :-)

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VOR

If they are smart, they put as much of it into funds which will protect them from the next set of problems resulting from Obamanomics, hyperinflation.

It's hard to put money into funds when you can't pay the rent or pay the bills because the job you had was dependent on the job that went overseas. < :-)

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Anybody who blames Obama for the economic crisis is basically just advertising their ignorance. Why am I not surprised that many people do?

Actually, as I study more about what Obama is doing, I'm beginning to tip from worst President since Carter, to criminally negligent. The man is raising taxes during a recession. Not only that, he's trying to implement socialized medicine, again during the worst recession in recent memory. Policies aside, doing what he's doing, saying what he is saying, is causing the market to collapse. This is costing investors billions of dollars in real money. And not just big investors worth millions of dollars, but the smaller investors are being wiped out as well.

All those people who for the last 8 years were spouting off about how Bush should be arrested, or impeached, I'm not quite there yet on Obama, but if he doesn't start to turn things around fairly soon, I'll get there.

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It's hard to put money into funds when you can't pay the rent or pay the bills because the job you had was dependent on the job that went overseas. < :-)

there was a time when I had no skills, no money and few prospects but that didn't prevent me from getting an education, developing a set of skills and living within my means. I was able to achieve a respectable level of success on my own without relying on the government or my fellow taxpayer for help.

If your job goes overseas its not the end of the world unless of course you believe the old Democratic mantra of victim-hood.

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Many people, that bemoan Obama's leadership, will have egg on their faces sooner than one realizes.

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Many people, that bemoan Obama's leadership, will have egg on their faces sooner than one realizes.

anshin, since your statement lacks any support i would have to assume you don't have any to offer and your confidence is based purely on faith. Obama has that effect on the party faithful. History is full of cult worship, unfortunately, it never ends very well.

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VOR: Already started directing assets elsewhere to avoid Obama tax increases.

Sounds like an opportunity. I don't think that is what Obama meant though.

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You are a tax dodger IMHO. Sue me.

very brave of you being irresponsible behind your anonymity. doesn't matter, the mod zapped my response to your libel. if JT is moderating fairly tonight, your libelous assertion should be also be getting zapped.

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Anyone who blames Bush for the economic crisis is basically just advertising their ignorance. Why am I not surprised that many people do?

Actually I agree. The point is it has nothing to do with either Bush OR Obama. The US financial industry simply ran out of unemployed people, idiot hedge funds and idiot private equity firms to lend money to and PonziAmerica came to a stop and then started to fall. Blaming Obama for a process that started in 2007 just shows that that person doesn't have even a basic understanding of the situation. Blaming Bush the same.

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My several jobs went overseas. Eventually, so did I.

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My several jobs went overseas. Eventually, so did I.

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I don't think that is what Obama meant though.

who knows what Obama means. he says a lot of things and does the exact opposite so you are not alone.

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VOR: very brave of you being irresponsible behind your anonymity.

I am not accusing you of doing anything illegal. I am accusing you of doing something immoral. There is no hard and fast definition the label I used. Its hardly a legal term.

Moderator: VOR and likeitis, please stop sniping at each other. Focus your comments on the story, not at each other.

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whatever likeitis, i agree with the moderator on this one, the conversation headed south the moment the defamation began and was appropriately zapped so there is no sense in continuing with the foolishness.

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Obama says crisis is time of 'great opportunity'

What he did not mention though is that partaking of the opportunity will be greatly magnified by avoiding your responsibilities at the same time. A great many wealthy people already know this. Also, it helps if you can find a way to endure your own hypocrisy. Perhaps there are nose plugs you can buy? Some of us just have too much integrity to make the most of opportunity.

Well, I guess Obama left all that out because he wanted to say something positive for a change? He has been too busy telling us the truth, and it has unsettled some people greatly.

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Obama says crisis is time of 'great opportunity'

Yes. The homeless and unemployed need to be looking for great buys in equity stocks and commodity futures. :-D

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Molenir - "The man is raising taxes during a recession."

Um, check your facts. He is going to raise taxes on the super-rich, while lowering them for the middle class.

"Not only that, he's trying to implement socialized medicine."

And the alternative? I think it is to sit back and watch Medicare and Medicaid implode. Oops, sorry, that's already happening, and has been for years.

"saying what he is saying, is causing the market to collapse."

Rubbish. If you check your stats, you will see that the U.S. stock market has been falling for more than a year, long before President Obama came to power.

But - naturally - if you're a Republican, it's ALL Obama's fault. :-)

"This is costing investors billions of dollars in real money."

Yawn....the previous government, the one you voted for, managed to increase U.S. debt by more than $6 trillion.

And yet you manage to find time to blame the current president - who has only been in power for a matter of weeks - for share prices that have been falling for more than a year.

I'm getting you, uh huh....

"All those people who for the last 8 years were spouting off about how Bush should be arrested, or impeached, I'm not quite there yet on Obama, but if he doesn't start to turn things around fairly soon, I'll get there."

Do you actually celebrate having an incredibly short memory where you come from? :-)

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President Barack Obama should be given wide latitude in addressing multiple problems he received when entering office - at least the first 100 days in office. NO blank check, but wide latitude unless members of Congress find a glaring error/problem. There are multiple large problems that have been developing for decades, and he is approaching each problem step by step. There aren't miracle cures, so he must grind out the best solutions his Administration can develop.

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Obama. What a disaster.

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Um, check your facts.

Facts? But its so much more fun to make things up as you go along! Or cut out the bits you don't like from the things you heard on TV. Like when you hear that Obama is raising taxes on the rich, you just cut out "on the rich" and proceed to scare the crap out of your neighbors, who are not rich. While you are at it, you can scare yourself too. We all need a boost every once in a while.

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likeitis, I think you were directing your post at Molenir.

Apologies in advance for your error. :-)

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Obama. What a disaster.

You should recheck the dates your network has set for posts like that. I think you might be jumping the gun by a few months.

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likeitis, I think you were directing your post at Molenir.

Just chatting with you Sushi, very sarcastically chatting. Excellent post by the way. I don't think anyone here could have responded better.

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Bingo!Another astounding and brilliant speech from President Obama, and one that I hope goes into a textbook for the students at my school.I think my friends sushi sake and likeitis would agree.Well,anyways,it IS too much seeing the rightists and the few remaining bush loyalists trying to bring Obama down.Fools!I guess they don't realize that many of us outside of America actually understand the US economy better then they do, ha ha ha.There ARE opportunities which are abounding at this moment.Said opportunities are real.It's just sad that the sargies of this world won't be able to recognize them and do their PATRIOTIC duty and support Obama, instead of just listening their new dear leader, rush limbaugh.

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"many of us outside of America actually understand the US economy better than they do, ha ha ha"

That must be why you haven't been able to duplicate, let alone surpass, our stupendous achievements.

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That must be why you haven't been able to duplicate, let alone surpass, our stupendous achievements.

Don't let what we invaders have done with untapped stolen lands with fortunate geography go to your head Sarge.

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Sarge - "That must be why you haven't been able to duplicate, let alone surpass, our stupendous achievements."

Judging by the current state of your economy and the way it is rapidly dragging the rest of the global economy down the financial toilet, I really don't think anybody would want to. :-)

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Sushi - Judging by the current state of the world's economies, I don't see anything that we should be jealous of. :-)

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Molenir - "The man is raising taxes during a recession." - SushiSake Um, check your facts. He is going to raise taxes on the super-rich, while lowering them for the middle class

He is claiming to be doing this, but he is repealing the Bush Tax cuts. The ones that cut the taxes of every single American taxpayer. The effect of his so called tax cuts... He gives everyone 12 to 40 dollars more in their paychecks. Bushs tax cuts gave everyone 18 to 50 dollars more. Repealing them means increasing taxes on everyone. And no, I'm not making this up. Check the facts and the math for yourself.

"Not only that, he's trying to implement socialized medicine." Sushi - And the alternative? I think it is to sit back and watch Medicare and Medicaid implode. Oops, sorry, that's already happening, and has been for years.

Do you even have a clue about how the health care system works in America? I don't think you do. If you did, you wouldn't be saying this nonsense.

Sushi, I'll simply respond by stating the facts. Previous Presidents during times of economic crisis, managed the economy by staying positive. By essentially using their pulpit to acknowledge the problems, but gloss over them. Obama however is not doing this. He is pointing out problems. He is saying the economy is in shambles over and over again. He is saying only the government can save it. Its like the man is deliberately saying these thing in order to push the US towards socialism. Rather then going out and being positive on the economy, reassuring investors, he is being pessimistic. You might say its being realistic, but really its like shouting fire in a crowded theatre. The difference being, its peoples savings thats being lost rather then their lives.

At this point its not a matter of Republicans and Democrats, its a matter of doing whats best for the country. I'm really starting to wonder if Obama really cares about the US and its economy. I can only see 3 choices here. He is either doing this deliberately, or he is a naive fool who is getting bad advice, or hes an incompetent idiot. To be honest, I don't want to believe any of the 3, but listening to what he says, and watching what he does, its getting harder and harder to think otherwise. As I said elsewhere, the next 6 months will tell.

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He is claiming to be doing this, but he is repealing the Bush Tax cuts.

The so-called "Bush tax cuts" were set to expire in ten years at the time they were enacted. The political rationale for extending them could only be justified if the federal budget remained in the black -- which Bush pretty much killed.

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Obama Has a real fight on his hands with the GOP and special interest groups. When it comes to energy and green stimulus programs he needs to think out of the box a bit more. We need discoveries that will creat new jobs. President Obama and Mr. Chu and the Energy Dept. are moving quickly to fund alternative energy projects. However most of what you see is the obvious and well known programs. We need to concentrate more on break thru technologies! Otherwise we will never really change the world! I recently discovered a company called Energetics Technologies. They have a process called SuperWave Fusion, which could be a possible breakthrough in cold fusion. I recently read that 2 independent labs have replicated this process, this is the type of new thinking we need

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yabits beat me to it.

The legislation mandated the tax cuts to end. Molenir does not have a clue what "repeal" means in reference to our country's laws. Maybe he has been listening to the right wing song and dance too long or has been reading the right wing nuts blogs but Obama is not repealing the tax cuts. Molenir once again is out of his league in speaking about which he knows not of. Obama is not only not repealing Bush's tax cuts but his stimulus bill that was passed and signed into law has even more tax cuts on top of Bush's tax cuts in them. Who put them in there, the Republicans? No, they were put in the legislation by congressional Democrats at the direction of Barack Obama.

Nobody knows the countless times I have spotted Molenir's fallacious statements and not called him out on it. It just becomes so tedious and there is so much more I could be doing in life. So most of the time I try to stay positive and informative on these threads but at some point these total misrepresentations, mischaracterizations and outright lies must be brought to light.

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The legislation mandated the tax cuts to end. Molenir does not have a clue what "repeal" means in reference to our country's laws. Maybe he has been listening to the right wing song and dance too long or has been reading the right wing nuts blogs but Obama is not repealing the tax cuts.

Let me explain it to in a way even you can understand. Yes, they are set to expire, and in fact are already doing so. However by choosing not to act, Obama is choosing to repeal them.

Donkey - Apart from this, Democrats have been using this precise language for years, you should understand it better then anyone.

So most of the time I try to stay positive and informative on these threads but at some point these total misrepresentations, mischaracterizations and outright lies must be brought to light.

I know I shouldn't respond to this, I really know it, but its just so hard to hear a liar claiming to be correcting lies, and let it pass. Just about all you ever hear from GoodDonkey is that the lefts latest spin. Truth doesn't matter, and has never mattered to Donkey, only if you're on the right side of his personal beliefs.

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Yes, they are set to expire, and in fact are already doing so. However by choosing not to act, Obama is choosing to repeal them.

Thank you for the laugh!!

When Bush signed the tax cuts into law, he was also signing a major tax increase in ten years time. That is how the cuts were sold to the American people just in case the Republicans somehow managed to run the federal budget out of the black and into the red.

Readers should recall that the tax cuts were sold against projected surpluses, and that supply side voodoo cause some to predict that the cuts would more than pay for themselves. Just like the Iraq war and reconstruction would pay for themselves.

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When Bush signed the tax cuts into law, he was also signing a major tax increase in ten years time. That is how the cuts were sold to the American people just in case the Republicans somehow managed to run the federal budget out of the black and into the red.

Do you remember what was happening in 2001? The whole mini recession that Democrats blamed on Bush and Republicans blamed on Clinton? The Tax cuts directly stimulated the economy and sure enough they did pay for themselves. Regrettably Bush and the Republicans decided to throw away all the additional income the tax cuts and the booming economy generated. On Iraq, on new entitlement programs, on things the government shouldn't have done. They decided that despite their rising income, despite having had a balanced budget for a few years, to deficit spend instead.

This failure on their part does not abrogate the failure on Obama's part. If he fails to renew the Bush Tax cuts, he will in fact be choosing to repeal them. Increasing taxes in the middle of a recession won't in any way help the economy recover. Instead it will prolong the recession.

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The Tax cuts directly stimulated the economy and sure enough they did pay for themselves.

Another good laugh! You're on a roll.

As everyone, except for the most gullible and/or brainwashed, now knows all too well, the "booming economy" you speak of was built mainly on increasing real estate values, and the subsequent spending due to people taking out second and third mortgages to get some of that hot equity money in their hands. It was a house of cards.

The whole mini recession that Democrats blamed on Bush and Republicans blamed on Clinton?

It wasn't blamed on Bush. But the Republicans sure used it to push the need for their tax cuts for the wealthiest Americans.

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Obama says crisis is time of 'great opportunity' as a headline needs correction.

Actually it is his chief of staff who said:"You should never waste a crisis."

prior ...Obama saying "to discover great opportunity in the midst of great crisis.”

Nonetheless, inspiring. Fortune favors the bold.

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Four months since winning office and this administration still has no plan for the banking crisis, the single most important issue facing the nation.

Unfit to lead.

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I think the plan is to spend money the government doesn't have (unless the Chinese lend it) to try to support a level of consumer spending that is unsustainable by giving bailouts to the banks and any other bankrupt business that comes begging.

The other thing about taxing the wealthy. The wealthy don't stuff their money in mattresses. They invest in companies, they run companies, they buy goods and services. Yeah, the goods and services are way beyond what any of us can afford but they are still spending money and that keeps people employed, even if it is making gold plated toilets.

Raising taxes is just a way of the government saying that the wealthy don't know how to spend their money properly and, therefore, the government has to step in to spend the money for them.

Of course then the government has to hire people to collect and re-allocate the money and the money often goes to people who aren't producing any goods and services. Ouch!

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"Unfit to lead"

Yeah, but he won the election, so we have to put up with him.

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As everyone, except for the most gullible and/or brainwashed, now knows all too well, the "booming economy" you speak of was built mainly on increasing real estate values, and the subsequent spending due to people taking out second and third mortgages to get some of that hot equity money in their hands. It was a house of cards.

What you're saying is both true and false. The booming economy was not built on the housing bubble, though that was certainly one component of it. And again, as much as you seem to want to deny it, the Bush tax cuts did stimulate the economy. You can simply look at the governments income and note an immediate jump. Of course as I said before, Bush and Congress decided to throw away all that extra money instead of maintaining a balanced budget.

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CHANGE! CHANGE! CHANGE! a nickel, a dime, a quarter, hell, even a half-dollar... penny for your thoughts...

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