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Obama says U.S. economy sound; reassures investors

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Wow. McCain said the same thing last year and he got toasted.

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McCain said the same thing last year and he got toasted.

The key word here is "last year". A lot more is known now that was not known then. Obama is basically giving the message that despite all that has happened things are going to be OK. Besides Obama has been criticized for been too much doom and gloom and that it was affecting investor confidence. What McCain said last year is old news in a context long gone.

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Obama is sooooooooo cool. Man i am waiting for more money and so are all my friends. Man, i'm going to have the latest trailer and a new flat screen TV and all the rich dudes who got richer because of Bush are going to pay for me. Obama is giving payback to us poor guys, he is an all American hero.

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Yes, and you should hold your breath waitin' for it.

(I recommend the double-wide trailer for that super dooper flat screen TV.)

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President Obama didn't exactly say the economy is sound, he said foreign investors can have confidence in the soundness of their investments.

"Obama's administration is counting on the Chinese to help pay for the $787 billion economic stimulus package"

What, we can't count on the Iraqis, with all their oil wealth, to help pay for it?

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“I think that not just the Chinese government, but every investor, can have absolute confidence in the soundness of investments in the United States,”

Wow - this statement is clearly detached from reality. Only a few weeks ago President Obama was warning the Congress of a looming catastrophe if they didn't pass is porkulus package. This guy is schizoid! Bush said something similar before the crash last Fall and was crucified for it. I suspect we will not hear a peep from the mainstream press on this stupid statement. Obama needs to get out of his bubble in Washington and see what is happening to the retirement investments of his fellow Americans.

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"Obama needs to get out of his bubble in Washington and see what is happening to the retirement investments of his fellow Americans"

His fellow Americans who gambled their retirement on the stock market? I can't believe how many people have done that. I didn't do that. My retirement fund is safely in the bank, which is insured by the U.S. gov..., oh crap!

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Wolfpack: "This guy is schizoid! Bush said something similar before the crash last Fall and was crucified for it."

Hang on a sec.... one more time... when did this crash happen again? I just want to clarify, since people like yourself seem intent on blaming it all on Obama like it all started in January. Glad you can admit the truth. And you guys also crucify Obama for passing spending bills when you admit bush passed the first. Interesting.

Anyway, good on Obama. I don't believe any investment in the US is sound, and the Chinese are justified in their concern, but it's not like it's his fault. He's just helping to settle things down a bit.

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"I don't believe any investment in the US is sound"

So, you think the Chinese are idiots?

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The Chinese shouldn't be worried about their investments, because it is backed by collateral they can seize when America eventually defaults: uranium mines, coal mines, oil fields off California and Florida (that the Chinese will tap), thousands of acres of forests on federal lands, and plenty of attractive women of low virtue that can be tossed in as a sweetener.

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BeBert, don't worry. It won't come to that.

We'll just do what other nations do to us and tell the Chinese, "Go and get stuffed 'cause we ain't payin' and there ain't a d*mn thing you can do about it."

Non problemo.

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sarge: "So, you think the Chinese are idiots?"

Nope. In fact, I think they are correct to be concerned, which is what I said, and what the media has been reporting for the better part of a week, now.

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I have never seen such a sycophantic and swooning media coverage about a political leader, apart from Zimbabwe and North Korea.

That the media corps behaves like this towards the Potus is mind-boggling.

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smithinjapan: Anyway, good on Obama. I don't believe any investment in the US is sound, and the Chinese are justified in their concern

So you don't believe him but you're happy he said it?

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SuperLib: I'm happy he's upbeat about things, and I believe his attitude is part of what's going to help your country get through. He's not using fear, like his predecessor, he's using hope. That doesn't mean I don't believe in HIM because I don't believe investments in the US in general are not necessarily sound.

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Steep, steep markdowns on Obama t-shirts and clothing at Amazon.com

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SmithinJapan, if you had access to the US media you'd see President Obama is on the telly daily usin' 'fear' to push his agendas. Daily, my friend.

"Hurry and do this now - now - or else..."

And you say Americans have political tunnel vision. Right.

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But, but, but .... the world looooves Obama. The leftists said so. So in name of global harmony, the Euros and the Canadians should be lining up to match Washington’s $787 billion porkulus package of spending and tax cuts. I'm sure the non-Americans who post at this site and get all "excited" when Obama speaks won't have a problem with their governments doing just that.

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I'm just trying to recall the names and labels McCain was given during the campaign when he assured the country that the economy's fundamentals were strong.

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Pres. Obama is doing what has to be done and the economy seems ok, although I have seen some disturbing things locally. Japan and the PRC have been working to stabalize their respective economies. They, as well as others will cooperate w/ the US to resolve the economic turmoil.

I think if people keep their cool in this crisis and keep tensions down, things can be worked out.

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President gloom-and-doom was shrieking about how the economic sky was falling all through the campaign and after he entered office...

Now, he proclaims that the U.S. economy is OK.

Will the real Barack Hussein Obama please stand up.

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Two days ago, I was channel surfin' and came across what looked like President Obama in a sit-down presidential photo op where he said he "inhaled a lot" in relation to his drug abuse history.

Was he president when he said that, or was this before?

They say he smokes at the White House. What're all the substances he's smokin'? Maybe it's interferin' with his thought processes.

-Just a thought.

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USARonin: "And you say Americans have political tunnel vision. Right."

Must have touched a button there, eh? but where did I say Americans have tunnel-vision? I said Americans who still try and support bush and the invasion of Iraq as being a good choice as people with political tunnel-vision, yeah, but where did I say all Americans, as you suggest?

But hey, I wouldn't expect someone who uses racist remarks like 'gypped' to read and understand a post.

rollonarte: "I'm just trying to recall the names and labels McCain was given during the campaign when he assured the country that the economy's fundamentals were strong."

Trying to recall the names used on McCain, or the handle you had back then? I think it's only changed three times since, so shouldn't be too hard to call up.

TexasAggie: "President gloom-and-doom was shrieking about how the economic sky was falling all through the campaign and after he entered office..."

Actually, I think it was posters like yourself trying to prove Obama is bad by connecting it to stock market prices, despite that having no actual connection. Well, now that Wall Street is finally seeing an increase, it's simply you who are still harping on the 'doom and gloom'.

Keep trying, kiddies. The US is not a sound investment yet, and hasn't been for a while, but it will be again, thanks to your president.

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Would anyone know if the US West Coast's economies are worst off than, say, the East Coast?

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Smith... You can't have it both ways. You can't say that you don't think any investment in the U.S. is sound, AND say that you don't think the Chinese are idiots for investing billions in the U.S.

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sarge: Clearly, you're mincing words. I said the Chinese are right to be worried, because the investment in the US is not sound. What's more, you have completely eliminated the pressures put on countries like China and Japan to 'lend' money to the US. A person is not necessarily an idiot for giving someone money when they have a gun to their head, literally or figuratively.

This is not a game of 'black and white', sarge, so stop trying to play it that way and get with the program.

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rollonarte: "I'm just trying to recall the names and labels McCain was given during the campaign when he assured the country that the economy's fundamentals were strong."

Trying to recall the names McCain was given, or the handle you gave yourself back then?

Huge differences between Obama and McCain, my friend, not the most of which is that the former beat the latter into the ground in the election. Some of you still fail to acknowledge that fact.

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smithinjapan: That doesn't mean I don't believe in HIM because I don't believe investments in the US in general are not necessarily sound.

What?

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Logically it doesn't make sense:

Why would you be saying your "economy is sound" when it already is? = Clearly it is not.

Not as bad as Japan saying they will not be affected by this financial bubble --> When they would clearly be (and severely).

It seems you have grade-schoolers running the financial systems these days. But even most grade-schoolers can see right thru their double-speak. = Bad news financially = Gov will print more money.

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