Listen up। The daddy knows that things look bleak right now. He knows that some of you are smiling to keep from crying. But he also knows that things will get better. The economy will start to turn around in the latter part of the year. By the end of the 2009, we will see the positive economic effects of the 800 billion Obama Marshall plan तो jump-start the economy and get rolling again.Houses will start selling. This is because Obama's administration will coerce the banks to start lending to each other and to investors.Half of our courageous but misguided (by civilian command) will already be back home, (although a few will have to go to Afghanistan), and congress, under the coordination of former Sen. Daschle, with the help of some Republicans, will have a universal healthcare on President Obama's desk to sign. More importantly, that "Can do" American spirit, of which poet Walt Whitman speaks so eloquently, will be replanted in the American mind and heart. And although he will disappoint people from the left many times, including me, President Obama will be given the credit for creating a spirit of cooperation that unraveled the web called congress and got everyone moving in a positive direction.
But here's the way Jonathan Freedland of The Guardian, a UK paper, put it:
"'Tis the night before Christ of goodwill. The mood is forgiving. Our faces warm with mulled wine, our tummies full, we're meant to slump in the armchair, look back on the year just gone and count our blessings - woozily agreeing to put our troubles behind us. As in families, so in the realm of public and international affairs. And this December that feels especially true. The 'war on terror' that dominated much of the decade seems to be heading towards a kind of conclusion. George Bush will leave office in a matter of weeks and British troops will leave Iraq a few months later. The first, defining phase of the conflict that began on 9/11 - the war of Bush, Tony Blair and Osama bin Laden - is about to slip from the present to the past tense. Bush and Blair will be gone, with only Bin Laden still in post."
Take it from the daddy. Things will get better in the latter part of 2009.
What do you think?
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11 comments:
I think I prefer to read your posts about music and poetry --something you seem very knowlegable about.
Wishing a joyous Kwanzaa celebration for you and fam
I have serious doubts about housing. A lot of homes were financed a few years ago with Pay Option mortgages and they're all going to reset between now and 2011. Here in San Diego, 30% of homes are now officially "upside down" on their mortgages, which means that about 40% or more of local residents probably can't qualify to refinance their properties.
Prices need to fall to more reasonable levels, but as long as greedy homeowners and banks insist their homes are worth as much as they were only a year or two ago they will continue to languish on the market for several months, even years.
Happy holidays!
I am not sure we will see full recovery until 2010 or so. But I am optimistic we will pull through
I definitely think things will get better, but I'm not so sure about 09. At the same time, I'm not worried. Like R.J. mentioned there's another wave of mortgages about to reset, which have to be taken into account. Major reorg has to take place to turn this thing around and bailouts and loans aren't the sole solution. I could go on and on, but staying optimistic and prayed up will be my way of dealing with the gray days ahead. Much love!
Anon, R.J., CurvyGurl, Tariq: You may be right: We may not fully recover until 2010. But remember what I said, that "By the end of the 2009, we will begin to see the positive economic effects of the 800 billion Obama Marshall plan jumpstart the economy and get it rolling again." I didn't say the economy will have fully recovered. I said we will see the effects of Obama's 800 billion plan. The reason I think this will work is that they will monies will go directly to the states to have them build on infrastructure projects that most of them already have on the table. Now, the Obama administration will have to monitor this carefully, because some of the projects listed won't bring about new jobs. But if they monitor it closely by making sure the monies is used for infrastructure projects, I think it will provide jobs, put money into the hands of regular folks, and stimulate the economy...We'll see.
Anon: Yes, I'm probably more knowledgeable about music and poetry. But I'm a student of economics. In fact, I studied business and economics a lot in college. Blessings.
Oh, I hope you're right but I have a feeling that life as we know it is going to change forever and that this economic downturn is not going to be over any time soon. I'm bearing down for the long haul and looking at 2022 or beyond for when we can breathe more easily. We've been headed down this path a long time. Correcting it, I think, will take a long time. But I'm not all that knowledgeable about economics . . . I'm just going on my gut feeling. But, I hope you're right. I'd be very relieved.
I hope some relief comes soon, I'm in dire straights.
At least we are headed in the right direction.
there are many more "shoes to drop" ...the powrrs to be including obama et al know the world economy and the us average citizen cannot stand to know nor fathom the truth of the situation we are in. It is total disaster and a joke to kid ourselves we may be out in a year or two or even see light. it will only get worse. These BANKS HAVE NO "TRANSPARENCY" FOR A REASON. nO ONE IS WILLING TO WRITE DOWN THEIR FAILED ASSETS. WHY DO YOU THINK THEY WITHDREW FROM THE TARP PLAN SO QUICKLY?? no my friends...(no reflection on mccain) we are in for the downturn of 100 years. I agree with chi chi. We are in for a change of a lifetime. Gird your loins!
I appreciate your idealism about Obama. I had a good chunk of similar idealism until the "O"-Man started dancing with Pastor Rick Warren.
If Obama can't stand up to the religious right, how can we realistically expect him to take on Wall Street and the banking industry?
Remember, Obama voted for the $700 billion dollar bailout of Wall Street criminals. Has any of this trickled down to Main Street? Of course not.
I am also concerned that Obama hasn't uttered one word about siccing his Attorney General on the CEOs of the banks, who refuse to to account for how they applied the bailout money.
I'm concerned. Obama (according to the New York Sun) is on record as saying that he wants as much as an 80,000 troop residual force in Iraq as late as 2010. Couple that with the "surge" in Afghanistan, his sabre rattling toward Pakistan and afraid that we haven't totally turned the page on the Bush era.
Takenoprioners: First, I'm not sure Obama said that. I know he has been trying to assure people that he will get the soldiers out as promised. He did say he would listen to the Generals, but he intends to get the troops. He also talked about keeping about 5,000 troops to train soldiers for Maliki's government. But those soldiers will probably be out along Obama's and Maliki's timetable. They don't want us there anymore.
Note: What people are saying here about hard the times are and how deep the problems are with the economy is true. But it's amazing what an 800 billion Obama plan and some monitoring of the money to make sure it goes infrastructure will do. It will put money in the hands of people, not the banks. This is what they should have focused on in the first place: Giving half to the banks (but under the same restraints that Brown in Britain) and half to the development of infrastructure. But we'll revisit this issue toward 2009. Some of you will be surprised.
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