Some economists dismiss the importance of confidence at a time when so many pillars of the system remain broken. “That’s not going to fix it,” said Peter Morici, an economist at the University of Maryland. “The economy got bad and the people lost their confidence, not the reverse. People getting their confidence back is not going to restore banks to solvency or consumer demand.”
The problem, Dr. Morici added, “is not confidence; it’s substance.” After all, just last month, another 663,000 jobs were lost, according to figures released Friday, bringing the total for the recession to more than five million so far.
Substance. Yup. They want us to spend and business to hire again. But when they're trying to take our lives over and we see debt and taxes as far as the eye can see, no way.
Michael Goodwin wants to see Obama the negotiator at home. Not gonna happen. Barack Obama and his Chicago thugs see the now powerless GOP as more of an enemy than North Korea or Iran, he compares business people to terrorists and is allied with those who threaten people in their homes--unfavored citizens as public enemies.
The Obama administration thinks they can spin and bully their way to do anything they want--and why not, it's worked so far.
P.S. Axelrod on Sunday show threatening strong international response to North Korea missile launch. Yeah, that'll work. Obama the same in Prague. I'm sure that is very comforting to the Czechs. Great time to chop the defense budget and missile defense.
P.P.S. Note the passive voice:
"Rules must be binding," he said. "Violations must be punished. Words must mean something."
"Now is the time for a strong international response," he said.
Our President Barack Obama abroad. Talk, talk and carry a little stick.
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