Financial Times article: Mr Obama wishes to be president of a country that does not exist.

[Better Believe It]

Struggling with a great contraction
By Martin Wolf
August 30, 2011

Now consider, against this background of continuing fragility, how people view the political scene. In neither the US nor the eurozone, does the politician supposedly in charge – Barack Obama, the US president, and Angela Merkel, Germany’s chancellor – appear to be much more than a bystander of unfolding events, as my colleague, Philip Stephens, recently noted. Both are – and, to a degree, operate as – outsiders. Mr Obama wishes to be president of a country that does not exist. In his fantasy US, politicians bury differences in bipartisan harmony. In fact, he faces an opposition that would prefer their country to fail than their president to succeed. Ms Merkel, similarly, seeks a non-existent middle way between the German desire for its partners to abide by its disciplines and their inability to do any such thing. The realisation that neither the US nor the eurozone can create conditions for a speedy restoration of growth – indeed the paralysing disagreements over what those conditions might be – is scary.

A shock caused by a huge fight over fiscal policy – the debate over the terms on which to raise the debt ceiling – has caused a run into, not out of, US government bonds. This is not surprising for two reasons: first, these are always the first port in a storm; second, the result will be a sharp tightening of fiscal policy. Investors guess that the outcome will be a still weaker economy, given the enfeebled state of the private sector. Again, in a still weaker eurozone, investors have run into the safe haven of German government bonds.

Nouriel Roubini, also known as “Dr Doom”, predicts a downturn. “A stopped clock”, some will mutter. Yet he is surely right that the buffers have mostly gone: interest rates are low, fiscal deficits are huge and the eurozone is stressed. The risks of a vicious spiral from bad fundamentals to policy mistakes, a panic and back to bad fundamentals are large, with further economic contraction ahead.

Yet all is not lost. In particular, the US and German governments retain substantial fiscal room for manoeuvre – and should use it. But, alas, governments that can spend more will not and those who want to spend more now cannot. Again, the central banks have not used up their ammunition. They too should dare to use it. Much more could also be done to hasten deleveraging of the private sector and strengthen the financial system. Another downturn now would surely be a disaster. The key, surely, is not to approach a situation as dangerous as this one within the boundaries of conventional thinking.

Read the full article at:

http://www.ft.com/intl/cms/s/0/079ff1c6-d2f0-11e0-9aae-00144feab49a.html#axzz1Wd0lPLZP

[Logical]

1. This is my issue with Obama! Gullible as hell!

[ljm2002]

7. He's not gullible...

...one does not attain the office of President of the United States by being gullible. Even if you think he was gullible concerning the reality of politics after he took office, at this late date that is no excuse for his continual appeal to "bipartisanship" -- unless it is serving his purpose to do so.

We're the ones who are gullible, if we believe he is doing anything other than what he wants to do.

[ChairmanAgnostic]

2. Sometimes it takes a foreigner to see us clearly.

case in point.

[FarLeftFist]

3. Why would Obama ever think they were looking for 'harmony'?

Before he even took office they were calling him a 'terrorist' and 'socialist'. Did he think those were signs of affection? I commend his optimism but he really needs a little more cynicism in his life. The republicons aren't a political party, they are an Obama hate-group.

[dennis4868]

4. because as bad as they treated Clinton...

the repubs still worked with clinton and didn't fillubuster 24/7. The repubs back then were not against their own policies once Clinton agreed with them...repubs in senate have fillubustered more than any other time in our history...that was not expected.

[kenny blankenship]

10. You must have been asleep in the 90s. Bob Dole led a record number of filibusters in C's first years

Then they tried to remove him by any kind of scandal they could gin up against him personally, his wife, his cabinet officers and so on. Bill Clinton was accused of selling classified military technology to China, of committing murder while in office, of financial improprieties in office, of fraud prior to office, of rape prior to taking office, of sexual harassment before and during office, and he was finally impeached by the House for withholding the X rated details of his affair with a young woman. That's all stuff I can remember off the top of my head. Oh yes, and a long serving US Senator, of the Puke persuasion, publicly warned/threatened President Clinton with assassination if he were to set foot on a US military base.

Any Democrat who thought the Pukes would behave any differently towards the next Democratic President after having lived through all that -and the subsequent years of One Party Government under Bush-Cheney, Tom Delay, Hasturd and Bill Kitten Killer Frist-is a fucking fool. There can be no excuse for this 'bipartisan' bullshit.

[dennis4868]

16. Not sure if you have been paying attention the last 3 years...

the repubs DESTROYED the fillubuster record...they fillubustered EVERYTHING....cannot compare the 3 of fillubusters in Clinton's time to Obama's but facts probably does not mean much to you.

[madfloridian]

5. Question about the rest of the article.

I just get the title, no article.

That's a confusing site to quote. Yesterday I tried quoting 2 paragraphs from an article, then put the link.....I got all kinds of warnings about copyright. I just gave up and found another source.

So how did you do it? And why can't I see the article?

[Javaman]

9. try this...

http://www.ft.com/intl/cms/s/0/079ff1c6-d2f0-11e0-9aae-00144feab49a.html#axzz1WdbDJ88E

[madfloridian]

11. I only get the title.

Sometimes I can go there and read a whole article, but once I try to link there I can't view the article anymore.....even if I don't link.

I still get their emails now and then because I guess I paid to get an article....don't remember the details now. But I can not read an article more than once, and the link still just gives the title.

:shrug:

[Better Believe It]

15. Sorry. I don't understand why you have a problem. I don't have a problem with the link.

Maybe someone on the computer discussion board can help you.

What browser are you using?

I use Internet Explorer.

[madfloridian]

18. I use FF, but I just tried it with IE9. IE9 said I had to register.

I have read articles there before without having to register...though I did register before, I think. Did you have to register?

[banned from Kos]

6. I call bullshit here - Parliamentary governments can build political coalitions

there are six prominent parties in Germany for instance.

And they horse-trade for power. If we had five Green Party Senators we could accomplish something but instead we build brick walls.

[Better Believe It]

8. And here the coalition could be the Republican Party/Democratic Party unity government!

I agree that we need a multi-party system in the United States if that's your point.

[muriel_volestrangler]

12. The article is saying Merkel's problem is getting the German and other European governments working

together. That kind of political coalition can be a lot harder to achieve.

[KamaAina]

13. Mr Obama wishes to be president of a country that *no longer* exists.

Congress was not consumed by partisan rancor even during the Reagan years the way it is today. Things really started to go downhill after the repuke takeover in '94, under Newt and his Contract on America.

[sad sally]

14. Idealism is not reality - too bad.

November 23, 2005

Honest Politicians?

In these dark days at the end of the Republic, we've been trying to watch the Daily Show more often. Last night was a repeat, with Barack Obama as the guest. He's a great foil for Stewart -- witty, open, quick. Best exchange came when Stewart asked him if he feels a lot of pressure from all of the hype surrounding him. Not so much, says Obama. "I just try to do the best I can, speak openly about what I believe in. But yeah, there's some pressure -- the only person who's more overhyped than me is you!" Stewart nearly fell on the floor laughing and said that was about the best answer he'd ever heard.

So one hopes the best for young Barack and his idealism. But realistically, can it last? Politics is inevitably about compromise, and one necessarily ends up agreeing to things one would rather not in the service of attaining a more important end. Even in my small sphere of academia I run into that all of the time. I make choices about what I'll pursue, where I'll stand my ground, what risks I'm willing to take, what opportunities I'll pass up. Fortunately for me, the political stakes are relatively small (this is academia, after all) so I've never been in a position where I've felt that I've had to compromise on principle. I like to believe that if I were ever put in a position where I couldn't avoid acting unethically, I'd resign. Fortunately, I've never been tested in that way. In my world, I get to be honest and still reasonably effective.

But Senator Obama? In the snakepit that is the United States Senate, how long will it be (if it hasn't happened already) before he feels that he has to make choices that chip away, even just a little bit, at his ethical core? Where will he decide to take his stands? What compromises will he find himself forced to make?

-snip

That's the reality that someone like Obama has to face. There'll come a decision point where he can achieve something that his constituents will celebrate, but only at the cost of a bit of his soul. What will he do?

http://tscott.typepad.com/tsp/2005/11/honest_politici.html?du

[Name removed]

17. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Better Believe It]

19. And what about the two years when Congress was run by Democrats?

So he didn't get a bold public works program, a health care bill with a public option, passage of the Employee Free Choice Act, etc., because in 2008 the Republicans won control of the House and Senate with big majorities.

Right.

Excuses, excuses and always more excuses for inaction and weakness.