Modernizing Conservative Republicans and informing you of the events and elections.
CrimsonPolitics no longer supports neither the Republican Party nor the conservative movement (nor the tea party movement) nor the libertarian movement any longer. We've found that progressives and Democrats are simply more correct on a huge number of issues (social, economical, foreign policy) and we have changed our stances as a collective group. We also apologize if we mislead you about Obama, he has been doing a great job on the economy based on the evidence. (we still do not like Nancy Pelosi though, she is still corrupt; but honestly Newt Gingrich and John Boehner are much worse)
We Have Nothing to Fear but Fear Itself
Recently, Barack Obama has been trying to solve the economic crisis through his stimulus package. Now that the stimulus has passed Obama has to make sure the money is actually used to stop the hiring freeze and free up credit. This is a difficult task, but more importantly, confidence needs to be restored in the market. Instead Obama has been spreading more pessimism.
Obama fears being labeled as someone who failed to prevent the financial crisis from getting worse--instead of actually fixing the problem, he is busy spreading pessimism in order to lower expectations.
Lowering expectations would be a good strategy for a transition period but once in charge of the economy, Obama must promote a president Roosevelt strategy of restoring public confidence in the market. When president Franklin Roosevelt made his speech about how "we have nothing to fear but fear itself," it was addressing the psychological panic behind the economy and market.
Recently in Florida, Obama lowered expectations instead restoring confidence once again:
It's gone deep. It's gotten worse...The situation we face could not be more serious.
When more details were given about the stimulus package, stocks fell another 382 points, because the details of the plan were too meager.
Obama should be emphasizing that we will solve this crisis and that he does have a solution. Obama should be listening to Republicans and Democrats to come with a strong combined solution for the problem rather than a specific method.
A pragmatist that Obama claims to be should be asking the advice of all economists, from whatever side of the political spectrum. Put them in a room and make them argue and come with a compromise.
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