Tuesday, January 12, 2010

Bye Bye Corzine. Is Obama going to follow?

With Obama now the the helm for one year I think that it is only fair now to say that this mess of an economy is his problem now. He has failed to make much headway on the economy. Job growth is non existent. The real-estate market is still falling. Commercial real estate is falling next and new construction has ground to a halt.

When you look back on the first 10 years of the new century to me it is clear that a very high percentage of the jobs that were in the economy related to real estate. Construction, Mortgage companies realtors. appraisers. title companies attorneys and many others all depending on a building boom that went on for many years. These jobs are now gone and in all likelihood will never be replaced. With the economy still suffering from high unemployment, high mortgage delinquency rates and a few new jobs being created there is little chance that we we see much change in the next year.
Obama has let the big money center banks call the shots. His continued support of Ben Barnanke and Tim Guithner make it clear that he does not want to disrupt the markets. To me this is a sign that he is playing right along with the game that has gone on for years. The game is what's good for Wall Street and big Business is good for America
The silly debate over how much money bankers are making clouds the problem that the banks are causing. They are stealing peoples money left and right and no one in charge of the government does anything about it. We worry not about the people who are being tossed from their houses we instead worry about how big a bonus that executives should get.

The problem that faces the economy have everything to do with big business being allowed to got unchecked at the expense of small business and the consumers. Obama continues to listen to the talking heads he sees on TV and not the average person.

As one of Wall Streets boys John Corzine spends his last day in New Jersey Obama should look at his fate as it may be his in 3 years if he does not wise up.

Obama needs to do more things for the little guys and forget about the big businesses.

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