I'm Stunned
The Market Ticker ® - Commentary on The Capital Markets
Posted 2011-01-25 22:23
by Karl Denninger
in Editorial
Ignore this thread
I'm Stunned
 

Really.

THAT passed as the "State of The Union"?

Trying to channel REAGAN?

You gotta be kidding me.

Addressing things? Where?  Freezing discretionary spending?  That's 12% of the budget - on a good day, more like 8% if you're honest.  Note - no actual reductions.

And no touch on any of the entitlements, no touch on the military, no solution for energy.

There's nothing here.

I've heard vacuous SOTU speeches, and even expect them to some degree.  But this takes the cake.  Really. 

This was one massive empty suit display, and the fawning in the media over it?  Good God.

From the Republican response:

We need to reclaim our American system of limited government, low taxes, reasonable regulations, and sound money, which has blessed us with unprecedented prosperity. And it has done more to help the poor than any other economic system ever designed. That’s the real secret to job creation – not borrowing and spending more money in Washington.

Really?

I don't believe you either.

Let's be clear: To start to pay down debt you will have to cut over $1.7 trillion dollars of spending in the next 12 months.

You're both lying.

As usual.

Discussion below (registration required to post)
 

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User Info I'm Stunned in forum [Market-Ticker]
Icanhasbailout
Posts: 9939
Incept: 2009-03-10
Green A True American Patriot!
Imaginationland
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His economic plan is "hope for a technological breakthrough like the Internet"

not very reassuring

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Randy123
Posts: 5767
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Green
Earth
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Can't take that SS check away from grandma, therefore inaction continues...

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China is the Enemy. Wake Up.

New Normal. Same As The Old Awful.
Seaterk
Posts: 174
Incept: 2009-04-30
Green
Los Angeles
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Well his campaign was all about HOPE and change so hoping for an economic miracle is at least consistent. I long ago gave up even listening to politicians (D's or R's) since they are all lying to you.
Medicdan
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Green
Scottsdale, AZ
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Yup. We all said the same thing here as we were watching it.

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Landshark
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Welcome to Taco Bell. All filler, no meat. Enjoy your burrito!smiley

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Success in life is a matter not so much of talent and opportunity as of concentration and perseverance.

– C. W. Wendte
Bagbalm
Posts: 4248
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Green
Just North of Detroit
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His economic plan is "hope for a technological breakthrough like the Internet"

Somebody better make cold fusion work - quickly.

Reason: add quote
Patentleathershoes
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Gold A True American Patriot!
On the Daisy Chain
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There was no "how" we will do things at all.

Just bad all of the way around.

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"An unborn child's property rights are protected by law. His right to life is not." Ronald Reagan
Spiritof76
Posts: 41
Incept: 2010-12-07

Charlotte
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I want the 72 minutes of my life back. Considering where we are as a nation I think that blowing sunshine up the collective ass of the citizenry is nothing more than a slap in the face.
Mschemeng
Posts: 180
Incept: 2010-10-03

Toronto ON
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sounds like Republicans will play chicken with debt ceiling...how does Benny keep monetizing, if average bond issue turnaround is couple of weeks?

oh, and they have to ban tanning beds in DC, both Biden and Boehner match Obama skin tone...
Cheapbastud
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Green
Rainbow Star. Pay no attention to the green star
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I didn't watch it. Was there any mention or hint at a VAT?

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limit(r-->m) k(r) = b


Txin1880
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Green A True American Patriot!
Texas
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Innovate mother****ers innovate, ignore that boot on your neck and just innovate some new ****

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Realization - Rage - Resolve - Rifles - Rope - Recovery - Rinse - Repeat
Phantomace
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Green A True American Patriot!
Las Vegas, NV, and your screen
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The State of the Unicorn AND the Repub response is easily summed up...

smiley

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"That was a little trick I call math. Oops, now I'm not emotionally invested..." - Dilbert
The only good thing I have to say about Barney Frank is at least he's not breeding...
Infidel
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Incept: 2007-08-27
Green A True American Patriot!
between here and there
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SOUSB, State of the Unions Sound Bites.

The day has long passed that "speeches" were given.

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"DON'T BELIEVE THEM, DON'T FEAR THEM, DON'T ASK ANYTHING OF THEM." -ALEXANDER SOLZHENITSYN.

No1ninja
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Never seen anyone talk so much and do so little.



-We will create jobs, but we will eliminate multiple government agencies.

Okay.

-We can lower the corporate tax, by closing loopholes and in turn gain more revenue.

Ummm... were you saving those loopholes for a moment such as this? This just came to you now?

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http://www.wikileaks.fi/cablegate.html (alternative mirror #2)
Kylafoon
Posts: 2455
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Gold
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Empty, anemic, not founded in reality.
That was the most pathetic SOTU of all time
That SOTU delivery was to placate the mouth-breathing media.
It was simply to buy him more time before a white hot light
finds him scurrying for cover with all of the other cockroaches.

He is striving to rule by decree. He has that with Exec Orders and veto.

How does it feel America when the person you have chosen to
represent your nation is at best mediocre?

None of this will end well...


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"...But whenever we see things done wildly, but taken tamely, then the State is growing insane..." - Gilbert Keith Chesterton 1910

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008
Cprince
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Green
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Taxing is easy..cutting and doing the right thing is hard..I didn't even watch it...I could bear to hear the bla bla bla....what happens when the Ticker educates you

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IN
Landshark
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He really likes that term "This moment". We should add this to the drinking game.

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Success in life is a matter not so much of talent and opportunity as of concentration and perseverance.

– C. W. Wendte
Mari
Posts: 1012
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Central MD
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I didn't watch, except for 30 seconds here and there. I did see that McCain and Kerry went to the SOTU Junior Prom (as Michelle Malkin is calling it) together. Shudder to think what they were cooking up...

Unfortunately, our President is not qualified to handle any economic or military matters but isn't smart enough to realize it. Most of the Congress would be lost and on the welfare programs they either castigate or fiercely protect if they had to prove themselves in private industry. If we are depending on these people to lead us out of economic difficulties, we are in a world of trouble. They need to get out of the way, stop passing laws that protect their donors, and let those of us who have a freaking clue how the real world works get on with our lives and our work. They'll never do it because they think they know everything and aren't smart enough to know how very little they do know. Any member who has been in Congress more than 10 years has been there too long.

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I bleed purple and orange!
Drench
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Anderson Cooper 360 on CNN: Polling and audience reactions to parts of the speech.

Polled 475 Americans who watched, mostly Democrats watched, most came away with very positive reactions to the speech. 77% said it made them feel more positive about America.

Mari
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Drench,

Did Cooper say if these people were playing the SOTU drinking game? That could explain why they had a positive feeling...

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I bleed purple and orange!
Patentleathershoes
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"An unborn child's property rights are protected by law. His right to life is not." Ronald Reagan
Widgeon
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I feel more positive about dropping an upper decker in the morning too.

Downside
Posts: 1797
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Green
Left Coast
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My impression of Obama is that he really doesn't understand any of the issues in depth and just has his speech writers mash together the consensus view of the technocrats in his cabinet into something he can say on a teleprompter. He doesn't really have any vision or even an ideology. It's just a fun job to him and he muddles through like someone at the office cooler trying to repeat what he read in the Economist last week.

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“Sometimes a concept is baffling not because it is profound but because it's wrong.” - Edward O. Wilson
"Hardly anyone will understand a genuinely novel idea and no one will believe it works."
"After home prices go down to one-tenth of the highest price homeowners paid, then buy." - Sir John Templeton

Dashingdwl
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They all suck.

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When you are hard and disciplined, you can be principled. People fear you because they have no leverage against you. It's the truest form of Liberty.
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