Behold The Achievements!


Don’t look to Jan Hatzius, the highly respected chief economist at Goldman Sachs, for a pep talk on the near-term state of the economy. As he writes in a client note today:

We see two main scenarios for the economy over the next 6-9 months — a fairly bad one in which the economy grows at a 1˝%-2 percent rate through the middle of next year and the unemployment rate rises moderately to 10 percent, and a very bad one in which the economy returns to an outright recession. There is not much probability of a significantly better outcome. The reason is that “short-cycle” factors such as the inventory cycle and the impulse from fiscal policy are likely to continue deteriorating through early 2011, keeping G.D.P. growth very sluggish.

(Emphasis supplied.) Welcome to your new reality.

Speaking for me only

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  • Display: Sort:
    wow (5.00 / 2) (#2)
    by The Addams Family on Wed Oct 06, 2010 at 01:52:31 PM EST
    what a pathetic load of b.s. from the president

    that woman's face tells the whole story as she listens to his non-answer

    & no mr. president - times are NOT "tough for everybody right now" - for your friends who run the banks & own the country "times" are just fine

    Things are going just great financially (5.00 / 1) (#3)
    by MO Blue on Wed Oct 06, 2010 at 02:01:03 PM EST
    for the president and members of Congress as well.

    I seriously hope that ... (none / 0) (#1)
    by Robot Porter on Wed Oct 06, 2010 at 12:44:31 PM EST
    Obama had a cold or something during that appearance.

    Because we're in real trouble in '12 if this is the best we can expect from him.

    And that was in response to a softball question.

    I can (none / 0) (#4)
    by Ga6thDem on Wed Oct 06, 2010 at 03:13:20 PM EST
    completely related to the lady. We had beans and franks the other night for supper. Anyway, he talked at the lady not to her.

    And didn't you just love (none / 0) (#5)
    by Anne on Wed Oct 06, 2010 at 03:57:47 PM EST
    the big laugh and grin from him when she started to express her frustration?

    Maybe he was taken by surprise hearing from someone who isn't happy, but it was jarring for me - there was nothing in this woman's demeanor and body language that suggested she was at all amused by where things are right now.

    And his response was less-than-adequate, talking, as you say, at her rather than to her - she might as well have been the teleprompter stand for all the real connection he made.


    you don't get it (5.00 / 1) (#7)
    by NYShooter on Wed Oct 06, 2010 at 05:55:40 PM EST
    (going through Obama's mind)

    "There they go again......whining, whining....what do they expect me to do?"


    Obama (none / 0) (#6)
    by kmblue on Wed Oct 06, 2010 at 05:42:52 PM EST
    Mr. No-Empathy

    Yep. (none / 0) (#9)
    by Ga6thDem on Wed Oct 06, 2010 at 06:12:50 PM EST
    He has no empathy but you know what? That could be overcome with good policy but not having empathy right now and making poor policy decisions is a recipe for disaster.

    Prediction is not probability (none / 0) (#8)
    by abdiel on Wed Oct 06, 2010 at 06:05:47 PM EST
    I think we should be taking the note with a larger grain of salt.

    Be persuaded by the argument if you'd like, but don't take it as anything more than your astrologer telling you he doesn't think you'll find love in the next year.