Obamanomics - new buzz word for you

From Businessweek:

It's never easy to separate politics from policy, and the past 18 months have only increased the degree of difficulty. The U.S. has been through a historic financial crisis followed by a historic election and a series of historic federal gambles—from bailing out AIG and GM to passing a $787 billion stimulus and a $940 billion health-care reform bill. All that risk has made policy more complicated and politics more fraught.

A Bloomberg national poll in March found that Americans, by an almost 2-to-1 margin, believe the economy has gotten worse rather than better during the past year. The Market begs to differ. While President Obama's overall job approval rating has fallen to a new low of 44%, according to a CBS News Poll, down five points from late March, the judgment of the financial indexes has turned resoundingly positive. The Standard & Poor's 500-stock index is up more than 74% from its recessionary low in March 2009. Corporate bonds have been rallying for a year. Commodity prices have surged. International currency markets have been bullish on the dollar for months, raising it by almost 10% since Nov. 25 against a basket of six major currencies. Housing prices have stabilized. Mortgage rates are low...

Little more than a year ago, financial markets were in turmoil, major auto companies were on the verge of collapse and economists such as Paul Krugman were worried about the U.S. slumbering through a Japan-like Lost Decade. While no one would claim that all the pain is past or the danger gone, the economy is growing again, jumping to a 5.6% annualized growth rate in the fourth quarter of 2009 as businesses finally restocked their inventories. The consensus view now calls for 3% growth this year, significantly higher than the 2.1 % estimate for 2010 that economists surveyed by Bloomberg News saw coming when Obama first moved into the Oval Office. The U.S. manufacturing sector has expanded for eight straight months, the Business Roundtable's measure of CEO optimism reached its highest level since early 2006, and in March the economy added 162,000 jobs—more than it had during any month in the past three years. "There is more business confidence out there," says Boeing CEO Jim McNerney. "This Administration deserves significant credit."

It is worth stepping back to consider, in cool-headed policy terms, how all of this came to be—and whether the Obama team's approach amounts to a set of successful emergency measures or a new economic philosophy: Obamanomics

Full story:
Why the Obama Plan Is Working - BusinessWeek

So now you know

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Good post - thanks Steve

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Well, spending/buying is great (who doesn't love a good shopping spree?).

The problem happens when the bill comes due - which we've yet to see materialize.


Can't keep spending, borrowing, and spending more - without it coming back on you.


Reckon we'll find out one way or the other.

yup, and thats where we are now in the UK Election time and none of the parties wants to be too honest on how they will pay UK PLC bills if they get into goverment.

Politics... same the world over

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All the politicians (like all politicians) in the UK are saying what they think the public wants to hear. However, the average Joe is not totally stupid. They know sacrificies will need to be made and things will be tough for while but it will get better. I would prefer to hear that.

Ahh so you mean honesty instead of politics, not normally 2 words associated in the same sentence

Glad to have you aboard, I recognise your goodself from various forums

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cheers Steve
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Thank you. I saw your Twitter message about getting page one on SERPS and thought I would check it out. I like it.