Obama Advised on Economic Issues by Governor of the State with One of the Worst Economies in the Nation

Today, my governor, Michigan Governor Jennifer Granholm met with Senators Obama and Biden, as well as a host of panelists to provide insight on the economy in order to ease the transition between President Bush and President-Elect Obama.

Granholm released a statement saying, “Unfortunately, our nation’s current and unprecedented economic challenges come at a time when the domestic auto industry has undertaken billions of dollars in investments to retool and accelerate new technology initiatives to transform its business and to strengthen its competitiveness.  These third-quarter results make it increasingly clear that under these extraordinary conditions, the industry cannot continue its progress alone.  We must support a historic pillar of our nation’s economy and help the industry bridge this period until our economy stabilizes.”

Clearly, the auto industry will be (actually, “was” would be more applicable now) a major part of what she discussed with Senator Obama (who I’m actually listening to right now, as he’s giving a press conference).

But, Mr. Obama, why on earth would you take advice from the Governor from the state with the WORST ECONOMY IN THE NATION (or 2ndworst, depending on who you ask.  I’ve heard people who claim that it’s Rhode Island, and I’ve heard others say Michigan).

I just hope Obama doesn’t do to the nation what has happened in Michigan (and I’m not blaming it all on Governor Granholm, but shse has played a major part in our economy going down the drain).  Still, I wouldn’t have her advising me on economic issues.  I used the analogy, “That’s like having President Bush give you speech lessons.”

Done Ranting,

Ranting Republican
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2 Responses to “Obama Advised on Economic Issues by Governor of the State with One of the Worst Economies in the Nation”

  1. Payday Loan Advocate Says:

    One of the largest looming issues in America today is the economy. Many are screaming for everyone to pull every investment they have out now, and that the Dow Jones is headed for the 8000s. When the average citizens hears this kind of hysteria, they tend to go along with it, and then pull their money out of the market, cut their spending, and when enough people do that, everything starts to freeze. However, there are some people who believe that we in a recovery phase of a reversionary period. Economies actually work in cycles of boom and bust, or of growth and recession rather than in a massive contraction. A video clip features economist Jeff Sachs of the Earth Institute at Columbia University; discussing the light at the end of the tunnel with Fox News, along with Dan Shaffer of Shaffer Asset Management. Sachs singles out the Feds for their efforts to thaw short term money markets, which is critical to keep businesses able to pay their payrolls and obtain working capital. Shaffer offers statistical evidence, by keeping the historical perspective that there have been 14 recessions since the crash of 1929 where stocks have plummeted 40% or more, and that is including a 49% plunge in 1973. America still survived. No one wanted to suffer again. Shaffer’s studies of the S&P and the Dow would indicate a bear market, which is a market condition in which the prices of securities are falling or are expected to fall, is here. Also, big shot entrepreneurs that have the money to invest, such as Warren Buffet, just might start investing capital now that the time is right. What has been hurt is on the road to repair, so don’t despair, don’t hide in the basement and tell the bank that any attempts to foreclose will be returned with gunfire – keep going. Don’t be afraid to spend. If you do run into some short term problems, remember that there are short term installment loans to help you out. There are always solutions. There’s an advantage in taking risks sometimes.

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  2. Khaki Elephant Says:

    Ah, but this is a great rant. As a fellow Michigander I was in disbelief about this one as well . . . and found myself dropping a few words on it.

    Looks like President-Elect Obama still has some problems when picking friends and advisors.

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