Barack blogs! [update 3: The stimulus edition]
President Franklin Roosevelt used his “fireside chats” to sell his perfidy to the American public. President Obama is using a new blog – and according to reports “the blogosphere is abuzz” about it. Do the powers of the Obamessiah never end? He heals the sick; he heals the planet; he stops the waters rising; he meets the media … and now in his spare time, he blogs! Phew. Even his namesake rested on the seventh day.
But if you think that’s Barack on the blog and not just a panoply of press releases, then you probably also think he’s going to “lead” the US out of recession – in which case, I have a stimulus package right here that I see you’re already buying.
UPDATE 1: Speaking of stimulus packages, it seems Obama's economic advisers have been reading The Onion, which has several "ideas" for stimulus packages to reignite the US's bubble economy...
"What America needs right now is not more talk and long-term strategy, but a concrete way to create more imaginary wealth in the very immediate future," said Thomas Jenkins, CFO of the Boston-area Jenkins Financial Group, a bubble-based investment firm. "We are in a crisis, and that crisis demands an unviable short-term solution."Have the advisers been reading The Onion, or has The Onion just been reading Keynes?
...According to investment experts, now that the option of making millions of dollars in a short time with imaginary profits from bad real-estate deals has disappeared, the need for another spontaneous make-believe source of wealth has never been more urgent.
"Perhaps the new bubble could have something to do with watching movies on cell phones," said investment banker Greg Carlisle of the New York firm Carlisle, Shaloe & Graves. "Or, say, medicine, or shipping. Or clouds. The manner of bubble isn't important—just as long as it creates a hugely overvalued market based on nothing more than whimsical fantasy and saddled with the potential for a long-term accrual of debts that will never be paid back, thereby unleashing a ripple effect that will take nearly a decade to correct."
... "The U.S. economy cannot survive on sound investments alone," Carlisle added.