Obama hails summit as 'turning point' for recovery

Friday 03rd April, 03:04 AM JST

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skipthesong at 01:07 PM JST - 3rd April

I think Obama needs to be given more than a two month chance to prove things, particularly given what he inherited when he took over. If things haven't changed in a year or so then the 'turning point' speech will be somewhat funny in retrospect" that's true in a sense, however, what I find to be a problem is that some of the who have been part of the problem are still there and in fact getting praise.

I also think one needs stop using the "inherited" excuse. All candidates knew well what they were getting into. To me, its sounds like a lack of coinfidence. People tried using Bush inherited terrorism against the US card... I didn't buy into that either. He knew they were out before he became president. But still, its not Obama, just as much as I don't blame Bush for the entire or even much of the finance mess, I don't blame Obama. His administration however, I do. If we don't get out of this mess within a year, I still won't solely blame Obama, unless we still got the same people there.

I still find it sad, though, that so many bitter Republicans on here would rather see Obama eat his words than the economy actually improve." Well, I hate to say this on such a good day for me, but really what are the goals and strategies laid out. Right now, many believe what they are hearing and really this is very little coming out of anyone to refute those accusations. If the accusation remain believable, then wanting him to fail is not such a bad thing. Recently we have been hearing a few dems who stated the same thing about Bush that have been quieted down and could possibly be one of the reason the remarks by that fat dude are not heard that much in the past two weeks.
frontandcentre at 01:20 PM JST - 3rd April

The only bad news is that Gordon Brown will be crowing that he's "saved the world" again, when in fact he has ruined the investments and savings of millions of Britons through his inept economic mismanagement over the past 12 years...
adaydream at 01:30 PM JST - 3rd April

Well, I've been enjoying watching the markets going up slowly. It was in the 8000s before it fell to 7900+. He may now be solving world peace, yet, but he ain't doing everything wrong.

Then he goes across the big water and makes wompom with other leaders. He's doing what I voted for him to do. < :-)
skipthesong at 01:34 PM JST - 3rd April

Well, I've been enjoying watching the markets going up slowly." Aday, are you watching or are you putting cash into it? Or are you just following CNN?
GJDailleult at 01:40 PM JST - 3rd April

How the hell can you explain to me that a woman who drives a bus for a living can afford an 800,000 USD house?

That's a very simple question to answer. Somebody was in the business of selling debt, either to other Americans or exporting that American debt around the world. So they needed somebody to take on the debt so they could sell it, and a bus driver is as good as anybody else for that. They weren't in the business of collecting the debt, so they didn't care about that. That was what the foreign sucker buyer was there for, to hold the bag.

Anyways it was fun while it lasted, having the rest of the world subsidize the USA. Now that is all over, and the USA (consumers at least) will have to "live within its means". Good advice that, and I agree that is what individuals should do. If it is to good to be true, ie. like 800,000 dollar home loans given to you, you are obviously going to get screwed in the end. The problem for the USA and other countries too, is just what exactly are those "means" now in 2009. We're going to find out soon enough, and it might not be very pretty.
SushiSake3 at 03:28 PM JST - 3rd April

The sharemarket's up.

It's all Obama's fault, ha ha. :-)
SushiSake3 at 03:35 PM JST - 3rd April

Altria - "Just talking up the economy again..."

Heh, when the last president was talking up the economy, it tanked into the worst recession in 80 years. President Obama doesn't have a very high benchmark to beat. :-)
tclh at 03:39 PM JST - 3rd April

Why it is a "turning point" but "there is no guarantee?". It is like Forex market ,up any time and down any time...in other words President Obama has no idea.
SushiSake3 at 03:39 PM JST - 3rd April

TrappedNTokyo - "...but I am willing to bet that the average american household is in debt."

You bet. The last time I read, Americans on average had an average savings rate of 0.2%. Beat that!

"I know that there are people that make due on their debt and pay what they owe, but there are alot of people that do not. It's time to stop blaming everything on other people and start looking at yourself sometime."

Bang on the mark - good common sense post.
skipthesong at 04:21 PM JST - 3rd April

It's time to stop blaming everything on other people and start looking at yourself sometime." sadly, that is no longer the American way. Most Americans would prefer to have a government do everything for them.
some14some at 04:57 PM JST - 3rd April

Turning point without any guarantee? means, 'Palace Party' is over and delegates are returning home. Accept Economy "as and where it is". Now we will have one more party after Easter Holidays !
SushiSake3 at 05:00 PM JST - 3rd April

Skipthesong - "Most Americans would prefer to have a government do everything for them."

Not quite.

Sadly, after decades of living beyond their means, it's come to the point where many Americans **NEED **the government to do things for them.

The crows have well and truly come home to roost.
tclh at 05:24 PM JST - 3rd April
- "Most Americans would prefer to have a government do everything for them." Same for Australia. I think one reason for this is because the society simply has faar ,far tooo many laws.
ca1ic0cat at 09:10 PM JST - 3rd April

They keep declaring the crisis over but the layoffs continue. The crisis may be over for the bankers but for the auto workers it is just beginning.

Not only have the Americans been living beyond their means but the US government has been doing a good job of it as well. Two unfunded wars, tax cuts and increased spending do a good job of bankrupting the government. It's a democracy (OK, republic) we get what we deserve.
SushiSake3 at 11:30 PM JST - 3rd April

Sarge, you're wrong and Americans know it.