Obama inherited a difficult situation, one which he had a direct hand in creating, and then made it much worse.
While in the Senate Obama voted to protect the twins (Fannie, Freddie) from much needed reform, in a partisan move to buy ghetto votes.
Once in office Obama immediately invented obstacles to job creation, Obamacare the first up.
The Fed acted properly Q4 ‘08, H1,‘09, but then blew it through bad judgement calls.
That bring us to the present.
Both the Fed and the administration may have learned to sit on their hands. If so, and after medication is applied by the free mkt, we will prosper.
Robert Craven
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