Summers: 'Excess of fear' must be broken

[Americanhero1]

WASHINGTON – President Barack Obama's top economic adviser says the crisis in the financial sector has led to an "excess of fear" that must be broken to reverse the economic downturn.

Lawrence Summers, the president's director of the National Economic Council, told a think tank gathering Friday that "fear begets fear" and that "is the paradox at the heart of the financial crisis."

He said an abundance of greed and an absence of fear precipitated the excesses that led to the meltdown that froze credit.

Summers said it was "modestly encouraging" that consumer spending appears to have stabilized after collapsing during the holiday season.

He spoke at the Brookings Institution.
http://news.yahoo.com/s/ap/20090313/ap_on_bi_ge/obama_economy

[arksis]

Too many have been affected now by Obamanation, there is no way to take the "fear" of it now..........this is only going to get worse IMO.

[ag337]

How ironic, because for at least the last three weeks, every news briefing that Obama has given, he has literally spoken about doom and gloom. 

Using words like catastrophic, disaster, irreparable, depression and etc. etc. etc..

Until some critics spoke up about the way Obama was bringing the country's atmosphere to a more negative tone, did he let up on some of his negative heavy rhetoric.

So, I find it extremely humorous, Lawrence Summers refers to the "excess of fear" and his own boss created it.

[arksis]

How ironic, because for at least the last three weeks, every news briefing that Obama has given, he has literally spoken about doom and gloom. 

Using words like catastrophic, disaster, irreparable, depression and etc. etc. etc..

Until some critics spoke up about the way Obama was bringing the country's atmosphere to a more negative tone, did he let up on some of his negative heavy rhetoric.

So, I find it extremely humorous, Lawrence Summers refers to the "excess of fear" and his own boss created it.

You are so right ag337! The only "positive" spin I heard about him giving, was that speech he gave at night on TV. Sorry, I didn't watch and try NOT to watch him when he's on.

[ag337]

Arksis,

About a week ago, the liberal media took notice of Obama's "gloom and doom" prophecies and they started to say things like"why is he being so negative" or "he is setting a negative tone in America".
Then Bill Clinton went on Larry King and made the statement that "Obama was doing a disservice to the country by only using negative adjectives to describe the current crisis in America".

After this, somebody from Obama's camp got into his ear and told him he's got to change his rhetoric from so negative to a more hopeful outlook for America.

So, isn't it funny only after his loyal media followers and somebody from his own party started to take notice and criticize him, that he switched it up.

But even more interesting, is the fact that the conservative media outlets who are watching Obama's every move, have consistently reported about his negativity when he speaks to the citizens of America.  But, of course, Obama could care less about the conservative outlets and mocked them (ex. Rush, Hannity, and Newt).

His precious liberal media followers, say jump, Obama jumps.
He doesn't want to lose this groups support of him.

The whole situation with Obama makes me nauseous.
Ugggghhhhhh........

[arksis]

ag, yes, I had heard that his own camp was saying how negative he was and pretty much told him to put a positive "spin" on everything that night he gave some kind of speech.

It would do them GOOD, to listen to the convervatives on the radio and to watch Fox News where they take ALL the clips of the same words he used, I just laugh.

The liberals really make me sick, you can't tell them the TRUTH about Obamanation, they just don't listen, or they change the subject. I refuse to change it and love it when they can't give me an honest answer or HAVE to agree with me. I've been trying my best to put them in their place! It's really strange though, I feel so drained after being around these people and am getting to where I don't want to go out and meet any people anymore.

I guess we just have to stay positive and hope they turn on him and SOON!