Posted on 03/03/2009 5:14:13 AM PST by grayhog
As the Dow keeps dropping, the President is running out of people to blame.
As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem. Americans have
(Excerpt) Read more at online.wsj.com ...
This editorial nails it. Key points:
“Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it’s become clear that Mr. Obama’s policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery.”
“The market has notably plunged since Mr. Obama introduced his budget last week, and that should be no surprise. The document was a declaration of hostility toward capitalists across the economy.”
Will Obama do anything substantive to help the economy?
The dismaying message here is that President Obama’s policies have become the economy’s problem.
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Above a slight change to a sentance in the article.
As the Dow keeps dropping, the President is running out of people to blame.
Oh come on.
The Socialist and the lapdog media will never get tired of using George Bush as a whipping boy.
The media is invested in Obama and will prop him up on a daily basis.
“Will Obama do anything substantive to help the economy?”
Why, everything is going according to plan. More disaster, more cries from the lowly proletariat will require more control and salvation doled out from the state.
Obama and Rahm are pleased. It is the future of the real socialist man that couunts, not the cries of the proles today.
Obama is an ideologue. He proved that in discussing the negative outcome to the Fed coffers on capital gains taxes. His economic advisors finally tamed his remarks on it before he took office, quieting him. But it wouldn’t last.
Most of us knew that. The only surprise is the sheer bravado in lying in what he is doing. The reality does have to filter out to Americans. This WSJ article is a great beginning.
It’s like shining the truth on the obvious. If this were the earlier President you’d see the Rats and their extreme remarks all over the media. But now, nothing but silence. Idealogy trumps all with them too.
Obama is and always has been an empty suit with a big mouth, Constitutionally unqualifed to be POTUS. I don’t expect him to last his first term.
What did Dicky Gephardt say? Pick up a seat for every 100 points lost? I guess that just means Democrats....
I’m revising my predictions ...a 5,000 Dow, by the end of this year and a 4,000 Dow by the end of 2010. We can all kiss our IRAs and pensions funds goodbye and pray we are old enough to still get what is left of Social Security.
Isn’t this the truth. The MSM have not even tried to hang this on Obama. You can bet that if a Republican were in office, there would be a flurry of stories recounting how the Dow has dropped since the new President has taken office.
This will be similar to the Soviet economy or the Cuban economy. 5 year plan after 5year plan. The golden Goose is being roasted for a White House dinner and the communists are here.
I think you could be right. Nowadays, cash is not only king, it is queen, jack, and ace.
Contrary to the WSJ, I take this as great news. Obama's policies are a disaster and if they can be derailed, so much the better. This country does NOT need the package of economic policies outlined by Obama. The ONLY thing needed are real, sustained, and significant tax cuts. Doing that would change consumer expectations about their disposable income, leading them to make purchases of durable goods, which usually lead the economy out of a recession.
Instead, what we get are plans to reward cronies who put him in office. Why should I pay for a maglev train that runs between LA and Las Vegas? If Harry wants the friggin train, let CA and NV pay for it. There's so much pork in the "stimulus package", I'm surprised there's enough bacon in stores for breakfast.
Taking money from the productive sector of the US economy and doling it out to the unproductive sector or to reward cronies who got you elected is not aimed at the best interest of the US. I know it...you know it...and, sadly, he knows it, but he persists anyway. We are so screwed...
Has Castro? Has Chavez?...
The sinking stock market is only the beginning.
Wait until housing and land prices tumble — in spite of all the tricks Bambi and Timmy attempt.
And tumble they will.
I’m convinced that the bottom won’t be put in until real estate takes a real bloodbath. Not just in CA, AZ, FL, and NV, but nationwide. When that happens Bambi will become a notorious household name, never heard alone but always prefaced with “that sonofab___h Obama”. Along with Bawney Fwank and Cwiss Dodd.
Don’t know when, but it’ll be sometime before 2012. Hope it’s before the midterms, but not likely.
Capitalists don’t like socialists.
Earth to the WSJ: Barack Hussein Obama couldn’t give a crap about the sinking market. This is all part of his grand Sorosization plan to plunge the globe into a depression, and to become the King of the World. He will then get the Constitution changed and be president as long as he lives. Well, the latter isn’t going to happen, but you’d better believe it has crossed his sick mind.
MSM, maybe not, but financial shows are blasting Obama (with the exception of a few analysts.) Even those that were Obama cheerleaders and speaking directly to the President, on air, and begging him to intervene by stopping his crazy budget plans, or buy toxic assets, etc. I heard no less than 4 analysts on the business channels speak directly to Obama yesterday (on air that is) and give him suggestions.
Obama’s fault
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