Posted on 03/05/2009 7:20:14 PM PST by MindBender26
I would ask my fellow FReepers' indulgence with this naked vanity post.
It's time we all realized something. Wall Street's plunge is not about GM, Chrysler, Citadel or any other individual company.
It is not about any group of companies or any sector of the market.
This is about Obama. It is the investor's realization that Obama does not have even most elemental set of skills to manage the economy. None of those around him have the skills, experience or wisdom either.
Stop and think; if his advisors couldn't get their own taxes right.... or weren't smart enough to hide their own tax cheating, how could they ever begin to manage a national economic system?
Worst of all, behind closed doors, are investors beginning to ask, what if Obama wants to destroy America? What if Obama and those who have supported him for 30 years intend to destroy America?
In 45 days Obama has wreaked more havoc on America than a dozen 9/11s. To kill this country, they don't need Al Quida, the Taliban, one bomb or even one AK-47. All they need is one man.
Remember the movie "Rollover?"
What if this all isn't a natural economic function...
What if it is all on purpose?
The stock market thrives on hope, real hope, and crashes on the lack of it. This began last fall when leading investors realized Obama might actually become President.
How much hope can there be when the one at the top is praying... or preying... that we lose.
Of course, there is no chance that this could be Obama's plan.... is there?
Is there?
Ding Ding, Ding Ding...another winner.
You have guessed correctly
When you begin to believe that this is some complex issue, you are already playing into their hands.
Wall Street is a huge crap shoot. It is gambing, nothing more.... and the smart money says it is going down!
GM, CITI ????
I have a toll bridge, spanning the Snake River, available on a long term lease-I am willing to sell at a reduced price!
.. send me your contact co-ordinated...
This has been building for at least 10-15 years. Yes, his "response", such as it is, to this mess sucks, but he didn't cause it.
Hmmm, America's enemies have varied paths and objectives.
Suffice it to say that I would love to feel that Obama held this country's security, traditions, economic well-being, freedoms, and constitution-based government as primary reasons for getting up each day.
And, sadly, I can't point to any behavior that leads (perhaps yet) to that conclusion.
.
He said several times during the campaign that he was going to change this country “block by block by block.’ The first time he said it, I started selling.
It is a good video. But it barely mentions one aspect of the crisis and completely leaves out another aspect.
The video gives the impression that banks ran out of credit-worthy potential homeowners to lend to and then started looking for less-worthy (a.k.a. risky) potential homeowners to lend to simply out of pure greed.
The revisions to the Community Reinvestment Act in 1995 caused political and financial pressure to lend to people with risky credit while at the same time making those loans affordable to said group of people.
Banks didn’t just dream up zero-down mortgages and the like simply to make more profit. They also did so to make mortgages affordable because that was their mandate from the government.
This crisis was caused partially by leverage and greed, but it was also partially caused by government regulating who should be able to own a home when they really shouldn’t.
I retired 3 years ago. Started drawing SSI at 62. My first check was 1,450. I put each check in the stock market since. My nest egg got up to 108K.. Purchased all good stuff. IN 50 days my egg “fried” to a flat 38K. I have not given up and gone into hiding with my SSI check. I get my check ( now up to (1,600) on the second wed of each month. I have been “bottom Fishing” for the last 3 months. Picked up 1600 shares of Citi yesterday for a Buck each. I Also got a lot of REIT’s, etc. I went thru this in ‘87. Had to wait 5 years but It came back. This may not work this time but I am happy that I did not wait till I was 65 to start collecting my “pension”. I did not buy GM.... My company is getting stronger orders at this time. and margins are going up. Just like in ‘87. We work with Govt. and Pharm. research companies.
Maybe the only way michelle can continue to feel proud of her nation once again is if her husband succeeds in destroying our capital market system.
Their years of Rev Wright and hating whitey and America coupled with their begining their political career in the very home of TERRORIST BILL AYERS says more about this insipid couple than we ever needed to know...the press just kept their dirty belief system HIDDEN from the average joe who wants to believe in his or her media.
I thought the Hokey Pokey was what it's all about.
That is the problem. He is trying to “manage” the economy. “I’m with the Government and I’m here to help”-scariest words in the English language according to Ronald Reagan.
I am hoping that, when the military sees a definite, imminent national security threat, they will remove that threat.
It must be pretty good. I just went to the local library website to search it. Twenty-six copies (throughout the county) in the holdings and ALL are either checked out or on hold!
OK, I can believe that. But why did it bubble? The CRA? Fine. We are spending trillions of $$ to fix this. Why not have a high level commission that can lay it all out and maybe we can avoid this mistake in the future? But someone does not want anyone with subpoena power looking deeply into this. That makes it highly suspicious, IMHO.
“This is about Obama. It is the investor’s realization that Obama does not have even most elemental set of skills to manage the economy. None of those around him have the skills, experience or wisdom either.”
Nobody can “manage” the economy. If you think economies can be managed successfully you are a socialist. He is a socialist and is purposefully working to take total control of the government for himself.
I got it for $10 at Wal-Mart, and now I am trying to figure out who to give it to next. All my friends have already sent it. If you want to email me your address, I will send it to you. There’s lots of criticism surrounding the Shack - particularly from literalists and dogmatists. Jesus knew all about those folks.
They left out WAY more than that one important thing but the video serves as a clear, easy to digest introduction to the credit crisis. We have a deep body of people here who think the market turns on a dime and began falling JUST BECAUSE Obama was nominated and elected. This is patently false.
The purpose for posting this video is in the futile hope of showing these people that the liquidity crisis that is now a full blown economic crisis is decades in the making, most especially the huge liquidity that we were flooded with during the housing bubble. This is Greenspan/Clinton/Bush, NOT Obama.
The economy will suck and Obama will be a one-term wonder. I hope the next president is not a bigger socialist. I like the way people are blaming Obama for this, so he doesn’t get elected. But I like informed people and people need to know that this crisis is decades in coming and results from massive debt in the system that is now being destroyed. The market collapse and economic hardship is not due to Obama. It’s just not.
That said, he is making things worse and he may be adding to the collapse and making it accelerate. But the economy is going to go in the tank where it needed to go to purge itself of the massive debt it needed to get rid of eventually. All Obama is doing with his idiotic policies is taking us there a little faster.
No, the stock market is not “gambling”. Not even close. The stock market is a leading indicator. It is a prediction of things to come in 6 to 12 months. When a stock rises in value, it is a collective prediction that earnings for that company are going to rise. If stock values go down, it is a collective prediction that earnings are going to go down.
The collapse in the value of the stock market today is nothing but a way for all investors collectively to say “earnings will be horrible for the next year or longer”. The stock market will recover, someday. When that happens, the cause will be that most investors think that economic growth is on the horizon and that earnings will be rising in 6 to 12 months.
It is a shame you refuse to understand the cause of the crisis explained so clearly in the video. Refusing to understand that prevents you from understanding the reality of what is happening. I’m sorry I could not get through to you.
I’m also an idiot for trying to inform you and inform so many others here. It is futile to take people who refuse to see things in any other than purely partisan political terms. Pure futility. People like you are the source of my deep frustration. I was screaming all through 2007 for Freepers to get completely out of the stock market, but like you, they refused to become knowledgeable. This is too frustrating. I am an idiot for even trying.
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