Posted on 10/11/2008 3:32:52 AM PDT by gaggs
Evaluation: Market Meltdown Caused By Fear Of A Socialist America
well, that sounds to me to be counter productive....Melting down of the market is a sure invitation for the FDR's or Obamas of the world to come in to 'fix' the problem...
I detest socialists. I am mad aa hell, because a lot of people lost a lot of money that they shouldn’t have. I heard John Gibson say on his radio how that the President went to Conrgress and asked them to address Fannie Mae and Freddie mac SEVENTEEN times.
One of the analysts on Kudlow’s show even brought this up a couple days ago. He was talking about the volatility in the market, and I believe it was the day after the debates. He said he was wondering if Wall Street was showing their “fear” of an Obama Presidency.
Of course the pollsters will tell you Obama’s numbers are going up because Wall Street is going down.
Unfortunately the only candidates are a socialist and a marxist. Pick your poison.
On Rush Limbaugh’s page:
Fear of Obama Presidency Hurt Markets; McCain is the Solution
October 10, 2008
RUSH: And greetings to you music lovers, thrill-seekers, conversationalists and people like me, seriously considering a second job. The markets the way they are, I think I’m going to hire myself out as a guy that goes around to rich people’s houses and say, “Look, for five bucks an hour I’ll drive your car around the block just so that tires don’t get flat.”
RUSH: And, of course, you know what Open Line Friday means. Means essentially that I, your beloved host, takes one of the greatest career risks in all of major media — that is, turning over the content portion of the program to you when we go to the phones. Of course, I am a highly trained broadcast specialist and you’re not. But that doesn’t matter because it’s always fun, so here’s the telephone number, 800-282-2882. The e-mail address is ElRushbo@eibnet.com.
Get this. Get this. Just hot off the Bloomberg wire: “Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world’s financial markets while they ‘rewrite the rules of international finance. The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,’ Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ‘can’t just be for one country, or even just for Europe, but global.’” I still find it just fascinating all this is happening 25 days before an election. I’m going to tell you something else here, folks, about this that I think a lot of people are missing — well, a lot of commentators are not saying. I think a lot of people get it. I think a lot of people understand this. But part of this sell-off is, I think, from smart people who are scared to death Barack Obama is going to be elected president. He is promising to raise taxes all over the place. He’s promising to raise capital gains taxes. You got a lot of people, they see this happening, “I’m going to take the profits from what they are now and wait ‘til after the election to see what happens.”
If you live in a state that has an income tax, you’re going to have to add that income tax to Obama’s top marginal rate of 50%. That’s what it’s going to be. Now, one thing that makes me curious about this is, you know, there’s a new Democrat Party today. The Democrat Party is not made up of all these union blue-collar down and out downtrodden people. I mean most of those are still Democrats, but the Democrat Party today is the party of the elite leftist rich, and they are typified by Obama. The elite leftist rich are just like everybody else, they have seen — depending on how much they are invested in equities — they have seen the value of their assets plummet anywhere from 20% to 30% here and it may go all the way to 40% before you get some kind of correction here in the market. Now, I don’t know if people who lose that kind of money are then going to sit around and be happy about paying even more to Barack Obama to fund his wildly socialist programs that he intends to grow the government with. I think Wall Street’s afraid of an Obama administration.
A friend of mine who is in the know on these kinds of things said, “On election night, keep a sharp eye on the Asian markets. The Asian markets, 12 hours ahead of us. If it looks like McCain’s going to win, you’re going to see the biggest rally you have ever seen. If it looks like Obama’s going to win, may not be much more damage, ‘cause by then, how much more damage will there be able to be inflicted?” I’m just, “Okay, okay, okay, okay.” I said this yesterday, and I believe this to be true today. It will be true for the remaining 25 days. This is an issue on which McCain can win. Frankly, my friends, I’m getting tired of everybody buying into this conventional wisdom notion that what’s happening to the market and the economy is an automatic win for Obama. Why? The only reason it’s an automatic win for Obama is ‘cause he’s not in power and the Bush administration and the Republicans are. And so the change factor comes in. But what the hell’s Obama going to do to this to fix it? He doesn’t know what he’s doing. He’s going to have some of his leftist radical buddies who are going to be his economic advisors telling him what to do.
You have to understand, there are a lot of people in Barack Obama’s immediate orbit who are happy about what is happening here. There are a lot of people in Obama’s orbit who love seeing the capitalist system teetering like this. This is a scary thing, folks. The Washington Post today has a story: “The End of Capitalism?” And it’s not the first such story I have seen. The end of capitalism? Well, this is what Bill Ayers is all about. ACORN is all about the destruction of capitalism and the Democratic system of fair elections. There are a lot of people on Obama’s side that are loving this. There are a lot of people on Obama’s side loving that you’re in pain, loving that you’re anxious, loving this crisis, loving that you’re suffering, loving it, ‘cause they think two things. They think you deserve to suffer because this is such an unfair, inequitable country. It’s not fair anybody has any more than anybody else, and so those who are suffering, good for them. I’m telling you, there’s some people in Obama’s camp that are doing cartwheels. Not publicly of course, they won’t say this stuff publicly. The other reason they like it is that they think it’s going to propel Obama over the top.
So McCain’s got I think a golden opportunity here. McCain is the solution to the economic crisis. He’s talking tax cuts; he’s talking capitalism; he’s talking economic growth. McCain should just tell everybody that a vote for McCain can save the market. You don’t have to go into all these details of idiosyncratic plans and so forth. You just have to tell people who Obama is. You know, Obama is out there saying, “He didn’t say that to my face, the comment about that one, he didn’t say that to my face.” Say it to his face, Senator. You got one more chance next week in the final debate to say all of this to his face, and everybody said, “Rush, how come you keep worrying about Bill Ayers and how come you keep trying to tie Obama to ACORN? It’s the economy. They are inseparable, especially ACORN and the economy and Obama. You know Obama is lying through his teeth on his own website saying he never had anything to do with ACORN? We got the data. We got the documentation. We have pictures of him. He represented ACORN in lawsuits. He worked with them, and he praised them, and he’s out there trying to say he had nothing to do with ACORN now. Then he goes out and says, “I gotta buy a half hour of TV time.” Well, he’s trying to buy everywhere but ABC. I wonder what that’s about.
I wonder why he doesn’t want to buy time on ABC. We’re talking about the broadcast network, CBS, NBC, and Fox, not news, the Fox broadcast network. He wants to buy a half hour TV time. Why is that? A lot of people think it’s just because he wants to sew it up here, folks, he’s got a lot of illegal money from overseas, going to spend it somewhere. I think all this ACORN and Ayers stuff is getting to him. Look, there’s a pattern here. Louis Farrakhan called Obama The Messiah. He speaks as The Messiah. We have the tape coming up on today’s program. So you’ve got Calypso Louie, you have that mad, lunatic, enraged, insane preacher — we got two of them, J. Wright and of course that wacko Father Pfleger, and then we’ve got Bill Ayers and Bernardine Dohrn. There’s a pattern here of the people that Obama has formed alliances with, and you can’t just ignore the pattern because they tell us who the guy is. He’s not telling us who he is. He’s trying to present a picture of himself that of course is not accurate.
By the way, this Berlusconi, Silvio Berlusconi, he’s a conservative. Was. But, you know, we got a lot at stake here. Now, all these guys “let’s just shut down everything and rewrite the rules and make ‘em all global.” Okay, so we’re going to have the United States bank making loans to the United States Automobile Company and the United States Treasury is going to oversee all of this, and then we’ll have the United States Discount Retail Store with locations in thousands of American cities. We had the story yesterday, J.D. Power says General Motors is finished, the automobile business in total, auto business is going to collapse next year. It’s fini, it’s over. That’s why if you want a new car you gotta go out and buy one now, but hell, they say you can’t get credit, although I think you probably can, if you go to the right dealership, live in the right place.
Anyway, when the United States Auto Company is formed next year, you’re going to have bureaucrats in beanies inside Washington designing those little cars with propellers on them and stuff playing games making garbage that nobody wants. I’m joking, but this is serious with all of this talk of nationalizing this and socializing that. People just need to step back, push back, and let this work itself out. It always will if you just let it. We also have on today’s program the Official Obama Criticizer, Bo Snerdley. Mr. Snerdley is outraged over all the talk of riots from James Carville and some things that Obama has been saying. That will be coming up within this hour, on the EIB Network. And after the Official Obama Criticizer, I will answer the question I asked you yesterday: When do we riot? I threw it out there. I wanted you to stop for a moment and think about this. But I will answer the question, when do we riot?
END TRANSCRIPT
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As my 9-year old son so often wisely counsels me:
“That’s a Duh.”
Watch President Obama shut down all Conservative talk radio, in the name of “hate speech” and inciting the public.
This is very serious folks, we are at a cross roads of the likes that this country has never even considered possible before.
Thank the “educational” system for this current crop of pond scum Liberal Marxists that are supporting Obama.
Of course he will Nationalize most industrial categories. That way the Government will take first hand the Revenues, and do it in the name of righteousness. Instead of those evil, greedy Corporate executives taking multi-million dollar salaries, Barak will give it to the homeless and the po’.
Well, the “homeless” will be given homes among the ones who already were given them by Fannie May and Freddie Mack, as well as those 5 million Illegal Mexicans who already have new homes.
Rush Limbaugh always says “What’s bad for America is good for Democrats” ... or something like that.
Why this facts don’t come out?
BUSH and McCAIN could hammer that!...
And what about SOROS and BUFFET supporting OSSAMABAMA ?
I think he will be considerably more subtle than your scenario. There will be a lot of “free enterprise” lip service and some attempts to do the same. Remember that Clinton had the biggest stock bubble under his watch and, along with Greenspan, made the current pullback inevitable. Don’t be surprised when Obama figures out how to do the same.
Of course the pollsters will tell you Obama’s numbers are going up because Wall Street is going down.
I believe that both are true.
He also gibbered about the ownership society incessantly. Greenspan gave us ownership of debt which we now have to work off.
Will Obama’s Poll Numbers stay steady or go up, the DOW will go down?
Will the DOW be 6000 next Saturday or lower? All of the talking heads are afraid to raise this issue with the exception of Jim Craemer on CNBC?
The question we all have to ask ourselves is “Should we all sell the stock in our 401k ON Monday and place all the proceeds in cash and wait for the Market to return the market to return from the DOW level of 2000 sometime in the next 20 years or should we just let all of our savins melt away and wait for the CHOSEN ONE to feed us on the soup lines? HAPPY DAYS ARE GONE FOREVER!!!!!!
Are the markets around the world afraid of an OBAMA presidency?
Obama is going on the television for his half hour show to play the role of FDR and tell the American people that he will now effect their 401K savings.
Do these people realize that if they hire Obummer, it nullifies the death of EVERY man who has died in the military service of this country?
Revolutionary War - done - we’ll have (already do) mucho taxation w/o a word to say about it.
Civil War - state’s rights? Pfffft - gone. Slavery? We (the working people) are already slaves, see Revo War.
World War I and II - defeating socialism and imperialism? Bigger pfffft - door is wide open.
Vietnam - defeating communism - lay the red carpet outside the open door.
We are SO toast.
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