Investors’ Real Fear: A Socialist Tsunami

INVESTOR'S BUSINESS DAILY ^ | 10/10/2008

[gaggs]

The Crash: "Why has the market dropped so much?" everyone asks. What is it about the specter of our first socialist president and the end of capitalism as we know it that they don't understand?

The freeze-up of the financial system — and government's seeming inability to thaw it out — are a main concern, no doubt. But more people are also starting to look across the valley, as they say, at what's in store once this crisis passes. And right now it looks like the U.S., which built the mightiest, most prosperous economy the world has ever known, is about to turn its back on the free-enterprise system that made it all possible.

[thinking]

The recent movement towards a socialist government is inevitable, something that has to be played out....so consider the next 15 years a wash-out

[uncbob]

Remember that Clinton had the biggest stock bubble under his watch and, along with Greenspan, made the current pullback inevitable.

Yep Greenspan saved Clinton's butt by drastically lowering interest rates after Clinton passsed his tax increase

[Leisler]

Republican boob bait for the masses.

The Republicans had political power to trade/spend. Since they didn’t trade/spend it on Fannie/Freddie/HUD/FHA, then it wasn’t important to them.

The largest single ‘industry’ in the US, is the financial ‘industry’. The GOP/RNC wasn’t going to do anything other than what they were told to do.

Talking isn’t doing.

The Republicans talked and didn’t do. Period.

I’m not a politician, so I don’t buy talking as doing something. I’ve never seen a house talked up out of a foundation, nor crops talked in from the field, nor fish into nets, nor cancer out of someones breast. (I must not of gone to the right schools.)

[uncbob]

The recent movement towards a socialist government is inevitable, something that has to be played out....so consider the next 15 years a wash-out

One minor problem. It won't be garden variety socialism like Europe

It will be a Totalitarian government with the Bill Of Rights shredded and a SS like paramilitary established to keep the sheep sheep

[mlocher]

The freeze-up of the financial system

Market Meltdown Caused By Fear Of A Socialist America

How can we have a freeze up and a meltdown at the same time?

[gaggs]

The same question could be asked of Global Warming.

[arasina]

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.

But he didn't come to the people until the pot was boiling over. And now he has done so again after it spilled out over the stove and onto the floor, a gooey mess, and wants the people to clean it up. Meanwhile, the chefs who were cooking up the rotten stew still want to put it on a silver platter and force us to eat it.

[lentulusgracchus]

[Rush Limbaugh] "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."

I disagree with Rush on this point.

The big Republican money gave up on this election 18 months ago. There were stories on MarketWatch and elsewhere, that explained that the GOP candidates' donations were lagging far behind the fundraising that Hillary, Obama, et al. were doing, because the big GOP money figured that a Democrat victory this year was baked in the cake, with all the mortgage-company problems, corporate-governance issues, big-bucks CEO ripoffs, and so on. And the Bush Administration's refusal effectually to counter the MSM propaganda campaign against the WoT and the Administration generally, and their constant politicking aimed at telling the American people that they had elected the wrong guy in 2000.

The big donors refused to kick in more than token amounts, and now McCain, who was going to press events in taxis a year ago last summer, is reaping the harvest of their lack of conviction last year. The damage is done.

There was also another angle -- to-wit, that the big donors figured that whoever gets inaugurated in 2009 will be the next Herbert Hoover, and they'd just as soon he were a Democrat not a Republican.

[bert]

.....But he didn’t come to the people until the pot was boiling over. .....

The people would have done nothing. The people are incapable of acting. The people only react. To continue to blame bush is totally ridiculous.

The people are now knee deep in crap and are finally reacting.

[CPOSharky]

...Barak will give it to the homeless and the po’.

Just like Mugabe did in Zimbabwe. LOOK, everyone in Zimbabwe is now at least a millionaire!

[informavoracious]

This definition of the 'ownership' society is faulty. The assumption is that if people have ownership, they will be more likely to work to keep it and will have self-esteem and pride in that ownership. Wrong. Because it was given to them without them having to have a real stake in it, like a substantial down payment, it feels more like an entitlement.

Just look at all the housing projects that were built for poor people. In a matter of a few years, they were transformed from clean, brand new apartments to rat-infested slums.

It is the same as government schools trying to build self-esteem by giving everybody a good grade, regardless of effort and accomplishment.

They have it all backward. True self-esteem, and a true sense of ownership, comes from a sense of genuine achievement, not as a handout.

Equality of opportunity? YES. Forced equality of outcome? NO!!