Posted on 11/12/2008 2:30:15 PM PST by cal08sun
The stock market is sending two messages. First, it is voting no confidence in the bloated "New Deal" remedies of Ben Bernanke, Henry Paulson and Congress that are causing an economic downturn. Second, it is saying that the real economic cost of the bailout will be much greater than the projected $700 billion in direct expenditures. We face years of government interference via credit allocation, pay scale determination and a host of explicit and implicit new regulations. All will lead to a massive mis-allocation of resources. The U.S. stock market has fallen about $5 trillion in value the past two months. This is its estimate of the direct and indirect costs of the current "rescue" program.
(Excerpt) Read more at econsense.blogtownhall.com ...
About that wealth that 0bama wants to spread around: it evaporated.
No it has not. It never had that 'value' to begin with.
If the government really thinks they can help business, they should support new business’ that are struggling o compete against the giants, not propping up the giants who have failed to compete
The financial turmoil is not nearly as bad as the unionization that will result from public voting for representation.
The greats of America will be destroyed. The southern automakers will be destroyed. Walmart, Home Depot, Lowes, all the great retailers will be destroyed.
In short, the unionization proposed will bring economic doom.
A revolution will follow. The cities will be destroyed.
Third, and most importantly, the market is signalling complete disbelief that the American people would vote for a Marxist of dubious lineage for the highest office in the land.
It says we’re going into a depression before “They” officially say we’re going into a recession.
Bankruptcy is the way perfectly useful assets are handed over to a new, more deserving management which comes to the scene better prepared to use them for the good of humanity and the economy.
Exactly. How could the author have left out the Obama factor?
I need a drink.
Where the government extends only benign instruction, regulation or interference, unions have nothing to offer that can't be provided by the employer.
Let's use hospitals as an example. When the government nationalizes medical care doctors and nurses would be considered stupid to not have a union to protect them from the state.
Another example, the Postal Service is almost totally unionized.
Another example, UPS was set up by its founders to be unionized ~ those guys had worked for the Post Office Department and looked at the union as a way of keeping the government out of their business.
I doubt Obama is prepared for the period of labor strife that will ensue if he attempts to implement even a tenth of his BS ideas.
Amazing eh?!
I’ve often wondered what was so bad in Germany that forced my great grandparents to pack up all of their personal belongings and climb on a creaky ship to leave Germany and come to America. Things must have been pretty bad back in “the old country”.
Now that I see what’s happening here in the USA I am beginning to understand why how my great grandparents could make the decision they did.
Rorschach inkblot test alert.
You forgot to mention that hyperbole will rule.
the saddest part of your post is where do we, as Americans pack up and take a creaky ship to?
Great Question! The problem is there was hope in America. Where do we go to find hope? And I don’t mean the “word” as thrown around by Obama. We saved Europe from Hitler. Who will save us?
oh that’s nothing. first he’ll bring in a monetarist like volcker and send us into a serious deflation. Then he’ll get a keynesian and send us into a serious hyperinflation.
The stock market is saying our seed corn has been exported and recovery is not in sight. Time to rebuild America.
MAKE HERE MAKE NOW.
you are probably right.
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