The Crash, part Deux

Ten days ago I wrote a piece entitled The "crash" officially began when Obama won the Democratic Nomination. This story has been very well received by our readers, and I'm glad for that, however when I continue to hear people say that Obama inherited this mess, and that it was 8 years of Bush's policy, or even that this really began in September, I would ask you to look at the pictures in that story from 10 days ago. Share it with your friends. This is a story that needs to be told. The market was strong enough (wouldn't people love to see the market reset to June 6?) but began a steady decline when Clinton conceded the Democratic nomination to Obama in early June of 2008. The markets have been on a steady decline ever since that date in history, and that time marks the high point of the last 9 months.

Nonsense-—we NEED to flush out the bad debt but don’t pretend there wouldn’t have been a LOT of short term pain. I have NEVER supported ANY of the bail outs. We’re probably looking at a GDP decrease of 25-35% by the time this is done.

I wanted to thank NEPA for posting my article here. He’s a colleague of mine from over at The American Sentinel, and he was nice enough to post my article here, so I decided to create a login and join FR. (Typical White Person was taken!) My goal for my “part Deux” article was to move past the initial graph which shows a peculiar drop off after Clinton conceded, to another graph (up on my TWP blog) showing that this steady downhill angle has continued right through Jan-Feb ‘09, because I felt that although Obama inspired the market briefly during the inauguration hoopla, he quickly confirmed the worst fears by showing that his labels of “most liberal member of the Senate,” and “tax and spend liberal” were not only true, but he’s turning out to be worse. Instead of “pragmatic” (the favorite word of moderates around election time) he’s more akin to a communist manipulator of the poor masses, and the number of those that are poor are on the rise. But I know the October bailout plunged the market further which was already on shaky ground, but my original thesis was that the downturn started earlier.

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