Posted on 03/02/2009 2:00:35 PM PST by grayhog
President Pelosi and that Obama guy ripped the heart out of the market with their budget on Friday. Many of us Wall Street guys held onto "hope" that the ruling class would put aside their societal dreams and focus on pragmatic economics until the economy was somewhat stable. The cabinet/advisor picks - Geithner, Summers, Volcker - led us to believe that maybe Obama wasn't the radical we feared. Talk about a bait and switch! That hope has been demolished with the ridiculous "stimulus" bill and the absurd budget proposal.
The market is in freefall because the political class let it be known that from their viewpoint, capitalism and business are the problem, not the solution to our crisis. The theme of the budget, not necessarily the line item proposals, is what sent the markets spiraling down.
Stock prices are like crystal balls in that their changes show us a glimpse of a possible future -- the hopes and dreams of profits and prosperity to come. Those little crystal balls are screaming right now that no business and no profit is safe from the politicians.
FDR turned the "Great Recession" into the "Great Depression" going down a similar path of assaultig capitalism. Jimmy Carter's approach gave us stagflation and the misery index. The crystal balls in our stock market are saying that President Pelosi and that Obama guy are pushing us down a similar path.
Are they listening? Do they care?
Along with Chancellor Soros
Who in the heck wants to invest in an emerging Socialist economy?
Me, I pulled back and almost out today.
Well, a lot of wall street guys voted for him. How they could not see this coming is beyond me.
Yup and they don’t care either. They have screwed retirees and many baby boomers who will never retire. A lot of them voted for Obama.
Do they care?
They’re reveling in it!!!!!
With the massive government intervention in the economy, there is no potential for growth.
OBAMA MUST GO!
But since grandiose corporate types like Buffet and Gates have become so self destructively liberal in their political activities and support, a bit of schadenfreude may be in order. So excuse me for halfway hoping the market tanks all the way, even if it takes my retirement savings with it.
They don’t care.
As far as they’re concerned, the spirally freefall is all
part of the process of the bottoming-out of “8 years of Bush’s failed economic policies”, plus whatever other undigested chunks of pseudo-populist rhetoric they can disgorge, throw against the wall, and see what sticks.
They INTEND to make it worse, like the sadistic perverts I always said they were. That way, when it continues ,day to day to be the most sickening roller-coaster ride any of us have ever been on, they can rush in with a new plan, print oodles more money, figure out new ways to paint themselves
as Knights in Shining Armor, and even maybe bail out a few thousand of us ordinary mortals directly with pittance pity-checks our grandchildren will be paying for. And we will TAKE those checks.
UNLESS......
we decide that the tipping point has already come, and that a recall movement should have gotten underway YESTERDAY.
RE: “Yup and they don’t care either. They have screwed retirees and many baby boomers who will never retire. A lot of them voted for Obama.”
***********
That’s right — I know a few of the boomers (and even their elders!) who voted for Zero and now they are very quiet, though moaning a bit about how much longer they will have to work.
For so many of them the election was all about Iraq. Foolish Dims thinking Zero would be more moderate on other issues and just do what they wanted — get US out of Iraq. hahahahahaha- good luck with that and all the rest of it. This is exactly the power grab and dash to socialism that we predicted.
RE: “Yup and they don’t care either. They have screwed retirees and many baby boomers who will never retire. A lot of them voted for Obama.”
***********
That’s right — I know a few of the boomers (and even their elders!) who voted for Zero and now they are very quiet, though moaning a bit about how much longer they will have to work.
For so many of them the election was all about Iraq. Foolish Dims thinking Zero would be more moderate on other issues and just do what they wanted — get US out of Iraq. hahahahahaha- good luck with that and all the rest of it. This is exactly the power grab and dash to socialism that we predicted.
...sorry for double post! Crazy dog is nagging me and flipping my wrist into the air as I try to type :)
Will be interesting to see what Jim Cramer says this evening.
How long will Americans sit by and watch our country collapse under the fraudulent regime of Pelosi, Reid and Hussein?
“Crazy dog is nagging me and flipping my wrist into the air as I try to type :)”
Right, oh sure, blame it on the dog.
Electing Obama was the death knell for capitalism in the US. We are now hell bent on becoming a socialist economy and neither Pelosi or Obama cares what happens to the Dow... they want the government to take over the commanding heights of the economy. Sadly as economists like von Hayek and Milton Friedman recognized the loss of economic freedom also means the loss of personal liberty. Welcome to the new East germany folks.
Just tell them to add about 15 years to their retirement date.
If the Repubs fail to regain the house and senate in 2010 - tell them to add about 20 to 25 years. So if they planned on retiring at 60 - tell them to add 20 years.
I am not joking.
About 5% to maybe 10% of the populace might be able to retire at age 60 going forward.
No, they don’t care. In order for their Marxist utopia to become reality, the market and capitalism itself, must be destroyed.
Haven’t you been listening?
They did that very thing. The market has been crashing since the inauguration.
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