Posted on 03/02/2009 7:45:01 PM PST by St. Louis Conservative
As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem.
Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence -- and thus a longer period of recession or subpar growth.
The Democrats who now run Washington don't want to hear this, because they benefit from blaming all bad economic news on President Bush. And Mr. Obama has inherited an unusual recession deepened by credit problems, both of which will take time to climb out of. But it's also true that the economy has fallen far enough, and long enough, that much of the excess that led to recession is being worked off. Already 15 months old, the current recession will soon match the average length -- and average job loss -- of the last three postwar downturns. What goes down will come up -- unless destructive policies interfere with the sources of potential recovery.
(Excerpt) Read more at online.wsj.com ...
Well, finally. Someone has said it!
false!
a lot of people are saying it.
In fact, a few more days like today and it will be a chorus.
Libs are in for a shock when they find out what happens when their policies are implemented.
Which they are and will.
The Fault of Obama!
The Obama Meltdown Continues
Pray for America
WSJ is finally getting some guts. I have hated it since Murdoch has bought it (Fox 15% owned by Saudi terrorists).
Before Murdoch bought out the Bancroft clan it was good but still had tons or pro open borders crap in the editorial pages.
Listening to Mr. Obama and his chief of staff, Rahm Emanuel, on the weekend, we couldn't help but wonder if they appreciate any of this. They seem preoccupied with going to the barricades against Republicans who wield little power, or picking a fight with Rush Limbaugh, as if this is the kind of economic leadership Americans want.
Not in the MSM they are not!
Lol
>> And Mr. Obama has inherited an unusual recession
In actuality, the Country inherited the crisis and its the Country that will suffer for it. It ain’t right.
I fear we are in for a very rough ride.
Socialism: Jobless man standing in the unemployment line hoping the benifits will be extended a few more months.
Capitolism: Jobless man who started selling hotdogs and sodas to the socialists in the unemployment line.
LOL
That’ll leave a mark.
This type of talk warms my heart. Obama wants to blame falling market on republicans and free market and use it to pass health care and other socialist takeovers. We need to make him own the stock market and the middle class 401Ks.
To the old , "Obama doesnt care about your 401K and wants you completely dependent on Social Security"
To the young:"Obama is piling on debt you have to pay off to keep home prices unaffordable for YOU"
Dang. The WSJ staff is the biggest group of Dem. contributors of any news staff.
Yet, this editorial frys Obama.
Wonder how long it will take the rest of the country to notice they have flushed their futures and their hard won fortunes with this turkey of a President.
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