Posted on 03/03/2009 10:31:08 PM PST by FocusNexus
The Dow is sinking and Obama's budget is a disaster. But despite dire trends, free markets will prevail.
Officially, President Obama's $3.6 trillion budget is titled "A New Era of Responsibility."
That's false on two counts. It's an era = not of responsibility, but of big-government taxation, spending, and regulation. And it's not new. History is full of attempts to inflate the state to grow the economy. Virtually all have ended badly. As Monday's sell-off reminds us, Wall Street's verdict on Obamanomics has been quick and sharp.
To help pay for this, Obama proposes the largest tax increase in history. Some of this, such as new taxes on oil and gas companies, is explicit. Some of it, such as the new cap and trade program, is quite subtle. And some of it will "merely" repeal the Bush tax rates on high incomes. But all of it represents a tremendous muzzle on the economy at a time when it needs to be unleashed.
In sum, the ideas of Adam Smith and his modern followers will make a comeback. Already, pro-market forces are gathering in Congress to defeat Obama's ambitious and highly socialistic agenda. Charities and nonprofits are already up in arms about the proposed limits on tax deductions for wealthy donations for good causes.
I'm doing my part by holding the world's largest gathering of free minds at FreedomFest, July 9-11, 2009, in Las Vegas. For details, go to www.freedomfest.com. I hope you will join us.
(Excerpt) Read more at csmonitor.com ...
It is amazing how every democrat party legislative effort is named precisely the opposite of its true intent. Like "Fairness Doctrine."
This is closely related to the fact that every word from Obama's seductive sociopath mouth is a complete lie. In fact what Obama SAYS is the precise opposite of what he DOES.
The DOW is down 33% in 4 months.
WordSpeak
Orwell was right.
-—”It is amazing how every democrat party legislative effort is named precisely the opposite of its true intent. Like “Fairness Doctrine.”
Add to that “Affirmative Action” - there is NOTHING “AFFIRMATIVE” about state-sanctioned racism. Period.
I am doing my part, i sold 2 years ago.
How prey tell, do free markets succeed after they are no longer free?
In a word, YES!
http://www.freerepublic.com/focus/f-news/2134324/posts
HA-HA-HA-I voted Republican
Who is John Galt?
40% of the earmarks in the budget are Pubbie earmarks. Voting Pubbie is nothing to brag about.
Short stocks, put your money into inverse ETFs, and invest in mutual funds that specialize in short selling. These are the only ways to make money under Obama.
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