Posted on 09/10/2011 5:43:39 AM PDT by Kaslin
“Who would have really expected a 300-point stock market plunge on the day after President Obama’s so-called jobs speech?”
It was obvious.
It is to be paid for by that $500 billion spending increase that they snuck through silently in the senate late thursday night. That’s how.
The one that was reversed engineered to look like something it wasnt. It was crafted to “appear” to be a bill against further spending which would go to Obammy and he would veto it then it would come back to the Senate and get overridden so that it “looked like” the pubbies had voted against it. It all slid through without any notice.
A rational energy policy would include:
1) An aggressive drilling program including the Gulf of Mexico and ANWAR.
2) Developement of shale resources.
3) Approval of the Keystone pipeline.
I believe all of these things are within the authority of the president. Implementing a program like this would create jobs and help eliminate uncertainty in the energy sector. Obama would have none of it.
The fact that Obama did not even give lip service to energy indicates that he has no idea what actually makes an economy run. There will be no economic expansion until he is gone.
Certainly not the idiot "experts" of whom most economic reports are "unexpected".
Lets be accurate though. It was an increase in the debt limit, not a spending increase.
Let me sum up Obama’s plan:
You MIGHT get a tax break, a tax credit or your dog gets a bone, if you fill out this form and beg your overlords for some relief.
Greece will default. It is inevitable..just a question of how soon it occurs..this coming week, perhaps?. The Germans will NOT throw any more $$$ into the Aegean.
The Greek default will implode several major European banks...and this is making US banks nervous. They are counterparties to them in many financial transactions.
What everyone is ignoring is the report, last week, that the Fed had loaned about $1.5 trillion to overseas ( non US) banks and financial institutions during the last crisis..often with lousy or NO collateral. The Fd had been repaid...but I don't think that it could do it again in the current political climate..it owuld cost Obama the election..
It's just more bankrupt America rhetoric.
About 99 out of 100 of EVERYBODY in the world?
“”What we really need is a long-term program that gets government out of the way and lowers spending, tax, and regulatory barriers wherever they exist. But at bottom, the president’s plan is a big-government plan. It’s not a private-sector plan””
Big Government results in unprofitable Business.
The technical indicators show the stock market will soon drop another 1000 points.
Saturday morning Rassmussen poll is out. O is at -23 approval rating with only 20% strong approve. Today also marks the point where, for the first time, the 7-day average of the Abyss Index (total approve minus strong disapprove) is below zero.
C'mon November, 2012!
I made money on it.
Only about 150 million conservatives and other sane people.
And for that matter, who really expected an unbelievably large $450 billion plan?
Everyone paying attention except Rip Van Winkle, Donna Brazile and Chris Matthews.
There are silver linings. We're refinancing.
Of course, the last time I went short on something was back in the early '90s... I sold some stocks short, and the market turned around and never looked back (until recently). I'm pretty sure I was personally responsible for turning the market around.
Obama needs a straight jacket he’s all but killed capitalism.
1. the post obama speech dive is SOP for the market.
2. Obama ONLY promises temporary BS. (see open bank account get free toaster)
3. temporary is WORSE than doing nothing because it creates the assumption that WORSE is comming.
4. Obama is only guaranteeing tax increases for EVERYONE.
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