Today, post US-credit-downgrade by S&P, stocks are tanking. Obama gets on live TV in the middle of the trading day, lies brazenly about the narrowly averted threat of govt default (a bogus threat that he himself used to try to lever Republicans into agreeing to more of the profligate tax-and-spend that put us into the current mess), and reminds everyone that he is still holding out for tax increases. While he does this the stock market is steadily ticking down and gold is steadily ticking up. Finally he starts talking about Afghanistan and stocks recover a bit, only to tank again later. Is there nobody on his staff with the sense to tell him to avoid making gratuitous comments about markets during trading hours? Or is he simply so arrogant that he thinks that he can talk the market up so that the public won’t see him as the colossal failure that he is? Who knows. You can fool some of the people all of the time and all of the people some of the time, but it’s generally wise to assume that you can’t fool markets any of the time. Markets tell the truth and they discount bullshit. A politician stupid or desperate enough to go up against the markets with bullshit arguments like Obama’s is submitting to a public lie detector test that he will fail. A humbler man might learn from such an experience. I doubt that Obama will, and the American public will continue to pay for his bad ideas and arrogance.
15 thoughts on “What a Guy”
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In spite of his propagandists, it is clear he isn’t the brightest light bulb in the room.
Maybe his cronies are short the market. Too cynical?
Or maybe he’s just not up to the job. More realistic, probably.
Or, the simplest explanation: The markets are racist.
The markets are just now starting to reflect the reality of what has happened since 2008. Then would have been a much better time to bite the bullet.
As that did not happen and America basically gave it’s money, it gets from the poor and middle class mostly, to the Banks and major financial institutions you are screwed. The Feds QEs 1 – 3 have further diluted your dollar to the point it’s a bit of a joke now. Further ‘money printing’ will result in the losing of your reserve currency status and that will pound the last few nails into your coffin.
I expect America to suffer for 10 – 15 years over this. How bad it will be is up to you.
Yea we know, PenGun, we know – it is always all unicorns and fairydust bullsh1t in Canada. If we go down you go down, don’t ever forget that – so stop cheering against us.
Anyway, I am starting to wonder if Obama has handlers at all or if he does everything off the cuff. I would think there is a decorum or smart police that presidents would have to keep them from making gaffes like O does over and over. God knows I would want to have someone giving me good advice.
“Yea we know, PenGun, we know – it is always all unicorns and fairydust bullsh1t in Canada. If we go down you go down, don’t ever forget that – so stop cheering against us.”
You appear to know very little. I was just pointing out the obvious.
As to us going down … well our new biggest lumber client, China, seems to have a large appetite for nice wood. We have other things to sell. You however do not.
I just want useful progress for a world full of humans. Your decline removes some of the obstacles to that progress. Nothing personal.
Maybe his cronies are short the market. Too cynical?
George Soros has invested substantially in Brazil’s oil exploration. The Obama illegal moratorium on Gulf deep water drilling has sent a number of deep water rigs to Brazil and there are no more in the world unleased. I don’t think it is too paranoid to wonder about Soros’ support for the enviro-Nazis who support Obama’s policies on energy.
It’s a bit like Warren Buffet’s enthusiasm for death taxes when you realize that his life insurance companies sell a lot of product to families to pay those death taxes.
Cui Bono ?
But not to worry: when the incandescents ban kicks in, all the bulbs will be as dim as him.
Xj – now that is a good one.
Dan from Madison, indeed it is.
The Opacity Of Hope.
“I just want useful progress for a world full of humans. Your decline removes some of the obstacles to that progress. Nothing personal.”
By progress, I believe he means the advance of socialism/marxism. The kind of progress that Russia experienced after 1917, or eastern Europe after WWII, of Cuba after Castro. I could go on. The kind of progress the Left wants to bring to the West.
It’s interesting that if you look around the world, the regions where you see actual, real progress – progress in the classical sense of the word, with peoples live improving – you generally find it where capitalism and individual freedom is most fully embraced. Places like Hong Kong, South Korea, and (economically) China.
The endemic social and economic decline we see in the West is almost completely attributable to the policies of Leftist Progressives like PenGun, and the disastrous results of which he completely disconnects from Leftist policy causes. Poor fool.
“The endemic social and economic decline we see in the West is almost completely attributable to the policies of Leftist Progressives like PenGun, and the disastrous results of which he completely disconnects from Leftist policy causes. Poor fool.”
The social collapse in America is mostly your poor middle and lower classes being hosed by your rich. The economic collapse I can speak to at length.
Your corporations who run your country have been hoisted on their own greed. The collapse you see is almost entirely your fault. Capitalism run wild is very self destructive as you are finding out.
If you have any specific questions I would be glad to elucidate.
There is an element of accuracy to what PenGun says. The problem of crony capitalism, and the power of the regulatory state being abused and manipulated by private businesses is a big part of the problem we face.
I disagree Lex, pen-gun is completely wrong as usual. The US thrived more, expanded, and was more innovative before the welfare state – when capitalists did “run wild”.
You give pen-gun too much credit, he’s not concerned with the evil axis of the corporate-state, only the “capitalists”. “Hosed by your rich”, what tripe, what an old fashioned lefty idea. I’m probably not the first reader to think that p-g can’t be serious and that he’s really a right-winger “having a go” at us.
Maybe I give him too much credit. But I stand by what I said, and I would rather be charitable and give too much credit than not enough.
I hear too little about corporate cronyism and regulatory capture from my friends on the Right. All private businesses are not friends of freedom or capitalism. Very much to the contrary.