Might be a Bush Recession, But It's an Obama Market Crash!

Bloggers and Personal ^ | 6 Mar 09 | Xzins

[xzins]

Ever ones to be fair, and especially when it comes to money, conservatives are the first to acknowledge that the recession began at the end of the Bush tenure in office. This is a consistent fairness that included the Carter recession handed to Reagan, the Bush recession handed to Clinton, and the the Clinton recession handed to Bush. Those all belonged to the handing-off administration, and conservatives simply never argued those points. They don't argue now about the administration in charge when this recession started.

However, they do argue about the huge instability in the stock market. That, they say, belongs to President Obama. They're right. The huge stock market hits have followed terrible policy and spending choices by the new administration.

As a matter of prediction, let conservatives also acknowledge that any inflationary cycle is going to belong completely to Mr. Obama. When the printing presses are commanded to start churning out trillions in new money ordered by the new administration, then that paper, backed only by the wishes and hopes of socialist democrats, will be approaching worthlessness as soon as it hits the economy.

To compensate, everyone from Cheerios to OPEC will have to raise their prices to keep from taking a hit.

And the stock market will take another hit. And there'll be no reason to bury your money in the back yard. Time will only make it more worthless.

[4rcane]

It be Obama’s Depression soon

[papasmurf]

I think it’s a Left Wing/Democratic attack on our President and Country recession.

[mnehring]

Now be fair, the market is up five one hundredths of a percent as I type this.. It is an Obama Boom! _/sarc

[bigbob]

Disagree. It will be Bush’s War, but Obama’s Recession.

[Frantzie]

Pelosi & Reid took over Congress in 2006. The Dems blocked ANY oversight of Fannie & Freddie. Their NO Energy Policy also drove energy prices through the roof to benefit their patrons the Saudis.

[ETL]

"It's an Obama Market Crash!"

You just don't understand what Obamanomics and "Change" are all about! He's trying to make stocks more affordable for the 'disenfranchised'. For example, even his broke-*ss brother in Kenya can now afford to buy shares in Sh*tiGroup. He couldn't do that under George Bush!

5-year Dow chart:
http://finance.yahoo.com/echarts?s=^DJI#chart1:symbol=^dji;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

1-day Dow chart (real-time updating):
http://finance.yahoo.com/echarts?s=^DJI#chart1:symbol=^dji;range=1d;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
______________________________________________

Barack Obama's 'lost' brother found in Kenya

George Hussein Onyango Obama,
Senator Barack Obama's long lost
brother was tracked down living in
a hut on the outskirts of Nairobi

Senator Barack Obama's long lost brother has been tracked down for the first time living in a shanty town in Kenya, reports claimed

Mr Obama, 26, the youngest of the presidential candidate's half-brothers, spoke for the first time about his life, which could not be more different than that of the Democratic contender.

"No-one knows who I am", he told the magazine, before claiming: "I live here on less than a dollar a month."

http://www.telegraph.co.uk/news/newstopics/uselection2008/barackobama/2590614/Barack-Obamas-lost-brother-found-in-Kenya.html

[Huck]

I’m studying up on hyperinflation now.

[Niteranger68]

Pelosi & Reid took over Congress in 2006. The Dems blocked ANY oversight of Fannie & Freddie. Their NO Energy Policy also drove energy prices through the roof to benefit their patrons the Saudis.

Bingo. The collapse of our economy started AFTER the 2006 election when dims started the recapture of their power. The only thing they can blame Bush for is for letting the economy get too good.

[piytar]

Did GW contribute to the circumstances that led to this mess? Sure, but the real blame lies with the 2006 democrat congress. I am sick of libs talking about “8 years of Bush and Republican control.” They are either stupid or lying or both when they ignore that congress went demscum in 2006, and it only took those demscum 2 years to trash a good economy.

[quintr]

And so goes the DOW. I’m beginning to think that Jim Cramer is right when he says the DOW’s bottom is going to be around 6500. This morning the DOW opened pretty close to the threshold of 6600. It’s on its way up now, but that could be what economists call a “dead cat bounce.” Or it could be day traders getting in early, then selling off this afternoon before market closes.

When the DOW does hit its bottom, I do think it’s going to lay in the trough stubbornly for several months before it starts to trend its way north again.

It’s going to lay there long enough for a whole bunch of Democrats to grow weary of the White House blaming the Bush administration for everything that’s gone wrong with the United States in the last century.

Never mind the fact that Congress was firmly in the hands of Nancy Pelosi and Harry Reid and their liberal left wingers since 2006. So, my question is to all the Bush bashers, “How’s your 401(k) doing under your party rule? After all, the economy was doing pretty good when Bush and the conservatives were in charge of things.

But there’s enough blame to go around. There always is. So far no one is stepping up to the plate. Instead, all the powers that be are sounding like people stuck in adolescence. That’s what teenagers to when something goes wrong. They blame everybody else. Anybody else.

The problem for the White House now is that the Blue Dog Democrats in the Senate are about to jump ship and run as far as they can get away from Obama and his porkulus programs.

Look for Evan Bayh (D-IN) to lead the way for some Democrats to develop some type of austerity program imposed on Congress. And why not? American families and businesses are having to do this! Why not Congress?!!! It’s a drumbeat off in the distance now, but it’s getting louder and louder and more and more people in Washington, particularly conservative Democrats, become willing to calling Obama’s bluff on his spending packages.

This budget of 2009, for instance, has 9,000 earmarks in it. It may very well not pass through the Senate. It’s not looking like Harry Reid is going to have his 60 votes needed for cloture, thereby stopping debate and bringing a vote to the floor for today’s deadline. That would mean the government would have to continue with a continuing resolution. And that would mean that the government would have to operate at last year’s spending levels.

That would save tons of money all by itself. That may be a good thing. And that would also mean that the congressionals wouldn’t get their automatic pay raise of $4700!

And just an aside. You know things are getting pretty bad over at the White House when people who were in contention for administration appointments and are starting to withdraw their names from consideration. The third to do so this week is Sanjay Gupta who was asked to be Surgeon General. He’s going to keep his day job over at CNN as medical correspondent. Two others, whose names I can’t readily recall, withdrew this week too.

— Jane Reinheimer

[xzins]

Traditionally, the outgoing administration owns it’s economy.

There might be a myriad of reasons why it was the way it was, but it is still named for the previous presidency.

[Grampa Dave]

This is an excellent way to desribe the Zer0’s mess.

“Might be a Bush Recession, But It’s an Obama Market Crash!”

It appears that the minature dead kitty bounce on the markets this morning may be over.

http://bigcharts.marketwatch.com/markets/indexes.asp

[TornadoAlley3]

listening to this @**hole speaking in Ohio, I chipped a tooth.

[Sudetenland]

He wants the economy to fail. Some South Vietnamese friends call Obama “Little Ho.” They mean Little Ho Chi Min. They say Obama has started the same way that Ho started when he took over.

[wny]

Obozo took ownership of the economy the day he signed his porkulus bill. For 2 weeks prior, he warned of the coming castrophe if it wasn’t passed. It passed. Then he started talking positively. Why just a few days ago he was saying it’s a good time to buy stocks! (with those good profits to earnings rations don’tcha know). It’s his economy now. Does anyone truly believe if the DOW was rising the way it’s been sinking, he wouldn’t be taking credit for it? It’s the Obamaconomy now.

[TurtleUp]

And so goes the DOW. I’m beginning to think that Jim Cramer is right when he says the DOW’s bottom is going to be around 6500. This morning the DOW opened pretty close to the threshold of 6600. It’s on its way up now, but that could be what economists call a “dead cat bounce.”

A bottom forecast of 6500 is what I call optimism. That takes into account all the bad news we have from the first 45 days of the Obama Administration, but as they say in late nght commercials, "But wait, there's more! You also get ..." Once we find out what Obama plans to do to us next, we'll have another free fall.

[xzins]

I’m sitting in Ohio and I was just listening to him brag about saving 20 police cadet jobs.

In the meantime the Democratic Ohio Governor Strickland, and Senator Brown have permitted thousands upon thousands of jobs to be lost by their refusal to ease up on business taxes.

GM, Ford, DHL, and many, many others: they stood by and watched them leave with nary a concession.

Where do they go? To cheaper states.

[quintr]

I suspect you could be right. It’s discouraging to listen to the economists being interviewed with nary a one in agreement with the other.

Tells me that none of them have a real clue, just prognostications.

Waiting to see now if GM is going to file for BK after the close today or Monday. Suspect that if they file for restructuring, it will be after a close in trading on a day of their choosing.

I agree with you fully that there are bleaker times ahead. And everytime Obama or his buddy Geithner takes to the mike, the market heads south again.

Not exactly a big vote of “confidence” there. To the contrary, in fact.

— Jane Reinheimer

[quintr]

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