“Our financial system and political system is totally corrupt. Witness the coup helped by his hedge fund buddies plus the CBOE and CME - both in Chicago.”
But freedom! Let them alone to invent money, we’ll all get rich!
/Greenspan logic
I think the Rushbot angle is to blame everything on Obama, not that Bush’s deficit spending game was a house of cards and a potemkin village of wealth, coniciding with the Fannie Mae scam of the same frailty.
And this is another instance where Rush is talking out of his ass. His kool aid drinkers will flame detractors for saying it but these declines are due to poor results coming in. I was thinking that the Dow would be in the low 7K range before this is over. The smart people know that there are serious structural flaws in the economy. Deflationary pressure caused by the credit bubble popping is what’s doing us in. There are no corporate profits to tax, income taxes are going to be down and the current regime is clueless. Frankly it is hard to see how Obama could do much worse than what we have seen so far.