Posted on 11/21/2008 6:47:19 AM PST by rightinthemiddle
Bush owns the issue of Paulson, the single most feckless Treasury Secretary since... I dunno. I was going to say “since 1789...” but that doesn’t quite capture the breathtaking stupidity that is Paulson’s own special brand.
How ‘bout “Paulson is the single most feckless Treasury Secretary since the earth’s crust cooled sufficiently to allow mammalian habitation?” That should be sufficiently accurate.
Then we have Chris Cox as head of the SEC and his idiotic bans on shorts.
Both of these men serve at Bush’s pleasure. Bush, as we’ve seen repeatedly, is loathe to demand accountability of his subordinates for gross ineptitude or mistakes.
If I had been in Bush’s shoes, both men would have been out on their plush buttocks by the end of September.
I want it to keep crashing too, but remember, it will come with a price. Obama will have his mandate, they will do it.
It’s unavoidable, it would have come with McCain or Hillary too.
boner didn’t want to nationalize the election at all
Electing D’ohbama was a kick in the teeth for capitalist like me. I don’t make a very good slave!
Rahm Emanuel said he would not ‘waste a crisis’.
Michael Moore gleefully declared the ‘end of capitalism’.
Message to the “True Believers”, you first!
I’ve gone ground. I’m debt free. I will sit on the sidelines with my moldy cash, retool my business to wait the ‘progressives’ out in survival mode since I had to throw away my last business plan and watch them melt down.
We’ve reached a tipping point on our ‘experiment’. The Social Engineering of the ‘progressives’ isn’t working and they seem to believe we just need more of it. The ‘True Believers’ voted themselves largess of the treasury but the vault is empty.
Reality will bite them in the ass!
I’m sure that many American companies are actively exploring moving all or part of their operations overseas to a more hospitable environment.
Well, maybe not just the Marxist Messiah but his party and cronies, Pelosi and Reid. Isn't it just a bit too convenient that the peak of the DJIA literally burst as soon as the first Pelosi/Reid/Obama budget took effect?
I expect the Dow to drop below 5,000 during Obama’s first (and hopefully last) term. Of course for the next year the excuse will be that everything is still Bush’s fault and that Bush single handedly wrecked the economy to derail the Obama presidency. However by year two of the Obama term that excuse will wear thin as things aren’t getting better despite all the billions of dollars in bail outs and new federal spending. Many who voted for Obama will regret that choice as their paycheck’s shrink due to new taxes, their jobs disappear and the cost of energy skyrockets.
the markets don’t seem to follow intrade. I noticed intrade and the market the days of the bailout votes. Even though intrade predicted the votes with high probability hours before, the market dropped significantly after the actual vote.
The MSM will continue to give BO his honeymoon, but he owns this economy by spring. Even the MSM will not and cannot hide the realities on the ground from the American people.
MSM tried to prop up Carter all thru 1980. We saw how that turned out.
Agreed.
People are forgetting which is the dog and which is the tail, and it's politics that reacts to markets and not the other way around. OK, we hear (supposedly) intelligent people like Rush saying "screw the markets", but while politics is all well and good it has its place. Sometimes I think the way these political hacks strut that it's like hearing religious freaks ranting.
http://www.hud.gov/news/release.cfm?content=pr04-006.cfm&CFID=13038624&CFTOKEN=76546918
I want all the idiot young white and idiot white boomer bambi-voters to feel it
especially those college kiddies with their iphone (charged to daddy’s credit card) and sociology degree or those secular upper class people who voted for abortion.
Pelosi / Reid’s fault.
The market was climbing prior to the election not because it was expecting a McCain victory but rather because McCain was closing the gap and that the GOP would escape with 44 or 45 senators.
Since the election, the market has been tanking IN PART due to the Obama margin and, worse, the GOP will only have 41 or 42 senators.
hmm I didn’t hear anything like that from Hannity...wonder why...
You didn’t hear it from the MSM either because if they did, they would be blaming the same liberal policies that dems favor
So U.S. Treasuries will be dumped next when they lose their AAA bond rating. And the value of money begins to slide.
I was fully out of the market by the month before the election and am considering taking funds from my SEP-IRA out before January in order to get 12 months of living expenses/property taxes etc.. in the bank. I've only got 6 months now but I plan on backing off when my taxes go up.
Just hunker down and make no purchases that will take any credit whatsoever. Then try to pay myself as little as possible and keep the rest of my income in operating expenses.
If anybody thinks this is "just" Bush's fault, they are wrong. Congress spends the money and sets the budget. The president has to veto or go along. The war on terror made him compromise when he should have fought the dems. Now we're all stuck.
Obama is a joke. Hillary must be living right for her to be lucky enough NOT to get the nomination and presidency. These next four years will be tough, but I've lived through the Carter idiocy, had to listen to the democrat congress fight Reagan, and 2 terms of the "Blow Job" president. So this pathetic, naive, fool straight out of the Jackson/sharpton school of "community activism" is in so far over his head he better be wearing black pants so the sh#t stains don't show after the world's thugs realize he's been GIVEN everything he's "achieved" and has no actual intellect or skills.
I'd like to know what the calculated annual rate of return would have to be for it to be profitable to take money out of your SEP-IRA? If an investment can make 20-30 pct. annually would it be worth it to take the tax and penalty hit? Any FReeper investment guru help would be appreciated.
Is it too early to start calling this “The Failed Obama Administration”
Dumped for what other instrument?
Cash under the mattress?
Could you expand on that line of thinking, please? Do you mean W’s fault due to economic policies, that he didn’t defend himself during his administration therefore letting the liberal lies about him stand and influence people’s judgment of him and setting the stage for a socialist victory, or something else?
I’m being serious here. I’m no “bushbot” by any means, but I’m having a hard time seeing how this crisis is W’s fault. It is much easier to see these things as directly associated with a variety of world events, laws, lies, etc... but none of these have much of ANYTHING to do with President Bush.
Indeed, the reasons I’m seeing on the whole for the predicament we find ourselves in currently originated years and years ago, and were helped along by liberal policies and politics over decades (some of which were indeed pushed by what we would today call RINOs, as well as Dems - but mostly the Dems).
It would be hard to place this crisis at the feet of ANY politician solely (even those I can’t stand like Carter and Clinton!!!).
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