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Obama's Radicalism Is Killing the Dow
Wall Street Journal ^ | 3/5/09 | Michael Boskin

Posted on 03/05/2009 9:28:59 PM PST by pissant

t's hard not to see the continued sell-off on Wall Street and the growing fear on Main Street as a product, at least in part, of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis.

The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents -- John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance -- President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown.

Mr. Obama's $3.6 trillion budget blueprint, by his own admission, redefines the role of government in our economy and society. The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents -- from George Washington to George W. Bush -- combined. It reduces defense spending to a level not sustained since the dangerous days before World War II, while increasing nondefense spending (relative to GDP) to the highest level in U.S. history. And it would raise taxes to historically high levels (again, relative to GDP). And all of this before addressing the impending explosion in Social Security and Medicare costs.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Crime/Corruption
KEYWORDS: bho44; bhodjia; dowjones; economy; first100days; jonestown; larrysinclairslover; obama; obamabots; obamatrons; wallstreet
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1 posted on 03/05/2009 9:28:59 PM PST by pissant
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To: pissant

BTTT!


2 posted on 03/05/2009 9:29:39 PM PST by The Mayor ( In Gods works we see His hand; in His Word we hear His heart)
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To: pissant

"The dreadful policy proposals will continue until the market rallies."

3 posted on 03/05/2009 9:30:29 PM PST by sourcery (Obama Lied. The Economy Died!)
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To: pissant
Obama's Radicalism Is Killing the Dow

And it is starting to kill the hopes and dreams of many citizens as well.

4 posted on 03/05/2009 9:31:45 PM PST by Republic (Jedem das Seine)
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To: pissant

Obama is proving that he’s either very stupid or very evil.


5 posted on 03/05/2009 9:32:26 PM PST by Bullish ( Reality is the best cure for delusion.)
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To: sourcery

Sadly, the Loyal Opposition isn’t convinced the free market is best.

It seems too many Republicans need to be dragged back to their party’s basic values.


6 posted on 03/05/2009 9:34:17 PM PST by 1010RD (First Do No Harm)
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To: pissant

Who said “White man’s greed runs a world in need” ?
Obama....that’s who.

http://www.youtube.com/watch?v=DdLX3aRNa...
The media never mentions it, of course.

Well the 1/2 whitey ain’t doing such a stellar job either?
Why not run the world the Kenyan way?


7 posted on 03/05/2009 9:34:24 PM PST by tflabo
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To: pissant
Are you getting as mixed up as "Sir" Senaturd Kennedy, the sort of knighted swimmer who never checks for air bubbles???

He used to get their names confused constantly and somebody recorded it once and Paul Shanklin made a parody out of it that was priceless.

8 posted on 03/05/2009 9:35:51 PM PST by SierraWasp (Galloping suffocating American Socialism smells like BO!!!)
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To: pissant

My new bumper sticker

How’s the Hope & Change
working for ya?


9 posted on 03/05/2009 9:36:08 PM PST by NavyCanDo
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To: pissant

Should have sold my stock pre-inauguration. Now it’s worth less than 12 years ago! Bye bye, our nest egg!


10 posted on 03/05/2009 9:36:14 PM PST by blondee123 (Barack O'Lenin, King of United Socialist America!)
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To: pissant
Photobucket

I’d be willing to bet that – except for gold and silver -- Obama’s key “handler” (Soros) is short every U.S. market and has his “boy” talking the markets down every day.

Photobucket

11 posted on 03/05/2009 9:37:27 PM PST by Dick Bachert
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To: Bullish
Obama is proving that he’s either very stupid or very evil.

I believe Obama simply doesn't care. He sees his role to reshape domestic policy, to be the champion of the oppressed. The markets be damned. 401(k)s be damned. The middle class be damned. Nothing seems to stop his agenda . . . and it is a pure domestic socialist agenda. Our next chance at fiscal sanity is November 2010.

12 posted on 03/05/2009 9:38:47 PM PST by BAW (Honk If You Want to Pay My Mortgage)
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To: Bullish
Obama is proving that he’s either very stupid or very evil.

Well, he's not stupid so that only leaves... evil. It's no accident. He knows what he's doing. And he's doing a good job of it.

13 posted on 03/05/2009 9:38:58 PM PST by BigFinn (Obamanation then Obamaggedon.)
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To: pissant; Huck; Moonman62; jackmercer
“Mr. Obama’s $3.6 trillion budget blueprint, by his own admission, redefines the role of government in our economy and society. The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents — from George Washington to George W. Bush — combined. “

Obama is in a Marxist class all by himself. For all the Bush haters enjoy the above WSJ paragraph.

14 posted on 03/05/2009 9:39:40 PM PST by Chgogal (Don't look at me, Comrade. You elected them! Hail to our very own President Mugabe!)
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To: BAW
Let's just hope this finally wakes up the pubbies in Congress that the country needs them to fight to the bitter end.

Let's also hope it jolts the electorate out of their drunken stupor.

15 posted on 03/05/2009 9:42:21 PM PST by Bullish ( Reality is the best cure for delusion.)
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To: Bullish

He’s both, but in the opposite order...


16 posted on 03/05/2009 9:44:00 PM PST by Senormechanico
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To: Bullish
Obama is proving that he’s either very stupid or very evil.

Or both...

17 posted on 03/05/2009 9:44:33 PM PST by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: Bullish
Obama is proving that he’s either very stupid or very evil.

Why give a choice. He is both. King Obama is a hard core communist thug and he resembles a 10 year old kid.

18 posted on 03/05/2009 9:46:43 PM PST by Logical me (Oh, well!!!)
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To: The Mayor

http://www.freerepublic.com/focus/news/2190257/posts?page=14#14

See the dow chart there. Oct ‘07 was the Dow top at @14000. That day Obama co-sponsored a bill to beef up low income housing regulations on banks. And with the Republican nominees, it became more evident that there was a good _possibility_ of a Democrat Presidency.

In May of ‘08 (even though Clinton was winning some primaries in Ohio, Texas, Penns. etc.) the ‘metric’ was already in favor of Obama where despite Clinton’s new found hope (read: Operation Chaos), Chucky T, specifically, and MSNBCCBSNBCCNNABCNYTWP had already declared Obama the winner. And of course by then McCain was the only Republican left. “Possibility” went to “probability” and the Dow showed that by dropping more in May and the rest is history.

The market anticipates - it isn’t as Obama says a ‘daily tracking poll’ - it ‘knew’ in Oct. of ‘07.


19 posted on 03/05/2009 9:48:26 PM PST by Kent C
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To: SierraWasp

Actually, it’s quite appropriate that one of the Kennedys be kNIGHTed. After all, some of this families best moments have occured at NIGHT:
* Papa Joe Kennedy moved most of his Prohibition bootleg scotch ashore at NIGHT;
* Sir Edward drowned Mary Jo at NIGHT;
* Sir Edward and that little snot nephew of his lured that Palm Beach barmaid back to the compound where little snot attempted to force his way into her knickers at NIGHT;
* The Skakel lad whacked a young lady in the head, killing her, at NIGHT;
* I believe Sir Edward and senate pal Chrissie Dodd made their “waitress sandwich” at that D.C. restaurant at NIGHT;
* And the now legendary Kennedy hubris killed John, Jr., his wife and her sister at NIGHT.

These people seem to work best in the dark.

Please feel free to add you contributions to the list.


20 posted on 03/05/2009 9:49:01 PM PST by Dick Bachert
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To: pissant

Hopefully his radicalism doesn’t kill thousands of Americans.


21 posted on 03/05/2009 9:49:33 PM PST by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: Dick Bachert

Are you kidding? You don’t a truly comprehensive summation, Mr. Bachert!!! I can’t add a thing!!! Beautiful!!!


22 posted on 03/05/2009 9:52:18 PM PST by SierraWasp (Galloping suffocating American Socialism smells like BO!!!)
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To: Kent C

The Leftist elite determines who will sit in the White House through its media sock puppets. They botched it with Gore but they won this time.


23 posted on 03/05/2009 9:52:55 PM PST by April Lexington (Study the constitution so you know what they are taking away!)
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To: pissant
Just remember, he needs the Democrats in Congress to do any of this crap. Many are coming up for reelection in less than 2 years. Do we have candidates? Do we have a platform?
24 posted on 03/05/2009 9:54:05 PM PST by April Lexington (Study the constitution so you know what they are taking away!)
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To: jazusamo

It is almost certain it will lead to war.


25 posted on 03/05/2009 9:54:52 PM PST by pissant (THE Conservative party: www.falconparty.com)
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To: Dick Bachert

woowee..lol


26 posted on 03/05/2009 9:58:16 PM PST by wardaddy (I've known black people over 50 years, raised with them and by them.. Obama ain't BLACK, HE"S RED!)
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To: pissant

I agree pissant, it’s really sad.


27 posted on 03/05/2009 9:58:19 PM PST by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: Bullish

>Obama is proving that he’s either very stupid or very evil.

Who says the two are mutually exclusive? (After all, isn’t it always the ‘evil villains’ that get the ‘glorious honor’ of being the first killed when their summoned evil god appears to them?)


28 posted on 03/05/2009 10:01:52 PM PST by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: pissant
"My Mommy said you destroyed her retirement and mine, too! WAAHHH!!!"


29 posted on 03/05/2009 10:05:15 PM PST by Deo volente (Freedom went out not with a bang, but with a "stimulus".)
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To: Dick Bachert

Article 1, Section 9, paragraph 8:

No title of nobility shall be granted by the United States: and no person holding any office of profit or trust under them,[e.g., a US Senator] shall, without the consent of the Congress, accept of any present, emolument, office, or title, of any kind whatever, from any king, prince, or foreign state.


30 posted on 03/05/2009 10:27:24 PM PST by 1000 silverlings (Everything that deceives also enchants: Plato)
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To: pissant
How is that going to play out?

I imagine there will be protests... then what?

31 posted on 03/05/2009 10:29:00 PM PST by Cobra64
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To: pissant

America elected this low-life, lying, scum bag, closet Muslim faggot; now, LET AMERICA GET WHAT SHE DESERVES. Let Hollywood and Wall Street both, go to hell in a handbasket.

You wanted B. Hussein Obama America, now, by damn, you got him; deal with it. Have a nice world-wide Depression.


32 posted on 03/05/2009 10:38:29 PM PST by no dems (GOP Ticket for 2012: Sarah Palin and a Conservative Male with a Hispanic surname.)
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To: jazusamo

“Hopefully his radicalism doesn’t kill thousands of Americans.”

In time, it will.

Just because someone’s heart is beating doesn’t mean their alive. He’s been killing peoples futures each day he’s been in office, and will kill millions more before he’s gone.


33 posted on 03/05/2009 10:50:56 PM PST by Gator113 (For America to survive, Obama must fail.....)
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To: Chgogal

W was a bad president. He’s the one who opened the door to Obama and what Obama is doing. Hoover gave us FDR. W gave us Obama.


34 posted on 03/05/2009 11:01:00 PM PST by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: Republic

Tell me how the baby boomers (who largely voted for him it seems) are going to survive this? In the last few months they have lost roughly half their retirement savings, and roughly half their equity in their primary residences.

These are people who were planning to retire in the coming years and certainly in the next decade. This is worse than just having less to retire on. As they near retirement, they will contribute less to the markets and draw down more. They will liquidate into every rally over the next decade or more to stash cash for their retirement.

Since boomers outnumber all others, they may end up drawing out of markets more than all others put in. This means stagnant or barely rising markets going forward.

I cannot see how the stock market can recover at all. Maybe housing can be propped up with some aggressive federal lending programs (maybe, if that... though there is the benefit of immigration/population growth to fuel real estate), but imho equity markets are dead money for long term investors. It took some 30 years for the market to recover what it lost during the 1929 crash. I think we’re gonna experience the same.


35 posted on 03/05/2009 11:07:58 PM PST by monkeyshine
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To: pissant

The Democrats are nothing more than a murderous criminal enterprise. One hopes a few smart conservative lawyers will bring a RICO action, put the DNC out of business and start slapping its leaders and followers in jail.


36 posted on 03/05/2009 11:14:13 PM PST by libsmacker75
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To: Moonman62
W gave us Obama

The banking crisis, triggered by a precipitous selloff of money market funds, gave us Obama.

37 posted on 03/05/2009 11:14:29 PM PST by NutCrackerBoy
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To: NutCrackerBoy
http://www.youtube.com/watch?v=eW9viaJatpo

I'm just doing the job other FReepers won't do.

38 posted on 03/05/2009 11:24:20 PM PST by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: tflabo
Your URL is broken. Here is the correct one:

http://www.youtube.com/watch?v=DdLX3aRNaNk

39 posted on 03/05/2009 11:53:55 PM PST by CardCarryingMember.VastRightWC (If my kids make a mistake in the voting booth, I don't want them punished with a community organizer)
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To: pissant
of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy

WSJ saying it like it is, as has been expressed for months on FR. But it's mainstream now and it is a blow right btw the eyes of Obama.

40 posted on 03/06/2009 12:18:32 AM PST by TheThinker (Shame and guilt mongering is the Left's favorite tool of control.)
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To: NavyCanDo
My bumper sticker:

Everything Obama says comes with an expiration date.

41 posted on 03/06/2009 12:21:22 AM PST by TheThinker (Shame and guilt mongering is the Left's favorite tool of control.)
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To: Moonman62

W was an average to an above average president. Time will tell us which one. He was a below average communicator and this worked to Obama’s benefit. Obama was inevitable, though. I think it’s better to face him now than later.


42 posted on 03/06/2009 12:28:06 AM PST by TheThinker (Shame and guilt mongering is the Left's favorite tool of control.)
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To: pissant

It’s nice to make comparisons to Carter and Clinton but the sobering truth is that there is no precedent for what this president is trying to do to our country.

No precedent in American history, anyway.


43 posted on 03/06/2009 12:51:15 AM PST by beagleone
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To: pissant
Photobucket
44 posted on 03/06/2009 1:06:47 AM PST by Tex Pete (Obama for Change: from our pockets, our piggy banks, and our couch cushions!)
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To: Moonman62
Moonman, we, the People, voted Obama President. We, the People, have to take responsibility for not knowing who the Speaker of the House is, what parties control the Senate and House, etc.

We, the People, are dumber than rocks for allowing Democrats to rule the cities. We, the People, are dumber than rocks for allowing the Government to rob our paychecks each and every week. Moonman, it is we, the people who are to blame. Until we, the People, wake the heck up, we will continue to get the leadership we, the People deserve.

(Just so you know, I am using the royal "we" because I didn't vote for Bamabi.)

45 posted on 03/06/2009 5:05:27 AM PST by Chgogal (Don't look at me, Comrade. You elected them! Hail to our very own President Mugabe!)
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To: Chgogal
Jimmy Carter had a habit for blaming the People for his failures.

The GOP lost because of poor leadership and bad polices. Yes, the Democrats are bad, too, which means the GOP has to be really bad to in order to lose. It's the GOP leadership that needs to wake up and listen to the people, and believe in the people and the country the way Reagan did.

I don't want the GOP to be the minority party for 50 years the way they were after Hoover. I want them to wake up, stop trying to match the corruption and laziness of the Democrats, and go back to being the party of great ideas that make America great.

46 posted on 03/06/2009 5:34:28 AM PST by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: Chgogal

He’s definitely in a class by himself. In part because he found the barn door wide open.


47 posted on 03/06/2009 5:52:29 AM PST by Huck ("He that lives on hope will die fasting"- Ben Franklin, Poor Richard's Almanac)
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To: pissant
A similar effect will exacerbate tax flight from states like California and New York, which rely on steeply progressive income taxes collecting a large fraction of revenue from a small fraction of their residents. This attack on decentralization permeates the budget -- e.g., killing the private fee-for-service Medicare option -- and will curtail the experimentation, innovation and competition that provide a road map to greater effectiveness.

As always, the most liberal states showing the way. . .
48 posted on 03/06/2009 6:44:32 AM PST by rightwingintelligentsia (Where do I sign up for jewelry stamps?)
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To: jazusamo
Hopefully his radicalism doesn’t kill thousands of Americans.

Barack Obama will kill MILLIONS of Americans.

On purpose.

49 posted on 03/06/2009 6:45:45 AM PST by Lazamataz ("We beat the Soviet Union, then we became them." -- Lazamataz, 2005)
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To: Bullish
After Obama gets done with this economy, if elections are still permitted, there will not be a black president again in my -- or my grandchildrens -- time.

And I haven't even had kids yet.

50 posted on 03/06/2009 6:47:13 AM PST by Lazamataz ("We beat the Soviet Union, then we became them." -- Lazamataz, 2005)
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