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The President Is Actually Trying to Talk the Markets Into a Panic.
Commentary Magazine ^ | July 22, 2011 | John Podhoretz

Posted on 07/23/2011 3:45:55 PM PDT by Beaten Valve

An enraged Barack Obama just took to the nation’s airwaves to announce his effort to strike a deal with Republican Speaker of the House John Boehner has fallen apart. Perhaps for the first time in American history, this president is literally using this press conference to create a financial panic over the weekend about the opening of the markets on Monday. He is warning of disaster on Monday. Clearly, he wants to use this as leverage to frighten the GOP into passing the plan proposed by Senate Minority Leader Mitch McConnell, which will push the debt ceiling problem into 2013, but it’s still an entirely new and astonishingly reckless gambit.

Watching the insta-reaction on Twitter is very instructive. Liberals say this is good for Obama because it shows GOP recalcitrance. Conservatives say that he has remained so committed to enormous tax increases that he tanked the very possibility of a deal. Time will tell, but it strikes me that the heated rhetoric he is using—”I didn’t get my phone call returned,” “I’ve been left at the altar,” “there’s nothing Republicans will say yes to”—does not suggest he, Obama, feels he has been handed a gift by Boehner and the GOP. He claims to have put $1.5 trillion in cuts on the table, plus $600 billion in entitlement reductions, in exchange for tax increases of the same size. He says Republicans said they would accept a dollar in higher taxes (or “revenue”) for every four dollars in cuts, which isn’t exactly saying “no’” to everything. For their part, Republicans in the House passed their cut, cap and balance bill on Wednesday, and it included an increase in the debt ceiling, so even by his own account his criticisms of the GOP are not accurate.


TOPICS: News/Current Events; US: District of Columbia
KEYWORDS: budget; chaos; congress; deficit; hussein; johnpodhoretz; nero; zero
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Hussein is hell-bent on having a showdown...
1 posted on 07/23/2011 3:45:59 PM PDT by Beaten Valve
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To: Beaten Valve

That’s how it appears to me. He’s trying to scare the hell out of Wall Street and the elderly. It’s just the way fascist dictators operate.


2 posted on 07/23/2011 3:47:49 PM PDT by FlingWingFlyer (Hey Barry! Compromise this!!!)
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To: Beaten Valve
This is all stupid. Demand for American debt is already artificial. Bond vigilantes would have stopped this government spending a long time ago.
3 posted on 07/23/2011 3:48:16 PM PDT by Cheap_Hessian (I am the Grim FReeper.)
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To: FlingWingFlyer

” That’s how it appears to me. He’s trying to scare the hell out of Wall Street and the elderly. It’s just the way fascist dictators operate.”

Obama is nothing but a street pimp.


4 posted on 07/23/2011 3:49:56 PM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: Beaten Valve

Of course he wants a crisis.


5 posted on 07/23/2011 3:50:25 PM PDT by TribalPrincess2U (I pledge allegiance to the flag of the United States of America.. VOTE out the RATS!)
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To: FlingWingFlyer

let him keep talking, by all means.


6 posted on 07/23/2011 3:50:29 PM PDT by RC one (DO NOT RAISE THE DEBT LIMIT!)
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To: stephenjohnbanker

A street pimp in the WH.

Now that’s what’s scary.


7 posted on 07/23/2011 3:51:37 PM PDT by TribalPrincess2U (I pledge allegiance to the flag of the United States of America.. VOTE out the RATS!)
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To: FlingWingFlyer

Obama seems to regard H.L. Mencken’s criticism of politics, “The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary,” not as a criticism, but an operating manual.


8 posted on 07/23/2011 3:52:28 PM PDT by The_Reader_David (And when they behead your own people in the wars which are to come, then you will know. . .)
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To: Beaten Valve

Obama is a walking, talking fustercluck.


9 posted on 07/23/2011 3:54:10 PM PDT by upsdriver (to undo the damage the "intellectual elites" have done. . . . . Sarah Palin for President!)
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To: TribalPrincess2U

What Obama is doing to the country is even MORE scary. He is destroying the middle class.


10 posted on 07/23/2011 3:54:14 PM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: Beaten Valve

He’s also looking for a way to pass the buck. HIS economy is sucking air right now and that reality is finally getting some traction according to recent polls. The old blame Bush meme is losing its saleability. I think he’s getting ready to shift from blame Bush to blame congress.

The guy may be the biggest wimp and whiner to ever hold elected office.


11 posted on 07/23/2011 3:55:41 PM PDT by bereanway
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To: stephenjohnbanker

He’s destroying everything American.

AND he has George Soros helping him.


12 posted on 07/23/2011 3:59:04 PM PDT by TribalPrincess2U (I pledge allegiance to the flag of the United States of America.. VOTE out the RATS!)
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To: TribalPrincess2U
Of course he wants a crisis.

Cloward-Piven!!!!

13 posted on 07/23/2011 4:00:30 PM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: Beaten Valve

A leader never shows anger, certainly not rage. The kenyan damaged himself immensely Friday. He lost the election in that press conference. He may not even serve out his term. I am sure he scared the democrats mightily, to have a lunatic on the loose like that. The sane ones are definitely now conspiring to ease him out, like they did to Nixon. The resident is too marxist and too determined to sink the western world.

World markets will melt down Sun-Mon, no matter what.

Both parties in Congress will shortly twig to the fact that Omuslim intends to default no matter what Congress agrees to do, and they will figure out how to override him.

If Congress does not override him, the whole schmear is coming down. Lehmans failure will look like a teddy bears picnic.


14 posted on 07/23/2011 4:02:02 PM PDT by FlyingEagle
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To: Beaten Valve

Gold, it ain’t just for millionaires anymore.


15 posted on 07/23/2011 4:03:32 PM PDT by RC one (DO NOT RAISE THE DEBT LIMIT!)
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To: Beaten Valve
How else can hour accomplish his Aim of transforming America into a country ruled by Socialism?

He MUST incite a Riot thru the invention of a Crisis.

I think THIS could be THAT moment where he seizes power because “America was about to suffer an irrecoverable disaster that was going to destabilize society”.

He fabricates the crisis, then he assumes the position of ruler - for our won good of course.

16 posted on 07/23/2011 4:04:19 PM PDT by R0CK3T
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To: TribalPrincess2U

” AND he has George Soros helping him.”

Soros, and international globalist bankers who want us reduced to serfs.


17 posted on 07/23/2011 4:06:07 PM PDT by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: FlingWingFlyer
Infamous Democrat quote: "Never waste a good crisis."
18 posted on 07/23/2011 4:06:37 PM PDT by DJ Taylor (Once again our country is at war, and once again the Democrats have sided with our enemy.)
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To: The_Reader_David

The Mencken line about nobody going broke underestimating the intelligence of the American people seems to be an O’Bummer favorite also.


19 posted on 07/23/2011 4:09:06 PM PDT by Scanian
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To: Beaten Valve
What a selfish, egotistical man.

He doesn't care how much hardship he brings down on Americans, as long as he gets his way.

How did we end up with a man of such low moral character as our leader?

20 posted on 07/23/2011 4:09:28 PM PDT by skeeter
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To: Beaten Valve; Candor7
Hussein is hell-bent on having a showdown...shutdown.

He doesn't want a resolution to this he wants a calamity he can try to pin on the Republicans. His strategy is Cloward and Piven and his tactics are Saul Alinsky. 0bama is engaging in economic terrorism.

21 posted on 07/23/2011 4:12:01 PM PDT by TigersEye (Wranglers not Levis. Levi Strauss is anti-2nd Amendment.)
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To: stephenjohnbanker

Soros has too much money and power.

He sells out people for money. Hmm


22 posted on 07/23/2011 4:12:09 PM PDT by TribalPrincess2U (I pledge allegiance to the flag of the United States of America.. VOTE out the RATS!)
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To: Beaten Valve
http://www.freerepublic.com/focus/f-news/2752636/posts
23 posted on 07/23/2011 4:13:51 PM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
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To: skeeter

If he makes a speech, you must impeach.


24 posted on 07/23/2011 4:14:05 PM PDT by ully2
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To: bereanway

No matter what happens either obama will get the credit or the GOP will get the blame. The republicans should have figured this out long ago. But, bright, doesn’t describe them.

obama has already scared the crap out of boner. Boner is being played like a fiddle.


25 posted on 07/23/2011 4:14:10 PM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: Beaten Valve

This sounds off the wall to some, but I honestly believe he was intentionally trying to start a WWIII a few months ago. At one point he was simultaneously at war or bombing Pakistan, Libya, Yemen, Iraq, Afghanistan, while threatening Syria and calling Israel a rogue state. Someone, some where told him to stop it.

But, yes, Zero is determined to crash anything to manufacture a crisis of any kind before election day comes.


26 posted on 07/23/2011 4:15:35 PM PDT by 240B (he is doing everything he said he wouldn't and not doing what he said he would)
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To: FlyingEagle

Can you see the democrats claiming obama has lost his mind and they want to replace him with Biden? That’s funny.


27 posted on 07/23/2011 4:16:30 PM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: Republicans

"Republicans said they would accept a dollar in higher taxes (or “revenue”) for every four dollars in cuts"

Aren't you sweet making deals with my money. Screw you guys.


28 posted on 07/23/2011 4:19:53 PM PDT by I see my hands (Embrace misanthropy)
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To: skeeter

The power(s) behind 0 said the ‘time’ was ripe.

No other person would have worked so well.

He has been designed to be everything to everyone (won’t go into that long list) and a savior to boot.

He’s also clean. Now who can argue with that.

Fortunately, a million people have awaken to what he is and what he’s doing to achieve their goal before people realized it, but unfortunately it’s a little late.

That’s why they were acting in bullet speed to achieve their goal.


29 posted on 07/23/2011 4:21:12 PM PDT by TribalPrincess2U (I pledge allegiance to the flag of the United States of America.. VOTE out the RATS!)
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To: Terry Mross

If this was President Bush it would go something like this.

Phone call from the NY Times: “Tomorrow morning our front page is going to read, “President Bush implicated in Project Gunwalker scandal”. “Is there any comment you want to make about raising the debt ceiling?”


30 posted on 07/23/2011 4:22:57 PM PDT by EQAndyBuzz (As long as the MSM covers for Obama, he will be above the law)
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To: Beaten Valve
"Hussein is hell-bent on having a showdown..."

No, actually he doesn't care about that. He IS hellbent on destroying the economy, Cloward-Piven style. Glen Beck has his number (666).

31 posted on 07/23/2011 4:23:03 PM PDT by matthew fuller (Forget impeachment- Extradite obama, biden, napolitano, muller, clinton and holder. Country saved!)
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To: Cheap_Hessian
Demand for American debt is already artificial.

Agreed. But they can't admit that.

This is just more pressure to sign a bad deal. It's just like TARP. "We gotta do it - and we gotta do it NOW - or the world will end! There's no time to let people know what's in the bill - it has to be done NOW!"

32 posted on 07/23/2011 4:23:03 PM PDT by Principled
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To: FlyingEagle
The sane ones are definitely now conspiring to ease him out, like they did to Nixon.

Yes, it occurs to me that the few remaining adults in the RAT party must be getting ready to approach him with the suggestion that he declare that all of his goals have been accomplished, that he's saved the union and now will step aside so that he can continue his magificent work elsewhere.

33 posted on 07/23/2011 4:24:29 PM PDT by Salvey
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To: Terry Mross

I disagree. I think Boehner has done very well - and I think Obama is completely lost.


34 posted on 07/23/2011 4:26:30 PM PDT by Principled
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To: Beaten Valve
The Fed has been the largest purchaser of U S debt for 2 years, the whole thing is a dog and pony show!
35 posted on 07/23/2011 4:26:38 PM PDT by swamprebel ((jmho))
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To: Beaten Valve

I say give it to the SOB.


36 posted on 07/23/2011 4:30:46 PM PDT by KittenClaws (A closed mouth gathers no foot.)
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To: Beaten Valve

“...this president is literally using this press conference to create a financial panic over the weekend about the opening of the markets on Monday.”

The man-boy who cried wolf. LOL!


37 posted on 07/23/2011 4:35:30 PM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: FlingWingFlyer

It worked for Hitler.

Omoslem knows one thing — which tactics worked for prior dictators.


38 posted on 07/23/2011 4:36:44 PM PDT by LyinLibs (All moslems are somewhere on the killing-you spectrum)
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To: Beaten Valve

What a narcissist. This President pines for the cameras more than Paris Hilton.


39 posted on 07/23/2011 4:37:19 PM PDT by monkeyshine
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To: Principled

It is just leftist politics. If the extend and pretend policy is halted and truth enters the marketplace then the Democrats will blame these newly visible consequences of previous bad policy on the house Republicans. No matter what happens, most of these economic consequences are already baked in the cake, but now Democrats are trying to pin the blame on the right for votes on issues like this. However, like everyone on the right has been saying, or should be saying, the problem is the debt and not the debt ceiling.


40 posted on 07/23/2011 4:37:19 PM PDT by Cheap_Hessian (I am the Grim FReeper.)
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To: KittenClaws

Yes, the USA might be placed in the middle of a whirlwind if we default, but what the heck do we want? A dictatorship or freedom?

So the hell what other countries think or how it affects the poor little babies - they cant think past their jealousies. We need to “fail” to succeed.

Just my opinion.

We are The People of the United States of America.


41 posted on 07/23/2011 4:38:07 PM PDT by KittenClaws (A closed mouth gathers no foot.)
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To: FlyingEagle
The sane ones are definitely now conspiring to ease him out, like they did to Nixon

The heavy left National Socialists [Democrats]are, in the long run, a pack of Gadarene swine headed for the sea. But some of them have enough sense to fear the consequences of the kenyan Mickey having a paranoid schizophrenic break [meltdown] in front of the cameras. Think of John Nash[Russell Crowe]doing the insulin herky jerky in A Beautiful Mind. It could happen. And remember that with the media hiding the extent of Mickey's mental decline over the last two and a half years, we don't have a real clue. But when we see Mickey's increasingly bizarre attempts at last minute extortion and scare tactics against the markets and the elderly, it is fair to infer that Mickey is getting wound up real tight.

42 posted on 07/23/2011 4:39:16 PM PDT by Bedford Forrest (Roger, Contact, Judy, Out. Fox One. Splash one.<I>)
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To: Beaten Valve

My gold is doing just fine. And it’s up a bunch in the past week or so. So keep it going. It’s not hurting me right now.


43 posted on 07/23/2011 4:39:38 PM PDT by Vermont Lt (I can't think of anything clever, so I'll just say, "Obama sucks.")
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To: Beaten Valve

To make matters worse, he will not rely on just jawboning.

Since the FED has unlimited money available to it, it is the easiest thing for them to manipulate the market for “pennies”, as it were. This can be done by computers, almost invisibly, and has been used extensively to prevent a stock market decline, and is why the stock market has remained pretty much fixed despite a recession. The manipulation is blatant, often happening in off hours trading, and has been both noticed and recorded by alarmed stock market analysts.

It is usually done by making false trades of great size, far away from the bid/ask amounts, then instantly canceling those trades fractions of a second later, before someone could take advantage of them. The practice is highly illegal, but is being ignored by the SEC.

So basically, if Obama decrees that Bernanke at the Fed drop the DOW Industrials 237 points in the first hour of trading, he can make it happen, probably with the complicity of Geithner at Treasury, and Mary Schapiro at the SEC. The manipulation is so fined tuned that it will not be one point more or less than is intended.

And it applies to the other stock indices as well.

Does anyone seriously believe that Obama would not do this to get his way in the budget negotiations?


44 posted on 07/23/2011 4:42:48 PM PDT by yefragetuwrabrumuy
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To: Beaten Valve

Watch this all backfire on him.


45 posted on 07/23/2011 4:45:12 PM PDT by Biggirl ("Jesus talked to us as individuals"-Jim Vicevich/Thanks JimV!)
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To: Cheap_Hessian
"Bond vigilantes would have stopped this government spending a long time ago."

Just a reminder, August 4 is the next bond buying auction. If no one shows up, it will truly be disaster.

46 posted on 07/23/2011 4:47:35 PM PDT by AGreatPer (Support the troops. Every Friday night at Walter Reed.)
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To: Bedford Forrest
But when we see Mickey's increasingly bizarre attempts at last minute extortion and scare tactics against the markets and the elderly, it is fair to infer that Mickey is getting wound up real tight.

I don't know about that. Democrats have been using scare tactics on vulnerable and dependant populations for many years. Clinton did it all the time.

Tip O'Neill didn't, or at least I don't remember him doing it, and I don't think George Mitchell did either. But they were the last of what might be called the "semi-responsible" left-wing Democrat leadership in the Congress. In the last fifteen years or so, the crazies have completely taken over the Democrat party, top to bottom, and absolutely nothing is sacred to them. Except, I guess, for the never ending quest for more money to buy votes from their vote-cow constituents.

The long-term welfare of America? Forget it. They could not possibly care less. If America ceases to exist the second after they kick the bucket, that's fine with them.

They have the basically the same attitude toward "the future" or "America" as, say... I don't know... Ozzy Osborne, or Quentin Tarrentino. Or Larry Flint, or Larry Kramer, whatever.

47 posted on 07/23/2011 4:48:19 PM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
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To: skeeter

Well...it could be a reflection of our collective moral character.


48 posted on 07/23/2011 4:51:44 PM PDT by SuzyQue
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To: AGreatPer
Just a reminder, August 4 is the next bond buying auction.

Won't we just borrow money from ourselves to buy some debt from ourselves?

So strange sounding - but that has been happening. If we reach the ceiling and we cannot buy, hell what WOULD they do?

49 posted on 07/23/2011 4:54:24 PM PDT by Principled
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To: FlingWingFlyer
That’s how it appears to me. He’s trying to scare the hell out of Wall Street and the elderly.

100% correct.

It was totally irresponsible of him to suggest default might happen Friday night at his whiny press event.

50 posted on 07/23/2011 4:55:15 PM PDT by newzjunkey
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