Skip to comments.The President Is Actually Trying to Talk the Markets Into a Panic.
Posted on 07/23/2011 3:45:55 PM PDT by Beaten Valve
An enraged Barack Obama just took to the nations 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 its 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 usingI didnt get my phone call returned, Ive been left at the altar, theres nothing Republicans will say yes todoes 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 isnt 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.
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.
” Thats how it appears to me. Hes trying to scare the hell out of Wall Street and the elderly. Its just the way fascist dictators operate.”
Obama is nothing but a street pimp.
Of course he wants a crisis.
let him keep talking, by all means.
A street pimp in the WH.
Now that’s what’s scary.
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.
Obama is a walking, talking fustercluck.
What Obama is doing to the country is even MORE scary. He is destroying the middle class.
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.
He’s destroying everything American.
AND he has George Soros helping him.
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.
Gold, it ain’t just for millionaires anymore.
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.
” AND he has George Soros helping him.”
Soros, and international globalist bankers who want us reduced to serfs.
The Mencken line about nobody going broke underestimating the intelligence of the American people seems to be an O’Bummer favorite also.
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?
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.
Soros has too much money and power.
He sells out people for money. Hmm
If he makes a speech, you must impeach.
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.
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.
Can you see the democrats claiming obama has lost his mind and they want to replace him with Biden? That’s funny.
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.
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?”
No, actually he doesn't care about that. He IS hellbent on destroying the economy, Cloward-Piven style. Glen Beck has his number (666).
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!"
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.
I disagree. I think Boehner has done very well - and I think Obama is completely lost.
I say give it to the SOB.
“...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!
It worked for Hitler.
Omoslem knows one thing — which tactics worked for prior dictators.
What a narcissist. This President pines for the cameras more than Paris Hilton.
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.
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.
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.
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.
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?
Watch this all backfire on him.
Just a reminder, August 4 is the next bond buying auction. If no one shows up, it will truly be disaster.
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.
Well...it could be a reflection of our collective moral character.
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?
It was totally irresponsible of him to suggest default might happen Friday night at his whiny press event.