Posted on 02/25/2009 12:15:20 AM PST by Canticle_of_Deborah
“Obama wasn’t going to be pushed around by the whims of the market.”
See my #19 and Dr Sowell’s “Conflict of Visions” for an explanation of this mindset.
It’s a river in Egypt isn’t it.
It’s actually a worldview thing.
The left sees the individual elite wizard of smart as able to make decisions for the whole. They put no value on the unarticulated systemic knowledge of the market (or tradition, law, etc).
You are welcome.
By the way; when we dropped 250 points on the Dow on Monday and broke below the post-9/11 lows of 2002; and then rose by less than that, 230 points, on Tuesday to close at 7,350; on a technical basis we just put in a “ceiling”, not a “floor”.
Now, there’s nothing between here and the Black Monday October 1987 floor around 1,700 on the Dow...on a technical basis, of course.
On the way down, provided that occurs, many public (and private) companies will fail, just from the already underfunded defined benefit legacy costs alone.
We cannot mathematically fund the promises made by our government now; and we just received a laundry list of gigantic new spending last night - the market will react to this - badly.
“They” must know this. Ideology aside; they must know it. Therefore, there can only be one possible operative conclusion: it’s intentional.
Market down about 173 that I saw a few minutes ago.
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