Archive for February, 2009
The Dow dropped 382 points today, the worst sell off in three months. The reason; the poor showing by the Obama administration with its ambiguous, scatter-brained pronouncements void of detail.
Where are the specifics?
The partisan vote in the Senate on the ‘stimulus package’ and the Treasury announcing some vague highlights of their bank bailout, the financial markets responded, signaling the sorry future of this country.
The thousands of experts on the financial markets, economics and history gave a clear signal of their lack of confidence in the steps the Democrats and Obama administration are ram-rodding down our throats. Very few details were included in Treasury Secretary Timothy Geithner’s speech today.
The market hates uncertainty. Thinking people hate uncertainty. The Obama administration has taken uncertainty in their proposals and pronouncements to an art form. With all of the criticism of the Bush administration, at least we had a good idea of what was being proposed.
Where’s the stimulus?
Now we have a stimulus package of dubious intent. It is not likely to provide much stimulus and it is loaded with pork-barrel spending comprised of Democratic causes, supporter payoffs and a promise of tax increases ahead.
As one securities industry pro said today regarding the bank package for the Treasury Secretary, “It was more like a pep rally than a tour of facts.” “It was very narrow and that was considered bearish. It’s clear the policy was not fully formed yet.”
Others on Wall Street lamented that there was nothing in the Geithner speech that was not published in the newspapers previously.
The last few sessions, the market had been up for a change. The Democrat-run Congress and Obama’s Treasury department wiped out those gains. This is the reaction in just the first day. What’s to come?
Financials take another hit
Today’s news was supposed to stimulate interest in the financial sector and reinforce investors confidence in this hard-hit segment, and instead, it did the opposite. Financial institutions were the hardest hit sector today.
This is where we stand today………..the Senate passes an $838 billion economic stimulus package and the Treasury Secretary announced plans to spend at least another $1 trillion of taxpayer funds. Considering that much of the stimulus package is waste and not stimulus, the cost to taxpayers and our county’s future is incredible and squandered.
Obama’s approach is misguided
The Obama administration is a runaway train. They are so quick to apply a socialist, far left-wing approach to our current problems that they are blind to many realities that could really help us.
Despite all of the criticism of Hank Paulson’s efforts during the last weeks of the Bush Administration, some recent evidence proves that he was on the right track. In testimony before the House Financial Services Committee, Fed Chairman Ben Bernanke, said that he was encouraged by certain improvements in the credit markets attributable to Secretary Paulson’s efforts.
Where is the sanity? Our nation is being run by a bunch of dimwits. Control of the House and Senate and the executive branch is in the hands of imbeciles who are more interested in their long-standing agenda’s instead of helping even one American.
“The time for talk is over. The time for action is now”
-Barack Obama describing how he will ignore the normal debate and discussion that has always preceded the passing of laws that affect all Americans. He has created and foisted upon America a bill that spends billions of taxpayer dollars to pay off Obama supporters. It does nothing to increase employment, stop job losses or stimulate the American economy. It’s a sham.
Forget the democratic process
Obama’s ‘deadline’ for getting a bill to his desk is Feb. 16th. Notice that he gave Congress a ‘deadline.’ That means that they are to go along with whatever he demands or else. That is called strongarmed tactics and it requires ramroding a bill through the Congress without vetting it……………just like the Obama cabinet………..and Obama himself.
Creation of fear as a propaganda tool
“An economy that is already in crisis will be faced with catastrophe”
“Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse”
-Barack Obama doing all he can to scare Americans, to twist the truth, to ignore history, to pressure his dissenters who have a legitimate stance and to set up blame for Republicans. He completely ignores a worse scenario in the eighties. He relies on those people who know little of history to support his scare tactics. He is an irresponsible president and, along with his executive orders, a maniacal autocrat.
Not walking in lock step
“This process stinks.” “We’re making this up as we go and it is a waste of money” “It is a broken process and the president, as far as I’m concerned, has been AWOL on providing leadership on something as important as this”
-Lindsey Graham telling the truth when few others have the guts to do so.
Barack Obama is dangerous. He has no respect for the process of lawmaking. Ironic for a former law professor. When the final bills don’t agree 100% with his agenda, then he will shove this bill down our throats. This is all part of thug politics, so this is all Obama knows.
He is not a leader. He has no characteristics of a true leader. Leaders know how to build a consensus. They understand compromise. They listen to others who may know more about differing subjects than they do.
Why worry about facts?
Obama recited a litany of fear-provoking pronouncements. He claimed that failing to immediately pass his bill would result in millions of additional job losses. The problem is that his bill contains nothing to stop job losses or create new jobs.
When the bill is passed and unemployment numbers continue to grow, he will claim that the reason is that Republicans stalled his bill. Those that don’t understand that the bill is void of job creation provisions will believe him.
Who needs integrity?
We have more serious problems in this country than just our economic problems. We have a president who has already made a mockery of his campaign promises. He said he would reduce abortions and he immediately increased abortions with his executive orders.
He said he would bring America together, and conservatives were ready to give him a chance, and then he reared his partisan head immediately after taking office. Remember, the time for talk is over. The foolish president is the divisive president.