Live Breathe and Die

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.