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Home Front Economy
Obama Gets Taken to the Woodshed
2009-02-21
Only the crazies are happy with the First Poseur. And, as the title says, markets continue to sink
Last Oct. 13, in trying to explain why the market had sold off 30% in six weeks, we acknowledged that the freeze-up of the financial system was a big concern. But we cited three other factors as well:

  • The imminent election of "the most anti-capitalist politician ever nominated by a major party."

  • The possibility of "a filibuster-proof Congress led by politicians who are almost as liberal."

  • A "media establishment dedicated to the implementation of a liberal agenda, and the smothering of dissent wherever it arises."

    No wonder, we said then, that panic had set in.

    Today, as the market continues to sell off and we plumb 12-year lows, we wish we had a different explanation. But it still looks, as we said four months ago, "like the U.S., which built the mightiest, most prosperous economy the world has ever known, is about to turn its back on the free-enterprise system that made it all possible."
    Obama administraion: Insanity driven by a sense of entitlement and a strong ego
    • Posted by:badanov

    #6  He and his bozos are winging it.

    We're screwed.....
    Posted by: Uncle Phester   2009-02-21 23:33  

    #5  Journalists as Obazero cheerleaders? "Save us, oh Great One!"

    Journalists belong to a set of industries that face elimination without a bailout. That is why the fairness doctrine will emerge as the Media Bailout Act of 2010.

    It will take $billions from taxpayers to make the NYT competitive with Rush. Think of the billions more just to keep NBC afloat from the attacks of the evil Sean.
    Posted by: Skunky Glins 5***   2009-02-21 21:07  

    #4  A "media establishment dedicated to the implementation of a liberal agenda, and the smothering of dissent wherever it arises."

    In other words, journalistic standards at their lowest in the history of the United State...
    Posted by: Large Whumble3214   2009-02-21 19:14  

    #3  Wasn't there a book by that name?
    Posted by: Besoeker   2009-02-21 14:20  

    #2  It will take many fires in a lot of places. Then they'll have to link up in bigger and bigger movements with multiple spokesman/key figures who mostly agree with each other.
    Posted by: lotp   2009-02-21 10:49  

    #1  Market is going to 5500. No confidence. Santelli may have started a fire but between MSM and Obama's hard knocks Chicago anarchistic politics it will be tough to maintain a revolution. But then they said that about other movements in Prague, Philippines,Berlin, et.al. So it could work - let's hope so.
    Posted by: Jack is Back!   2009-02-21 09:30  

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