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2009-03-06 Home Front: Politix

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Posted by GolfBravoUSMC 2009-03-06 11:55|| || Front Page|| [1 views ] Top

#1 Charles Krauthammer has this to same about the Chosen One:
"At the very center of our economic near-depression is a credit bubble, a housing collapse and a systemic failure of the banking industry. One can come up with a host of causes: Fannie Mae and Freddie Mac pushed by Washington (and greed) into improvident loans, corrupted bond-ratings agencies, insufficient regulation of new and exotic debt instruments, the easy money policy of Alan Greenspan's Fed, irresponsible bankers pushing (and then unloading in packaged loan instruments) highly dubious mortgages, greedy house-flippers, deceitful home buyers.

The list is long. But the list of causes of the collapse of the financial system does not include the absence of universal health care, let alone of computerized medical records. Nor the absence of an industry-killing cap-and-trade carbon levy. Nor the lack of college graduates. Indeed, one could perversely make the case that, if anything, the proliferation of overeducated, Gucci-wearing, smart-ass MBAs inventing ever more sophisticated and opaque mathematical models and debt instruments helped get us into this credit catastrophe."

Posted by Anguper Hupomosing9418 2009-03-06 15:53|| 2009-03-06 15:53|| Front Page Top

#2 Krauthammer's point is the same one we've been making here for months. Barry doesn't give a damn about the economy or the market, it's his social welfare programs and the CONTROL they bring that is central to his efforts. Everything else is secondary.

Posted by Besoeker 2009-03-06 16:00|| 2009-03-06 16:00|| Front Page Top

#3 I am hoping the public anger & disgust over the economic crisis will overwhelm and discredit Obama's irrelevant & harmful socialist agenda. The Dow may wind up killing Obama's radicalism after all.

Posted by Anguper Hupomosing9418 2009-03-06 16:27|| 2009-03-06 16:27|| Front Page Top

#4 Usually the socialist take advantage of economic disorder or backwardness to get into the positions of power and control. However, they've yet to succeed in a country where people were the year before relatively well off and then they pull the screws to make the economy go into full tailspin. Too close to the blame line and events to not avoid being among the villains of the production. With the Porkout Act of '09 and the degree of either cluelessness or intent in killing the market, it will be the 'Obama Recession/Depression'.

Posted by Procopius2k 2009-03-06 17:22|| 2009-03-06 17:22|| Front Page Top

#5 So at current rate of fall - we have what, 28 days til Dow hits zero? There's little incentive at moment to get back in to the market so what's to stop this?

Posted by Rex Mundi 2009-03-06 17:24|| 2009-03-06 17:24|| Front Page Top

#6 But at least Obama will have a colorful military parade on May 1st.

Posted by DMFD 2009-03-06 19:18|| 2009-03-06 19:18|| Front Page Top

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