Friday, September 17, 2021
HomeRecommendedMarkets Speak: Bamanomics as Dead as Lenin

Markets Speak: Bamanomics as Dead as Lenin

One of you Socialists over at the White House drag President Obama out from under his desk. Tell him to take his meds and face the truth that the last thing propping up his failed presidency just blew up. The stock market woes of the last two weeks turned into a full on rout today. Not unexpectedly, except for maybe some of the Street’s Ivy League whiz kids who had come to believe you really can print your way to prosperity.

Welcome to reality, kiddos. You fell for the economic terrorists at the Fed and the White House. You and your bosses sent Obama sacks of cash in 2008 and in return, he and his policies blew up American confidence and took a whiz on American exceptionalism. Learn from this because stupidly idealistic, un-American and liberal is no way to go through life. And by the way, kiss my rosy red.

The Dow Jones plunged over 500 points and the S&P dropped a shocking 60 points (4.8%), closing just above 1200. There is fear in the markets as the last of the Keynesians and eternal optimists come to grips with the failing economy, now strapped with trillions of extra Obama debt. The only thing stimulated by all the insane spending was gold and conservative dyspepsia.

NEW YORK (CNNMoney) — Stocks plunged Thursday in their single worst day since the 2008 financial crisis. The Dow tumbled 512 points — its ninth deepest point drop ever — as fear about the global economy spooked investors.

“The conventional wisdom on Wall Street was that the economy was growing — that the worst was behind us,” said Peter Schiff, president of Euro Pacific Capital. “Now what people are realizing is the stimulus didn’t work, and we may be headed back to recession.”

Heaven only knows how badly people really got hurt over the last two weeks and especially today. Bernanke has whipped millions of retired and nearly retired investors into stocks with his zero interest strategy. Sleep well, Ben. And forget about this!

As for you critters on vacation who couldn’t get serious about the staggering debt, how was your day, this black Thursday? You’ll try to float above all this failure, name-calling the innocent without shame or remorse. Not this time bung-holes. We’re taking names and one day soon we’ll be reading the worst of you your rights. . . if we decide you have any.

texasgalt
Texas native. Conservative small businessman with 31 years experience. Government should roll back the nanny state. No country can tax its way to prosperity. The question isn't who will let me but who will stop me?

10 COMMENTS

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10 COMMENTS

  1. Sure am glad I’m on your side, Tex.

    I hate Obama and crew with a white hot hatred. Can’t help thinking that the worse things get (and we’ve known they’ll get much worse for a long, long time) the sooner we’ll be rid of this plague on our Republic and our peace of mind.

    • Plague is a good word for it.

      My mom,83, was widowed at 52. She’s done right and hasn’t lived beyond her means. She has some liquid assets but they aren’t much good in a zero rate environment. Meanwhile, the live high crowd gets bailed out and has their debt re-worked.

      We’ve got millions upon millions on extended unemployment and millions have thrown the towel in because they’ve exhausted they’ve ridden out two years worth of unemployment.

      This aint my America.

      • Really TG I personally believe he’s already there. I don’t care what MSM polls cites. Gallup has admittedly (by Gallup) been +4 for Dems since way, way back, Nixon-Humphrey days. Everybody seems to look to Zogby today for the most accuracy, but I just can’t believe Obama’s as high as 46 or whatever, after the debt ceiling imbroglio which has hurt everyone in the polls. Any poll experts around here (in UP)?

        • A further thought in this vein: had we a parliamentary form of government, with the news this week about the stock market and the credit downrating, a Republican in the House would have been able to call for a “vote of no confidence,” the vote would be taken next week by simple majority vote (as happens in the UK) in Congress and Obama would be fired and sent home to Chicago. For now I will trust our founders got it right with our system which only affords incapacity, impeachment or resignation for removal from office, but this is just to illustrate what dangerous political waters Obama is in. I am guessing major Dems will start jumping ship or repositioning next week.

  1. Sure am glad I’m on your side, Tex.

    I hate Obama and crew with a white hot hatred. Can’t help thinking that the worse things get (and we’ve known they’ll get much worse for a long, long time) the sooner we’ll be rid of this plague on our Republic and our peace of mind.

    • Plague is a good word for it.

      My mom,83, was widowed at 52. She’s done right and hasn’t lived beyond her means. She has some liquid assets but they aren’t much good in a zero rate environment. Meanwhile, the live high crowd gets bailed out and has their debt re-worked.

      We’ve got millions upon millions on extended unemployment and millions have thrown the towel in because they’ve exhausted they’ve ridden out two years worth of unemployment.

      This aint my America.

      • Really TG I personally believe he’s already there. I don’t care what MSM polls cites. Gallup has admittedly (by Gallup) been +4 for Dems since way, way back, Nixon-Humphrey days. Everybody seems to look to Zogby today for the most accuracy, but I just can’t believe Obama’s as high as 46 or whatever, after the debt ceiling imbroglio which has hurt everyone in the polls. Any poll experts around here (in UP)?

        • A further thought in this vein: had we a parliamentary form of government, with the news this week about the stock market and the credit downrating, a Republican in the House would have been able to call for a “vote of no confidence,” the vote would be taken next week by simple majority vote (as happens in the UK) in Congress and Obama would be fired and sent home to Chicago. For now I will trust our founders got it right with our system which only affords incapacity, impeachment or resignation for removal from office, but this is just to illustrate what dangerous political waters Obama is in. I am guessing major Dems will start jumping ship or repositioning next week.

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