As I noted, the day following the re-coronation of Obama as the Pharaoh in Chief saw the DOW plunge to historically high levels as investors and businesses pretty much said, “To hell with it.”
The 313 point plunge in the DOW on November 7, 2012 was the second worst point-drop in history following a presidential election and tied for fourth in American history in terms of overall drop in value. Obama actually set the record for both categories when he was elected in 2008: the day of November 5, 2008 that followed the news that Obama would have his first four years to destroy the American economy was greeted with an almost 500-point drop or a 5% decrease in the value of the DOW. And November 7th’s DOW drop puts the kibosh on any assertion that November 5 of 2008 was somehow a fluke. So let’s say it with enthusiasm: “you’re #1, Obama! No one but no one can destroy an economy like you!”
In both cases, it was the economy saying that a president like Barack Obama who would declare war on jobs, on productivity, and pretty much on anything that makes America great, is akin to a judgment of doom for this nation.
Since Obama was reelected, investors and business have decided that the economy and job-creation will take a four-year vacation. The DOW has taken a nearly 700-point plunge since Obama was reelected as of today.
I know, I know, liberal. Those vile rich people should all die and their flesh should be ground up for food after all the wealth they worked so hard to build for themselves and for their children has been confiscated and redistributed.
Here’s the thing: jobs are going the way of the Dodo bird and rich people in America. Because people who voted for Obama don’t want jobs; they want socialism and communist redistribution of other people’s money.
The Lonely Conservative – and dang, I’m feeling kind of lonely since last week too, I’ve got to admit – posted these little factoids about Obama and the job boom that will now clearly never happen:
Initial Jobless Claims Soar To 439,000 – Updated
November 15, 2012
By Lonely Conservative
Isn’t it interesting that the jobless claims reported in the weeks leading up to the election were so low, and now that the election is behind us we get a report like this one? Of course, it was all unexpected to economists, who didn’t see the whopping 439,000 coming. Naturally, MarketWatch is doing their duty and blaming it on Sandy. You know, because it couldn’t have anything to do with the massive layoffs due to Obamacare.
The damage caused by Hurricane Sandy sent U.S. jobless claims soaring by 78,000 in the week ended Nov. 10 to an 18-month high of 439,000, according to the latest government figures. A Labor Department official on Thursday said claims surged in the eastern parts of the country that laid in the path of the storm. The destruction of job sites, closure of government offices and widespread power outages caused more people to file claims after an initial delay. Economists surveyed by MarketWatch had expected claims to climb to 380,000 on a seasonally adjusted basis. Initial claims from two weeks ago were revised up to 361,000 from an original reading of 355,000, based on more complete data collected at the state level. (Read More)
Good grief, when they revise this number what will it go up to?
If that’s not bad enough, have you seen how the stock market has been doing since the election?
Ever since Obama won eight days ago, stock prices are down about 4% as this is being recorded. So stocks peaked September 14—two months before the election—when the Federal Reserve announced the current version of quantitative easing, and stocks held up pretty much right through an election day rally.
But now that the election is over stocks are dropping with no bottom in sight. This is no accident given investors’ fears of higher taxes and continued big spending, including higher taxes on capital gains, which inevitably will tank the economy. In fact, I believe we are headed for a recession. (Read More)
Well, it’s not like people weren’t warned. If you’re an Obama voter and having second thoughts, you might want to re-think where you get your news in the future.
Update: Zero Hedge is a good place to get economic news, like this:
The latest initial claims data posted a multi-year high 104,548 surge in weekly NSA claims from 361,800 to 466,348, and even the Seasonally adjusted number soaring from 361K to 439K on expectations of a 375K print. In other words, a complete disaster for any economic data bulls. What is truly amusing is that the same Wall Street “experts” who set expectations were unable to foresee the Sandy effect that every “macrotourist” on Twitter apparently is so very aware of. Also, it is apparently also “Sandy’s fault” (now that the Bush excuse is back in retirement) that the prior week’s claims were revised from 355K to 361K. Basically, just as we said 3 weeks ago, ignore every negative data point: it is Sandy’s fault. However, for the snapback, when there actually is good news to be had, well, “four more years.” Finally, to all the Sandy apologists: is the logic here that: if Hurricane, then Fire everyone? Because that is what is implied… (Read More)
Update 2: Oh look – The Euro Zone is in another recession, so jobless claims can be blamed on that!
Update 3: The states with the highest number of new jobless claims were Ohio and Pennsylvania. Go figure.
That 439,000 new jobless filing is the worst since April of 2011.
“Forward” is a great slogan and everything, but the only way Obama is going to take America “forward” is to drive us off the fiscal cliff that was his bright idea to create in the first place (and see here for more because Obama set this disaster up from the very start). The fact of the matter is that it is a documented fact by one of the great journalists in American history that the idea for sequestration – i.e. the “fiscal cliff” or “taxmageddon” – came from Obama’s chief of staff Jack Lew and Rob Nabors (Obama’s White House Assistant to the President and head of the White House’s Office of Legislative Affairs). The money quote:
“At 2:30 p.m. Lew and Nabors went to the Senate to meet with Reid and his chief of staff, David Krone. ‘We have an idea for the trigger,’ Lew said. ‘What’s the idea?’ Reid asked skeptically. ‘Sequestration.’ Reid bent down and put his head between his knees, almost as if he were going to throw up or was having a heart attack. He sat back up and looked at the ceiling. ‘A couple of weeks ago,’ he said, ‘my staff said to me that there is one more possible’ enforcement mechanism: sequestration. He said he told them, ‘Get the hell out of here. That’s insane. The White House surely will come up with a plan that will save the day. And you come to me with sequestration?’ Well, it could work, Lew and Nabors explained. What would the impact be? They would design it so that half the threatened cuts would be from the Defense Department. ‘I like that,’ Reid said. ‘That’s good. It doesn’t touch Medicaid or Medicare, does it?’ It actually does touch Medicare, they replied. ‘How does it touch Medicare?’ It depends, they said. There’s versions with 2 percent cuts, and there’s versions with 4 percent cuts.” (Bob Woodward, The Price Of Politics, 2012, pp. 326)
So anybody who wants to assert that sequestration originated ANYWHERE other than the Obama White House is a documented liar. Not that liberals care about being documented liars.
Let me explain to you how Obama will use the sequestration monster that he created in terms of a cartoon analogy: the mad scientist builds a giant indestructible killer robot that he threatens to turn loose on America unless the nation bow down before him and do whatever he wants. Unfortunately, in the cartoons super heroes show up to defeat the giant killer robot and save the day, and all we’ve got as heroes now is a House filled with mostly shocked and awed Republicans.
Obama is threatening to use the vicious, economy murdering monster that he built (without ever actually bothering to acknowledge that HE was the one who built it, fwiw) to bring down America unless he gets the war on the rich that he so desperately wants as a true ideological Marxist.
It doesn’t matter to the American people that Obama invented sequestration. It doesn’t matter that sequestration will result in shockingly high unemployment and recession. It doesn’t matter that Obama is and has been saying all along he would plunge America into joblessness and serious recession unless his demands to directly attack job creators and investors are not met. It doesn’t matter that when America needed to be saved from sequestration, Obama was swearing he would veto any bill that tried to save the nation from his monster. All that matter is that Obama will be depicted by the mainstream media as the good guy and the hero and that the Republicans will be portrayed as the villains who somehow caused all this mess (because we’re not going to remember that Obama actually caused it).
This is a country that just boldly declared that it truly deserves to suffer. And it is going to get the true suffering that it so boldly deserves.
If you believe that businesses and investors think that Obama will be anything other than an unmitigated disaster for America, and that in cutting their own losses they will cut the thread that our economy is hanging upon, you are insane. There is absolutely no question that Obama-believers are morally insane, but you can add clinically “disassociated from reality” to the list.
Under Obama, America dropped from first place to seventh place after losing ground every single year of his presidency. Not that that matters one wit to liberals, of course.
We’ve already seen unparalleled “messiah-worship” of an American president in Obama: we’ve seen the man literally place his image on the flag because he thinks HE is America and the only thing that America should love. We’ve seen the Obama campaign team refer to Obama as “Black Jesus” to kick out Christ and replace the King of kings and Lord of lords with Obama. And yes, we’ve seen the enthusiastic determination of Democrats to replace Jesus with their REAL messiah, Obama.
Obama is Just Like Jesus, says his wife. There’s no such thing as “us and them”. Red and yellow, black and white, all are precious in Obama’s sight. The sheer worship is absolutely astonishing.
The Democrat Party under Obama is the Party that kicked God out of its platform before hastily deciding to put Him back in to a loud chorus of boos from the Party that Shakes Its Fist At God (see also here).
The Democrat Party under Obama or pretty damn much everybody else is the Party of Holocaust with 55 million innocent human beings butchered in a manner that I would not want to put an insect through. One day every single Democrat will stand before the Father while flames of wrath billow out from His Throne and give an answer for why they supported the ugliest mass murder of human life in all of history.
The Democrat Party under Obama is a Party that worships homosexuality and sodomy. And as much as they worship sodomy and homosexuality, they hate God, they hate the Bible, they hate Judeo-Christianity, they hate Western Civilization, and they viscerally hate and despise the name of Jesus.
And America has been paying for its support of this party for the past six years. Because when America decided that demagogic Democrats Nancy Pelosi and Harry Reid should run the House and the Senate back in 2006, unemployment was 4.4%.
And of course Democrats were bitching up a storm at that unemployment rate and swearing up and down that they could do better. And instead they led America “forward.”
“Forward” to the Antichrist and the mark of the beast.
According to the Bible, the coming Antichrist will be worshiped as God. Let me ask you, how does that happen?
Prior to the coming of the Antichrist, America and the rest of the world will experience a financial collapse the likes of which the world has never before seen. The world will suddenly find itself awash in wars and famines and mass deaths. Things will be looking grim beyond belief.
And then suddenly, as if riding in on a white horse to save the day, will come the figure that the Bible has described as “the beast.”
We are watching that collapse building and growing and metastasizing. And when we voted for Obama, we voted for the collapse and for the beast who would come because of that collapse.
And the same people who voted for Obama are the same sorry already-doomed fools who will worship the beast and enthusiastically take his mark on their right hands or on their foreheads. Because the mark of the beast will be nothing more than the ultimate, big government, liberal economic plan. It will represent everything that the Democrat Party – and for that matter the Communist Party – has been building toward for the last eighty years.
It wasn’t merely Obama who will have murdered America – although Obama will ultimately be the poster boy for the murder and downfall and collapse of America. No, this was a process began by Democrats and initiated and implemented under FDR in 1932 with Social Security.
The real “national debt” that will bankrupt America isn’t the $16 trillion that Obama is responsible for 60% of in only four misbegotten years as our Pharaoh; it’s $222 trillion, and in fact $224.75 trillion given the fact that that report of $222 trillion is a few months old now.
You need to understand that the Obama regime is “the Cloward and Piven presidency.” And you need to understand why Democrats are so relentlessly pushing for a complete collapse of the United States of America. As I wrote back in 2009:
The only question, given the massive debts Obama has already accumulated – deficits that literally are more than every president has accumulated from George Washington to George W. Bush, combined – is whether the Cloward-Piven strategy will yet have its chance to work. It might already be too late. When you look at our real national debt of more than $100 TRILLION and realize that we cannot possibly repay it, if you have any sense you should get more than a little bit concerned that our leaders simply WILL NOT control their spending.
The Democrats have an endgame: when the system collapses, the panicked people will turn to the very government that created the calamity and demand that it take care of them. And that is precisely what big government liberals have always preached.
Notice that we went from talking about debt of “more than $100 trillion” to “more than $222 trillion” since then. But also notice that there’s an endgame in mind: when America collapses, a desperate people who already demonstrated to all time and eternity that they are a) stupid and b) depraved will demand that the government step in to help them. And bingo, you’ve got the communist state that Democrats have dreamed of since liberals forced LBJ to quit trying to fight communism so they could join the communists.
Democrats like Obama are hoping for a complete American collapse because they believe they can steer it in the direction they desire. And of course, under the leadership of the Antichrist, that question will be answered with the words, “Yes we can!”