Investors Tell Obama What They Think Of His Presidency

The news media did a fantastic job of teaching the ignorant that Barack Obama would be the savior of our economy.  But investors were smart enough to know better.

Even as we were being force-fed a constant media diet of “The bad economy is clearly all Republicans’ fault” that FAR exceeded any sane dietary requirements, actual investors and actual business professionals knew enough to get up and run away from the dinner table screaming.

People who had a clue knew that Obama would be bad for the economy.  But nobody listened to them.  Experts knew that if you wanted the stock market to reach its maximum potential, elect Republicans.  An overwhelming majority of CEO’s (to the tune of 74%) knew that an Obama presidency would be a disaster.  Actual job-creators favored McCain over Obama by a 4-1 margin.  And Wall Street has a very real – and justified – fear of Obama.

But what did any of them know?  Let’s turn on our television and see what the attractive liberal news personality says instead.

You voted for Obama.  And now you’re going to pay for it.

Noel Sheppard at Newsbusters summed it up:

Barack Obama not only made history becoming the first black President of the United States Tuesday, but he was also inhospitably greeted by the biggest January Inauguration Day stock selloff ever.

Sheppard reported the mainstream media schtick that the market often drops a little when a new President is inaugurated, and then pointed out:

However, it has to be distressing for the new President and his team to see stocks plummet more than on the day JFK was assassinated. And, they can’t be pleased by how the selloff accelerated after Obama finished his Inaugural address.

And it’s not just Obama’s big party day that’s being received terribly in the markets.  In the January that has seen so much hype of “hope” in the Obama “change,” the market has had its worst open to a new year – and a new President – ever.  This is the worst January stock performance to ever usher in a new President.

Ordinarily, markets are somewhat hesitant to greet new Presidents because they’re not sure what he’s going to do, or how his actions will affect them.  But in the case of Obama, they DO know.  And they know it isn’t good news.

They know that Obama’s move to cut our nation off from domestic oil and focus on incredibly expensive and unproven  “alternative energies” are going to be an economic nightmare for this country.  They know that Obama’s promised move to bankrupt the coal industry – which supplies nearly half our electricity – will be a disaster for the economy.  They know that Obama’s socialist embrace of global warming will be a disaster for the economy.   They know that Obama’s plan to raise taxes on the wealthy – who invest their wealth in the economy – and capital gains taxes will be a disaster for the economy.

But the media so fawned over him.  And deliberately made sure that voters were kept from seriously thinking about the fact that Barack Obama has never governed, never ran anything (including his campaign, which was run for him, not by him), and has repeatedly taken dangerous and disastrous economic positions.

Juan Williams had a lot to say yesterday about the first black President and the fawning treatment he was accorded by a biased, dishonest, propagandistic media in a Wall Street Journal article:

During the Democrats’ primaries and caucuses, candidate Obama often got affectionate if not fawning treatment from the American media. Editors, news anchors, columnists and commentators, both white and black but especially those on the political left, too often acted as if they were in a hurry to claim their role in history as supporters of the first black president.

For example, Mr. Obama was forced to give a speech on race as a result of revelations that he’d long attended a church led by a demagogue. It was an ordinary speech. At best it was successful at minimizing a political problem. Yet some in the media equated it to the Gettysburg Address.

The importance of a proud, adversarial press speaking truth about a powerful politician and offering impartial accounts of his actions was frequently and embarrassingly lost. When Mr. Obama’s opponents, such as the Clintons, challenged his lack of experience, or pointed out that he was not in the U.S. Senate when he expressed early opposition to the war in Iraq, they were depicted as petty.

Bill Clinton got hit hard when he called Mr. Obama’s claims to be a long-standing opponent of the Iraq war “the biggest fairy tale I’ve ever seen.” The former president accurately said that there was no difference in actual Senate votes on the war between his wife and Mr. Obama. But his comments were not treated by the press as legitimate, hard-ball political fighting. They were cast as possibly racist.

This led to Saturday Night Live’s mocking skit — where the debate moderator was busy hammering the other Democratic nominees with tough questions while inquiring if Mr. Obama was comfortable and needed more water.

Barack Obama was able to buy the White House with big money such as has never before been seen.

Obama shattered all records by raising more than $740 million from individuals during the campaign, more than George W. Bush and John Kerry combined in the 2004 presidential election.

“Obama was able to outspend the McCain-Palin ticket by a margin of four to one in the final stretch of the campaign in key battleground states.”

And – only after the election, we learned that the constantly-reported “fact” that Obama was raising all this money from “small donors” was a bright shining lie.  We find out that Obama took millions from overseas donors.  We find out that there were all sorts of fraudulent shenanigans going on in campaign financing that Obama never even tried to correct.

Obama bought the White House.  The American people are going to dearly pay for it.

Just remember that the people who knew better were predicting an Obama presidency would be an unmitigated disaster before the fact.  Just remember that economic forecasters have predicted a total collapse of our economy by 2012 as massive government debts trigger massive inflation followed by massive devaluation of our currency.

I wrote an article back in August entitled, “Messiah Obama Really IS The Second Coming… Of Jimmy Carter.”  I would argue now that the miserable economy under Carter is the absolute best we can hope for from Obama – who is pursuing many of the same policies as Carter while planning to repeat the worst of the worst policies by liberals from the past.  Bill Clinton famously said in his 2nd Inaugural Address that “The era of big government is over.”  Barack Obama promises in his Inaugural Address to embrace big government on a scale that this nation has never seen before.

We are going to test a theory: can you dig your way out of a hole by digging a bigger hole and by digging it faster?  Obama is betting big on it – and so is the American electorate who voted big for him, for Harry Reid, and for Nancy Pelosi.  But then, the media kept them ignorant about the fact that the last time we tried this stuff under FDR actually kept the Great Depression going for nearly three times longer than it should have lasted.  Stupid is as stupid does, as Forrest Gump said.

The media – true to its liberal and socialist ideology – never corrected the myths of the Great Depression.  And they never mentioned the massive pitfalls of New Deal thinking.   Instead, they just kept hyping the statement that the bad economy favored Democrats, all the while using their media techniques to transform Barack Obama from an inexperienced, half-of-one-term Senator to the hope of the entire world.

Juan Williams said this:

There is a dangerous trap being set here. The same media people invested in boosting a black man to the White House as a matter of history have set very high expectations for him. When he disappoints, as presidents and other human beings inevitably do, the backlash may be extreme.

And the backlash ultimately will be extreme, when there are (as Gerald Celente predicts) food riots in the streets.  The media is completely invested in Obama.  They lied to put him in office, and now they must lie to keep him there.  They hyped the terrible economy to sell Obama; now they are hyping the terrible economic situation to take all blame away from Obama in advance.  Soon they will hype good things about the economy to make us all believe that Obama is fixing everything.  They will not let you know what is really going on because their interest is more in propping up their “investment” than it is in reporting the truth.

This country is in a great deal of trouble (to conflate “Great Depression” and “New Deal”).  In spite of the media propaganda, more and more people are beginning to realize it.

12 Responses to “Investors Tell Obama What They Think Of His Presidency”

  1. Violator Says:

    Your entire argument is based on the idea that we should care what Wallstreet executives and CEO’s think about Obama. These are the same people who’s unbridled greed and lack of forsight caused the financial crisis we are in now. Sorry, try again. You candidate lost in no small part because he showed (by his own admission no less) that he didn’t have even the most minimum understanding of economics. Like most Republicans, you will keep making miserable excuses for the failings of your leaders and attack those who haven’t even had a chance to do anything. This is just tired. I don’t think, by any mean, that Obama is the messiah, but he at least deserves a chance to succeed or fail on his own merits before hacks like yourself try to pull the rug our from underneath him.

  2. Michael Eden Says:

    I suppose you’re right. CEOs, business professionals, investors. What the hell do they know? We should have a one-half-of-one-term Senator whose never ran any kind of a business at all tell us how to run our lives.

    I’m sorry. Mea culpa. Mea culpa. Mea culpa. What on earth was I thinking? I think I’ll go with your logic and put my two-year old over the family finances. Experience is only bad, after all.

    Your last sentence is why people like you make me nauseous. You intellectually and morally dishonest hypocrite. Eight years of unrelenting criticism and skepticism of George Bush. The man was called a fraud from the get-go. The man’s IQ and values were mocked from the get-go. From people just like you. But then you hypocritically demand that I “give Obama a chance”? As Bart Simpson says, “Eat my shorts.”

  3. Carol Says:

    Violator, You must be about the most ignorant person to have made the comments about the stock market being made up of a bunch of CEO’s and wall-street executives. Do you know who the real stock market is made up of? Your neighbors, maybe your mother/father and certainly many of your own family members. Anyone that has worked and saved by using the market as a way of staying ahead of inflation is a part of the market. Oh, people who contribute their money to the market also helps businesses; it is the American free market at it’s best….or it was. Because of your democratic Party members: Barney Frank and his bunch of greedy power wielding termites all your friends and family lost more than half their savings. I’m not sure you understand that word “savings”. It means we didn’t buy I-pods, big screen TVs or take trips to far off places. It is plain to me that you don’t save, you must be one of those Dem’s that thinks Obama is going to write a check to you every month because you deserve it. Do you know what SAVE means! It is Wall Street. You make me sick!
    signed a baby-boomer, saver and nice person that gives to the food-bank. We are not all CEO’s Shame on you.

  4. Old-Timer from 1940 Says:

    If I look at the Stock Exchanges of the World this week I see a chorus of investors telling the Exalted One exactly what they think. And the jackhammer workers up the road from where His Highness spoke did’nt even bother about the speech [have you seen that report?]. Poor guy does’nt have a clue what he is doing there.

  5. Michael Eden Says:

    Carol,
    I’m glad you added that. I thought of it after I submitted my response to Violator, but I had already logged off.

    Yes. It is INVESTORS who are rejecting Obama, not just “elites.” Since our problem is largely being created by a loss of liquidity due to no investment/loaning, our economy is doomed without investors. Ordinary people. Violator’s case is completely without any merit whatsoever.

  6. Michael Eden Says:

    I haven’t. Sounds like it would be fun viewing.

  7. Old-Timer from 1940 Says:

    You dealt with Violator the perfect way to do it. At least he admitted not thinking that Obama is the Messiah but attacked you for not believing the very same thing. Good for you.

    Here is the link to the jackhammer story. Look at the photo of the crowd of millions [who counted?] and please note the 7 year old in the end paragraph.
    Obama Inauguration Speech Ruined By Incessant Jackhammering

    You may also find the article by visiting El Campeador’s Weblog

  8. Michael Eden Says:

    Oops. Something went wrong, Old-timer. I don’t see the link.

    Personally, I’d rather listen to the jack hammer than Obama drone on. I remember during the primaries, when Hillary, McCain, Obama, and the others in would win a state primary and give a speech. Everyone else’s was quick and done; Obama just went on and on and on and on. I quit listening to his speeches back then after the first bunch were eternal dronings.

  9. Old-Timer from 1940 Says:

    I so much would like you to see this to make you smile after all the words with Rob_N but I know very little about hot linking so I just got this by ‘’copy and paste’’ and hope you can locate it. It is very good.

    Article:
    Obama Inauguration Speech Ruined By Incessant Jackhammering
    January 21, 2009 | Issue 45•04

    In: http://www.theonion.com

  10. Michael Eden Says:

    Yep, you got it.

    I found the article at (and copied the url at the top of the page to paste here):
    http://www.theonion.com/content/news/obama_inauguration_speech_ruined

    That’s a good one! I’ll post the article under my own title, “Angels at work: constant jackhammering unravels Obama’s speech”

  11. Tim H Says:

    Hey Michael I actually agree with Violator. First I will break down your comments to him. On Bush: Your wrong! Bush barely won office in 2001 after Supreme Court stopped the recounts. I don’t see the argument how GORE would have eventually won. If Gore wins home state (Tenn) GORE wins. But considering how Bush barely won… A slightly right leaning Presidency is what I thought we were getting. Instead Bush let Cheney take this country way to the right. Secondly Bush attitude if you don’t agree with me get off the boat attitude soured me. However after 911 the country rallied around Bush. Instead Bush used this popularity to help galvanize more seats in congress for the GOP. Then of course Iraq which I still have tapes of Kudlow and Cramer promoting the Iraq war as a piece of cake along with the administration.
    So the GOP had control of congress and Presidency in 02 and now have lost both. That’s because of the so called liberal media which is mostly controlled by large corporations who benefit from Bush’s tax cuts? Talk about being in denial Michael!

    As for the markets which you have ranted about tanking after Obama came into office. Let’s see… Obama has been in office less than 2 months. As violator pointed out these CEO’s, Financial execs, hedge fund managers etc… That are sooo INTELLIGENT! Weren’t these the same guys that were packaging these mortgage securities as Triple A investment grade paper when they were risky as hell. Also the lenders who gave money to people who had no business getting home loans at the amount of loans. Plus throw in lack government oversight under Bush administration. So tell me Michael if these guys are sooo smart how come all this crooked BS went on and wasn’t finally found out until too late and Wall Street along with main street has now crumbled? These smart guys were the one’s guarding the hen house were they not?? Yet now everyone is suppose to listen to what these guys think about what Obama is doing and totally buy into what they are preaching?? Ya know what I have investments in my 401K AND I personally bought 500 shares of AMSC which is involved in wind power and power grid wiring at $10 when market tanked last fall. It’s had it’s up and downs but still at $14.97. So hey I am in the green. Obama is actually right about investing being long term. I don’t need my 401K for another 15 years. Investing 101 is about long term investing. I went to cash at end of year 70%. My bottom is DOW 6200 maybe 5000 and I am buying if market hits more lows in those ranges. As for CEO’s… Warren Buffett supports Obama. The best investor, most richest man in world. He has also advised Obama. As for the tax policy letting Bush tax cuts expire for those $250,000 or higher. Clinton’s tax code in 90’s was same for these people. I believe the economy grew pretty well in 90’s didn’t it? The bottom line is this: When DOW at 14000 and all these wall streeters making big money. The middle class was shrinking. You can look up the stats… Over last 8 years more wealth in this country has been sponged up by the top 5% while the middle class wages have stagnated. Add on higher health care/energy cost. If the economy was doing great then you could make the argument about tax cuts. But the economy was tanking before Obama took office. Obama is looking at the long term prospects of this country as far as alternative energy being a force, getting off oil dependence, rebuilding the infrastructure, education etc… These are good for the long term health of this country. If you honestly believe as some Republicans are trying to sell that the entire $797 Billion stimulus plan is all Pork! If you believe that then I am wasting my time. Bottom line: Judge Obama in a couple of years rather than keeping a score sheet on his Presidency less than 2 months in office based on the markets declining. The game has changed and when the game changes. The markets sell off and recalibrate as to where to put the new investments. Right now it’s easier to sit on sidelines rather than invest. But eventually that money will come back in markets when the wealth managers figure out where to put said money in best investments. My money is in wind power/infrastructure. For all your bluster Michael I love see Obama sit down and debate these arguments with you. I would be willing to wager Obama would more then hold his own. Continue to take Obama lightly at your own peril! BTW isn’t it interesting that Wall Street hates Obama, markets tanking until today and yet; Obama still has high approval ratings. Why is that Michael?? Mayybe you should get out to main street and see why…

  12. Michael Eden Says:

    Tim, first of all – and I mean this as constructive criticism intended to help your argument – you need to learn to organize your thoughts into paragraphs. It is very difficult to follow you given lack of organization. Often, if you’ve written more than 5-7 sentences without a paragraph break, you’ve probably gone too far. I don’t mean that in an obnoxious way: it would help your writing dramatically.

    I had to go back and see Violator’s argument.

    He wrote:
    Your entire argument is based on the idea that we should care what Wallstreet executives and CEO’s think about Obama. These are the same people who’s unbridled greed and lack of forsight caused the financial crisis we are in now. Sorry, try again. You candidate lost in no small part because he showed (by his own admission no less) that he didn’t have even the most minimum understanding of economics. Like most Republicans, you will keep making miserable excuses for the failings of your leaders and attack those who haven’t even had a chance to do anything. This is just tired. I don’t think, by any mean, that Obama is the messiah, but he at least deserves a chance to succeed or fail on his own merits before hacks like yourself try to pull the rug our from underneath him.

    Let me say a couple of things in response to he and you. First of all, President Bush – as the successful governor of one of the largest states in the nation, and as an owner of a major sports franchise along with other businesses, most certainly knows the economy better than Obama. Just today, Obama referred to the P/E ratio as “profit-earning” when it’s PRICE-earning. He has NO economic experience whatsoever, and clearly doesn’t know squat about the economy, about business, or about investing.

    Your first paragraph doesn’t seem to have any relationship between anything that either Violator or I talked about. So I’ll just leave it.

    Second, I notice you cite Warren Buffet as some great expert even as you damn other Wall Street tycoons who side with conservatives. Pardon me, but your ideologue is showing. If Wall Street types shouldn’t be trusted, then don’t trust them. But what you’re doing is essentially saying, “I trust them when they are liberals who support Obama, and I distrust them otherwise.” Warren Buffet was doing the same thing that the guys you damn were doing.

    Bill Clinton raised taxes by 2%, but he LOWERED the capital gains rate by 8%. So in that sense he encouraged investment. Obama has repeatedly talked about RAISING capital gains taxes, which will clearly reduce profits and discourage investment. One other thing to point out about Clinton was that the market just hit a 12 year low yesterday: in other words, the economy wasn’t valued THIS low since the Clinton years. Given that fact that Bush started out with a recession Clinton left him, then got hit with 9/11, then two wars, then Hurricane Katrina, his unprecedented 52-consecutive-month economic expansion is actually quite phenomenal.

    You mention that Bush failed to regulate. Nice as a liberal talking point; but completely false historically. President Bush TWICE tried to regulate Fannie Mae and Freddie Mac – the GSEs that created the financial meltdown by pushing CRA subprime mortgages, and then hid those bad loans by bundling them with good loans (net result that no one knows how much bad debt there even is anymore) – and Democrats blocked them in lockstep.

    Here are three youtube videos presenting C-Span footage you should watch if you’d really like to learn rather than simply spout liberal talking points:

    Even Bill Clinton blamed Democrats for failing to regulate:
    Bill Clinton on Thursday told ABC’s Chris Cuomo that Democrats for years have been “resisting any efforts by Republicans in the Congress or by me when I was President to put some standards and tighten up a little on Fannie Mae and Freddie Mac.”

    It is a fact that Fannie and Freddie are under Congressional oversight – NOT under Bush. And while Barney Frank and Democrats ran Congress and supervised the GSEs, they lost 90% of their value and collapsed. And less than TWO MONTHS before that collapse, Barney Frank – Chairman of the Housing Finance Committee – said:
    REP. BARNEY FRANK, D-MASS.: I think this is a case where Fannie and Freddie are fundamentally sound, that they are not in danger of going under. They’re not the best investments these days from the long-term standpoint going back. I think they are in good shape going forward.

    They’re in a housing market. I do think their prospects going forward are very solid. And in fact, we’re going to do some things that are going to improve them.

    Is the Porkulus ALL pork? Obviously not. But a great deal of it is liberal spending projects that Democrats have been trying to get for YEARS, and which had NOTHING to do with the economic crisis. You need to answer me this question: did Porkulus deal with the housing/mortgage market, which created the mess? No. Did it deal with the banking/loan market to stimulate lending? No. The simple fact of the matter is that it was NOT an attempt to fix the economy, but an attempt to push socialist spending projects.

    Your last couple of sentences get my attention. Hitler was a populist, too. And he was incredibly popular. Does that mean he was someone to follow? Clearly, not. Obama is still popular, but his popularity has now gone down something close to 30% – even as the stock market has plunged 30% in value since he was elected.

    If the investors you seem to have so much contempt for don’t start investing, we will be in the Great Depression. Period. You really need to learn that class warfare aint good for the economy; we NEED these guys to invest. But guess what: they’re not going to, because these professional investors DON’T trust Obama and DON’T think he’s going to bring success. They understand that his policies WON’T work. Keep demonizing them, thought, so that the stocks you talk about having bought won’t be worth diddly!

    The Wall Street Journal had an article the other day on how Obama IS responsible for the huge drop in the market, and explains what he’s doing wrong.

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