Posts Tagged ‘CEOs’

Another Failed Stimulus? What’s The Difference Between ‘Shovel-Ready Projects’ And ‘Construction Workers Ready To Get Dirty’???

September 7, 2011

Obama is previewing his “jobs speech” which he’ll be giving on Thursday, and it’s basically deja vu all over again.

Obama said Monday:

“On Thursday, we’re going to lay out a new way forward on jobs to grow the economy and put more Americans back to work right now. I don’t want to give everything away right here, because I want you all to tune in on Thursday, but I’ll give you just a little bit.”

We’ve got roads and bridges across this country that need rebuilding. We’ve got private companies with the equipment and the manpower to do the building. We’ve got more than 1 million unemployed construction workers ready to get dirty right now. There is work to be done and there are workers ready to do it. Labor is on board. Business is on board. We just need Congress to get on board. Let’s put America back to work.”

Let’s see: Obama’s $862 billion – actually $3.27 TRILLION – pork-laden boondoggle wasn’t big enough the first time. The stimulus totally failed. But if at first you fail, why then fail, fail again. And why not spend America into its grave failing while you’re at it?

“Ready to get dirty right now.” What does that remind me of?

Oh, that’s right. Watch this video to find out:

“Ready to get dirty right now” is just another damn way of saying “shovel-ready projects.”

What was it Obama said? You know, after selling the first massive stimulus as being one huge “shovel-ready jobs” package???

“Shovel-ready was not as … uh .. shovel-ready as we expected.”

But what the hell. Let’s waste another few billion tons of money. Let’s make sure we dig our way into a hole that will guarantee out complete economic collapse.

Please don’t be stupid.  It’s being leaked that Obama is going to propose another $300 billion for the same crap that conservatives RIGHTLY predicted would fail the last time when it was three times bigger.  It’s not going to work.  It’s going to fail for the same reasons the stimulus failed so abysmally before.

Back on October 20, 2008, I wrote the following, quoting CEO Magazine:

People are most concerned about jobs right now; maybe they should stop listening to mainstream media ideologues and start listening to the people who actually create jobs:

Chief Executive Magazine’s most recent polling of 751 CEOs shows that GOP presidential candidate John McCain is the preferred choice for CEOs. According to the poll, which is featured on the cover of Chief Executive’s most recent issue, by a four-to-one margin, CEOs support Senator John McCain over Senator Barack Obama. Moreover, 74 percent of the executives say they fear that an Obama presidency would be disastrous for the country.

“The stakes for this presidential election are higher than they’ve ever been in recent memory,” said Edward M. Kopko, CEO and Publisher of Chief Executive magazine. “We’ve been experiencing consecutive job losses for nine months now. There’s no doubt that reviving the job market will be a top priority for the incoming president. And job creating CEOs repeatedly tell us that McCain’s policies are far more conducive to a more positive employment environment than Obama’s.”

Disastrous for the country.” That doesn’t sound good. And that’s about as optimistic as the CEO’s get about Barack Obama:

“I’m not terribly excited about McCain being president, but I’m sure that Obama, if elected, will have a negative impact on business and the economy,” said one CEO voicing his lack of enthusiasm for either candidate, but particularly Obama.

In expressing their rejection of Senator Obama, some CEOs who responded to the survey went as far as to say that “some of his programs would bankrupt the country within three years, if implemented.” In fact, the poll highlights that Obama’s tax policies, which scored the lowest grade in the poll, are particularly unpopular among CEOs.

Bankrupt the country within three years.” There. You want socialism, you can have it. “Spread the wealth around” so that country itself is as broke as the defaulting homeowners and the defaulting mortgage houses we keep hearing about.

How can you people not see that these professional job creators were RIGHT?!?!?  These CEOs KNEW what they were talking about; how much more obvious can it get that Obama DOESN’T?!?!?

Please vote this disgrace out of office before it’s too late for America to recover.

Advertisements

The Hindenburg Omen: How Long Before Americans Cry, ‘Oh, The Humanity!’ As Obama Policies Fail?

August 31, 2010

A cartoonist used the image of the Hindenburg to describe the ideologically-biased mainstream media’s horrified reaction to Obama’s plummeting poll numbers back in July 2009:

But now there is another, far more frightening connection between Barack Obama and the infamous Hindenburg explosion.

Obama aint going down quietly: he’s taking the entire American economy with him:

The Hindenburg Omen IS Scary, but So Are the Fundamentals
Posted Aug 25, 2010 01:37pm EDT by Aaron Task in Investing

After tumbling below 10,000 yet again Wednesday morning, the Dow rebounded to close above that psychologically important level and was slightly higher early Thursday. Still, fear in the market is being expressed by the continued rally in Treasuries and widespread chatter about an ominous sounding technical indicator: The Hindenburg Omen.

The Hindenburg Omen has a roughly 25% accuracy rate in predicting big market upheaval since 1987, meaning it’s far from infallible but isn’t inconsequential either. The indicator’s creator, mathematician Jim Miekka, compares the Hindenburg Omen to a funnel cloud that precedes a tornado in a recent interview with The WSJ. “It doesn’t mean [the market’s] going to crash, but it’s a high probability,” he said.

Complex and esoteric even in the world of technical indicators, the Hindenburg Omen is triggered when the following occurs, Zero Hedge reports:

  • — The daily number of NYSE new 52-week highs and the daily number of new 52-week lows must both be greater than 2.2% of total NYSE issues traded that day.
  • — The NYSE’s 10-week moving average is rising.
  • — The McClellan Oscillator (a technical measure of “overbought” vs. “oversold” conditions) is negative on that same day.
  • — New 52-week highs cannot be more than twice the new 52-week lows. This condition is absolutely mandatory.

These criteria have been hit twice since Aug. 12, prompting Miekka to get out of the market entirely, The WSJ reports. Judging by the recent market action, many others are following suit — or at least moving in the same direction.

Worry List Lengthens

As Henry and I discuss in the accompanying clip, there are a lot of reasons to be worried right now that having nothing to with The Hindenburg Omen, the “Death Cross”, Mercury being in retrograde or myriad other indicators cited by market pundits of various stripes.

More fundamental reasons to be concerned include:

It’s the Economy, Stupid: This week’s weak durable goods and home sales reports are just the latest in a string of desultory data. In sum, the macroeconomic data strongly suggest the job market isn’t going to improve anytime soon. And if the job market doesn’t improve, there’s really not much hope for a turnaround in housing, consumer sales or anything else really. Oh, and the stock market is still expensive on a cyclically adjusted P/E basis, making it more vulnerable to an economic slowdown.

Unusual Uncertainty: On July 21, Fed chairman Ben Bernanke testified on Capitol Hill that the Fed’s forecast called for real GDP growth of 3%-3.5% for 2010 and 3.5%-4.5% in 2011 and 2012. Less than a month later, the Fed announced plans to buy Treasuries again (a.k.a. “QE2”) and, as The WSJ reported this week, there’s a tremendous amount of dissention within the Fed about the ‘right’ policy prescription.

Financial Follies: Whether it’s renewed concerns about Europe’s sovereign debt crisis, more U.S. bank closures or reports of commercial developers walking away from properties, it’s clear the problems in the financial system were not resolved by various and sundry bailouts and government stimulus … not by a long shot.

Good Politics vs. Good Economics: S&P’s downgrade of Ireland’s debt and Greece’s revenue shortfall show the short-term perils of the austerity measures that have swept Europe. But promising to cut government spending and slash deficits appears to be a winning political strategy in America right now. Certainly, it’s a key message of Republican and Tea Party candidates, who appear to have the momentum heading into the November mid-term elections. But if Europe’s ‘PIIGS’ are any example, gridlock might not be so “good” for the economy this time around, much less the financial markets.

Of course, the “good” news here is that there’s so much to worry about and the markets typically are darkest just before dawn.

CEOs of large corporations see a mess created by Obama to blame for the malaise that we haven’t seen since Obama’s long-lost twin Jimmy Carter was president:

This week, Intel CEO Paul Otellini and Jim Tisch, CEO of Loews Corp. both blamed the President’s policies for creating an environment of “uncertainty” that is crippling America’s economy.

The Obama administration is “flummoxed by their experiment in Keynesian economics not working,” Otellini said Monday in a speech in Aspen.

Higher taxes and more regulation add an additional $1 billion to building a semiconductor manufacturing plant in the U.S. vs. overseas, the CEO said.

As a result, “the next big thing will not be invented here. Jobs will not be created here,” Otellini said, warning of “an inevitable erosion and shift of wealth, much like we’re seeing today in Europe…this is the bitter truth.”

Loews’ Tisch made similarly themed comments in a Bloomberg interview on Wednesday. “Part of the problem is that business has very little confidence in what’s been going on and very little visibility,” he said.

But is it just CEOs?  Is it just big business?  Surely Obama’s anti-business policies are making things easier for the little guy, right?

Wrong:

For America’s Middle Class, the Hits Just Keep on Coming
Posted Aug 25, 2010 07:50am EDT by Aaron Task

A lot of ink and pixels have been spilled this week over the ICI’s report that equity mutual funds suffered net withdrawals totaling over $33 billion in the first seven months of 2010. Myriad reasons were cited for the trend, including a mistrust of stocks, the flash crash and an aging population. (See: The Next Bubble? Investors Flee Stocks in Droves In Favor of Bonds.)

Perhaps the biggest reason of all hasn’t gotten enough attention: Americans are making due with less and don’t have the money to put into stock funds, and many are taking money out of their investments to pay for basic necessities like food, clothing and shelter.

With wages stagnant for those who still have a job “a lot of people are having to tap into their nest egg to keep their living standards going,” says Damien Hoffman, co-founder of WallStCheatSheet. “A lot of people are living out of principal. There’s no other way to get around that.”

Fidelity’s recent report of a sharp increase in the number of 401(k) participants seeking loans or hardship withdrawals in the second quarter is further evidence of the disappearing middle class. “These are basically emergency ways to fund yourself. We think it’s a scary statistic,” Hoffman says. “Where is the middle class going to be if they draw down their 401(k)s drastically over course of next few years?”

Obama’s anti-business and profoundly socialist policies seek to punish business in every way he can.

A lot of Americans were probably happy with that in November of ’08.

But that was before they began to realize the truth that either all boats rise, or all boats sink.  Nancy Pelosi never drained the political swamp, as she falsely promised, but Barack Obama has certainly drained the ocean of economic opportunity (and very likely poisoned the bluebird of happiness, but that’s a crime for another day).  We need the rich, and the big businesses, in order to have jobs.  When they profit, the rest of us do.  And when they are demonized and attacked and regulated to death, the rest of us suffer, too.

Because name the last time a poor person hired you and gave you a good paying position.  If you’re a liberal, let me add, “It was never, wasn’t it, dumbass?”

It’s not really accurate to say that Obama is “anti-business”; he’s the MOST anti-business president ever.

A glance at Obama’s appointments and their actual world business experience should suffice to reveal how important business was to Obama.

Obama filled his administration with radicals out to “fundamentally transform America.”  And being the kind of man or woman who was oriented toward meeting payrolls and expanding businesses really didn’t need to apply.

And these eggheaded Marxists are seizing money from the private sector – and even from the future – and making terrible decisions about how to invest it.  We get turtle tunnels and monkey cocaine studies rather than infrastructure investment.  Had it been up to businesses as to how to invest the trillions of dollars that Obama pissed away, things would have been a lot better now.

I love the title from a US News & World Report article: “Obama’s Anti-Business Policies Are Our Economic Katrina.”  It’s written by Mortimer Zuckerman, who used to be a huge supporter of Barry Hussein, until he finally realized that “the One” was nothing more than a great big fart in the wind.

And even Obama’s own Democrat Party is now finally beginning to realize what a great big fart in the wind Obama truly is.  They hitched themselves to the Obama bandwagon; and now the wagon is burnt to ashes.

On November 4, 2008, the voters of the United States of America voted for national extinction.  And yet many are surprised that we’re now following in the footsteps of the Dodo bird.

Obama Backlash Beginning: Montana Defies Administration With In-Your-Face Gun Law

May 7, 2009

The state of Montana has drawn a line in the sand by passing a new gun law that virtually thumbs its nose at the federal government’s encroachment on state and individual rights.  If the tea parties were the first shot across the bow of liberal fascism, this is surely the second – and it’s being done with heavy artillery.

Liberals have been employing “sanctuary cities” across the nation that flouted federal immigration laws.  Now conservatives are taking that same idea to have “sanctuary states” to protect their citizens’ 2nd Amendment rights against liberal tyranny.  And Montana, Utah, and Texas are leading the nation in standing up to the federal government’s unconstitutional laws in direct violation of states’ rights.

Montana Governor Brian D. Schweitzer, for what it’s worth, is a Democrat.

Montana fires a warning shot over states’ rights
State is trying to trigger a battle over gun control — and make a point

updated 4:54 p.m. ET April 29, 2009

HELENA, Mont. – Montana is trying to trigger a battle over gun control — and perhaps make a larger point about what many folks in this ruggedly independent state regard as a meddlesome federal government.

In a bill passed by the Legislature earlier this month, the state is asserting that guns manufactured in Montana and sold in Montana to people who intend to keep their weapons in Montana are exempt from federal gun registration, background check and dealer-licensing rules because no state lines are crossed.

That notion is all but certain to be tested in court.

The immediate effect of the law could be limited, since Montana is home to just a few specialty gun makers, known for high-end hunting rifles and replicas of Old West weapons, and because their out-of-state sales would automatically trigger federal control.

Legal showdown
Still, much bigger prey lies in Montana’s sights: a legal showdown over how far the federal government’s regulatory authority extends.

“It’s a gun bill, but it’s another way of demonstrating the sovereignty of the state of Montana,” said Democratic Gov. Brian Schweitzer, who signed the bill.

Carrie DiPirro, a spokeswoman for the federal Bureau of Alcohol, Tobacco, Firearms and Explosives, had no comment on the legislation. But the federal government has generally argued that it has authority under the interstate commerce clause of the U.S. Constitution to regulate guns because they can so easily be transported across state lines.

Guns and states’ rights both play well in Montana, the birthplace of the right-wing Freemen militia and a participant in the Sagebrush Rebellion of the 1970s and ’80s, during which Western states clashed with Washington over grazing and mineral extraction on federal land.

Montana’s leading gun rights organization, more hardcore than the National Rifle Association, boasts it has moved 50 bills through the Legislature over the past 25 years. And lawmakers in the Big Sky State have rebelled against federal control of everything from wetland protection to the national Real ID system.

‘Made in Montana’
Under the new law, guns intended only for Montana would be stamped “Made in Montana.” The drafters of the law hope to set off a legal battle with a simple Montana-made youth-model single-shot, bolt-action .22 rifle. They plan to find a “squeaky clean” Montanan who wants to send a note to the ATF threatening to build and sell about 20 such rifles without federal dealership licensing.

If the ATF tells them it’s illegal, they will sue and take the case all the way to the U.S. Supreme Court, if they can.

Similar measures have also been introduced in Texas and Alaska.

“I think states have got to stand up or else most of their rights are going to be buffaloed by the administration and by Congress,” said Texas state Rep. Leo Berman.

Critics say exempting guns from federal laws anywhere would undermine efforts to stem gun violence everywhere.

Hot Air has the text of the law, titled:

AN ACT EXEMPTING FROM FEDERAL REGULATION UNDER THE COMMERCE CLAUSE OF THE CONSTITUTION OF THE UNITED STATES A FIREARM, A FIREARM ACCESSORY, OR AMMUNITION MANUFACTURED AND RETAINED IN MONTANA; AND PROVIDING AN APPLICABILITY DATE. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:

This is defiance as a thing of art:

defiance_mouse_eagle

It is a determination to keep fighting for one’s freedom no matter how hopeless things might look:

defiance_frog_stork2

And why is this level of defiance necessary? An image worth a thousand curses suffices by way of explanation:

obama_yes-we-can_1st-amendment

Don’t think this isn’t a direct response to Barack Hussein.

Gun and ammunition sales have soared out of naked fear of Obama.

And for good reason: Obama is pushing a treaty to ban reloading. Liberals are trying to regulate the components of ammunition as explosives and thus restrict ammunition. Liberals in California are nakedly attempting to circumvent the 2nd Amendment by regulating ammunition, hence making guns useless.

And the liberal campaign to deprive Americans of their 2nd Amendment guarantees (even as they discover “penumbras and emanations” in the Constitution that let them kill babies) is only a distant side issue in the massive government takeover of American society. Obama’s massive spending – more than every president from George Washington to George W. Bush COMBINED – will leave this country with an insurmountable national debt that would exceed 82 percent of the overall economy by 2019 and threaten this country’s very survival. We are now on the hook for $12.8 TRILLION dollars in government spending and commitments in the brave new world of the Obama economy.

We’ve got a president who is firing CEOs, stacking boards of directors, changing the rules for the auto manufacturers’ bankruptcy filings in order to favor the unions that supported him over the secured creditors. And if they don’t like it, they are met with frightening threats from the administration and death threats from union members. If that isn’t bad enough, we’ve also got card check on the horizon, which would allow union thugs to intimidate workers into unionizing with the union allowed to know exactly how each worker voted.

We’ve got a president who won’t let banks repay bailout loans (which in many cases were literally forced on them in the first place) so he can continue to impose onerous terms and conditions on them and control what they do and how they do it.

We’ve got a president who is planning to nationalize health care – and the one-sixth of our economy that it represents – even as he moves to impose costly and burdensome cap-and-trade regulations that would (in Obama’s own words) necessarily cause energy prices to soar.

And we’ve got a president who is attempting to nationalize student loans such that private lenders are phased out altogether. If Obama gets his way, the government will loan directly to families and students, making them directly indebted to the federal government. The government will necessarily get to decide which students, which schools, and which academic programs get loans.  An option for students is to repay their loans by means of “national service,” which already precludes any type of religious service whatsoever. The potential of liberal big government harnessing student labor to staff liberal organizations such as ACORN is becoming all-too real.

We have a new administration that moved to criminalize political differences by targeting Bush officials as war criminals, even as returning veterans and pro-life Americans are labeled as “rightwing extremists” in a DHS report sent out to the nation’s law enforcement agencies and police departments.

not-fascism-when-we-do-it3

I’ve been saying something over and over in different ways. What the liberals are doing now will ultimately result in a “rightwing” backlash. What is true in physics is true in politics: for every action there is an equal and opposite reaction. Liberals are pushing and pushing and pushing through one new massive spending program and one new policy after another that will change and undermine this country forever afterward.

Under Obama, terrorism is now called an “overseas contingency operation” and terror attacks are now nothing more than “man-caused disasters.”  In attacking the CIA as a means to attack Bush, Obama has created a depressed, sullen, and angry morale which promises to transfer into “cover your ass” caution and bureaucratic gamesmanship.  He has undermined our security to a shocking degree.  If we are attacked, this country will swing so far to the right so fast it will be absolutely unreal.

But even if we are not attacked, our country will likely implode under its own weight: trillions of dollars of reckless spending will have that effect as our dollar devalues and our interest payments on the debt begin to soar when inflation begins to take its toll.  Ultimately our taxes will skyrocket due to all of this spending.  CBS News has an article from March entitled, “If China Stops Lending Us Money, Look Out.”  Well, guess what?  They’re doing exactly that.  They’re canceling our credit card.

In a poll of chief executive officers taken prior to the election, 74 percent of the executives said they feared “that an Obama presidency would be disastrous for the country.”  And some of the CEOs predicted that “some of his programs would bankrupt the country within three years, if implemented.”  And with the Congress in nearly total Democratic control, they ARE being implemented.

When Obama and the Democrats bankrupt the country and undermine our entire social structure with massive spending programs and massive bureaucracies that cannot be undone, which direction will the country turn?  And how complete will that turnaround be?

Liberals are ignoring one ominous warning of popular outrage after another, claiming that conservatism and the Republican Party are dead.  And they will likely ignore what is going on in Montana – which is led by a Democrat governor – as well.  They are doing so to both their party’s and their country’s peril.

Montana, you’ve done a great thing for liberty, which is freedom from the growing tyranny of the smiley-face-fascist nanny state.

The backlash against big government liberal tyranny is beginning.  And it will become larger and hotter as Obama’s policies take their toll.  Let us hope that the spark turns into a fire before – rather than after – Obama has done too much damage to recover from.

Pre/Post-Election Poll Craziness: Media Rewriting Its Propaganda

November 20, 2008

Okay.  Six weeks and one Presidential election apart.  Two articles reporting on two polls from the same source (CNNMoney): one titled “Poll: 60% say depression ‘likely’” and one titled “76% say Obama can fix economy – poll.”

Am I the only one who sees a contradiction?

Let’s backtrack a little bit.  Since election day, the Dow has lost 21% of its value, from 9625 on November 4 to today’s close of 7552.  It was 9525 on October 6, the day that 60% of Americans believed that a depression was “likely.”

The CNNMoney story from October 6 begins:

NEW YORK (CNNMoney.com) — Nearly six out of ten Americans believe another economic depression is likely, according to a poll released Monday.

And it ends:

And [Economic Cycle Research Institute director of research Anirvan] Banerji said that the increasingly grim view of the economy will by itself lead to cutbacks in spending by both consumers and businesses. That in turn will result in greater job losses and more economic pain.

“The fact that the majority of people believe we are going into a depression ensures that the recession will get worse,” Banerji said.

The market has lost over one-fifth of its value since Barack Obama was elected President.  That is a rather stunning display of a complete lack of confidence in his leadership and in his policies.  Such an abandonment from the market following a presidential election is historically unprecedented.  And we are supposed to believe that now 76% of Americans believe Obama can “fix” the economy?

Because Obama has done what, exactly?

First of all, I have to ask: is it THESE people who believe Obama can fix the economy?  Is it the nearly 60% of Obama voters who – on crucial issues such as which party has been in charge of the Congress for the last two years – are dumber than monkeys, but get to vote anyway?

It sure isn’t THESE people, investors or chief executive officers, the people who actually invest and who actually run things.  You poll the CEOs, and you find out that “74 percent of the executives say they fear that an Obama presidency would be disastrous for the country.”  You find out that CEO’s believe that “some of his programs would bankrupt the country within three years, if implemented.”

Barack Obama is being portrayed by the media as the new FDR, superintending the “new new deal.”  That should frankly terrify you, if you had a clue.

Let me tell you what’s going on here: exactly what I and others have been saying would happen.  The same media that has been demonizing the economy as a narrative device to attack Republicans will begin to assure everyone that things will be okay now that Barack Obama is in charge.  Most Obama voters didn’t know that Democrats have actually been in charge of both the House and the Senate for the past two years because the media didn’t want them to know that.  Widespread awareness of such a fact would have undermined the media narrative that Republicans were responsible for the tanking economy.  Better to run one story after another trashing Sarah Palin.

John McCain was portrayed as some kind of older-than-retarded out-of-touch fool for claiming that the fundamentals of the economy were strong when they were at a time when they were ACTUALLY FAR STRONGER THAN THEY ARE NOW (you know, before Obama got elected and the market lost over a fifth of its value).  But you will begin to see “here comes the sun” articles building up the economy now that the election is over and Democrats came out on top.

The media has been so blatantly biased throughout its election coverage that it is completely accurate to say that we are now in a propaganda state.  There is no possible way that Republicans can win in this media climate: whether you look at the Media Research Center, or at the Project for Excellence in Journalism (or again at their brand new study), or at the University of Wisconsin’s Wisconsin Advertising Project, there is widespread agreement with one longtime ABC journalist that the media is dangerously biased.  Pew Research discovered that Americans believe by a 70% to 9% margin that the media is biased in favor of Obama and against McCain.  The media now represents a fifth column of government – a propaganda wing – that attacks conservatives and celebrates and defends Democrats and their ideology.  Democracy is going extinct in the country that founded democracy, because no free society can survive such a climate of propaganda.

Are the two polls from CNN contradictory?  Of course they are.  But they are the product of two agendas: agenda #1 was to undermine confidence in the economy in order to get Obama and Democrats elected; agenda #2 is to reinforce confidence in the economy in order to help them be successful.

The problem is that the people who actually invest and who actually run businesses aren’t as stupid and naive as the brainwashed public that voted for Obama and a Democrat super-majority.  That’s why the smart money is bailing our of the economy like rats off a sinking ship so that they can actually keep what little profit they have before the Democrats can begin to start “spreading the wealth around.”

Obama’s “New New Deal” Will Redistribute Wealth Of Shrinking Economy

November 14, 2008

The last couple weeks may well be a harbinger of things to come, as the people Obama promised to tax heavily continue to pull out of the market.  On November 4, the Dow closed at 9,625; today, it was at 8,497.  That means that the market has lost nearly 12% of its value since Obama became President-elect.  Hardly a measure of confidence.

The market spoke rather clearly on November 5:

NEW YORK, Nov 5 (Reuters) - Wall Street hardly delivered a
rousing welcome to President-elect Barack Obama on Wednesday,
dropping by the largest margin on record for a day following a U.S.
presidential contest.
 The slide more than wiped out the previous day's advance, the
largest Election Day rally ever for U.S. stocks.

Now, this wasn’t at all unexpected.  On October 24, I wrote an article titled, “Investors Ready For Dramatic Sell-Off If Democrats Win.”  A few days before that, I wrote an article pointing out that “Actual Job Creators Favor McCain 4-1 Over Obama,” which – among other things – points out that “74 percent of the executives say they fear that an Obama presidency would be disastrous for the country.”

The people who invest, and create job opportunities, and build the economy, don’t want to have their wealth redistributed.  Would you want your wealth redistributed?

Democratic apologists point out that Obama promises on a meager jump in the top federal tax rates from 36% to 39%.  But that “insignificant” 3% comes right out of peoples’ profits.  It sounds a lot worse when the reality is understood: when businesses that had been making an 11% profit are now reduced to an 8% profit.  Or an 8% profit reduced to a 5% profit.  And Obama promises to increase capital gains taxes and several other taxes that will impact upon businesses and the investment climate that supports business.  How hard are job creators willing to work to experience a diminishing return on their time, labor, and risk?

Time Magazine – a publication that has gushed over Obama for months – has a new gushing cover:

It should frighten you.  FDR was no “moderate.”  He presided over a terrible time for the country, and – while he was a popular figure because of what he tried to do – his actual economic administration has been widely recognized by economists to have been a failure.  Studies have demonstrated that the average depression lasted only four years; but for some reason the Great Depression dragged on and on and on under FDR’s governance.  By 1938, after more than four years of FDR, the effects of the Depression were actually much worse than they had been when he first took office.

As an example of the new realizations regarding the 1930s, UCLA economists argue:

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

Even the common man’s sense has largely been that World War II had more to do with getting us out of the Depression than FDR’s New Deal.  It certainly did get men who had been standing in bread lines put to “work.”  And as the nation coalesced together and began to pour resources into building weapons, factories that had been idled came back on line, and innovation increased to match the technological development of our enemies.  And certainly, the fact that, when hostilities ended, the United States alone was not reduced to rubble had a great deal to do with helping our economy surge forward.

But by that thinking, anyone who criticized President Bush’s wars in Afghanistan and Iraq is correct only insofar as we need an even BIGGER war.  For Obama to truly be like FDR, we need to have a devastating Depression that drags on for 12 years while incompetent liberals continue to tinker, and then we need slug it out in World War III against Russia and China.

So pardon me for looking at the “New New Deal” FDR-lookalike Barack Obama and shuddering down to the marrow of my bones.

We’re watching the market beginning to go down the slide.  It’s going to go down a lot more.  And fear over Barack Obama’s policies is going to have a lot to do with the lack of confidence that keeps investment from pouring back into the economy.

The picture is far more frightening than the story the media is telling: there are more than $700 trillion in derivatives in the global economy.  That’s far more than the total currencies of all the governments in the entire world.  As one writer puts it, “In other words, every dollar of insurance on bonds issued by some deadbeat governments and corporations is leveraged 200 times!”  We’ve got a time bomb waiting to explode.  And we put a lot of the people who created that time bomb in the first place in charge of fixing the mess they themselves created.  People like Obama’s National Finance Chair, Penny Pritzker, who was at the epicenter of the subprime loan scandal and once paid $460 million to stay out of jail.  People like Jim Johnson, Franklin Raines, and Jamie Gorelick, who pocketed over $300 million from Fannie and Freddie while juggling the books so they could get their bonuses.  People like Barney Frank, who claimed that nothing was wrong with Fannie and Freddie and the housing market they supervised, and repeatedly fought off President Bush’s efforts to regulate them at time when the crisis we are currently experiencing could have been averted.  People like Charles Schumer, who exemplified the sheer hypocrisy of the Democratic Party with his blaming others for what he himself did.  People like Joe Biden, whom two major studies said shared direct blame for the foreclosure disaster because of legislation he championed as the Senator from banking-capital Delaware.  And people like Barack Obama, who embraced more contributions from Fannie and Freddie – and from scandal-plagued finance institutions such as Lehman Brothers than anyone during his short time in the Senate.  Now all these people have been entrusted with fixing a mess of literally global proportions; a mess that they in large part created in the first place.

And Barack Obama wearing the “New New Deal” mantle of FDR’s Panama hat, glasses, and fancy cigarette is not going to make that time bomb go away.  In fact, it may be the very thing that brings the whole house of cards come crashing down.

Obama Says He’ll Bankrupt Coal Plants, Wipe Out Half Our Electricity

November 3, 2008

I hope they find out about this in the following states before they make the biggest mistake of their lives: Montana, Illinois, Wyoming, West Virginia, Kentucky, Pennsylvania, Ohio, Colorado, Texas, Indiana.  Those are the ten states that collectively produce about 90% of our coal.  They should really know that Obama wants to drive a key national industry into decline and then extinction:

“So, if somebody wants to build a coal plant, they can — it’s just that it will bankrupt them, because they are going to be charged a huge sum for all that greenhouse gas that’s being emitted.”

Here’s the video link and here’s the transcript of the entire remark:

Let me sort of describe my overall policy.

What I’ve said is that we would put a cap and trade system in place that is as aggressive, if not more aggressive, than anybody else’s out there.

I was the first to call for a 100% auction on the cap and trade system, which means that every unit of carbon or greenhouse gases emitted would be charged to the polluter. That will create a market in which whatever technologies are out there that are being presented, whatever power plants that are being built, that they would have to meet the rigors of that market and the ratcheted down caps that are being placed, imposed every year.

So if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.

That will also generate billions of dollars that we can invest in solar, wind, biodiesel and other alternative energy approaches.

The only thing I’ve said with respect to coal, I haven’t been some coal booster. What I have said is that for us to take coal off the table as a ideological matter as opposed to saying if technology allows us to use coal in a clean way, we should pursue it.

So if somebody wants to build a coal-powered plant, they can.

It’s just that it will bankrupt them.

You need to understand something: the United States is the Saudi Arabia of coal.  This fossil fuel is an incredibly powerful resource for our energy independence.  Why on earth would we abandon it?

U.S. coal reserves contain 12 times as much energy as all the oil in Saudi Arabia! A brief look at some numbers explains why coal is the country’s most abundant and important energy resource.

According to the United States Geological Survey, we have 1.7 trillion tons of identified coal resources — coal for which geological evidence and engineering studies provide reliable information about location, rank, quality, and quantity. (Geologists recognize that more coal deposits are likely to be discovered in the future, so they estimate total coal resources could amount to 4 trillion tons.)

Ed Morissey has this to say:

Yesterday, we looked at Obama’s notions of government sending “price signals” to change behavior that it finds objectionable, especially on energy.  This is the way Obama intends to do it.  Coal provides 49% of domestic electrical power, and any rise in the cost of producing that energy will raise its cost to consumers and reduce the amount produced.

This comes as no great shock, pun intended.  Obama already called for a 15% reduction in demand for electricity — at the same time he and his allies want transportation to switch from gasoline to electricity.  Obama never explained this particular contradiction.  How does one switch tens of millions of vehicles from gasoline to electricity while not Increasing demand, let alone by cutting it 15%?  And when trying to break free from a recession, the nation will need greater production in energy, not a reduction.

As Wikipedia points out:

Coal fired power plants provide 49% of consumed electricity in the United States.

Obama frankly admitted that electricity rates would necessarily skyrocket under his plan (audio here):

The problem is not technical, uh, and the problem is not mastery of the legislative intricacies of Washington. The problem is, uh, can you get the American people to say, “This is really important,” and force their representatives to do the right thing? That requires mobilizing a citizenry. That requires them understanding what is at stake. Uh, and climate change is a great example.You know, when I was asked earlier about the issue of coal, uh, you know — Under my plan of a cap and trade system, electricity rates would necessarily skyrocket. Even regardless of what I say about whether coal is good or bad. Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.

It is frankly amazing that this is just dribbling out now, when it should have been known for months.  The media has refused to investigate Obama, and there are far too many frightening things we just don’t know even on the eve of the election.  Barack Obama has a dangerous policy that is based far more on naked ideology than on commonsense economics.

Global warming is largely an ideology masquerading as legitimate science.  As though God himself were calling global warming alarmist “idiots,” the first October snowfall since 1922 blanketed London as it hosted a global warming debate.  This kind of massive contradiction goes on all the time, but global warming ideologues ignore the facts and focus only on their theory and the political and economic redistributionism they hope to force upon the world.

The science is actually amazingly clear on global warming; it is primarily a cyclical climatic phenomenon that occurs about every 1,500 years.  But there is a systematic effort on the part of scientists and journalists to stifle the evidence, intimidate those who try to reveal the truth, and, and engage in scientific fraud in order to perpetuate a profoundly flawed theory.

Bankrupting vital job-intensive industries that provide enormous energy resources is hardly a reasonable approach.  Sending electricity rates skyrocketing is hardly a reasonable approach.  But that is what Barack Obama has clearly said he intends to do to groups that WANT those things to happen because they care more about greenhouse gasses than human lives.  Barack Obama delivered this remark to the same sort of San Fransisco elites to whom he delivered his (in)famous line:

“And it’s not surprising then they get bitter, they cling to guns or religion or antipathy to people who aren’t like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations.”

And the same sort of San Fransisco pseudo-intellectual and ideological elites who nodded over the one discourse nodded over the other.

You can’t trust Barack Obama; he is dangerous.  “Over 70% of CEOs fear an Obama presidency will be a disaster.”  Wall Street is terrified of an Obama presidency.  And you should fear an Obama presidency, too.  You should be terrfied of an Obama presidency, also.

If Obama Wins, Should Republicans Hope Democrats Win HUGE?

November 2, 2008

The polls are all over the place in the Presidential race.  I’ve had Democrats pointing to polls that have Obama up by as much as 14 points.  This morning I assumed I must have slept through Wednesday, because the crowd at ABC’s “This Week” were all talking about the election as though McCain had lost in a Iandslide.  Questions were phrased in terms of, “Is there anything that McCain could have done?”  “What did McCain do wrong that cost him this election?”  Personally, I still believe that McCain will eek out a victory, as voters who have no real inclination to support McCain will realize that they have very good reason to reject Obama.  I just can’t imagine that the country would decide to make the most inexperienced, most liberal, and most radical candidate in U.S. history our next President given our fragile state.

But I’ve got to face reality.  Maybe all those talking heads on “This Week” are right.  I frankly don’t know which polls are “most accurate” (if any), or who will surge or who will fade (although it seems to me – given their Iraq positions – that it be only fitting that McCain “surge” and Obama’s “victory” turn into a “cut and run” on him).  But regardless of what I hope will happen, or even what I think will happen, there’s always what might happen: Obama is clearly favored to win this election, and Democrats are clearly favored to win massive control of the House and the Senate under Nancy Pelosi and Harry Reid.

The question is, if Obama does win, what should Republicans hope for about the Congressional elections?  What should we hope for during the course of the next two years?  During an Obama Presidency?  Should we want Republicans to do well enough to filibuster?  Or should we want to see Democrats do so well they destroy the country and destroy their own political futures in the process?  Should Republicans hope the economy recovers and hums along under Democratic leadership, or should we literally hope the economy tanks under the Democrats’ control?

You’ve got plenty of your ordinary, traditional conservatives out there.  They want what’s best for the country because they’ve always put country over party.  They want to see the economy pick up, they want to see the United States maintain and even expand its power and influence.  They want to see the country continue to remain great, because that’s what they’ve always wanted.

It’s what I always wanted.  At least up to now.  I was so proud to enlist in the United States Army with Ronald Reagan as my Commander-in-Chief.  I was proud to wear two Armed Forces Expeditionary Medals and the Combat Infantryman Badge on my chest.  And I continued to remain proud of my country after I left the Army.  During the Clinton years, I told more than a few bitter Republicans, “Whether you voted for him or not, he’s STILL your President!”  I didn’t vote for President Clinton, and was disappointed by his victory; but I was an American, and he was my President because my country voted for him.  I prayed for his wisdom and leadership.  Too bad so many Democrats never brought any similar bipartisanship with them.  They worked to undermine President Bush in every way they could.

But something happened to me.  Maybe I began to stop being proud of my country when Michelle Obama finally STARTED being proud of hers.  Maybe it was when I discovered that Barack Obama’s pastor and spiritual adviser for 23 years years said, “No, no, no!  Not God bless America.  God damn America!”  He called America “the US of KKK A.”  And Democrats didn’t care about this outrage.  Maybe it was when I found out that Barack Obama had partnered with a man who had bombed the Pentagon, the Capital, and New York Police headquarters, who said on 9/11/2001 that he not only didn’t regret setting bombs, he felt he didn’t bomb enough.  Finding out that Obama’s rat bastard pal dedicated a book to Robert Kennedy murderer Sirhan Sirhan sure didn’t help.  I suppose that I feel that if a man like this could actually be elected President of the United States, that there must be something profoundly wrong with the country and with the people who live in it.

I just cannot bring myself to support God Damn America.  Or even wish it well.  We have become so amoral that we easily support the death-by-mutilation of 50,000,000 babies.  In fact, we have become so immoral that we are prepared to make a man who voted to let babies who have been born alive be killed.  I find myself hoping that the economy goes down the tubes under the Democrats’ control, because that appears to be the only way that people will support traditional values or the party that seeks to uphold them.

If Barack Obama is elected President, I will quote the man he called his pastor and spiritual mentor for 23 years: GOD DAMN AMERICA!  THE U.S. OF KKK A!!!  And I will say my prayers accordingly: where I used to say, God, please don’t give us the judgment we deserve, I will say, “Lord, we voted for God damn America; go ahead and give it to us!”

I finally understand all the Democrats’ who expressed such vitriolic hatred of George Bush and the America that voted for him.  I love the America that the founding fathers envisioned; these Democrats repudiate that historic vision for America – and with their messiah – view our Constitution as having had an “enormous blind spot” which “reflected the fundamental flaw of this country.”  They think the Constitution and the country were deeply flawed; I think the flaw has always laid with the people who kept corrupting our system of government by imposing their will in place of our Constitution because they thought they knew better.

I loved the America of which Kennedy said, “Ask… what you can do for your country”; Today’s Democrats say, “Ask what your country can do for you.”  Or, to put it in Obama-Wright terms, Democrats hated the God bless America that we once were; I hate the God damn America that they promise to usher in.

I wonder how many conservatives will criticize me for my new feelings about Obama’s “new America.”  One thing is for certain: No one who votes for Barack Obama can criticize me; you can’t vote for ‘God damn America’ and then criticize me for saying the same thing.  I’ll bring up the last guy you Democrats nominated, and how John Kerry accused his fellow servicemen as a bunch of genocidal war criminalsbefore taking it back – and how he threw away his medals.  I won’t throw away my medals; they remind me of a country I loved, and was once so proud to serve and even shed my blood to defend.  I’ll bring up how Democrat after Democrat after Democrat justified the Iraq War until they cynically and cravenly repudiated that support for sheer political expedience.  Even though nearly 60% of Democratic Senators had voted for that war.  Even though the measure passed by wider margins in both branches of Congress than the 1991 war resolution.  I’ll bring up Rep. Jack Murtha, who accused innocent Marines of murderous war crimes before he accused his own Pennsylvanian voters of being racists.   I’ll bring up Sen. Dick Durbin, who compared U.S. servicemen to Nazis.  I’ll bring up Senate Majority Leader Harry Reid, who was so quick to proclaim defeat for American soldiers while they were fighting on the battlefield.  I’ll bring up Democratic Whip James Clyburn, who said that success in Iraq “would be a real big problem for us, no question about that.”  I’ll bring up every single sermon that Barack Obama’s pastor for 23 years preached, right down to the last hateful word.  Right down to calling the United States “the US of KKK A.”  Hell, I could start bombing buildings like Barack Obama’s terrorist pal William Ayers and Democrats couldn’t accuse me of squat without being even bigger even hypocrites than they already are.

But I do wonder how conservatives – whose opinions I actually DO give a rip about – feel about my anger and bitterness over the prospect that half the country (or more, or less, as we’ll find out November 4) would elect such an un-American – or at least such a ‘God Damn America’ American – for President.  I feel like Dietrich Bonhoeffer must have felt as he watched his beloved Germany fervently embracing Nazism.  The German people in the 1920s wanted “change”, too: and Adolf Hitler gave them change in spades.

Right or wrong, this is how I feel: I actually hope that if Obama wins, Republicans lose HUGE.  You know how, when you realize that your professional sports team won’t make it to the playoffs, you come to start hoping they lose so many games that they’ll receive a high draft pick?  I’m kind of there in my politics, given an Obama win.  The fewer Republicans there are to blame for the disaster that is going to overtake this country, the better.  The whole charade that has led to such anti-Republicanism has been due to the demonization by Democrats and by the overwhelmingly biased liberal media.  Let Republicans be so utterly rejected that liberals have no one – and I mean absolutely no one – to blame but themselves so that their ideas and their candidates can be vilified for the next fifty years or so.

The media has been so blatantly biased that we are now in a propaganda state.  There is no possible way that Republicans can win in this media climate: whether you look at the Media Research Center, or at the Project for Excellence in Journalism (or again at their brand new study), or at the University of Wisconsin’s Wisconsin Advertising Project, there is widespread agreement with one longtime ABC journalist that the media is dangerously biased.  Pew Research discovered that Americans believe by a 70% to 9% margin that the media is biased in favor of Obama and against McCain.  The media now represents a fifth column of government – a propaganda wing – that attacks conservatives and celebrates and defends Democrats.  Democracy is going extinct in the country that founded it, because no free society can survive a climate of propaganda.

The only way that America can turn around given the propaganda-dominated culture is if the media is utterly discredited, and Democrats lead the nation into calamity and despair.  It can happen in two ways:

The US economy – and in fact the world economy – are facing a crisis.  And while leftist media propaganda may be assuring you that Obama will be better for the economy, our investors and our business leaders most assuredly do not agree at all.  “Over 70% of CEOs fear an Obama presidency will be a disaster.”  And the financial market – which is already selling off in expectation of an Obama win – would face a “dramatic sell-off on Wall Street” if Democrats make the huge gains they are anticipated to win.  Wall Street is terrified of an Obama presidency.  Obama’s radicalism and socialistic redistribution policies, his doomed-to-fail massive health care plan, his steadfast refusal to exploit our domestic oil resources in favor of “alternative energy” sources that can’t possibly meet our energy needs, and the fact that his every move will be backed by tax-and-spend liberals hungry for power and a propagandist media – serving as apologists – will all come together to doom our economy.

Obama has promised $4.3 TRILLION in new spending, even as his tax redistribution plan is guaranteed to shrink the tax base as the wealthy shelter their assets.  Where are we going to get all that money?  Democrats believe their messiah can turn water into money.  But the people will ultimately come to see that they are wrong.  And no amount of media propaganda will ultimately be able to hide that reality.

I wonder what will happen when Americans discover that Democrats want to socialize their 401Ks?

The second way that America will recognize that they’ve been lied to by both Democrats and their media propaganda is if we are attacked again.

Personally, if Obama is elected to the White House, I would like to see conservatives leaving military service the way rats might leave a sinking ship.  Let them determine that they will not fight for God Damn America and leave the military in droves.  Let Democrats do all the fighting and suffering sacrificing and dying (or at least all the cutting and running that they prefer to fighting) for the next few years.  When 70% of the military is composed of McCain-supporting conservatives, something needs to change under a Commander-in-Chief Barack Hussein Obama.  Joe Biden – the foreign policy “expert” on the ticket – flat-out guaranteed that Obama would be tested with an international crisis in the first six months of his Presidency.  Let the people who voted for him do all the dying for him, too.  That only seems fair.  I earlier suggested that we have a “Gay All The Way!” military.

The country that so totally rejects conservatives certainly doesn’t need their help.  At this point – with the voters demanding complete Democratic domination – building up country amounts to tearing down the conservative vision for the country.

We have totally turned Iraq around in the last couple years, but that is only because President Bush and his commanders in the filed refused to listen while the Democratic Senate Majority Leader proclaimed defeat, while Barack Obama vigorously opposed the surge that allowed us to finally gain the upper hand in the first place, with Democrats claiming that President Bush lied about Iraq from the outset, and with too many Democrats loudly and publicly calling our soldiers war criminals and Nazis.  Let’s see how President Obama fares against Iran.  Let’s see what happens when – as I believe – Israel attacks Iran to try to destroy its nuclear program because they don’t believe that the United States under President Obama will do anything.

When a weak, passive, appeasing Barack Obama allows Iran to develop nuclear weapons (because only the assurance of a massive attack will stop them at this point), they will be coming after the Great Satan both directly and indirectly through terrorist proxies – and be able to threaten a few mushroom clouds should the Great Satan directly threaten them in return.  That won’t look so good to the electorate, who will suddenly fondly remember that the Bush Presidency had actually managed to protect them from terrorist attacks.  But I will be loudly quoting Jeremiah Wright and how “America’s chickens are coming home to roost.”

We are one major terrorist attack – just ONE – away from an America that overwhelmingly realizes that Barack Hissein Obama is UNFIT to lead this country.  Don’t think for one nanosecond that the same fickle electorate that rejected Bush won’t reject Obama.  One attack, and they will remember all the many ways that Democrats left this country vulnerable to terrorism.

I believe that if the country wants to hop aboard a freight train that’s going to steam full speed off a cliff, then Republicans – if they’re smart – ought to get as much out of the way as they possibly can and be ready to pick up the pieces after the dust settles.  Vote against everything so its on the official record, but let the Democrats hang themselves.  If Republicans finally decide to be as cynical as Democrats have been for  years, they might even consider doing everything possible behind the scenes to sow havoc and discord both in domestic and international policy, so they can then turn around and blame the Democrats’ “failed policies” just like the Democrats did to them.  You can hardly blame them, once you get past that whole “But that would be un-American!” thing.  After all, that hardly stopped Democrats, and they’ve benefited mightily from doing it.  I mean, you’ve got Democrats agreeing with Republicans on the need to remove Saddam Hussein, only to despicably turn on them the moment it was to their advantage to do so.  You’ve got Charles Rangel comparing the US action in Iraq to the Holocaust; you’ve got Dick Durbin comparing American troops to Nazis;  you’ve got Barack Obama suggesting that our troops have to do more than just air raiding villages and killing civilivans.  You’ve got Democrats accusing innocent Marines of being murdering war criminals; you’ve got Democrats declaring defeat in Iraq while our troops were fighting in the field; you’ve got Democrats acknowledging that good news in Iraq was bad news for Democrats; you’ve got Democrats opposing the surge strategy that brought us to victory; you’ve got Democrats falling all over themselves to support the reasons for going to war against Iraq before they fell all over themselves to attack Republicans for going to war against Iraq.  If the American people approve of and vote for that kind of conduct, why shouldn’t Republicans look at the polls and follow suit?

Yes, in the short run, the Democrats would pass the fascist “Fairness Doctrine” to muzzle all opposition speech and run so completely wild on social godlessness that they will make decent peoples’ skin crawl.  But when they poison the nation against themselves do to their own rabid excesses – or if there is another major terrorist attack given the likely Democrat’s repeal of the Patriot Act, domestic surveillance of terrorists, the abandonment of Gitmo and its detention of our terrorist enemies, and their overall perception by terrorists as weakling cowardly retreating appeasers ripe for attack – there will be a conservative victory in two years that will be like nothing ever seen.  The only way Democrats can be seen as the incompetent fools they truly are is if they are actually allowed to run everything and they have no one to blame for the disaster but themselves.

Until then, I’m just going to spend the next four years reciting Democratic talking points: our country is evil; our President is evil; our soldiers are evil.  God damn America, also known as the U.S. of KKK A.  We’re immoral for doing every damn thing we do; Obama lied, people died.  That sort of thing.

Politico: Investors Ready For Dramatic Sell-Off If Democrats Win

October 24, 2008

Yesterday’s Politico story puts it this way:

Generally, financial analysts say the stock market likes Republicans more than Democrats. And while predicting market movements is as difficult as predicting the winner of the World Series in August, some experts say the market is already anticipating an Obama win on Nov. 4 and has at least partially accounted for it.

“Potentially, you could see a one or two-day rally on a McCain victory, and not much of a reaction if Obama wins, because that’s what’s expected at this point,” said Justin Fishkin, a partner at The Cypress Group, a financial services company in Washington, D.C. Fishkin, who earlier in his career was a hedge fund manager specializing in political, regulatory, and legislative event-driven investments, said the key issue on Wall Street minds is corporate taxation — which is why the market might prefer McCain and his promised rate cuts over Obama.

In other words, a significant part of the massive sell-offs we’ve already seen were inspired by the belief that Obama would win the White House and start screwing up the economy with socialism.

This adds to the fact that CEOs overwhelmingly (74%) fear that “an Obama presidency would be disasterous for the country,” that Obama would “have a negative impact on business and the economy,” and that “some of his programs would bankrupt the country within three years, if implemented.”  Oh, well, what do Chief Executive Officers know about business or the economy, anyway?

Politico isn’t the only major news source reporting on the fear of an Obma presidency by the people who understand money and finance.  MSN has an article titled, “Why Wall Street Fears Obama“:

Investors this summer have been placing their bets on an Obama presidency, and for the most part that hasn’t been good for the market.

Without giving him a chance to explain himself in detail on the campaign trail or at the Democratic National Convention, they are voting with their shares by tossing financial, health insurance, manufacturing and high-dividend stocks into the ash can, and are growing skeptical about energy companies as well.

It’s not that major institutional investors don’t like the man — far from it. He has many backers among the financial elite, including multibillionaires George Soros and Ron Burkle. And it’s not that there aren’t many other reasons for investors to sell stocks now, as the global economy tangles with the terrible twin beasts of bank deleveraging and inflation.

It’s just that Obama’s rhetoric on taxes and health care is scaring common wealthy people with large capital gains from investments made over the past decade, and a lot of them don’t want to wait around to see whether it’s just populist fluff that might be set aside once he takes office.

The real question for investors after an Obama win is the extent to which Democrats assume control of the Congress, and the more there are the less they like it:

Joe Lieber, a political analyst at the consulting firm Washington Analysis who scrutinizes elections for his clients at hedge, mutual and pension funds, said an electoral lurch that gave the Democrats 60 seats could prompt a dramatic sell-off on Wall Street.

“We’re getting a lot more questions about the Senate than the presidential [race],” Lieber said, “because there’s almost nobody on Wall Street right now who believes McCain’s going to win.” A filibuster-proof Democratic majority (three-fifths of the chamber, or 60 senators) would not be well received by Wall Street traders, he added. “A lot of investment professionals don’t necessarily want to give one party the keys to the entire city. Free markets like gridlock.”

Ah yes, the thrill of one party domination, with the in-the-tank media determined to tell the Titanic that everything is fine no matter how fast the country plows toward the giant iceberg.

An interesting question is to what extent conservatives and Republicans believe we should try to forestall the disaster we think will occur under the Union of Soviet Socialist AmeriKKKa (because that’s how Barack’s Marxist/anarchist/terrorist pal and his preacher for 23 years spelled ‘America,’ after all) or just stand back and let the meltdown commence.

Actual Job Creators Favor McCain 4-1 Over Obama

October 20, 2008

It aint just Joe the Plumber; chief executive officers have a lot of problems with Barack Obama’s socialism, too.

Obama’s “spread the wealth around” answer to plumber Joe Wurzelbacher about the fact that his buying a plumbing business would put him into Obama’s $200,000 class warfare zone is the quintessential definition of socialism.  There literally could not be a better four-word definition.  It should infuriate Joe.

“Small businesses” which can employ as many as 500 people and gross millions of dollars, employ 84% of American workers.  And of those businesses that employ just ten or more workers, an overwhelming majority would fall under Obama’s federal income tax increase.  80% of the people who would their taxes increase significantly under Obama’s plan are small business owners.  Partnerships, sole proprietors, S corporations–80 percent of the tax returns are in those brackets that Obama considers rich.  Under Obama’s plan, a lot of ordinary workers will lose their jobs as employers struggle to retain profitability or even make payroll.

People are most concerned about jobs right now; maybe they should stop listening to mainstream media ideologues and start listening to the people who actually create jobs:

Chief Executive Magazine’s most recent polling of 751 CEOs shows that GOP presidential candidate John McCain is the preferred choice for CEOs. According to the poll, which is featured on the cover of Chief Executive’s most recent issue, by a four-to-one margin, CEOs support Senator John McCain over Senator Barack Obama. Moreover, 74 percent of the executives say they fear that an Obama presidency would be disastrous for the country.

“The stakes for this presidential election are higher than they’ve ever been in recent memory,” said Edward M. Kopko, CEO and Publisher of Chief Executive magazine. “We’ve been experiencing consecutive job losses for nine months now. There’s no doubt that reviving the job market will be a top priority for the incoming president. And job creating CEOs repeatedly tell us that McCain’s policies are far more conducive to a more positive employment environment than Obama’s.”

Disastrous for the country.”  That doesn’t sound good.  And that’s about as optimistic as the CEO’s get about Barack Obama:

“I’m not terribly excited about McCain being president, but I’m sure that Obama, if elected, will have a negative impact on business and the economy,” said one CEO voicing his lack of enthusiasm for either candidate, but particularly Obama.

In expressing their rejection of Senator Obama, some CEOs who responded to the survey went as far as to say that “some of his programs would bankrupt the country within three years, if implemented.” In fact, the poll highlights that Obama’s tax policies, which scored the lowest grade in the poll, are particularly unpopular among CEOs.

Bankrupt the country within three years.”  There.  You want socialism, you can have it.  “Spread the wealth around” so that country itself is as broke as the defaulting homeowners and the defaulting mortgage houses we keep hearing about.

One thing is extremely important to understand: Obama’s health care plan is modeled on the Massachusetts plan.  How are things going there?  Well, in the three years of the program’s existence, the tiny state is now already facing cost overruns of over $400 million.  Does that sound like a rousing success?  Massachusetts is facing a projected 85% increase in its costs by 2009 – which should set up a serious red flag that such programs are MASSIVELY underfunded.

Barack Obama’s health care plan is estimated to cost $1.6 trillion in 10 years.  But that doesn’t take into account the very sort of cost overruns and cost increases that are even now plaguing the very state that Obama is basing his own plan upon.  What is going to happen to our economy given the extremely real likelihood that Obama’s massive national plan runs into similar issues?  Do you believe our economy is strong enough to bear the brunt of these massive cost increases?

Did you like that $850 billion government bailout of the US economy?  No?  Then you probably won’t like Obama’s $845 billion bailout of the world, either.

Sen. Barack Obama, perhaps giving America a preview of priorities he would pursue if elected president, is rejoicing over the Senate committee passage of a plan that could end up costing taxpayers billions of dollars in an attempt to reduce poverty in other nations.

The bill, called the Global Poverty Act, is the type of legislation, “We can – and must – make … a priority,” said Obama, a co-sponsor.

Barack Obama also wants to push alternative energy whether the market wants it or not by dredging up yet another $150 billion from the great-great-great grandchildren of taxpayers while ignoring oil and nuclear power.  He claims he is not opposed to these – now.  But he consistently has been, along with Harry Reid and Nancy Pelosi, and his carefully-phrased distinctions guarantee we would see neither domestic oil or nuclear power during any administration of his.  The problem is, alternative energy will not be able to even begin to make a dent in our energy demand for decades to come.  Oil products constitute nearly 90% of our energy.  And Obama’s “safety regulations” would ensure that the only alternative energy source that even could conceivably lessen our need for oil, gas, and coal – nuclear power – would be unable to even get through the permit process during an Obama presidency.  Saying you “won’t take it off the table” is a far cry from supporting it, especially when you attack the candidate who supports it.

And Obama favors raising capital gains taxes, windfall profits taxes, death taxes, and significantly higher taxes for “the rich.”  At a time when we desperately need investment – which is why the government has been pumping in so many billions – Barack Obama wants to create a powerful negative disincentive to invest in the economy.  Everyone will ultimately pay more because of Obama’s tax plan as businesses pass their additional costs on to consumers through higher prices.  Worse, as Obama finds his income tax base shrivel up, the politician who supported tax increases on those making just $42,000 a year will levy higher taxes on larger groups of tax payers.  The percentage of tax payers in Obama’s “top 5%” have already shrunk by half due to the recent finacial meltdown.  In short, Obama’s tax plan will fail.

By the way, that overwhelming 4-1 preference for McCain over Obama on handling the economy is nearly matched by a better than 3-1 preference for professional soldiers for McCain over Obama on handling our wars and our defense.

Why We Need A Rottweiler For President

September 20, 2008

In these difficult times, with financial crises on the one hand, and international instability and terrorism on the other, do we want a toy poodle running our country?

Absolutely not.  We need a Rottweiler to lead us through the difficult times.

Do you seriously want this to be your commander-in-chief and chief executive?

Or would you rather trust this?

Give me the Rottweiler.  Give me his courage, his tenacity, his loyalty, his fierce protection of heart and home.  Will the financiers, the Wall Street big boys, and the money-grubbing CEOs play their games when they have to deal with him?  Not if they want to keep their body parts, they won’t.  Will the terrorists want to attack when he’s on duty?  I don’t think so!

Vote for the Rottweiler.  Let’s get them toy poodles out of our politics!

Updated September 26, 2009:

The situation may well be even be worse than I feared.

While our obvious ideal is clearly this:

P1000686a

I fear we may have this:

Woosey-dog

Cute?  Of course.  Presidential?  You decide.

Updated again, September 11, 2010:

Recently Barack Obama trotted out to a union-dominated audience in Milwaukee, Wisconsin, and whined, “They talk about me like a dog.”

All I can say, Mr. President, is that maybe you should stop yapping like one:

For my part, I don’t talk about you like a dog, Mr. President.  Because I like dogs.  I treat my dog like royalty.  And you’d have to evolve about 7 million percent for me to talk about you like a dog.