Tuesday, March 3, 2009

The Obama Economic Team Tanks the Markets

Okay, it’s time for some truth telling. Much of the electorate was convinced that President O. would give the economy a boost. To be technical, he did, only it was a boost in the wrong direction.

Today Obama was on television speechifying about how he wouldn’t “take a short term view of the economy.” I think that’s kind of sad because you could learn a lot from a short-term view. You could learn, for instance, that the stock market has dropped like a rock in a short time and that the much vaunted “change you can believe in” slogan is now understood as “change we don’t need.” It’s okay for “Bubble Boy” Obama to hide from reality but what about the rest of us soon-to-be-geriatrics who lost money we could ill afford in our IRAs and Keogh style savings plans. He doesn’t care about us, for sure. Obama thinks we don’t know what it is to struggle, and that finally arriving in some modicum of a middle class, we are to be turned upside down and pick-pocketed. It’s rough—I’m starting over—joining the other oldsters who are scrabbling along sideways like crabs toward a Social Security program which Obama will cut in order to make his phantasmagorical numbers work.

It’s not just Obama—because let’s face it, Obama’s not an economist and has little grasp of financial issues. His comments on economic matters are halting, reticent, uncertain. Compare him to Turbo-Tax Timothy, the blue-eyed devil of a Treasury Secretary and Tax Cheat. Compare him to Bernanke who, though restrained, does have a clue. Or rather, is withholding a clue. The clue is that Obama’s numbers don’t work and will require tax increases beyond those already announced. The Obama team is projecting a growth rate of 3 % or more in 2009. That shouldn’t surprise anyone since just about everyone in Obama’s staff and cabinet is enjoying the benefits of the new liberalized medical marijuana policies.

Of course, marijuana will still be illegal to transport and sell so the cartels won’t feel as if they are being singled out for torture, abuse, or discrimination. But marijuana usage will expand since everyone will feel safe to smoke in public. The worst part of that is the hypocrisy. Why not legalize marijuana and smuggling, going all the way with the Obama relaxed drug policy? The way things stand, the Mexican police will continue to be challenged by the violent cartels. And so will we at the bordera and north of it.

Don’t worry, though. Obama’s little mustachioed Nazi Eric Holder is mounting an extensive gun control initiative. Word is spreading all along the border that a new sheriff is in town. The cartel is quaking in its boots. You know they are quaking in their boots because you can hear the laughter all the way to Canada.

Certainly, additional gun bans on law-abiding citizens with 2nd Amendment rights will mitigate the violence along the borders in Mexico and the U.S. Drug dealers and murderers always follow the rules. Believe you me, there will be a peaceful, easy, feeling in Harvard Yard.

It’s time to tell the truth. Obama supporters have no more confidence in their guy than the people who voted for John McCain. They’re not buying into today’s revamped economy with its housing-gambler bailout of people who used their homes as if they were debit cards. Are they? Are waves of investors who believe in the Obama economic hype dying to get into the markets at these rock-bottom prices?

Wait ‘til the kids find out that Obama’s mortgaged their futures, relegating them forever to a marginal standard of living, without jobs, without the economic padding the president has pulled from the nation’s coffers to achieve his flaky political motives and demagogic ambitions.

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