Diary

Obama and Markets

Today’s horrific indicators at the Dow Jones Industrial and S&P 500 clearly demonstrate that investors have no confidence in Obama’s stimulus package and Geithner’s bailout plan.  Deep down, most investors know that Obama is mortgaging America’s future on liberal pipedreams, and like those bad assets which sparked the economic downturn, this monstrosity will make things worse.  I actually disagree with those who predict that with or without the bailout package the economy will start to recover.  Obama will not stop at this bailout.  His decisions on domestic economic front and foreign policy venue will continue to keep investors off balance and paralyze the markets.

I have numerous centrist friends who voted for Obama basing their decision on Illinois Senator’s supposed moderation.  But Obama is no moderate.  Never has been.  The man is in his upper forties.  He has never held a position other than those subscribed by the far left.  A good and reliable measure of a person’s political philosophy is his past behavior, not soothing words.  A part of our society’s problem is that we refuse to take things at face value.  We attach greater importance to rhetoric rather than performance.  We value disposition over character.  When someone has spent 20 years at the church of Jeremiah Wright, that should be a clear warning sign.  When someone has surrounded himself with Communists throughout his youth and adult life, that should be a warning sign.   But then again, many of us don’t necessarily see a problem with Communism. 

The only reason as to why this stimulus package was not any more leftist, is because Obama could not find another Congressman to the left of Nancy Pelosi to draft this legislation.  Obama the President is doing exactly what Obama the Senator did in his brief but telling tenure in the Senate.  He took the position furthest to the left even within his own party.  Regardless of what he says, Obama the President will continue his far leftist policies as long as he is in office and he will try to inflict severe damages to the edifice of our republic.  Today’s was the first salvo.  And it has been barely 3 weeks.