Diary

No Economic Confidence in Obama

Consider the following facts:

 

*The stock market peaked at an all-time high on October 9, 2007 reaching 14,164.53.

 

*The Dow Jones Industrial Average closed 13 months later at 9,625.28 on election day November 4, 2008 and then in the next 16 days sank almost 2,000 points to 7,552.29 by the close of business on November 20, 2008 which was called the “bear market low” at the time, the lowest point of the market since 2003. That drop is a show of no-confidence in the new president.

 

*On the day of Obama’s inauguration, January 20, 2009, the market fell 332.13 points, a record for an inauguration day.

 

*On February 10, 2009, after Obama Treasury secretary Timothy Geithner laid out his plans for the remainder of the so-called TARP bank bailout funds, the Dow plummeted 381.99 points, or 4.62 percent, to 7,888.88. That was the lowest close since Nov. 20, 2008.

 

*On February 17, 2009, the day Obama signed his economic stimulus plan in Denver, the market fell 297.81 points, or 3.79%, to 7552.60, just a tad above the November 20 low.

 

Had enough? And what does it mean?

 

Well, there’s good news and there’s bad news.

 

The bad news is that we are in for a long 4 years. The good news is that Mitt Romney will be elected president in 2012 as the new Ronald Reagan to fix the economy.

 

But what should we have expected? Obama is the most far-left president in US history, and we were warned about  his ideas over and over during the campaign. Notice that the stock market peaked in Autumn 2007 just as Obama was first being discussed as a factor in the presidential election. By the time he was seen as the likely winner in the Summer of 2008, the market was well on its way down. And the full-blown financial crisis hit in mid-September when it was unavoidably clear that Obama would be our next president.

 

There is no private-sector confidence in Obama. He is popular among people who will not help to grow our economy and who actually will hinder growth (the dependent poor, government bureaucrats, media, Follywood, college professors, feminists, old lady hypochondriac/socialists, environmentalists etc.)

 

The private capitalist system is rejecting Obama. But the leftists will say “Who cares about Wall Street anyway!” Wall Street, however, is millions of productive people in America’s investor class. They are people who care about growth rather than only about their own check like the dependent poor. And they are showing no confidence.

 

Obama obviously knows this. That is why he is ramming as much legislation through as possible.  Just one month into his presidency he knows that his only only option is to proceed full-steam ahead into socialism and pray that he can pay off enough people by 2012 to get re-elected. He will dish out hundreds of billions to the poor. He will make deals with the unions at the car companies. He will set up new programs that large numbers of people can access. He will try to put out enough government capital to keep people working and thinking that things are fixed. The media will cover for him.

 

But he will not be able to get re-elected. There already are rumblings of discontent. The taxpayers already are fed up with funding all this nonsense. And when they see that they are getting nothing in return for all that money they are paying, they are going to turn on Obama.

 

Jimmy Obama, that is, just like one-term Jimmy Carter.

 

But when he is not re-elected, he will have rammed through enough bad government that it will take a decade to undo the damage.

 

The stock market numbers in fact are Obama’s “approval rating” from the people who matter – those who create our economy and our wealth. Whenever Bush displeased that group or this constituency, the media reported it full force with a poll. That the media are not even putting together these stock market figures and pointing out how little confidence there is in Obama is shameful, but typical.  The media will back Obama to the gates of… well, you know.

 

Obama’s far-left Democrat party is fully responsible for this whole financial fiasco to start with, and the sooner people find out the better – from Democrat Robert Rubin running Citigroup into the ground; to Democrat congressman Barney Frank covering up for the collapse of Fannie Mae; to big Democrat donor Richard Fuld ruining Lehman Brothers; to Democrat donor Bernie Madoff running the biggest ponzi scheme ever; to Democrat Franklin Raines sucking $100 million out of Fannie Mae; to Obama backer Jeffrey Immelt wrecking General Electric – once one of our strongest corporations; to the Democrat-dominated unions milking the auto companies dry; to the Democrat poor taking out trillions in home loans and not paying it back.

 

It is time for Americans to see the facts on the ground and to see the actual figures and to understand what is in store in the next four years.

 

Please visit my website at www.nikitas3.com for more. You can print out for free my book, Right Is Right, which explains why only conservatism can maintain our freedom and prosperity.