by jwright
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If you currently have a 401-k investment, a mutual funds account, or any of dozens of other investments in our stock market, you are probably like many ordinary Americans; not filthy rich but at some point had some extra dollars to stash away beyond your annual budget requirements, maybe for your retirement years. If so, you are acutely aware that since November 4, the day when candidate Obama was elected to the highest office in the land, the value of the stock market and your investments have shrunk about 31% in value; or in total dollars, about $3-trillion dollars in lost investments.
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President Obama recently sloughed off those stock market losses, likening them to a political “tracking poll” that fluctuates up and down. [In this case, it has all been down.] Those financial loses of yours mean nothing. In otherwords, your dollar investment is now worth about 69-cents. In order to counter that, the Obama White House is currently attacking radio personality Rush Limbaugh. Where are the adults?
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So what is the newest, gimmicky, dishonest solution emitting from the Obama White House think tank? Instead of coming up with a feasible, workable plan to rescue our deteriorating banking system and possibly stop the downward slide of the markets, he’ s now blaming the nation’s ongoing financial problems on our inability to provide improvements to national health, education, and energy.
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As veteran journalist Charles Krauthammer recently wrote: “Clever politics, but intellectually dishonest to the core. Health, education and energy -- worthy and weighty as they may be -- are not the cause of our financial collapse. And they are not the cure. The fraudulent claim that they are both cause and cure is the rhetorical device by which an ambitious president intends to enact the most radical agenda of social transformation seen in our lifetime.”
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Candidate Obama campaigned on “Change.” I wonder now, after a mere six weeks since his inauguration, how many of the Obama faithful are experiencing buyers remorse?
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Krauthammer Quote Source: http://www.realclearpolitics.com/articles/2009/03/a_dishonest_gimmicky_budget.html.
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This from the Internet today:
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The Dow Jones Industrial Average has fallen 20 percent since President Obama took the oath of office.
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Friday, March 06, 2009
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The Dow Jones Industrial Average has fallen faster under President Obama than under any new president in at least 90 years, according to a review conducted by Bloomberg.Bloomberg reports that since Inauguration Day, the Dow has fallen 20 percent, leading at least one investor to dub this the "Obama bear market."
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The Dow has also dropped 31 percent since Election Day.Despite a string of government bailout offers and Obama's advice earlier this week that Americans should be buying stock while shares are low, the Dow has continued to freefall.
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Bloomberg reported that Obama is at risk of breaking a historical trend -- in which the Dow soars an average of close to 10 percent in the first year after a Democrat wins the presidency.
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Business reacts to policy and you are seeing that reaction to the largest budget and government takeover of private industry in U.S. History. [Hello Socialism!]