Stock Market

His Mightiness the Empty Suit, in the getting-dingier-by-the-day White House, is constantly holding forth, sagely saying NOTHING in front of gaggles of “journalists”, who dutifully report NOTHING, while the would be NEO-STAZI in the Suit’s administration attack the only news and information outlets that do say SOMETHING about what the President, the administration and that zany and dysfunctional but extremely dangerous Congress, led by Nancy “Stretch” Pelosi and that ever popular Harry “I ain’t got a prayer of re-election” Reid, are up to. While the people of America continue to suffer the throes of a completely jobless “recovery”, with a recession that shows every indication of being worse despite what all the liberal pitchmen in the administration and the media lapdogs are saying. The FACTS are that there are no jobs and the REASON that there are no jobs is that small business is scared to death. The government has a plethora of more than onerous taxation, regulation and punitive laws waiting in the wings, custom designed to destroy the private sector. Job growth does not come from unionized segments of the society and hasn’t since the days of Henry Ford. Trade unionism is a cancer which can destroy. Trade unionism destroyed Great Britain’s economy and it hasn’t recovered to this day. Unions by their very nature are antithetical to GROWING anything…they produce very little other than protecting their own interests. They have a tendency toward protecting the least well qualified as opposed to the most…the government unions are a prime example. The service and automobile industry unions are others. Meanwhile, the stock market continues to show increases in value. WHAT gives? Simply, they are increasing profit margins by laying people off and consolidating operations. Job growth comes from private business…in the larger context of the economy large business does not create nearly as many jobs as the small business entrepreneur. These jobs are not being created specifically because of the anti-business, anti-American policies of the Obama White House and the Marxist Obama administration and Congress. 500,000 new jobless claims is 500,000 JOBS LOST TO THE OBAMA ECONOMY. He can’t blame the Bush administration for this and hasn’t been able to for six months or more. Suspicious minds would conclude that there are more sinister activities and purposes afoot here than our usually trusting minds can easily wrap themselves around…or want to believe…

Semper Vigilans, Semper Fidelis

© Skip MacLure 2009

A remarkable thing happened last night on the MSM. CNBC Mad Money host Jim Cramer yesterday pinned the tail of recent stock market declines squarely on President Obama's backside. It was remarkable opening commentary, from a Wall Street guy who admits to supporting Obama's policy goals and who all but endorsed his candidacy during the campaign.

Only twice before in my memory has Cramer ventured into the political realm to assign blame for stock market performance -- last summer and fall, respectively, with Bush deficits and Bernanke/Fed inaction on the collapse of major investment banking firms.

Cramer's treatment of Obama was gentle compared to the spitting-mad tirade he threw at Bernanke ("'They know NOTHING!). 

Cramer says nothing we haven't heard at this and other conservative blogs -- except to agree that national health care, cap-and-trade, are good policy objectives, they just have to be pursued at the right time.

At the same time last night, David Gergen commented on Anderson Cooper that Obama's team seems to be losing focus, pushing too many ambitious policy goals to the point where they are starting to undermine the foundation objective of stabilizing the economy.

All of this commentary points to one of two possibilities: Either Obama is an overly ambitious Harvard guy, naive about how much change the national can absorb in a year, or he is a reckless ideologue -- he just doesn't care if his accelerated agenda wipes out private savings, because he is so absolutely certain in that "righteous wind at our backs."

Cramer himself raised the possibility that maybe he "just doesn't care about the stock market," and implored Obama to show otherwise.

As if in response this morning, Obama says he won't base policy on the "gyrations" of the financial markets.

Fair statement, but it only proves Cramer's point: There is no gyration in the markets; it is a freefall collapse. Were that we were seeing gyrations! Two and three hundred point drops wouldn't be so troubling. But the decline, since the election and inauguration, has been steady and strong, especially after Obama policy pronoundements.

If capital is indeed on strike, and stays on strike, Obama's confident words this morning about a 2009 recovery ("I'm certain of it") will come back to haunt him, just as John McCain was quickly haunted by his statement that the fundamentals of our economy are sound. It will be no satisfaction to see, given the suffering that is being inflicted.

h/t dealbreaker.