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WSJ: Obama's Budget and Policies Are Causing a Capital Strike and Driving the Market Down

Dude, where's my honeymoon rally?

The market has notably plunged since Mr. Obama introduced his budget last week, and that should be no surprise. The document was a declaration of hostility toward capitalists across the economy. Health-care stocks have dived on fears of new government mandates and price controls. Private lenders to students have been told they're no longer wanted. Anyone who uses carbon energy has been warned to expect a huge tax increase from cap and trade. And every risk-taker and investor now knows that another tax increase will slam the economy in 2011, unless Mr. Obama lets Speaker Nancy Pelosi impose one even earlier.

Meanwhile, Congress demands more bank lending even as it assails lenders and threatens to let judges rewrite mortgage contracts. The powers in Congress -- unrebuked by Mr. Obama -- are ridiculing and punishing the very capitalists who are essential to a sustainable recovery. The result has been a capital strike, and the return of the fear from last year that we could face a far deeper downturn. This is no way to nurture a wounded economy back to health.

Listening to Mr. Obama and his chief of staff, Rahm Emanuel, on the weekend, we couldn't help but wonder if they appreciate any of this. They seem preoccupied with going to the barricades against Republicans who wield little power, or picking a fight with Rush Limbaugh, as if this is the kind of economic leadership Americans want.

And read Tony Bankley's "Obama lied: the economy died" column as well. Obama is, in fact, lying about his supposed "$2 trillion in spending cuts" over the next ten years; when pressed, staffers admit that that $2 trillion is made up of both spending cuts and tax increases.

And Roger Kimball, too:

Many people, I believe, have been stunned by the President’s behavior in his first weeks in office. It’s been a shock and awe performance. Historians of this period will look back in wonder: how ever did a new President waltz into office and, before he had even finished unpacking, extract $800,000,000,000 from taxpayers for partisan spending programs? Partly, it was a matter of successful rebranding: the President managed to convince some important people that his spending package was really a stimulus package, i.e., something that would help the economy, not hobble it. We know better now, having just suffered the largest post-inauguration market rout in history. But those historians will note with interest how, even at the beginning of March, some reputable commentators still referred to the President’s poverty program as “stimulus package.”

Posted by: Ace at 11:09 AM



Comments

1 This all looks vaguely familiar. I think I've seen this movie before and as I recall, it doesn't end well.

Posted by: The Forgotten Man at March 03, 2009 11:10 AM (hlYel)

2 Change!

Posted by: In Exile at March 03, 2009 11:10 AM (saQlg)

3

Did Barry open his mouth today? The Dow just went negative.

Posted by: TheQuietMan at March 03, 2009 11:13 AM (1Jaio)

4 I think the market continues on this because it feels that:
1) Obama is just winging it.
2) When Obama speaks, nobody believes him.
3) When they believe him, nobody likes what he said.

Examples: "I am not a big govt guy."  See #2.  Raising $1 trillion in new taxes. See #3.

Posted by: oLD gUY at March 03, 2009 11:15 AM (n1yDn)

5

"notably plunged"

The first nominee for 2009's Understatement of the Year.

Posted by: reason at March 03, 2009 11:18 AM (q/kmn)

6 What do I think of all of this? <shrugs>

Posted by: Atlas at March 03, 2009 11:19 AM (hlYel)

7

are those chickens i hear?

 

/clears roost

Posted by: trailortrash at March 03, 2009 11:20 AM (pseS/)

8

Oh, and has anyone chalked this market plunge up to racism yet?  You know, Corporate Whitey getting on the phone with The Man, and manipulating the levers that run this big machine to intentionally tank the market and make Barry look bad?  I mean, the nerve!  And just when we're coming down off of our high from celebrating the First Black History Month Where Black History Was Made in the White House.

(by the way, if anyone wants a commemorative FBHMWBHWMWH latex balloon, let me know.  I've got an extra box of 'em)

Posted by: reason at March 03, 2009 11:21 AM (q/kmn)

9 Obama inspires the market just like the Steward of Gondor: "Run...run for your lives"

Posted by: In Exile at March 03, 2009 11:22 AM (saQlg)

10 The destruction of capital makes perfect sense if one's ultimate goal is to make everyone a ward of the state.

Pray for a midterm election rout of the dems, so at least we will have a divided government that can slow the Obamassiah's most obvious Marxist tendencies.

Posted by: NJconservative at March 03, 2009 11:22 AM (nwJit)

11

March 3 (Bloomberg) -- President Barack Obama released billions of dollars today for public works projects to spur job growth and revive the economy.

“Fourteen days after I signed our recovery act into law, we are seeing shovels hit the ground,” Obama said today while visiting the Transportation Department in Washington. Of the 3.5 million jobs saved or created, about 400,000 will be rebuilding crumbling roads, bridges and schools, he said, with $28 billion devoted to highway construction.

 

I'd like to see a shovel hit him in the head.

Posted by: TheQuietMan at March 03, 2009 11:22 AM (1Jaio)

12

Worst. President. Ever.

After a month or so in office, I feel confident this statement will be proved true.

Posted by: JackStraw at March 03, 2009 11:23 AM (VW9/y)

13 Yup, the market is doing EXACTLY what O and his team want it to do, become another emergency for them to screw up, oops I mean " fix" as in fixing Chicago style.Anybody who does not want these policies of his to cease, desist and fail can kiss my ass.

Posted by: mbruce at March 03, 2009 11:27 AM (t/GDA)

14 This is going to be a long cold 4/8 years.  It'll take us 20-25 years to undo the damage.

Posted by: Purple Avenger at March 03, 2009 11:32 AM (Ygf78)

15 Markets tanking again now.  Dow -43.48. 

Fuck you ط-bammy.

Posted by: remy hair at March 03, 2009 11:34 AM (IoUF1)

16 The fun ain't over yet by a longshot.

Bernanke Says U.S. May Need to Expand Bank Rescue

http://tinyurl.com/apu3dh
 

Joy and Happiness

Posted by: Techie at March 03, 2009 11:38 AM (906oR)

17 Some see private enterprise as a predatory target to be shot, others as a cow to be milked, but few are those who see it as a sturdy horse pulling the wagon.

Posted by: Winston Churchill at March 03, 2009 11:38 AM (PD1tk)

18 Obama inspires the market just like the Steward of Gondor: "Run...run for your lives"

So, when do our Gandalf and Aragorn arrive?

Posted by: Ranba Ral at March 03, 2009 11:39 AM (PmunY)

19 I've got your honeymoon rally right here.

Posted by: right at March 03, 2009 11:42 AM (EquV1)

20 Even Stevie Wonder can see this disaster.

Posted by: Admr. Sebastian B. O. Buniontow VI at March 03, 2009 11:43 AM (NLtVk)

21 But his approval rate is still > 60% - there sure are some dumb ass idiots in this country.

Posted by: IC at March 03, 2009 11:43 AM (jZNCU)

22 I'd like to live in Roger Kimball's future, but isn't history written by the guys who say "I won"?

How do you apply for one of those "shovel" jobs? 

Posted by: HeatherRadish at March 03, 2009 11:45 AM (Xo7U/)

23

But his approval rate is still > 60% - there sure are some dumb ass idiots in this country.

Those are people like Henrietta Hughes and Julio The Frycook, who stand to gain from everything Obama is proposing. 

And they can vote.

Posted by: EC at March 03, 2009 11:45 AM (mAhn3)

24 I almost can't bear to read this.  It's too depressing.  Obama is pissing all over the economy, and his approval ratings are still so high.

Posted by: Jeff B. at March 03, 2009 11:49 AM (rq3XC)

25

And just when we're coming down off of our high from celebrating the First Black History Month Where Black History Was Made in the White House.

Or as the History Channel has been hawking it, "King and Obama, two of the icons of American history."  Obama?  Icon?  Dudes only been in office a month and it ain't workin' out too well so far.  You might wanna wait a while before granting him "icon" status.

Posted by: Steve L. at March 03, 2009 11:50 AM (Gkhxf)

26 Liesman on CNBC, after Lindsey Graham's questioning of Bernanke, made fun of the Republicans for not challenging the very items Larry Kudlow has been going ballastic about.  What they fail to realize is that there are no republicans anymore, they are mearly dems with the republican banner.

Posted by: silly at March 03, 2009 11:50 AM (zplc6)

27 I am highly pissed. He is trying to fuck us but good.

Someone needs to make bumper stickers:

AsshOle-Big O being the Obama O

Obama Lied, The Economy Died

SOcialist-Same O

This is not the end of it. All Blue Dogs must lose in the mid-terms. Those seats absolutely must be taken back. After this "stimulus" debacle we have learned that there is no such thing as a "blue dog" they lied as well.

We need to get busy folks.  I see a huge, I mean HUGE motherfucking swing in the mid-terms.

Someone make a photo shop of Obama and Marx french kissing, in the style of the old Benetton campaign.

Lets get our creative folks on this shit.

Posted by: Uniball at March 03, 2009 11:50 AM (27iEn)

28 With the economic downturn, the attack on capitalism, there is ongoing to be a lot of good Republican talent freed up from the private sector. There are a lot of people who are really scared, and royally pissed right now.

Posted by: Uniball at March 03, 2009 11:52 AM (27iEn)

29 So, when do our Gandalf and Aragorn arrive?

They went home after Grima Wormtongue called them ugly Nazi's.

Posted by: adamthemad at March 03, 2009 11:53 AM (kIjlp)

30 Somewhere, George Soros is laughing his ass off.

Posted by: BackwardsBoy at March 03, 2009 11:54 AM (ZGhSv)

31 "24 I almost can't bear to read this.  It's too depressing.  Obama is pissing all over the economy, and his approval ratings are still so high.

Posted by: Jeff B. at March 03, 2009 11:49 AM (rq3XC)"

People would not tell the pollsters what they are really thinking as they have been trained to be PC.  so they are bing PC letting the new guy think everyone is behind him.  He is actuallly good for the country.  Have never heard so many public conversatins between strangers about wall street the economy small business and credit card interes rates, in my life.   He has everyone talking and expressing their opinions.  Best conversation was on the dry cleaning line as the line "being taken to the cleaners" was a natural.

Posted by: silly at March 03, 2009 11:54 AM (zplc6)

32 I just watched a Today show clip with Cramer and some news money chic named Erin. The link is over at the Corner.

Good lord ... Erin is a moron and I do not mean an Ace of Spades moron. I mean a real moron. She actually said all we have to do is believe and the stock market will improve. Cramer was rolling his eyes and countered a recovery has to be based something.

Didn't Cramer support Obama? He certainly is not feeling the love now.

Posted by: Long Island at March 03, 2009 11:55 AM (/QzyE)

33 The most fascinating thing said today was when Uncle Ben ostensibly told us that the London office of AIG had ostensibly turned a good insurance company into a hedge fund.

Posted by: silly at March 03, 2009 11:57 AM (zplc6)

34

there sure are some dumb ass idiots in this country

Well, sure, but hasn't that always been true? The sage, the wise, the careful, the forward-thinking and critical, will always be a minority in any large group of people. People voted for Obama in large numbers and now they're getting exactly what (and who) they voted for -- good and hard. No pity from me.

Americans are being reintroduced to reality after an extended vacation in a magical land where money flowed like water and bad decisions could be written off with no consequences. Obama and Congress are trying mightily to keep the mirage from fading, but the bare and boundless desert has asserted itself. The sun blazes down, and we search in vain for an oasis among the dunes. Why did we wander into this trackless wasteland? we wail. How could we have been so cruelly duped? We hide our shame that we eagerly entered the desert to live in the mirage, and hide our own idiocy behind a curtain of anger at the people who duped us.

If there is comfort to be taken, it is this: we cynics have been proven right yet again. It is cold comfort to be sure, but even cold comfort is welcome in this blazing wasteland we find ourselves in.

 

Posted by: Monty at March 03, 2009 11:57 AM (/0a60)

35

What we're seeing is the Bill Ayers economic model: spend a shitload of money with failure as the only result.

The Vapid One™ was a really good sudent.

Posted by: BackwardsBoy at March 03, 2009 11:59 AM (ZGhSv)

36 "32 I just watched a Today show clip with Cramer and some news money chic named Erin. The link is over at the Corner.

Good lord ... Erin is a moron and I do not mean an Ace of Spades moron. I mean a real moron. She actually said all we have to do is believe and the stock market will improve. Cramer was rolling his eyes and countered a recovery has to be based something.

Didn't Cramer support Obama? He certainly is not feeling the love now.

Posted by: Long Island at March 03, 2009 11:55 AM (/QzyE)"

Yep, he did support Obama and in the last couple of days on his show he has been attacking him and his policies and recommending stocks that are "Obama resistent".  Erin is a big CBC star has her own show, was stuck on the opening bell with Mark Haines who has agita with everythig she says and she seems to be cramer's protege.

Posted by: silly at March 03, 2009 11:59 AM (zplc6)

37 Just in case Congressional Democrats don't revolt in time (sure, they're revolting, but I mean the other kind of revolting), I'd like to get ahead of this.

Anybody have any good reads on examples of transitions to communism, socialism, national socialism? Online would be great. What gets done to the stock market, the industries that get crushed, the steps that are taken with currency, property, taxes, etc. Instead of just reacting all the time, I'd like to see the roadmap so I can survive. South Vietnam, Iran, Cuba, China should be good case studies.

Thanks.

Posted by: t-bird at March 03, 2009 12:00 PM (FcR7P)

38 Great. Just fucking fantastic.  Of all the shitty government programs that have failed to produce their desired results, this one? Obama's War on Prosperity is going to be the break out success story of all time?

Well, fuck me.

Posted by: Deety at March 03, 2009 12:00 PM (1jglO)

39 I think we need to start arguing amongst ourselves about the evils of Rush v. the evils of Michael Steele. Keep the focus on the important stuff.

Posted by: Long Island at March 03, 2009 12:01 PM (/QzyE)

40

@37

In Cuba's case, the first step anyone takes is to find a '54 Chevy that still runs.

Posted by: BackwardsBoy at March 03, 2009 12:02 PM (ZGhSv)

41 This downturn is good news. It'll force deep cuts in welfare programs like social security. Also wage-rates for working stiffs will be whacked, which is good for America's ability to compete. The collapse in retirement plans will force the elderly into the job market, further lowering wage-rates. Excellent.

And the depression will kill health care "reform." People who work and have the means to pay for health care, should be rewarded with the care. That's the way we ration health care.

This is the best of times.

Posted by: CPAC Mac Daddy at March 03, 2009 12:03 PM (aI6gV)

42 Ford says cars sales dropped 46.3% and truck sales 54%.  But Phil on CNBC says the street expected this so not to be concerned.

Posted by: silly at March 03, 2009 12:03 PM (zplc6)

43 #12
You don't have to wait.  This jug-eared toadstool has outdone every fool ever to set foot in the Oval Hothouse.  Barry is officially the worst President ever, and after only two months.  Look for him to outdo himself over the next eight to ten years.  By his reckoning of time.

Posted by: George Orwell at March 03, 2009 12:04 PM (AZGON)

44

But his approval rate is still > 60% - there sure are some dumb ass idiots in this country.

 

They bought into the hype and bullshit. They don't have a thought in their empty little heads.

Posted by: TheQuietMan at March 03, 2009 12:06 PM (1Jaio)

45 #40:  In Cuba's case, the first step anyone takes is to find a '54 Chevy that still runs.

Step 2:  Make it seaworthy (at least enough to reach Florida).

Posted by: CM at March 03, 2009 12:06 PM (mga4V)

46 BTW, the questions to "the beard" from the senators in the republican wing of the democratic party were a total disgrace.

Posted by: silly at March 03, 2009 12:06 PM (zplc6)

47

Another cheery thought as our economy burns down around us:

There are some who think that America will fade and another global power will rise. China, India, perhaps a reinvigorated EU. Somebody. It is meant to be a scary prediction, but I would actually be somewhat comforted to know that someone would take up the reins if they fall from our hands. Alas, I do not think this will be the case.

The real danger in this economic meltdown is not that someone will supplant the US as the premier global power, but that no one will. Without America's economic engine, without America's mediation and implicit power, we might be facing a world where eternal warfare might be a fact of life. What will restrain India and Pakistan, nuclear powers both? What will restrain North Korea? What will hold back a resurgent and revanchist Russia?

If America withdraws to her own shores to deal with problems at home, Pandora's demons will truly be let loose.

 

Posted by: Monty at March 03, 2009 12:08 PM (/0a60)

48 We need to shut the fuck up about Rush and Steele. The fact is that we the people are the only ones who can make a difference. We can't look to Steele or Rush to step it up. This is so fucking serious that WE need to step it up.

Stop playing the PC game. Call Obama and his zombies out whenever possible. Treat them like the idiots they are.

Treat these fuckers with the same respect they treated/treat conservatives.

The only thing we can do with the current Rs is email, call, get on their balls about being soft and get the RINOS out, get Graham out!

Posted by: Uniball at March 03, 2009 12:08 PM (27iEn)

49 In 20 minutes the house ways and means committee will be questioning little timmay.

Posted by: silly at March 03, 2009 12:08 PM (zplc6)

50

I just watched a Today show clip with Cramer and some news money chic named Erin. The link is over at the Corner.

 

I'm guessing it was Erin Burnett. She's a lovely bit of stuff but has nothing between the ears.

Posted by: TheQuietMan at March 03, 2009 12:09 PM (1Jaio)

51 A recurring theme from the senators this morning was that people with small business are complaining to them vociferously as they are having problems staying afloat.

Posted by: silly at March 03, 2009 12:10 PM (zplc6)

52 I agree monty. We can either help with world stability, or we can be a socialist paradise with free abortions, but we can't be both.

Posted by: Uniball at March 03, 2009 12:11 PM (27iEn)

53 sue herrerra just asked cantor "do you still have confidence in the treasury secretary?"  He hedged and said "well he's new on the job"  Never seen her so dogged, she kept repeating the question until cantor finally said that this afternoon's testimony will be very telling.

Posted by: silly at March 03, 2009 12:13 PM (zplc6)

54 @42

Phil on CNBC is right.  I'm in the industry and I'm not phased by this news at all.


BTW: Anybody know a 5 letter word for "cures bad humors?" it begins with an L and ends with an H but it's not laugh.  I already tried that one. Doesn't fit.

Posted by: Hangin' at the UAW Jobs Bank at March 03, 2009 12:15 PM (1jglO)

55 Jeff B., sorry for comparing you to David Frum last night.  That was uncalled for.

Posted by: Techie at March 03, 2009 12:17 PM (906oR)

56

Hangin':

 

Leech.

 

Posted by: Monty at March 03, 2009 12:17 PM (/0a60)

57 This whole thing can be blamed on Republicans. If the assholes had been doing their jobs, I don't think any of this would be happening now.

Posted by: TC at March 03, 2009 12:19 PM (DYJjQ)

58 Ace,

You need an editor. His name is Blankley, with an 'L.'

Posted by: adamthemad at March 03, 2009 12:19 PM (kIjlp)

59 Uniball, you want slogans? How about:

Groucho, Harpo, Chico, Karl.
Noone needs Obamo Marx.

Dude, where's my economy?

Obamus Porkulus I:
Veni, Vidi, Porky.

A Potempkin Village is
Missing its idiot.

FNMA can't guarantee a mortgage
on our future, either.

Message from my Grandkids:
Get bent, Obama.

$13/week?
Pinch me, I'm dreamin'.

Obama, Biden, Pelosi, Reid-
the 4 Rodeo clowns of the Apocalypse.

Stimulus- The OTHER white meat.

Where's your tingle now, Matthews?

398,778 layoffs.
Dow -28%.
Budget Deficit x 4.
Hopeless.

My IRA is M.I.A.
Thanks, jugears.

From 48 to 52-
Happy, comrades?

Socialism NEVER works.
But to be fair-
it ALWAYS fails.

FDR. LBJ. BHO.
I'll take Moe, Larry, and Curly.

Just a few idears for Tea Party signs- use them at your leisure.







Posted by: buster mcDissenter at March 03, 2009 12:21 PM (4ezUN)

60

@47

Monty, perhaps a retrenching of our country wouldn't be a bad thing. We do still have the best military in the world and we can still hit targets if we need to (Iran comes to mind).

We could rebuild our manufacturing capability, purge Marxists from our schools and government, get back to basics as far as capitalism is concerned and generally enjoy an American Rebirth of the principles that our founding fathers held so dear.

We could then tell the rest of the world to fuck off and die. They could imitate our success if they so chose. If they wanted to take anything from us, we could turn them into a parking lot.

But then again, I'm prone to flights of fancy occasionally.

Posted by: BackwardsBoy at March 03, 2009 12:21 PM (ZGhSv)

61
@47 Monty
@52 Uniball

The way to prevent the world's devolution into eternal warfare is to clean our own house quickly when our collapse comes.

Steel yourselves to the task.  Start thinking of the left as animals, and it will be that much easier to do what needs doing when the time comes.

Posted by: MikeO at March 03, 2009 12:22 PM (4sSHg)

62 NJConservative @ 10:
The destruction of capital makes perfect sense if one's ultimate goal is to make everyone a ward of the state.
Pray for a midterm election rout of the dems....

Pray that there will be a midterm election in 2010.

Posted by: Kathy from Kansas at March 03, 2009 12:23 PM (Bi/c5)

63 "50

I just watched a Today show clip with Cramer and some news money chic named Erin. The link is over at the Corner.

 

I'm guessing it was Erin Burnett. She's a lovely bit of stuff but has nothing between the ears.

Posted by: TheQuietMan at March 03, 2009 12:09 PM (1Jaio)"

Her show comes on right after power lunch.  She thinks everyoone is watching cause of her, not true, everyone watches because Jim Cramer, her mentor, has a segment during her show called "stop trading"  If you took away Cramer's segment, no one would watch her show.

Posted by: silly at March 03, 2009 12:23 PM (zplc6)

64

This whole thing can be blamed on Republicans.

That's rather facile (though not entirely untrue). This problem has literally been decades in the building -- at least since the early 1990's, if not since the Great Society debacle of the middle 1960's. If the blame goes anywhere, it goes directly on us -- the voters who, year after year and decade after decade, kept the party-train rolling and damn the future consequences.

Boomers are going to be (rightly) vilified by future generations for being a bunch of self-abosrbed wastrels. There are many fine and upstanding individuals in that demographic, but as a group they deserve much of the blame for the mess we're now in, and I find it hard to forgive them for that.

 

Posted by: Monty at March 03, 2009 12:25 PM (/0a60)

65   A Potemkin Village is missing its Idiot.

Heh heh.  You know, with the icy weather that is the hallmark of Global Warming, the White House is looking a lot like the Winter Palace right about now.  It ought to be stormed.

Posted by: George Orwell at March 03, 2009 12:25 PM (AZGON)

66

Obama is pissing all over the economy, and his approval ratings are still so high.

That is because:

a) it is taboo in the media to mention Obama's name in the same news story as the tanking stock market.  NPR will even go so far as to mention Republican "obstructionism" and Rush Limbaugh as possible culprits, but refuses to speculate that the policies and pronouncements of the President of the United States could somehow have an impact on Wall Street!  But that seems to work like a charm for most of the people who get their news that way, and...

b) the polls are contrived to isolate questions of Obama's personal attributes (pecs...?) from the negative results he is spectacularly achieving.

It's pretty simple really, if you want to control the people, you control the media, and the media today is more than happy to be controlled as long as they are happy with what the controllers want to do politically and socially.  The next time anyone tells you that the media is a "watchdog", you can be absolutely sure that the person speaking to you is either a congenital idiot or a delusional and pathological liar.

Posted by: sherlock at March 03, 2009 12:27 PM (N7uu0)

67 How about, "Obama hates you" as a bumper sticker.

Posted by: Uniball at March 03, 2009 12:27 PM (27iEn)

68

I just watched a Today show clip with Cramer and some news money chic named Erin. The link is over at the Corner.

 

I'm guessing it was Erin Burnett. She's a lovely bit of stuff but has nothing between the ears.

Posted by: TheQuietMan at March 03, 2009 12:09 PM (1Jaio)"

Her show comes on right after power lunch.  She thinks everyoone is watching cause of her, not true, everyone watches because Jim Cramer, her mentor, has a segment during her show called "stop trading"  If you took away Cramer's segment, no one would watch her show.


 

I used to watch her show with the sound off.

Posted by: TheQuietMan at March 03, 2009 12:29 PM (1Jaio)

69 Jeff B. @ 24:
I almost can't bear to read this.  It's too depressing.  Obama is pissing all over the economy...

...and our national security. And the Constitution. And basic human decency. And freedom. And sanity....

Posted by: Kathy from Kansas at March 03, 2009 12:30 PM (Bi/c5)

70

Somewhere a Potemkin village is missing its idiot community organizer.

FTFY

Posted by: sherlock at March 03, 2009 12:36 PM (N7uu0)

Posted by: George Orwell at March 03, 2009 12:36 PM (AZGON)

72

The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.
~Vladimir Lenin

 

The best way to destroy the capitalist system is to debauch the currency.

~Vladimir Lenin

 

A revolution is impossible without a revolutionary situation; furthermore, not every revolutionary situation leads to revolution.
~Vladimir Lenin

 

A lie told often enough becomes the truth.
~Vladimir Lenin

 

The press should be not only a collective propagandist and a collective agitator, but also a collective organizer of the masses.
~Vladimir Lenin

 

There are no morals in politics; there is only expedience. A scoundrel may be of use to us just because he is a scoundrel.
 ~Vladimir Lenin

 

Yup, it looks like Obama and the Democrats are following the playbook to the letter.

 

Posted by: Speller at March 03, 2009 12:39 PM (iYtzV)

73

I am seriously beginning to wonder if perhaps Obama may not make even a full term, and may actually be forced to resign.  The problem is, of course, his estwhile successors would be just as leftist, but even less intelligent... but maybe that is the best we can hope for.

I want to the Democrats and the MSM utterly destroyed for what they have done to us.  Nothing else will suffice as punishment for the treachery they have accomplished in saddling us with this empty suit communist, and creating sufficient numbers of useful idiots to vote him in.  Damn them all to hell.

Posted by: sherlock at March 03, 2009 12:47 PM (N7uu0)

74 We are living in a macrocosm of Jonestown.  Even the tools who work for the MSM have 401(k)s and pay taxes.  When the S&P halves again, when the new tax bills arrive and have gone up twenty or so percent, when no investments pay dividends and CD rates are 1%, when inflation hits 5, 7, 9% per year... the O-bots who work will have to face it.  And how will they react?

I predict they will do as Jim Jones's disciples did, and swallow the Kool-Aid.  The cult of Obastard is just that.  A secular religion, and one never questions the works of the Lord, if you are a true believer.

In other words, much of the Nation Below Canada is literally suicidal.

Posted by: George Orwell at March 03, 2009 12:53 PM (AZGON)

75

Damn them all to hell.~sherlock 12:47 PM

Our program necessarily includes the propaganda of atheism.

~Vladimir Lenin

 

Posted by: Speller at March 03, 2009 12:53 PM (iYtzV)

76 Those of us who want Obama to fail are sad about being right all the time....

Posted by: Luca Brasi at March 03, 2009 12:54 PM (YmPwQ)

77  I amplify... as I've said before, this is a cultural problem, no longer a strictly political one.  The Left has lectured an entire generation about the evil that is the Nation Below Canada.  The racism, sexism, bigotry, greed and violence that is allegedly endemic in our society is presented as simple fact, and any denial of such charges has been presented as reactionary, deceitful and unworthy of debate.  An entire generation has been told we are destroying the planet, that technology is more often evil than good, that if anyone has less than someone else it's because someone has cheated.

You cannot indoctrinate a whole generation with this stuff and be surprised when they vote for and promote their own oblivion.

Posted by: George Orwell at March 03, 2009 01:00 PM (AZGON)

78

Do you know how to set up a One World Gov? 

1. Fuck up the financial system.

2. Rescue fucked up system with World bank entity.

3. He who controls the money controls it all. 

It really is right in front of you. 

Posted by: Pelvis at March 03, 2009 01:07 PM (LlaBi)

79

You cannot indoctrinate a whole generation with this stuff and be surprised when they vote for and promote their own oblivion.~ George Orwell 01:00 PM

Give me four years to teach the children and the seed I have sown will never be uprooted.
~Vladimir Lenin

Give us the child for 8 years and it will be a Bolshevik forever.
~Vladimir Lenin

Posted by: Speller at March 03, 2009 01:07 PM (iYtzV)

80 #71.  perfect ...

Posted by: Adriane at March 03, 2009 01:08 PM (W7nzI)

81 Give us the child for 8 years and it will be a Bolshevik forever.
~Vladimir Lenin

Like a fucking vampire.  There is no getting rid of the specter of Ulyanov.

Posted by: George Orwell at March 03, 2009 01:17 PM (AZGON)

82

Economists of the future will call graphs like that Obama-shaped graphs.

I think I hate Karl Marx more than any person in history.  He must be on his perch in Hell laughing his ass off right now.

 

Posted by: Eleven at March 03, 2009 01:59 PM (7DB+a)

83 That chart is nothing.  Back that date to end of the last Republican Congress budget fiscal year, which would be 9/28/2007.  The stock market was at 13,895.  Then the Democratic Congressional Budgets started kicking in, and look where we are now.

Posted by: Leland at March 03, 2009 02:05 PM (Q5asM)

84

#72:  Exactly.

Many pundits and commentators are still acting like this is due to Obama's inexperience, but I think Obama knows exactly what he's doing.  Rahm Emanuel said something like "never let a crisis go to waste".  Obama is capitalizing on a crisis to do what he has always wanted, what he learned from those Marxist professors he sought out (Audacity of Hope) and what he expressed in his speech about the "Righteous Wind" (quoting Chairman Mao).

Obamas DOES NOT CARE to solve the crisis.  The crisis is the cover for a takeover.  A continuing crisis will allow him to continue his remaking of America.  This financial crisis is not a problem for Obama.  It's a dream come true. 

Posted by: OCBill at March 03, 2009 02:17 PM (WGXy4)

85 Hangin' at the UAW Jobs Bank:

lymph may also work.

Posted by: David in San Diego at March 03, 2009 02:30 PM (GF+6V)

86

lymph may also work

I don't think so -- it doesn't fit the clue. In medival times, leeches were used to "bleed" people in the belief that it would purge people of ill "humors", which were supposed to run in the blood.

 

Posted by: Monty at March 03, 2009 02:35 PM (/0a60)

87

I actually heard somebody say they "feel HOPE for the first time in 8 years.." the other day.  NO JOKE.

 

I can hardly contain my RAGE anymore.  This motherfucker isn't even AWARE that his stupid fucking porkulus and budget is destroying our economy!! GODDAMNIT!! at least tell us you understand...? something?

Seriously, his 'cool character' thing is starting to scare the hell out of me.  Feels like he really doesn't understand what he's doing to us.  god help us

Posted by: John Frum at March 03, 2009 02:54 PM (w60VX)

88

The real danger in this economic meltdown is not that someone will supplant the US as the premier global power, but that no one will.

Ayup.

Without America's economic engine, without America's mediation and implicit power, we might be facing a world where eternal warfare might be a fact of life.

Bingo. There are several nations that have some fundamental disputes with each other (Turkey & Greece come to mind, as do South Korea and Japan). They don't act militarily on those disputes--because they know that Uncle's going to be there to help keep a lid on things. And maybe--just maybe--Uncle helps them come to a resolution of the dispute, even if the only thing we do is give everyone time to cool off and get some perspective.

What will restrain India and Pakistan, nuclear powers both?

I kind of hope that India and Pakistan have figured out that destroying each other is a severely sub-optimal outcome--they went right up to the brink in early 2002 and then realized that doing that was A Bad Thing.

What will restrain North Korea?

Damfino. I don't know how to cope with stupid and crazy.

What will hold back a resurgent and revanchist Russia?

Demo-fucking-graphics is destiny--and Russia's demographics are just about the suckiest ones out there. Revanchism will simply accelerate the trend. Russian "resurgence" is simply a dead-cat bounce.

Posted by: Cobalt Shiva at March 03, 2009 04:14 PM (+HE19)

Posted by: caicne at March 03, 2009 10:08 PM (8d+0+)

Posted by: Deety at March 03, 2009 11:00 PM (1jglO)

91

This motherfucker isn't even AWARE that his stupid fucking porkulus and budget is destroying our economy!!

He's aware. This is by design. The market must be destroyed to bring about "change". Its a feature not a bug (I keep using this line. I think I saw Instapundit use it). MARXISM, CATCH THE FEVAH!!

Posted by: Gen. Sherman at March 04, 2009 02:22 AM (blNMI)

92 This is the exact reason I proposed the Stock Targeted Financial Unification (STFU) plan on my blog.  Every time the Dems in Washington open their mouth, they cost my 401K plan about a months salary.

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