Monday, August 8, 2011
The Rule of Obama the Stupid - Obama Votes Present Again As the Dow Plunges More Then 600 Points
By Nicholas Contompasis
In the spring of 2009 just after President Obama's inauguration, Wall Street digested the new administrations policies and decided to send him a message, market selloff!!!
That selloff resulted in the layoff of millions of American workers and a Dow Jones Industrial Average hitting in the upper 6,000 range.
This message was heard loud and clear, but not by our new socialist President and congress. It was heard by the American people, thus the birth of one of America's fastest growing and influential grass-root political movements, the "Tea Party."
Nearly two and half years later America seems to be at a similar crossroad and after todays appearance of our President on national TV, he still isn't listening.
His folly of continually ignoring basic economic principals, financial markets, financial rating agencies and most of all the American people, leads most to believe that his days in office are not long.
The selloff of equity markets over the past two weeks is now an event that he now owns. He attempted over the weekend to shove off the debt downgrade onto the Tea Party with no real effectiveness. The American people aren't stupid, they know when they're being lied too, finally!!!
With the Dow closing down over 600 points today, there seems to be no end to this massive selloff that is starting to wear on the Presidents face as illustrated in todays appearance.
The market's reaction to the President's statements today sent it down further indicating a lack of leadership and ability to correct the fundamental problems plaguing government's massive spending.
The markets know they have the ability to send subtile messages to government, but they also realize they cannot destroy themselves while delivering it. Selloffs like the one we are experiencing must come to an end to save the sector and to effectively make the point, "we want no more of this."
But, it was obvious by the Presidents remarks today that he was not backing off from his position and that America was in for a long hard fought battle with a man that is hell bent on destroying the economic system that has made America great, given all Americans the opportunities for a better life and longevity of personal freedoms never experienced by any people in recorded history.