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Obama's Economic Train Wreck Gathers Speed

 
DaJavoo
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03/10/2009 02:50 PM
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Obama's Economic Train Wreck Gathers Speed
Obama's Economic Train Wreck Gathers Speed
Gerard Jackson [link to www.silverbearcafe.com]

It's becoming increasingly clear to market players that Obama and his merry band of economic vandals are completely clueless about economics and the role of markets. These people are purely political. For them, economics is simply a matter of tax, spend and regulate. The thought that their economically and socially destructive policies could also rip the electoral ground from under them has yet to materialise.

They are trying to rule the US the same way that Chavez is ruling and ruining Venezuela. Not because they idolise that swaggering ersatz Castro but because they largely share the same mindset. This is why their first response to criticism is not to debate the issue but to demonise and destroy critic. In this they have the enthusiastic support of America corrupt mainstream media.

Only intellectual arrogance married to economic illiteracy can explain Obama's blase attitude to market conditions. This is why he pompously announced:

What I'm looking at is not the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing. And, you know, the stock market is sort of like a tracking poll in politics. You know, it bobs up and down day to day. And if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong.

It completely escaped him that it's "not the day-to-day gyrations" that matter but the trend -- and the trend is inexorably downward. Investors looked into Obama's crystal ball and they don't like what they saw: more spending, more government, more bureaucratic empires, more costly regulations, more union control, more taxation, more assaults on energy production. The economic consequences of this massive intervention will be severe, and they know it.

Even so, the vast majority of Americans are still unaware of monumental costs of this program. The American Institute for Economic Research estimates that Obama's spending and bailout program will cost US taxpayers $8 trillion. And Mr Hope and Change still has more spending projects on line.

The whole damned monstrosity is anti-growth and no amount of covering up by his media and academic stooges can hide that fact from the markets. It is as if Obama and his crew have deliberately adopted a policy of squeezing the economy "until the pips squeak". It is this policy of economic vandalism that fuels the bear market, as indicated by the chart below, not the recession.

It's true the market was heading down before Obama was elected. It is also true that the downward trend steepened once it became odds on that he would be the next president, proving once again that markets have fare greater foresight than political pundits and media cheer leaders.

So how low, for example, can the Dow go? On 6 March it closed at 6,626.94. It was 13,000 last May, a drop of 49.02 per cent. Share prices fall in a recessions because earnings fall. Because markets are forward-looking they factor anticipated earnings (discounted) into current share prices. It follows that the lower future earning will be the lower will be share prices and the same goes for the price-earnings ratio. Moreover, the longer markets expect a recession to last the longer it will take share prices to recover. When we consider that the Obama stimulus package is really an anti-recovery policy I think it is quite possible that the Dow will fall to 4,000 or even lower and remain there for sometime. Obama's response to this dismal picture was to tell Americans:

Profits and earning ratios are starting to get to the point where buying stocks is a potentially good idea.

Markets do not require investment advice from a man who thinks a firm's profits equal the price of one of its shares. Even if he understood the P-E concept it would not justify his rosy recommendations. At the moment I believe the average P-E is about 12 as against the historical of average of 14. Given the market trend and Obama's assault on profits and investment, the 12 figure strongly suggests that the P-E still has a long way to fall. Perhaps this why the markets chose to ignore President Obama's investment advice?

Unfortunately Obama's attack on economic reason is not all that Americans should be worrying about. To all intents and purposes Bernanke has abandoned control of the money supply. From last August to January Bernanke allowed the monetary base to explode by about 112 per cent, raising it from $0.8 trillion to $1.7 trillion. The chart below reveals the dangerous monetary trend that has been creeping up on America for decades. The last bar on the chart clearly indicates that if the past trend is adhered to a massive monetary expansion is in the pipeline. (See chart at link...)

This is a reckless monetary expansion by any measure and one designed to increase bank lending. Without lending by the banks Bernanke's monetary policy, including his negative interest rate policy, will be doomed. This view is strengthened by the fact that during the same period AMS grew by 20 per cent, which means banks have actually been lending.

I believe that markets would be correct in predicting that the US is heading for highly inflationary period. Although this is bad enough, we find that at the same time as expanding the monetary base Bernanke undertook to underwrite mammoth foreign exchange risks that would normally have been shared with the Treasury on a 50-50 basis. It's looking more and more like Bernanke is over from the Treasury in order to advance Obama's agenda. A shrewd move from Obama's angle as the Fed is not normally held politically accountable.

Part of Bernanke's monetary plan appears to be one of reducing the money supply once the economy gets moving. However, some observers believe that Bernanke's feckless monetary policy has seriously weakened the Fed's capacity to exercise the necessary monetary restraint. It's neither here nor there, even if this were not the case any attempt by Bernanke to reduce the money supply if the economy got moving would be bound to reverse the recovery.

(Rightly or wrongly, I am of the opinion that Bernanke is a Democrat first and an economist second. The consequences for the economy will not be pretty).

No matter how bad the situation gets it will have no effect on Obama's Leninist-like supporters in the media. These are politically motivated pathological liars for whom reason is an obstacle to happiness, governed as they are by magical thinking. Then again, a good economic lancing (figuratively speaking) might bring about -- for some of them at least -- a remarkable change in perspective.

DJmsmtold
:DJrebelli:
Anonymous Coward
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03/10/2009 02:57 PM
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Re: Obama's Economic Train Wreck Gathers Speed
Foxes in the henhouse.
Anonymous Coward
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03/10/2009 03:01 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.
Anonymous Coward
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03/10/2009 03:04 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.
 Quoting: Anonymous Coward 631858

Example:
Dr. Obama, the patient is bleeding!

Dr. Obama: Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!...................
Sinanju
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03/10/2009 03:05 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.
 Quoting: Anonymous Coward 631858


>>It is easy to blame him.. the stock market drop has DIRECTLY coincided with his candidacy. Hell, his inauguration yielded the GREATEST drop in the DOW in the history of the Presidential inauguration.
Anonymous Coward
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03/10/2009 03:05 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.

Example:
Dr. Obama, the patient is bleeding!

Dr. Obama: Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!Stab him again!...................
 Quoting: Anonymous Coward 473060

bump
Mr. Predictor
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their mission is accomplished

the government won the last election

oridin
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"The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." - Winston Churchill
Omega

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03/10/2009 03:08 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.


>>It is easy to blame him.. the stock market drop has DIRECTLY coincided with his candidacy. Hell, his inauguration yielded the GREATEST drop in the DOW in the history of the Presidential inauguration.
 Quoting: Sinanju 627176


Essentially correct. No new president stock market rally. Unheard of....watch what happens next....
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
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Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
The Jurist

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03/10/2009 03:09 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.
 Quoting: Anonymous Coward 631858


putin Oh my, another one that does not understand the plan.
`
(Be) Divide(ed) and (be) Conquer(ed)...

Don’t listen to what they say, watch what they do.

~There is Tranquility in Ignorance, but Servitude is its Partner. —me
~What luck for Rulers that Men do not Think. —Adolf Hitler

:damned: Doom is optional. There is good news abounds.
Anonymous Coward
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03/10/2009 03:12 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.


putin Oh my, another one that does not understand the plan.
 Quoting: The Jurist


I dont understand the plan. What is the plan? Dude I am a veteran that served this countty. Proudly.
Anonymous Coward
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03/10/2009 03:13 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.


>>It is easy to blame him.. the stock market drop has DIRECTLY coincided with his candidacy. Hell, his inauguration yielded the GREATEST drop in the DOW in the history of the Presidential inauguration.


Essentially correct. No new president stock market rally. Unheard of....watch what happens next....
 Quoting: Omega

Omega I really respect you. You have given some good advise to new gun owners, but what is next?
Ragman

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03/10/2009 03:15 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.


>>It is easy to blame him.. the stock market drop has DIRECTLY coincided with his candidacy. Hell, his inauguration yielded the GREATEST drop in the DOW in the history of the Presidential inauguration.


Essentially correct. No new president stock market rally. Unheard of....watch what happens next....

Omega I really respect you. You have given some good advise to new gun owners, but what is next?
 Quoting: Anonymous Coward 631858

Goofy Thum
The Jurist

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03/10/2009 03:24 PM
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putin Oh my, another one that does not understand the plan.


I dont understand the plan. What is the plan? Dude I am a veteran that served this county. Proudly.
 Quoting: Anonymous Coward 631858

It is not really your fault. They really did a job on everyone. You may want to see these threads to learn a bit more:

HYPERINFLATION GUARANTEED SOON Thread: HYPERINFLATION GUARANTEED SOON ~ Federal Reserve Employee Under Geithner Spills Guts

Department of Education is Deliberately Making Dumb Americans Thread: Department of Education is Deliberately Making Dumb Americans

Human Capital Thread: Human Capital

World Citizen = World Communisim Thread: World Citizen = World Communisim

Also see this site [link to www.notmygovernment.us]
`
(Be) Divide(ed) and (be) Conquer(ed)...

Don’t listen to what they say, watch what they do.

~There is Tranquility in Ignorance, but Servitude is its Partner. —me
~What luck for Rulers that Men do not Think. —Adolf Hitler

:damned: Doom is optional. There is good news abounds.
DaJavoo (OP)

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03/10/2009 03:39 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.
 Quoting: Anonymous Coward 631858



Uh...R-E-A-D the article? The policies that are being jammed down our throats and rammed up our asses are exactly the WRONG things to stimulate growth.


DJobigadv
:DJrebelli:
DaJavoo (OP)

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03/10/2009 03:41 PM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.


putin Oh my, another one that does not understand the plan.


I dont understand the plan. What is the plan? Dude I am a veteran that served this countty. Proudly.
 Quoting: Anonymous Coward 631858


Picture might be worth a thousand words in this case:


DJobnwo
:DJrebelli:
DanG
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03/10/2009 03:42 PM
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aww, and just HOW did you brainless turds think the OIL WARS
were going to be paid for ??


idiots


DaJavoo (OP)

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03/10/2009 03:55 PM
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Re: Obama's Economic Train Wreck Gathers Speed
aww, and just HOW did you brainless turds think the OIL WARS
were going to be paid for ??


idiots



 Quoting: DanG 585146



There's ALWAYS money to fight a war ~ Rothschild's.
:DJrebelli:
DaJavoo (OP)

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03/11/2009 08:02 AM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.


>>It is easy to blame him.. the stock market drop has DIRECTLY coincided with his candidacy. Hell, his inauguration yielded the GREATEST drop in the DOW in the history of the Presidential inauguration.


Essentially correct. No new president stock market rally. Unheard of....watch what happens next....
 Quoting: Omega



Catch Trinity's thread...


Global Systemic Geopolitical Dislocation


[link to www.godlikeproductions.com]
:DJrebelli:
von doom
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03/11/2009 08:11 AM
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Re: Obama's Economic Train Wreck Gathers Speed
How can you blame Obama? He has been office only 2 months. Judge the man by his fruits and it way too early for that. I did not vote for him but I am willing to give him a chance. Listen, this thing was fucked up long before Obama got there.


>>It is easy to blame him.. the stock market drop has DIRECTLY coincided with his candidacy. Hell, his inauguration yielded the GREATEST drop in the DOW in the history of the Presidential inauguration.
 Quoting: Sinanju 627176

All Obama did was re-engage the stock market with reality.

All you whiners obviously prefer the 8 years of lying, deception, and chronic manipulation.
Anonymous Coward
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03/11/2009 08:31 AM
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Re: Obama's Economic Train Wreck Gathers Speed
In case the republicans forgot (again), it was G.W. Bush who destroyed America.
DaJavoo (OP)

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03/11/2009 08:44 AM
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Re: Obama's Economic Train Wreck Gathers Speed
In case the republicans forgot (again), it was G.W. Bush who destroyed America.
 Quoting: Anonymous Coward 580244



It goes back a lot further than Shrub...
:DJrebelli:

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