Regards,
Peter H.

Regards,
Peter H.

1) Jawboning alone (Fed and President) can cause markets/prices/speculation to significantly fluctuate within 5 minutes

Alrighty, then. Kindly explain what Obama has been doing to jawbone the price of gas *up*, in a world of falling or at least zone-traded crude oil prices. (Crude oil did go up today, I believe.)

Obama has been consistently negative about the economy, repeating that it’s going to get worse before it gets better. How can this do anything but drag the economy?

Mmmm, no, that’s not it. That should jawbone gas prices downward (i.e., bad picture on the demand side).

Amendments to the Constitution cannot be done by “executive order,”

Peter, with the greatest respect and friendship, I am gonna slightly defend Iggy on that one; I believe he intended sarcasm.

Pull up a graph of the Dow Jones Industrial Average from May 6, 2008 to Nov. 20, 2008, and note the following dates of Barack Obama’s ascension: May 6 (he took the permanent delegate lead in the Democratic primary over Hillary Clinton), Sept. 19 (took permanent lead in national presidential polls over John McCain), Oct. 12 (divulged his “spread the wealth around” socialist agenda to “Joe the Plumber”), and Nov. 4 (Election Day).

Over that period, the Dow Jones lost 42% of its value. The loss after May 6 was gradual (-1,633 points in 4.5 months) as his primary victory became apparent in a Democratic year (Bush was unpopular.) The loss after Sept. 19 was steeper (-2,937 points over 3 weeks) because McCain was the final roadblock. Unlike in the primary, after Sept. 19 no one stood between Obama and the presidency.

However, the day after “Joe the Plumber,” the market jumped 937 points, on the optimism that the revelation of his socialist agenda might still lead to his undoing (+1,174 points over 3 weeks.) And, of course, the market tanked after Nov. 4, when he was elected (-2,073 points over 2 weeks.)

From May 6 (13,021) to Nov. 20 (7,552) = -5,469 drop.

Obama caused this recession. He owns it. It’s his.

And now he tells us that he is going to spend our way out of poverty with his 2009 Death To America Drunken Sailor Spendathon. Just like a family in debt would buy a Ferrari, a vacation to Ibiza, a set of Gucci luggage, a pedigree dog, and a new flat screen tv, to spend their way out of poverty too.

Therefore, when he emphasizes how much the economy has been ruined, he’s talking about how much he ruined it.

It’s The Obama Bust.

Amendments to the Constitution cannot be done by “executive order,” not even repealing them. For instance the 18th Amendment (Prohibition) was passed but it took the 22nd Amendment to repeal it.

Instead, the legislation must pass a 2/3 vote in both houses of Congress and 3/4 of all states need to ratify it. It does not in any way go to the White House at any time during the ratification process.

Try again.

Regards,
Peter H.

1) Jawboning alone (Fed and President) can cause markets/prices/speculation to significantly fluctuate within 5 minutes. Obama has been consistently negative about the economy, repeating that it’s going to get worse before it gets better. How can this do anything but drag the economy? Bush and the GOP cannot be blamed for something so ignorant as Obama’s publicly covering his ass in order to 1) be correct if the market continues to slide or be positively surprised if it quickly rebounds; 2) reap the future political benefits of an upward market cycle (even though his recent spending binge makes that less inevitable).

2) Our current volatility is, I assume, in part due to technology because trading can be done instantaneously in response to such information. The days of steady, reliable, aggregate market changes are over.

There is a glut of crude on the market. There are loaded tankers at sea waiting for prices to rise. Adding oil production here (a good idea) wouldn’t lower fuel prices.

Also, he signed his name to it today so he owns it lock, stock and barrel. Or in liberal pussy terms: granola, soy and edemame.

Bush and Congress have been laying rail for this train wreck for years. The economy is just too big to turn on a dime. Blaming this on Barry is like blaming the 81-82 recession on Reagan.

That being said, Barry and Congress are pushing this train down the hill as fast as they can.

Question: from an economic standpoint, are we headed towards socialism or fascism? Socialism is ownership by “the community”.

It seems like the gummint wants to tell the private sector how to operate.