Thursday, September 18, 2008
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"The Only Thing We Have Is Fear Itself"
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Posted by:
Hugh Hewitt at
8:29 AM
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Barack's address to the beautiful people of Hollywood --transcribed below-- should give even the most ardent Obamian pause. It is an incoherent ramble through a series of cliches, delivered to an audience of $28,500-a-plate swells. Continuing his "verge of the Great Depression" rift, Obama portrays an America that lacks only Seabiscuit and Jim Braddock. Taking their cues from their hapless nominee, Harry Reid breathlessly told reporters yesterday breathlessly that "No one knows what to do," and Nancy Pelosi pushed a sham energy bill through the House in an attempt to cover two years of inaction that led to $140-a-barrel oil.
Welcome to the Democrats, 2008: Lots of hysterical talk uncoupled to any action in the Congress they control, void of specifics about the future and smothered in fear. "Vote for us," is the summary, "even though we don't know what to do generally and won't do what must be done when it comes to drilling."
The Dems are acting as though a financial crisis is a cue to send in the community organizer with zero management experience outside of the massive failure that was the Annenberg Challenge.
A sinking Obama campaign has grabbed on to Wall Streets woes as a way of reinvigorating a tired brand propped up by increasingly silly rhetoric. But going Chicken Little is hardly the way to inspire confidence in the voters. Buried deep in the WSJ.com's account of the financial crisis are these graphs:
One pleasant mystery is why the crisis hasn't hit the economy harder -- at least so far. "This financial crisis hasn't yet translated into fewer...companies starting up, less research and development, less marketing," Ivan Seidenberg, chief executive of Verizon Communications, said Wednesday. "We haven't seen that yet. I'm sure every company is keeping their eyes on it."
At 6.1%, the unemployment rate remains well below the peak of 7.8% in 1992, amid the S&L crisis.
In part, that's because government has reacted aggressively. The Fed's classic mistake that led to the Great Depression was that it tightened monetary policy when it should have eased. Mr. Bernanke didn't repeat that error. And Congress moved more swiftly to approve fiscal stimulus than most Washington veterans thought possible.
In part, the broader economy has held mostly steady because exports have been so strong at just the right moment, a reminder of the global economy's importance to the U.S. And in part, it's because the U.S. economy is demonstrating impressive resilience, as information technology allows executives to react more quickly to emerging problems and -- to the discomfort of workers -- companies are quicker to adjust wages, hiring and work hours when the economy softens. European stocks closed higher, and futures are up. More bank consolidations are on the horizon and no doubt more very bad days for some stocks and general misery for the indexes are ahead, but oil is far off its highs and could be driven even lower with a serious commitment to exploration. Growth is slow but there hasn't been one negative quarter yet, much less two. The economy is growing, though slightly. And the McCain-Palin ticket is committed to a growth agenda and new energy supplies to fuel it.
On the down side, we do have an easily panicked Democratic nominee and a do-nothing Pelosi-Reid Congress held in the grip of special interests from environmental extremists to trial lawyers. Investors won't get their confidence back until they realize that the threat of a spasm of European-style socialism has passed with the defeat of Obama-whats-his-name.
You can't blame investors who are eyeing oversold stocks for parking their money anywhere but corporate America with the prospect of Obama-Pelosi-Reid and their agenda of massive tax hikes and huge new spending programs in the offing. Read the, er, "speech" below and you'll figure out why serious investors have to be concerned. The barely disguised radicalism of Obamanomics is part of the market melt-down, and Obama's gig fade will be part of its recovery.
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and hear her. I'll exploit the nefarious talents of Missus Neo for using stealth, cunning, cuteness & adorability to shepard me through to the front. Hey, I've watched her do it with Big League players for years.
I've never seen 'W', whom I love & respect hugely. I saw Reagan throw the opening ball out at the '91 Season Opener at Dodger Stadium. Ronaldus Magnus looked magnifcus in jeans, boots & jean jacket. Before that, McGovern several times in '72 and Bobby Kennedy many times in '68. Saw--up close, at length--President Kennedy in late September '63 in Washington at a duel convocation of my college(Freshman)and our crosstown rivals. Two months later the President was dead and the "50s" were over. |
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NeoConScum writes: Saturday, September, 20, 2008 5:42 AM
COOL, Arch !
Hope that the Minx & me can do the same before the close. The kind of Heat you saw being generated by Sarah will, I have no doubt, be channeled nicely into Flap-Jaw Joe's tummy at the VP Debate soon. Hope our Babe wears her pretty hair down(as she did for the Hannity interview..)and trounces him. Ya got IT, Use It!
Arch says'
Neo. Palin was very impressive. She is definitely a people magnet. Speaks right from the heart and you can tell. I have seen and heard a lot of politicians selling their wares and Palin is one of the best. Hope you and the missus get to see her do a live speech and shake her hand. This woman is going places . I recommend that you not do as I did and push through the crowd. It was very tiring for old bones! |
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Hope that the Minx & me can do the same before the close. The kind of Heat you saw being generated by Sarah will, I have no doubt, be channeled nicely into Flap-Jaw Joe's tummy at the VP Debate soon. Hope our Babe wears her pretty hair down(as she did for the Hannity interview..)and trounces him. Ya got IT, Use It! |
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I was in attendance of the McCain/Palin stopover at the Anoka Mn. airport. I had to push my way through many thousands to the front and got to shake Palin,s hand and shout to her that she had my support. This crowd was more intense than GW ever generated when he campaigned in this metro area. Palin generates energy in the audience and speaks with authority and genuine connection with the people. She is no poser or fraud like Obammy. She is a true representative of the people. Reminds me of Reagan in the way she lays out her points of politics. McCain was good but I still wish he were not the nominee. He has thrown enough bones out for me to support him though. This will be the winning ticket in November so we better get used to it! |
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dence of this Republican coming apart thingy. I keep seeing mounting evidence that looks like a brewing train wreck on the Demo side. But where, oh offendi, is that happening to our side? Morbidly curious. Colorado, Ohio, Montana, Wisconsin, Pennsylvania are going Red. They're all showing "margin of error" closeness, ALL of which plays to our side, not yours. Did you see any of Bazama off prompter in Florida today?? Seems some Black Guys were protesting against His Majesty and it threw him, big time. They ain't s'postuh do that, are they?! |
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no enemy list, darlin'. That's a Nixon Republican thing. But, I would be proud to be a Friend of Obama.
Wow. Watching the Republicans unwind is something. They are going down in spectacular fashion! |
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thanks, kindly,
It is a big mistake to compare Obama to Carter. He is worse, he will gradually use the government to become a kind of benevolent dictator, ala Woodrow Wilson. You do not want to be on Obama's enemy list. |
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Regarding Rush,
They made a big mistake, His article in the Wall Street Journal, OPION, explains the whole truth, and well said.
Rush, cannot be smeared. 20 million listeners! Obama's big mistake.
Rush is not a big McCain backer, but with this kind of attacks, they just awakened a giant. Now, Rush, will be Rush, and Obama will be taken to task!
Soro, just now caused to cancel invitation of Sara Palin to an event that was, to support Israel, and rally against Iran's aggression.
Sad, Sara Palin has been great ally of Israel, I am really upset, and this once publicized will backfire to that organization, and the evangelical groups who support Israel will not take it kindly, this is just not good PR move. Soro, has never cared for the good of Isreal, or this nation.
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MaryStella writes: Thursday, September, 18, 2008 2:12 PM
K.G.,
They are not in Office yet, and telling , they will be taxing us!
What happens, when they are in majority and full power?
We have to go back and look to FDR, and Woodrow Wilson, era. It is a mistake and very NAIVE to compare Obama to Jimmy Carter.
Woodrow Wilson, first went to the Supreme Court trying, to throw people who did not agree with him to prison, when the Supreme Court did not agree, he tried to change the Court.
Woodrow Wilson, put anyone to jail if they did not agree with him (i.e. they were against the war), he took things out of context at will (as Obama commercial ads are doing now), and imprisoned people.
This, will be Obama's government, if you disagree, you are unpatriotic, or worse, if disagree, accuse you of racism.
Mr. Obama's thugs follow the rules of Saul Alinsky, "Rules for Radicals."
All means of thuggishness is fair, if goal is achieved.
Arch says'
Mary. You are so tuned in to what is happening. Genius!! Speak loudly and carry a big stick!! |
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dudley writes: Thursday, September, 18, 2008 6:21 PM
by the way
Rush said every word. He couldn't wait to attack Mexican citizens.
Arch says"
You didn't even listen to Rush's show today Moron!
Rush played the entire radio clip of his rant and you libtards have it all wrong as usual. Taking speech out of context and slandering and duping people is right up your alley of deceit and lie to win. You are all right with this, Dudley? |
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Rush said every word. He couldn't wait to attack Mexican citizens. |
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to have the USA government, SAVE you from disaster, Republicans? SAVE your sorry butts..
Obama time! |
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Speaking of thuggish behavior, have you been listening to Rush and the revelations of the HORRIBLE lies that Obama is putting forth on Spanish TV?
Ugly, despicable. This creep Obama must be stopped.
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...and fired Cox today.
Steve C Conlon |
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They are not in Office yet, and telling , they will be taxing us!
What happens, when they are in majority and full power?
We have to go back and look to FDR, and Woodrow Wilson, era. It is a mistake and very NAIVE to compare Obama to Jimmy Carter.
Woodrow Wilson, first went to the Supreme Court trying, to throw people who did not agree with him to prison, when the Supreme Court did not agree, he tried to change the Court.
Woodrow Wilson, put anyone to jail if they did not agree with him (i.e. they were against the war), he took things out of context at will (as Obama commercial ads are doing now), and imprisoned people.
This, will be Obama's government, if you disagree, you are unpatriotic, or worse, if disagree, accuse you of racism.
Mr. Obama's thugs follow the rules of Saul Alinsky, "Rules for Radicals."
All means of thuggishness is fair, if goal is achieved.
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"I am personally look for a buying opportunity outside the mortgage and housing market."
On Oct 19, 1987 I could not get through to Fidelity to buy some shares in a few companies a very good trader told me to buy. Being primarily a futures trader and a member on an exchange, I purchased 6 futures S&P contracts when the DOW was down 10%. At the low, despite well over $250,000 in my account, I got a phone call telling me I was being liquidated as the small firm by today's standards had just had their lines of credit frozen.
I am not saying that will happen at all. I'm just illustrating that trading during these times in uncharted waters can bring about actions we might not anticcipate.
In 1987 the FED absolutely was manipulating futures when the triggers that stopped trading for 30 minutes (I believe it was 30 minutes) were hit.
Anything can happen here. If we went down 1000 in a day we might be closed the next day. Although that would likely be used to lift the market in overseas trading to stop the hemorrhaging.
I have told a few friends that whatever they are thinking of, do half.
Steve C Conlon
http://www.stevecconlon.com
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..UNproductive black whole of government. |
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Yeah, Biden makes sense: Pulling billions of productive $$ out of the economy and sending them down the productive black hole of the government.
This whole fiasco is ready-made for Sarah Barracuda--if she's up for the job. Let's see what ya' got, girl.
BTW: Johnson, Raines and Emmanuel are the new Wright, Fleger and Ayers.
And I quite agree: Anybody that thinks lib government is a good idea only need look at Cacafornia--going down the taw-let.
Is help on the way? No, it's not. Sob sisters, feeling sorry for the Indians, voted for tribes to have sweetheart gaming deals (read: mob-controlled gambling). Now Indian gaming is the wealthiest lobby in CA and will elect Jerry Brown (brown being the color of caca, BTW).
Now would be a good time to hang on to your God, your guns and your gold.
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The Central banks worldwide reached into its bag of triccks today and the DOW was up over 200 points at one time. It is up 19 points as I post this. If it goes below unchanged with today's Fed action and stays lower for a while, it will atract selling. It's just the way psychology works and people who are long (purchased) stocks will be looking at another losing day.
The more worrisome part is what happens if/when new buyers put their hands in their pocckets and decide to sit it out for a few days. "Catching falling daggers" is not a smart business plan. IMO, anything bought now should be in moderation and for the long haul, and surely with a stop-loss order in where if the investment is down 20% you exit. Accepting those terms ahead of time is the only way to pick a bottom. If you cannot live with a plan, I would remain in cash until we know there won't be a bank holiday one day.
Steve C Conlon
http://www.stevecconlon.com |
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be patriotic:
“We want to take money and put it back in the pocket of middle-class people,” Biden said in an interview on ABC’s “Good Morning America.”
Noting that wealthier Americans would indeed pay more, Biden said: “It’s time to be patriotic … time to jump in, time to be part of the deal, time to help get America out of the rut.”
The key words there are "We want to take money." That about sums up leftian philosophy. And making corporations pay their "fair share" is a crock. Corporations don't pay taxes - consumers do. Having been a guv-mint worker, I'm here to tell you the last thing you want to do with an economy trying to climb out of a hole is give more money to the guv-mint. Kiss it goodbye instead and flush the toilet. Heir ins ze Peeples Republick von Cullyforjna, our guv-mint can't figure out how to budget without breaking the freakin' bank and we should trust these fools with more? |
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Mc Cain/Palin should tag Obama with his friends and mentors over his last 20 years, despite his now "denials" of being friends and mentors. Mention Ayers,Plager,Wright,Rezko, the ACORN, and any others I've overlooked, make it a mantra repeated over and over. Oh and don't forget michelles 200,000 increase in salary after the earmark for the hospital she worked for. sheesh |
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From Jan 2004 to Jan of 2006 we had the DOW in a range from 9750 to 11,000. We are now in that masssive support range. I will not hazard (as that's what it will be) a guesss as to whether it will hold in here. If it does not, one can expect to see a test of the March 2003 low around 7500.
The word of the week is "deleveraging" which essentially means selling the crap they have owned on the books at an inflated price. What remains to be see if whether when they open the door, they all take the wall down with it. Having been a professional trader on Wall Street for over 25 years I learned to never tell the market where it must go or when it must stop.
The Fed has known of these issues since they looked under the waterline at Bear Stearns and screamed,
"ICEBERG." They should have acted quicker, IMO, to get these firm to get themselves in order.
Anyone remember Arthur Anderson, one of the "Big Eight" accounting firms? They said Enron's books looked fine. Both went out of business shortly thereafter. The problem in the market is lack of transparency and fear of who might be hiding issues.
Steve C Conlon
http://www.stevecconlon.com |
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This is a job for...Super Telepromter Man! |
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You don't have to limit yourself to the failure of Obama's stewardship of Annenberg challenge programs to demonstrate the Senator's fiscal ineptitude. You can also use the $360,000-$468,000+ he overpaid for his house as evidence:
http://tinyurl.com/4342t7 |
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pat writes: "Obama will 'Cry Present and Let Slip the Dogs of Woe!'"
Great Line! Captures Obama perfectly.
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offer me if he becomes POTUS? Higher taxes? More government control? Less personal freedom? A weakened military? More dependence on foreign energy? The possible legalization of infanticide? The elimination of traditional marriage? A divided America?
Are the above what Barry O is offering America?
That is what he comes across as offering. Can anyone demonstrate that the above is not his agenda for America? |
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but I am not sure that his campaign could be classified as sinking. His polls are steadying.
Unfortunately, people do not seem to care about his thin resume, his association with terrorists and con-artists, and his determination to lose the war in Iraq. |
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You mean "riff."
Something repeated over and over.
You know, like "drill drill drill." |
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I am personally look for a buying opportunity outside the mortgage and housing market. Right now the mortgage and housing market problems may artificially depress other healthier parts of the stock market below their real worth. There will be a time to buy is when others are desperately selling. |
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