It’s a Bull! And What a Lot of Bull It Is

Jeff  Carter
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Posted: Oct 29, 2011 12:01 AM

The market is looking pretty nice. The Dow finished up today after a massive relief rally yesterday. S+P looks good too. ($SPY, $ES_F)
 

A lot of commentators in the media will pin the rally on Obama. But frankly, the break wasn’t about Obama and neither is the rally. It’s all Europe. Obama’s policies have hurt the market more than helped, and this months rally isn’t indicative of them.

Over the weekend, you will hear a lot of crowing on the liberal mainstream networks. Paul Krugman will start dancing a jig.

SPDR S&P 500 Stock Chart

SPDR S&P 500 Stock Chart by YCharts

President’s and governments don’t create jobs. They create a climate for entrepreneurs and companies to create jobs. The measure of Obama is the marginal rate of change of the unemployment report over his term.


US Unemployment Rate Chart

US Unemployment Rate Chart by YCharts

Obama has performed abysmally because his policies haven’t created an environment where business wants to become more productive by hiring more employees.

People are frustrated. Obama’s actions today via executive order are meaningless. He authorized an agency to create a website….whoa. That’s out of the box hope and change pragmatic thinking?

They told me if I voted for McCain there would be Hoovervilles. I am beginning to think the Occupy Wall Street campsites resemble Hoovervilles. Maybe Obamavilles?

Links:

Incentives matter. After WW2, southerners moved north because that’s where the money was. Now it’s south of the Mason-Dixon line

Yeah! Europe is done. Or is it, Europe is done meaning stick a fork in them?

Sometime being a contrarian pays. But it takes deep pockets and patience.

It happened in Jack Ryan’s Illinois Senate Race with Obama. Dirty Tricks. The Democratic Richard Nixon.

In case anyone still thinks the Tea Party is like OWS, in Richmond they are spending 10G to demonstrate.

I am getting old. WTF.

If you are under the age of 40, and thinking about an MBA, it’s a good discussion to have with yourself. However, I don’t think that you should pay a lot of money for a “top” school in the middle of a recession. The reason is the tuition at the top schools are going up, but the value placed on the degree is going down.

I enjoyed my time at the University of Chicago, but would I pay 148k for it today? Probably not. The opportunity cost is way too high.

I have listened to discussions of, an occasionally weighed in on the costs of education. One thing struck me as odd. The Democrats and many Republicans want to spend more and more on education, yet we get less production from that spend. Additionally, there seems to be no restrictions on the subsidies to education-and the costs go ever higher. The Obama administration has gone out of its way to try and demonize banking, health care companies, oil companies, and other for profit companies. It hasn’t commented at all on the skyrocketing costs to get a degree-and has instituted more subsidies to make those costs go higher. College is non profit.

Ironically, the only educational system the Obama administration has gone after with the bully pulpit, for profit education.

Think about that.