We can all relax now... the recession will soon be behind us as we head into a depression Last week, Senate Majority Leader Harry Reid and Speaker of the House Nancy Pilosi put together the finishing touches on their latest "stimulus" bill. This week, after putting off for three days the bill that could not wait, they'll place the revolting piece of trash result on President Obama's desk and I'm sure that on Tuesday (I'm sure the fact that media ratings are lower on Monday, because of the holiday, had nothing to do with them waiting till Tusday to sign this important bill that could not wait even one minute) he will sign it with all the pomp and cicumstance he is becoming known for. The $787 BILLION spending bill is already stinking up the joint with free money for the miscreants constituents and donors. It seems like Pelosi, Reid and Obama think they can end the crisis by blowing..... 1)Billions for the new 311mph train to shuttle vacationers between DisneyLand and Sin City, you know, Las Vegas, in Harry Reid's district. 2)$30million to protect a rat, a common vermin known as the salt marsh mouse, that infests Pelosi's district in and around San Fransisco. 3)$50million for the N.E.A so more "artists" like Serrano and Maplethorpe can take more snapshops of crucifixes submerged in piss, or guys with bullwhips jammed up their asses. In our "leaders'" defense, though not a single one of them actually saw all this TRASH before voting for this bill This crisis, after all, could not wait. The emergency was much too pressing! There was no time at all to let Congress, the media or the tax payer know what the hell was in the bill, or to analyze it, or to even THINK about it. Never mind the fact that 80% of it doesnt even get spent until 2010, 2011 and beyond. Never mind that the vast majority of independant economic experts - including the non partisan Congressional Budget Office - have serious doubts about whether the bills provisions will do anything AT ALL to help revive the economy. "Don't think! Don't Ask!" Obama shouted to the desperate and gullible voters in Fort Myers, Florida last week. "This is an emergancy! Demand your congresspeople take action!" And so it was, even with 70% to 90% of the letters, emails and phone calls from their constituents BEGGING them to vote "NO", our fearless leaders in Washington voted "YES" But Hey - I'm guessing your a "glass is half full" kinda guy or gal - so I'm pleased to report that there is a silver lining to this bill: It means we can finally bury Obama's hokey and grossly misleading campaign slogan "Change We Can Believe In", might as well throw that one into the same trash heap our economy is in. Judging by this bill, a much less misleading campaign slogan from the Obamiacs might have gone something like this: The Bush Agenda: Stay the Course! Because in the real world actions still speak louder than words. And if the Democrats' passage of this bill says anything at all, it's that despite what they may claim in public, President Obama and his accomplices in Congress obviously think the Bush doctrine of randomly throwing billions of dollars at this crisis was just friggin brilliant. Like the Republican president they so ruthlessly reviled, they clearly have come to the JENIOUS conclussion that if hitting your thumb with a hammer hurt like hell the first time you did it, the obvious solution is to quickly hit it harder, and with a MUCH bigger hammer. So..... When an explosion of private debt triggers a massive financial crisis Their only solution is to create an even greater explosion of PUBLIC debt. Which as sure as the sun will rise tomorrow, is already creating our next, even greater economic crisis even as you read this little rant I've put together for ya. Of course, this counterintuitive - and on its surface idiotic - approach might at least be defensible -IF Bush, Obama or anyone else in their respective adminstrations could point to a single time in all of the world's history that some cock a mamy plan like this actually worked. Unfortunatly, though, history strongly would suggest that the Bushama plan doesn't help, and not only does it not help it will in fact make matters MUCH WORSE by extending and deepening the crisis. After all: Bush threw trillions at the recession And 15 million American's are now unemployed, and nother half million or more are losing their paychecks each and every month. (half a billion if you ask Nancy Pilosi) FDR also threw trillions of dollars (measured in today's terms) at his own crisis - The Great Depression And 15 million good American's lost their jobs then, too- and the crisis only ended after ten long, hard years, when 12 million American's found new jobs, fighting Hitler and Tojo. Japan's leaders threw trillions of dollars at their housing crisis, credit collapse and deep recession in the 1980's and 1990's. And the economic crisis in Japan lasted even longer, crushing jobs and family finances for nearly TWO decades. What in the hell are they smoking out there in Washington, anyway? I don't know, but I sure hope they stop soon. The economy is teetering, the markets are in the worst shape they have been in for decades. We can not afford this lack of leadership we are suffering from. As traders and investors we have the option of stayin in cash. Right now I believe this is going to be our best investment. According to Morningstar only 5 mutual funds made money in 2008, and the average fund lost well over 30%. As traders we have a lot of flexibility. We can sit on the sidelines, with CASH in hand, and wait for better opportunities to come. Those better opportunities will come. No matter what type of stupidity comes from Washtington, there will always be companies out there who are doing inovative things and creating exciting new opportunities. Right now the entire market is being punished, but as things settle down we will be able to isolate them again and I'm certain that nice profits will be awaiting us again.
The only true justice in this would would occur if the FTC was to ride down in dark black SUV's to Congress and the White House and arrest every last one of them on charges of false advertising.
"lack of leadership" ? the american voters have given obama, pelosi and reid a strong mandate. the problem isn't lack of leadership, it's more a problem of what these idiots intend to do it will get real interesting when obama starts nominating supreme court justices. (hate to bring that up ... but better to be prepared for it)
I thought Gavin Newsom was the salt marsh mouse? Nevermind, I got him mistaken with the antichrist. Obama's a toaster struddle compared to this guy... mark my words, he is the devil.