Obama mocks your financial pain

Obama: Stock 'fits and starts' are normal reaction

President Barack Obama is comparing the stock market to the daily tracking polls used during campaigns, saying that paying too close attention to Wall Street's "fits and starts" could lead to bad long-term policy.

There is nothing, since the 'Great Depression' that would make Barack Hussein Obama's insane policies, and the market's reaction, "normal".

Taranto : 'Fits and Starts'

Not long ago, President Obama was warning of catastrophe if his so-called stimulus bill didn't pass Congress. Now that it has passed, and now that Obama has outlined plans for further massive expansions of government, the performance of the stock market has given genuine reason to fear catastrophe. The Dow Jones Industrial Average closed below 7000 yesterday, down by nearly 30% since Election Day. And suddenly the president is blasé...
...
The comparison to daily tracking polls is also inapt. Whereas those polls serve only a predictive function, stock values (and dividends, which are also plummeting) do measure real wealth.

Further, if a candidate's performance in tracking polls had been declining steadily for three months, surely it would be time to change strategy or drop out of the race. A 30% decline is a heck of a fit, and Wall Street hasn't had anything that can be called a start since before Obama's election.

Remember... Barack Hussein Obama refused to admit he was wrong about Iraq. Ever...

"Anybody gone into Whole Foods lately and see what they charge for arugula? I mean, they’re charging a lot of money for this stuff." -- Barack Obama

Now lets put that elitism into context

"We can't drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times ... and then just expect that other countries are going to say OK," -- Barack Hussein Obama

Tim Graham : How Wrong Can One Be? Pundit Claimed Obama the 'Grown-up' Would Calm Markets

As the Dow Jones dipped below 7,000, it’s worth remembering that formerly conservative pundit Andrew Sullivan (for a while with Time magazine, now with The Atlantic) touted how "grown-up" Barack Obama would restore calm in the markets.
...
After all the shilling for John Kerry in 2004 and Barack Obama in the last few years, the idea that anyone would think this man is a "conservative" at this late date, or a reliable pundit on anything other than sticking to the Chris Matthews line on Obama, is mind-boggling.

Media Bistro notes Obama is whining : White House Knocks Jim Cramer For Calling Obama Budget "Greatest Wealth Destruction By a President"

Cramer called Pres. Obama's budget a "radical agenda," adding, "This is the greatest wealth destruction I've seen by a President."

ROGER KIMBALL : The President, shock and awe, and Tertullian

Many people, I believe, have been stunned by the President’s behavior in his first weeks in office. It’s been a shock and awe performance. Historians of this period will look back in wonder: how ever did a new President waltz into office and, before he had even finished unpacking, extract $800,000,000,000 from taxpayers for for partisan spending programs?
...
The crucial thing to understand about that attack on achievement is that it is a histrionic, not an economic, gesture. Raising taxes on (while simultaneously cutting deductions for) top earners will not do much to improve the Treasury’s balance sheet. But it will cause pain among the affluent. It will also cause delight among the more than 43 percent of tax filers who pay no income tax. (Is that fair?

IBD : Propping Up Least-Productive 10% Is A Recipe For Economic Decline

...just as bad apples in sports tend to ruin chemistry such that total team performance declines, subpar performers in an office setting tend to worsen the performance of the most productive for wasting resources, all the while giving the productive an unworthy benchmark of success that allows them to become needlessly satisfied.
...
Moving to housing, the Obama administration plans to spend $275 billion in order to aid homebuyers who borrowed irrationally in order to buy that which they couldn't afford. Proponents of the plan suggest that this will be economy-enhancing. But in truth, efforts meant to cushion the failures of the bottom 10% of homebuyers will be economically retarding for turning the above-mentioned business logic on its head.

For one, it's well-known at this point that subsidization of mistaken investment ensures more of the same, and in shielding the profligate from failure, the government shields them from lessons that will help them not to fail in the future.

Failure is an excellent teacher, but those most in need of instruction will not be taught if the allegedly soft view of the housing problem prevails.

Less spoken of are the obvious problems that will result from keeping people in houses that in a free system, they couldn't remain in. For one, it's fair to presume that a certain portion of strapped homeowners live in parts of the country underperforming economically.

In this case, measures taken to keep them tied to a specific location mean that they will be less able to chase economic opportunity that exists elsewhere. In this case, both the individual and the broader economy suffer, thanks to housing serving as the proverbial ball and chain.

Gateway Pundit : More Hope & Change... Rahmbo Tied to $8.5 Million in Earmarks-- Obama Tied to $7.7 Million Earmark

White House chief of staff Rahm Emanuel is tied to 16 earmarks worth $8.5 million dollars in the Obama budget bill that is being debated in the US Senate this week.
...
President Barack Obama is tied to an earmark worth $7.7 million dollars in his budget bill.

Examiner : When will Obama 'get it' on earmarks?

As the nation faces its most severe recession since 1982, President Barack Obama apparently wants the American people to forget that he promised he would give them earmark reform if they elected him president, even if he had to go “line by line to make sure that we are not spending money unwisely.” It’s time for Obama to keep his promise.
...
Although the $410 billion bill contains nearly 8,600 earmarks totaling $7.7 billion, White House officials say President Obama will sign it anyway. Americans, Orszag says, should just “move on.”

Doug Ross : "We're Sorry" -- Obama voters express their regrets

Doug Ross : And for those still attempting to pin the market meltdown on various Republicans, I proudly present The Scariest Chart Ever.

Check out the following which shows the [dollar] amount borrowed by US banks from the Fed through Dec 2007...

Michelle Malkin : Obama’s sorry cultists

I’ve reminded you before of NYTimes’ columnist David Brooks’ boneheaded Ivy League ejaculations about the Obama administration.

Now, the once-enamored Kool-Aid drinker admits his cult leader is not the man he knew...

Michelle Malkin : New iPhone app: Bail-O-Matic!

I [Bryan Wills] am an iPhone developer and I created a free app called “The Bail-O-Matic: Responsibility Remover”. It is essentially a giant red button that says “BAIL ME OUT” on it. You can simply concentrate on something you no longer want to deal with and just hit the button. Seconds later (if you are a complete fool) you will find that you are no longer accountable for anything. It’s sort of like a “Magic 8-Ball meets the Big Red Easy button” i guess.

Althouse : "The administration is focusing now on rule number 12 of Alinsky's Rules for Radicals: Pick the target, freeze it, personalize it, and polarize it."

"Cut off the support network; isolate the target from sympathy; go after people, not institutions, because people hurt faster than institutions. Well, I don't hurt. I am not hurt by any of this. What this is, though, is cruel. It is cruel because it is a game of manipulation emanating from the Oval Office. It is an attempt to distract Americans from the destruction of their ability to earn a living. It is an attempt to distract you from your plunging economy. It is an attempt to distract you from your ability to save for retirement and to pursue happiness. See, honest face-to-face discussions and debates are fair. I gave a speech at CPAC on Saturday, televised my first national address, address to the nation. In that speech were not just illustrations of what's wrong with this administration and liberalism. There were solutions, solution after solution after solution, because conservatism is a solution. None of the things that I said in that speech are being repeated by the Drive-By Media which I knew would be the case, because face-to-face discussions and debates are not going to happen. Instead, Alinsky's Rules for Radicals number 12 has been employed: Pick the target, freeze it, personalize it, and polarize it."

After 9/11 the (D)emocrats howled, with MainStreamMedia assistance in widespread publication, about the damage Bush and his tax-cuts did to the economy because of a 400 point drop on the DOW. They of course refused to admit they were wrong when those tax-cuts drove the recovery and now implicitly admit he was right with claims to token-tax-cuts and "stimulus" packages that are so much window-dressing propaganda for their historically unprecedented theft of a Trillion dollars from America's tax-payers and children of those tax-payers.

Now it's normal 'fits and starts' when the DOW drops 50%, 7,000 points down from it's high...

Barack Hussein Obama and his party of the Ass can go to Hell.

Cross Posted at DANEgerus