Is It Amateur Hour at Our Darkest (Economic) Moment?
BY: NCVIKING
Announce $2 trillion TARP program? Stocks plummet. $800 billion Porkulus? Dow drops hundreds of points. Bailout for foreclosures? Traders get livid and a reporter goes on a rant. Obama’s new budget? Markets quake. Now Jim Cramer of Mad Money fame on CNBC ponders if it is amateur hour at our darkest (economic) moment.
“Until the Obama administration starts listening, until they start paying attention to what you’re watching – to the stock market, until they realize that their agenda is destroying the life savings of millions of Americans – then all I can give you is caution.”
“I just want some sign that Obama realizes the market is totally falling apart and that his agenda has a big hand in that happening.”
“I felt the total lack of control that we all feel right now. It’s out of my hands, the ‘where’s the authority’, the ‘hey it’s amateur hour at our darkest moment’. It’s the feeling of capitalism vanishing.”
The cult of Obama may start getting buyer’s remorse if this keeps up.
Peter Morici, a top economist at the University of Maryland, slammed the Obama Administration saying it needs to “listen” to the markets.
“Obama’s plans to raise taxes — while we can discuss the merits of who should pay taxes and how income should be distributed — is very wrong-headed at this time. Timothy Geithner’s financial stability plan scared the market. Obama’s stimulus plan scared the market. And now Obama’s budget has scared the market. The Obama people should understand what Bill Clinton learned, to listen to the markets. They’re a good sounding ground for what you’re proposing.”
Whatever Obama’s plan finally produces, it is clear right now that the sounding ground of the markets don’t like it at all.
Here is the video of Cramer:
- Economic Crisis of Confidence - February 8th, 2010
- Cato Analysis and Fact Check of SOTU Speech - January 28th, 2010
- State of the Union Déjà vu? - January 26th, 2010
- Purple Predestination - January 25th, 2010
- Prince Composes New Vikings Fight Song (Oh Yes He Did!) - January 22nd, 2010
He is absolutely right! It is amateur hour. But, they are making it our darkest hour. It doesn’t have to be this bad, but Obama is doing it to us. His actions give the perception he doesn’t care or is doing it intentionally.
And…there is a lot of buyer’s remorse. There is a lot trouble already. With Obama’s policies, things are not going to improve economically, so things are going to get worse in many areas of our society.
http://franklinslocke.blogspot.com/
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