Posted 8 months, 21 days ago in 
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Let me get this straight. On March 3, 2008 the Dow was at 12,258. On Sept. 21, the day Congress passed President Bush’s idiotic $700 billion bailout, the Dow was at 11,015. On Nov. 4, the day President Obama won the presidential election, the Dow sat at 9,625. Jan. 20, 2009, Inauguration Day, the Dow was at 7,949. And on March 2 of this year the Dow sat at 6,763.
So the Dow is down 45 percent over a year ago. But more astonishing is that it is down 30 percent since Mr. Obama was elected and 15 percent since he was inaugurated. Why? I thought he was to bring “hope” and “change.”
Here’s the reason why. The market has responded to his, Nancy Pelosi’s and Harry Reid’s grand plan to save us from catastrophe with big government — and it does not like it.
So far, this administration has either passed or proposed over $2 trillion in new spending, money we don’t have. This is above President Bush’s $700 billion mistake. Like it or not, the free market does not lie and it has responded with the same distaste for President Obama’s deficit spending it did to President Bush’s.
Now comes the sobering fact. Taxes, inflation and higher interest rates. All will be consequences of more deficit spending and all will make us poorer than if we did nothing.
The reality is this down cycle is going to make us poorer no matter what. The real question is: How long do you want it to last, a couple of years or a decade or more?
Make no mistake about it, this president does not care about getting us back to prosperity. It is clear to me by his first weeks in office that his goal, as well as that of Pelosi and Reid, is wealth redistribution not prosperity. Maybe that was the “change” he campaigned on.
KEN RICHARDS
Grand Junction
5 Responses to “Obama’s ‘change’ is in wealth redistribution”
Posted March 4th, 2009 at 9:17 pm Login to Send PM Report this comment
Obama also said we were in for hard times to fix the problems we are in… Yep, hard times are going to continue…
Posted March 5th, 2009 at 12:45 pm Login to Send PM Report this comment
Doesn’t make it any better, but those of us who were actually listening to Obama’s own words are not surprised. BO ran on a socialistic platform and that’s what we’re getting.
Obama reveals what “Change” Means
http://www.youtube.com/watch?v=akLlxxWaJZM&feature=related
It’s all about spin:
http://www.youtube.com/watch?v=H64yKJhB528&feature=related
The hypocrisy of it all is what’s even more disgusting.
During the election he appealed to peasant emotions by saying that it’s not “fair” that “the top 50 hedge fund managers made 29 billion dollars”. We’d be lucky if stealing all 29 billion could fix this mess.
Course, he doesn’t mention billionaire hedge-fund manager George Soros, the money machine behind the Democratic madness, MoveOn, and the propaganda machine Media Matters. Make obscene money with all the other crooks and Move On is more like it. Soros and his Billions - already convicted of insider trading - helped elect BO and ensure a one-party government with unchecked power in the hands of the far left liberals in Congress.
During the campaign, Obama also said: “You can’t take out a credit card from the Bank of China and then say that you’re cutting taxes….. and that is irresponsible.” So what does he do? We’re in hock to China up to our eyeballs.
http://www.youtube.com/watch?v=IUfo-RxkXA8&feature=related
He rants against the “the ownership society” (like grabbing a home even if you can’t afford it) where “even common sense regulations are (seen as) unnecessary and unwise”. Like the “common sense” regulations for Fannie and Freddie that Barney Frank (DEM), fought AGAINST. While there is plenty of blame to go around, if there was one move that would have prevented this mess it would have been the “common sense” investigation of the housing boom. Common sense says booms don’t last forever. Even Greenspan has admitted that he knew we were getting in trouble but also knew CONGRESS would never put a halt to the unregulated lending practices. Everybody was making money - from making mortgages to un-creditworthy buyers, approving 110% loan-to-value risky refinancing, defaulted mortgages being sold and traded at full value. BO and his cronies took advantage of the boom, just like everyone else.
http://www.youtube.com/watch?v=-fxz3UgwCR0&feature=related
(pardon the doomsday background - just listen to Obama)
Posted March 5th, 2009 at 1:45 pm Login to Send PM Report this comment
The only spin in those videos is Hannity and Reagan going on about Socialism…
It is funny that helping those who need help and trying to free the oppressed is a bad thing to you…
I was watching a show on the History Channel called “The States” last night and they were talking about Louisiana and segregation. There was a man holding a sign that said, “Mixing Races is Socialism”. It is funny that the rhetoric doesn’t change, just the topic.
These video’s are typical propaganda videos. Not much unlike the Nazi’s used during WWII… Funny were the conservatives get their ideas…
Posted March 6th, 2009 at 5:12 am Login to Send PM Report this comment
kakuni, I’m glad you took my advice and listened closely to Obama himself speaking his own mind in every one of the videos I posted. Hearing his ideas (from the horses mouth so to speak), you rightly observed “typical propaganda” and “Not much unlike the Nazi’s used during WWII”. Thanks for making that point.
On a more serious note, here’s one that’s “prophetic” in that it’s an interview done before the election. In case you don’t know who Thomas Sowell is - his bio makes BO look like a preschooler.
http://www.youtube.com/watch?v=yt_q4FA9kUQ
Posted March 6th, 2009 at 9:45 am Login to Send PM Report this comment
Great, maybe he should have ran for president… I must say atleast this was not a bunch of propaganda BS. Thomas Sowell looks at the issues intelligently and I respect him for his opinions. I actually enjoyed this video thanks. I wish you could post more comments like this instead of the usual crap you post, atleast this is intelligent.
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