Tuesday, February 17, 2009

Obama Signs, Market Declines

For the umpteenth time now the markets have voted "NO CONFIDENCE" on Obamanomics.

Our friend Rich Karlgaard has the sad stats:

-Stocks are down 27% since the Nov. 4th election.

-Stocks have plummeted more than 40% since Obama sewed up the Democratic nomination in June.

-Capital is on strike. And why wouldn’t it be? Private capital has no idea what future holds in terms of taxes, regulation, trade, deficits and the value of the dollar. None whatsoever.
This idea of borrowing trillions of dollars to pay for crazy spending schemes isn't exactly new. Well, the trillion part kinda is, but others have borrowed way beyond their means to have nice shiny things. It doesn't ever end well. HOPE and CHANGE aren't new, they're just the same old far left Shinola.