THE ROAD TO RUIN: OBAMANOMICS: THE MOST FOOLISH SINCE CARTER, THE MOST LEFTIST SINCE FDR

DINOCRAT:

Bloomberg says that traders and investors in the stock market have lost hope as losses mount. Virtually all of the gains since Alan Greenspan warned of “irrational exuberance” in 1996 have vanished, mostly in the last few months. Excerpt:

Options investors are paying twice this decade’s average to protect against losses in U.S. stocks through 2011, signaling the bear market that already wiped out $10.4 trillion of equity value may last two more years.
“There’s a real panic in the markets, with some people wanting to buy long-term insurance at any price,” said Peter Sorrentino, who helps manage $16 billion, including $130 million in options at Huntington Asset Advisors Inc. in Cincinnati. “People have lost hope.”

We find it very odd indeed that the commentaries on the market’s tumbling below 6800 do not seem to credit the Obama administration for this achievement. Not only did the administration produce an awful economic plan, its near-wiping-out of shareholders in Citibank has had precisely the effect on financial stocks that we predicted, namely, the stock prices of financial institutions have been destroyed.

We have now the most foolish economic policies since at least the 1970’s, arguably the most radical economic policies since the 1930’s, and we are paying the price. Why don’t most of the market commentators seem to see what is going on?

• IGNORE THE MARKETS FOR A MOMENT AND YOU MIGHT SEE THAT THE ECONOMY IS ACTUALLY BOTTOMING OUT AT A PACE THAT WOULD MEAN WE COULD RECOVER IN A FEW MONTHS ------ AND EXCEPT FOR OBAMA'S ECONOMIC POLICIES WE WOULD!

• OBAMA IS RUINING THE ECONOMY - AND AT A FURIOUS RATE: IF OBAMA'S SOCIALIST POLICIES CONTINUE TO GO THRU, THE DOW WILL BE 3500 AND OBAMA AT 35% BY JULY.