Thursday, March 5, 2009

Obama's New New Deal Rolls Out The Barrel . . . Moving Downhill Fast!

President Obama's tax and spend assault on capitalism continues to have a devastating toll on the stock markets. Today, stocks resumed their slide. Drudge Report calls it "The Hemorrhaging". When we last checked, the Dow was down over 200 points -- easily erasing the gains from yesterday.

In their zeal to "stimulate" the economy, the Democrats ignore the first cardinal rule of tending to a sick patient -- do no harm. The Chinese government leadership seems to get it, having announced there will be no new "stimulus" package in their country.

It's a scary day when the Communist government in Red China is more conservative than Democrats running things in Washington, D.C.

Update: Here is the reality of the "change" brought about by Obama's economic policies, as reported by Yahoo! Finance:

The Dow is now down 24% year-to-date, while the S&P 500 has fallen slightly less since the start of the year. The Nasdaq is down almost 17% for the year.

Meanwhile, the S&P 400 Mid-cap Index and Russell 2000 Small-cap Index are showing year-to-date losses of 23% and 29%, respectively.
Please note: The postings of "G. Morris", written by John K. Bush and which end in 2016, stated his views as of the dates of posting and should not be understood as current assertions of his views. The postings, which have not been altered since they came to an end, remain on this blog to preserve the historical record. In 2017, Mr. Bush took a position that precludes further public political comments or endorsements. He will no longer be contributing to this blog.

No comments: