Dad “If Obama were to get impeached for being born in Kenya then the market would sore!”

Ya…we would have Biden and Peeeelosi. That would really help our 401Ks….not!

Everything this administration has done to this point has as its goal to destroy capitalism and the middle class in America. They seem to have no understanding that capitalism is what is going to create a recovery.

As to how low can the market go, it can go a lot lower. There is support at 6600 on the DOW. If that gets cracked, the next level is 6000. There is nothing that will stop this slid.

I believe we will see 6000 before our taxes are due.

Write about something else and leave the writing of articles on economics to know what they are talking about in that area.

“Another hate piece from the deranged cavegirl.

Calling people names? Mocking them? ”

Was this sooo bad?

Mocking is better than insulting, dear mangosta.

* * *

70. bear:

“Mongoose, Vivo has never posted anything with redeeming value,”

Redeeming value = conservative? fringe right?

* * *

74. TXGirl:

” the problem is, every time i ask a democrat that, they immediately blame bush for everything.”

No, it’s not Bush’s fault, or Obama’s, it’s YOUR fault. You make the decisions in your life.

* * *

77. Marc Malone:

“People have been dumbed down. They are no longer taught our system of economics. They’re taught to be drones. They’re taught what to think, not how to think. They also haven’t been hungry enough to take a chance.”

You are absolutely RIGHT!

***
“The market has been going down dramatically since O’s election. Every time he announces something, the market tanks dramatically, as it responds appropriately to his new message.”

And WHO are those market manipulators?? Take a guess.

“If he’s a socialist with no loyalty or allegiance to the United States, then driving down the market, destroying the middle class and foreign policy gains don’t matter. His allegiance and loyalties are elsewhere”……..
BINGO…we have a winner!

HOW is the disparity of wealth unbearable? Who says it must be within certain tolerances? How much money is too much money? When does it become immoral? Who gets to determine the amount? Merely asking these questions highlights the childish notion about the “unfairness” of it all.

Focussing on “unfairness” is the very basis of Marxism. It’s facile and childish, but it resonates, because it appeals to our baser nature of covetousness. A philosophy that appeals to our baser nature, rather than our higher reasoning, is an evil one.

The reason there is a greater disparity, is because more wealth has been created, because we’ve been really prosperous for a long time. However, more people with the knowledge of acquiring wealth has not increased as rapidly.

People have been dumbed down. They are no longer taught our system of economics. They’re taught to be drones. They’re taught what to think, not how to think. They also haven’t been hungry enough to take a chance. They have been told for too long that they shouldn’t have to take a chance. There’s a better way. Let government take care of you. Sleep. Nirvana is on its way, courtesy of the government.

As for their wealth evaporating? Well, what caused that? Governmental interference, specifically by the Socialists. This is how radicals work. They undermine the system, then point to the now failing system and say how intrinsically broken it is. It’s not INTRINSICALLY broken. It has been SABOTAGED. By the radicals. For their benefit. Not for yours.

The market has been going down dramatically since O’s election. Every time he announces something, the market tanks dramatically, as it responds appropriately to his new message. The more he makes clear his Marxist agenda, the more the market tanks, and the more the 401k’s shrink. This is not a coincidence. Those in the marketplace readily declare it.

Obama’s agenda is wrecking the 401k’s, so that he can make you dependent on the government. “See, the free-market doesn’t work. It’s intrinsically flawed. (They sabotaged it.) The government is forced to take action to preserve our futures. We will now nationalize everything, including those 401k’s. Now, it’ll be all invested in the (broke) government. You’re safe now.”

Oh, joy!

Those who have received the benefits of our sabotaged education system cannot see this very readily, even when explained, because they’ve been indoctrinated to think that “some Socialism” is okay. Ain’t no sech thang. It’s like being a little bit pregnant. Eventually, you become more pregnant. Then you start birthing Communism. Then, you have no wealth at all, as it all resides in the government under the control of Party leaders and bureaucrats.

The main issues concerning repeal of Glass Steagal follows;

It is a conflict of interest to let the same instutution granting credit also use the same credit for investing. This is exactly what led to the credit bubble of the 1920′s, and the main reason it was enacted in 1934.
In other words derivatives were created as an illusion of credit, by the same institutions that then invested using those worthless derivatives as credit ( actually debt) which the American Taxpayer was guaranteeing.

We allowed instututions to possess this incredible amount of influence, banks expanded and become so large and entrenched ” they cannot fail”

Banking deregulation allowed banks to issue and then invest the same credit (the create the derivative and then invest it) leading to huge risk for deposit insurance system, which is why we see AIG and the FDIC scrambling ( begging for Taxpayer funds) to cover massive losses.

The banking system in place from 1940-1980 limited risk and allowed for gradual managed growth. Then we let loose the regulators and we began to see the collapse in real esate trusts in the 80′s. This was the wake up call that all was not well, but Congress didnt listen.
They continued to loosen regulations and allow your ” investment banking” to compete with European investment banks. These European Investment banks issued debt instruments guaranteed by Federal Reserve, which uses American Taxpayers as the Insurance Pool.
It was a no win situation for the American Taxpayer, who was put on the line to cover the issuing credit
( derivatives) and the insurance to cover them if anything went wrong( AIG and FDIC).

“Investment Banking” deregulation is what led to this mess, as the Federal Reserve is not beholden to the US or its citizens, Its only interest is to protect original member banks which are European.

JohnGaltlives is correct, the Federal Reserve is source of banking instability, but it is US Congress and Senate that has handed over keys to the safe. We allow a foreign entity to decide interest rates, money supply and risk while forcing the American Taxpayer to underwrite their global foolishness.

Nothing of what is happening is a surprise to me. The only surprise is how quickly he is doing this. I thought he would be a tad more stealthy and measured about it. But he and the other socialist, Pelosi, are going for it all right now. It’s as if they know that they only have two to four years to pull this off and then they’re gone. And that will be the case. I think we can reverse a lot of what they put in place, but not all of it. Dick Morris’ assessment is exactly right. This guy knows he’s a one-term president and so he is going to go for it all. The recovery will be sub-par and inflation will build in afterwards. Then the Fed will have to raise rates and induce another recession in order to wring the inflation out – before we can really grow again in earnest.