We’re now down well over 2000 points on the Dow since election day. Gold is up over $200/oz in the same time.
If one were consciously attempting to destroy the American economy, what exactly would one do that is different from what Team Obama is now doing?
Almost every step they take is the precise opposite of what we should be doling. Massive debt/leverage is what created the crisis; to propose more of the same as a cure is irrational. If massive debt loading could actually create prosperity, we’d all be millionaires today.
There is no one – and I do mean no one – who actually believes these nutty programs will do anything other than make a very bad situation much, much worse.
We should be doing the opposite. We should cut federal spending to the bone and spend nothing on anything except for defense and paying down the national debt. Every business and every household in the nation is now cutting way back on spending; only our government could possibly be this divorced from reality. I doubt even the media believes these plans can succeed – though they’d never say it aloud.
Rick Santelli and Jennifer are both correct. The inmates now run the asylum and, worse, now own the keys to the national mint.
This will end in utter chaos.
