So Much for the "Obama Bounce" on Wall Street
By John W. Lillpop
Just last Friday, mainstream media were celebrating five consecutive days of positive results on the stock exchange. Some of the more liberal and less lucid venues even went so far as to credit Barack Obama for the "change" in direction.
By naming his economic recovery--NOT bail out!--team, the lefties argued, Obama had restored a semblance of confidence on Wall Street and Main Street. Socialist leadership and a few trillion dollars is all it takes to fix the Bush mess, according to the left.
Obama also earned high praise for promising to send a "jolt" to the economy with another massive economic stimulus bill that will involve hundreds of billions of dollars of additional taxpayer money. Demanding that Congress have such a package ready for his signature at 12:01 PM on January 20, added to the illusion that President-elect Obama knows what he is doing, and is in charge.
Marlin's beard! After a week to digest the totality of Obama-nomics, today Wall Street dropped nearly 700 points, in one bloody session! ***
Of course the left has an immediate answer: The loss of 700 points is the result of eight years of fiscal mismanagement, if not down right thievery, by George W. Bush!
It is all quite simple: When things go well, it is because of the Golden Touch of Barack Obama.
When things go poorly, it is another lump of coal in the stocking of middle class Americans, courtesy of the anti-Santa Clause, George W. Bush!
Posted by John W Lillpop at 2:41 PM