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style over substance?
I find it interesting that the only commentary on the speeches last night had to do with style. Any interest in what was actually said?
Obama, true to form, reminded me of a fat person who is promising to go on a starvation diet. . . just as soon as he eats 8000 calories at Thanksiving dinner. I suppose that's why the Dow is down 150 as I write this, despite international markets being up overnight. People with skin in the game actually listened to what Obama said. He is promising huge increases in entitlements and spending. And the only increases in taxes will be on people making over $250K. Yea, right. He flat out lied about the stimulus package not having earmarks (remember Chuck Schumer's comment about the porky little amendments?). Sorry, the math just doesn't add up. $780+ BILLION for a stimulus package, $410 BILLION for an omnibus spending bill FULL of pork, a housing bailout, a car company bailout, Geitner talked about another $2 TRILLION to stabilize the markets. Anyone have an adding machine? His talk of cutting the deficit is analagous to an exclusive store marking up merchandise 4x, then putting it on a 50% sale. Obama may cut the deficit, but only after he balloons it to unimaginable levels.
I do think the market will go up at some point, if for no other reason than the treasury is printing money faster than a drunken sailor can spend it. Of course, even if it does go up, the dollar won't be worth a plug nickel by then because inflation will have eaten up its value and foreign coutries won't be willing to fund our spending orgy anymore. I think, if Obama really believes this wll work, he is the one living in Happy Pony Rainbow Land.
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Banking institutions are more dangerous to our liberties than standing armies.
--Thomas Jefferson, 1802
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