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Another rant,Cramer on Obama: 'It's Amateur Hour at Our Darkest Moment'

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posted on Mar, 3 2009 @ 10:46 AM
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Cramer on Obama: 'It's Amateur Hour at Our Darkest Moment'

newsbusters.org...

businessandmedia.org...


Since Obama took office on Jan. 20, the Dow Jones Industrial Average (DJIA) has lost over 1,000 points, including a nearly 400-point drop on Feb. 10 after a disappointing speech by Obama’s Treasury Secretary Timothy Geithner on sorting out troubled assets. Cramer pleaded with the administration to take note of the possibility it might have something to do with that.



“I’m not asking for the Feds to give us a plunge protection team, to stop declines – as we always thought to be the case under Greenspan,” he continued. “I’m not saying, ‘Mr. President, stare at the Bloomberg quote machine and come to your senses. I just want some sign that Obama realizes the market is totally falling apart and his agenda has a big hand in that happening.”



Cramer was highly critical of the Obama administration for not catching on thus far. He questioned the merits of their abilities to contain the market turmoil and wondered if they were even bothered by it.


Are they bothered by it?

Perhaps they want it.

I am starting to think they want the collapse of America.




posted on Mar, 3 2009 @ 11:32 AM
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online.wsj.com...


So what has happened in the last two months? The economy has received no great new outside shock. Exchange rates and other prices have been stable, and there are no security crises of note. The reality of a sharp recession has been known and built into stock prices since last year's fourth quarter.

What is new is the unveiling of Mr. Obama's agenda and his approach to governance. Every new President has a finite stock of capital -- financial and political -- to deploy, and amid recession Mr. Obama has more than most. But one negative revelation has been the way he has chosen to spend his scarce resources on income transfers rather than growth promotion. Most of his "stimulus" spending was devoted to social programs, rather than public works, and nearly all of the tax cuts were devoted to income maintenance rather than to improving incentives to work or invest.

His Treasury has been making a similar mistake with its financial bailout plans. The banking system needs to work through its losses, and one necessary use of public capital is to assist in burning down those bad assets as fast as possible. Yet most of Team Obama's ministrations so far have gone toward triage and life support, rather than repair and recovery.

AIG yesterday received its fourth "rescue," including $70 billion in Troubled Asset Relief Program cash, without any clear business direction. (See here.) Citigroup's restructuring last week added not a dollar of new capital, and also no clear direction. Perhaps the imminent Treasury "stress tests" will clear the decks, but until they do the banks are all living in fear of becoming the next AIG. All of this squanders public money that could better go toward burning down bank debt.

The market has notably plunged since Mr. Obama introduced his budget last week, and that should be no surprise. The document was a declaration of hostility toward capitalists across the economy. Health-care stocks have dived on fears of new government mandates and price controls. Private lenders to students have been told they're no longer wanted. Anyone who uses carbon energy has been warned to expect a huge tax increase from cap and trade. And every risk-taker and investor now knows that another tax increase will slam the economy in 2011, unless Mr. Obama lets Speaker Nancy Pelosi impose one even earlier.



posted on Mar, 3 2009 @ 11:42 AM
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Now as I recall, there was this poll,

I thought then to myself,

How so?

Obama is not an economist, where are his qualifications?

money.cnn.com...

76% say Obama can fix economy - poll

No.13, 2008


NEW YORK (CNNMoney.com) -- A poll released Thursday found that a majority of Americans believe that President-elect Barack Obama can fix the economy.

According to a CNN/Opinion Research Corp. poll, 76% of Americans said they believe it's likely that Obama will improve economic conditions.

In addition, 73% of those surveyed said they believe that Obama will bring stability to the financial markets


Remember this?

Most likely not,


Tonight Barack Obama ended his interview with CNN’s Anderson Cooper with these words:

“Right now I’m learning an awful lot about the economy.

I’m not a trained economist, but I’m spending a lot of time thinking about that so that I can make the very best decisions possible for the American people.”

Really, you gigantic, colossal hypocrite? “Learning an awful lot about the economy”? “Not a trained economist”? Pardon my language, but just where the hell was all that modesty and honesty when you were tearing out John McCain’s throat for his similar admission offered at a time when people were making up their minds and when that little bit of honesty was most important?:


startthinkingright.wordpress.com...

Oh well count it as posted for posterity.



posted on Mar, 3 2009 @ 10:18 PM
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Originally posted by Stormdancer777

I am starting to think they want the collapse of America.


Clearly, there are forces that have been working for more than a hundred years to bring to bear Marx's predictions about capitalism. There are very many of those kinds of people in our country and quite a few in government, I fear.

We could very well be looking at the dying gasps of not just capitalism, but the entire culture that has made free markets and free minds possible.

In the US, our popular culture is trash. Our most fundamental institutions are considered irrelevant and our economic system is not only on its back but the public confidence in the system is so shaken by recent losses that people who actually have money to invest are too frightened to do so in the stock market.

Add to that mix the fact that we are at war with a vicious and opportunistic enemy and you've got a pretty dismal prognosis for freedom.

Is all hope lost?

No, it is not, but the future of America, free markets and liberty is in the hands of every individual American.

We can't stand helpless like cattle waiting for the heavens to open or for government to solve all our problems. It just won't happen.

It will be all too easy in the days ahead for us to abandon our national ideals for the sake of some immediate comfort, but the cost will be generations of diminished individual rights and ultimately slavery.

America has endured far worse and it can endure this if only our people remain strong and faithful to the principles that gave birth to this nation and gave it the strength to survive this long.



[edit on 2009/3/3 by GradyPhilpott]



posted on Mar, 4 2009 @ 10:04 AM
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I'm actually a bit surprised that a whopping 24% think that he can't fix the economy, and that 27% think that he can't bring stability to the markets. So one quarter of our population thinks we're FUBARed.



[edit on 4-3-2009 by theWCH]



posted on Mar, 4 2009 @ 11:15 AM
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reply to post by GradyPhilpott
 



Thank you Grady for the lovely post, hope springs eternal in the human breast.




Clearly, there are forces that have been working for more than a hundred years to bring to bear Marx's predictions about capitalism. There are very many of those kinds of people in our country and quite a few in government, I fear.

Yes, we have one as president.



posted on Mar, 4 2009 @ 11:17 AM
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Originally posted by theWCH
I'm actually a bit surprised that a whopping 24% think that he can't fix the economy, and that 27% think that he can't bring stability to the markets. So one quarter of our population thinks we're FUBARed.



[edit on 4-3-2009 by theWCH]


I don't know what is going to happen, there are cycles, things will turn around I believe, but NEVER BE THE SAME.



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