See this awesome post over at Nice Deb. She’s got the videos up showing democrat Jim Cramer complaining about the economic free-fall caused by Obama’s policies.
There are a lot of people in this country who do not know anything about economics, but they’ve been buying stocks based on hype generated by Obama-supporting Wall Street types.These gamblers (not investors) have not read Hayek or Sowell or Friedman. But they hope that Obama’s socialist policies will make the stock market go up.
According to Business Week, Cramer is a life-long Democrat. According to this article, he contributes to Democrats. I think it is interesting to note that it’s probably Democrats who are taking the most damage from the market right now, because they believe in Obammunism – they think that the market will rise as we go socialist.
Check out this video of Cramer being bullish on the Dow when it was around 14000 in the teeth of abysmal fundamentals, and then later denying that he was bullish.
And now Cramer is surprised that the party he supported is wrecking the economy. I hope he loses piles of money, and I hope everyone who voted for Obama loses everything. EVERYTHING.
Remember, Democrats caused this mess by forcing banks to make loans in order to achieve social justice for the benefit of other irresponsible Democrats who signed legal contracts with banks to purchase more house than they could afford. Many of these banks were being run by Democrats who got million-dollar bonuses while fudging the accounting and paying off Democrat lawmakers to block efforts by Bush to regulate them. Now the Democrat bankers are working for Obama.
The Democrats are voting in wasteful spending bill after wasteful spending bill, and none of this spending will help the economy one iota. And it’s not just socialist tax policy, it’s protectionist trade policy, too. And no matter how much Obama raises taxes on the productive class, we cannot afford to pay for this spending.
Democrats in general seem to believe that their socialism will make the economy grow faster. The falling stock market must be a real wake-up call to their ignorant faith in an ideology of feelings and intentions.
The fact that Obama’s policies are likely to cause inflation and/or stagflation means that the rest of us responsible people who have to pay for this crap will have the additional comfort of knowing that every dollar we saved after our hard work will be devalued when he has to print money to pay for his wasteful spending.