Tag Archives: Barack Obama

News

Democrat stock-picker Jim Cramer angry with Obama’s socialism

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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.

News

LAT: Conscience rule on abortions may be overturned

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Los Angeles Times story is here.

Reporting from Washington — Taking another step into the abortion debate, the Obama administration today will move to rescind a controversial rule that allows healthcare workers to deny abortion counseling or other family planning services if doing so would violate their moral beliefs, according to administration officials.

And a bit more:

Last month without official ceremony, Obama overturned a controversial ban on U.S. funding for international aid groups that provide abortion services.

The move by the Department of Health and Human Services to throw out the conscience rule is being made equally quietly as most of Washington focuses on the president’s blockbuster budget plan.

UPDATE: The Achoress adds:

If we are going to be a nation that supports the “freedom to choose,” then it seems to me that has to go both ways. Professional health workers should be “free to choose” whether or not they will participate in what they find to be morally objectionable.

Freedom that is only one-sided i.e., “she is free to have a late term, partial-birth abortion and you are not free to refuse her request” or “she is free to demand this contraception and you are not free to refuse to fill that prescription,” is not really freedom.

It is enslavement. Dress it up any way you want. If the government is forcing you to do what your conscience tells you not to, under threats to your freedom, your purse or your livelihood, then you are not free.

News

Obama introduces cap and trade scheme in budget

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I was browsing over at Nice Deb and found this story about the budget that really upset me. I am really beginning to fear for the future of the American economy. I don’t think we can handle all of these bad decisions in such a short period. We may be looking at a new Depression.

Nice Deb cites this article from Human Events as follows:

The Department of Energy estimates that S. 2191, the Warner-Lieberman cap-and-trade proposal, will increase the cost of coal for power generation by between 161% and 413%. DOE estimates GDP losses (see chart) over the 21-year period they forecast, at between $444 billion and $1.308 trillion, with particular damage to the manufacturing sector…

Winegarden estimates that this bill could increase unemployment by 2.7% or about 4 million jobs. In fact, companies are already preparing to avoid increased level and volatility of American energy prices by setting up factories and partnerships in countries which won’t be subject to cap-and-trade restrictions…

In addition, we can expect 1 trillion dollars in new taxes. Here are the individual tax hikes from an ABC News article that Nice Deb links to in her post:

On people making more than $250,000:

$338 billion – Bush tax cuts expire
$179 billlion – eliminate itemized deduction
$118 billion – capital gains tax hike

Here are some of the tax hikes on businesses from the same post. I picked the ones that are specifically going to affect energy production.

$5.3 billion – excise tax on Gulf of Mexico oil and gas
$3.4 billion – repeal expensing of tangible drilling costs
$62 million – repeal deduction for tertiary injectants
$49 million – repeal passive loss exception for working interests in oil and natural gas properties
$13 billion – repeal manufacturing tax deduction for oil and natural gas companies
$1 billion – increase to 7 years geological and geophysical amortization period for independent producers

Oil and gas? Isn’t that what people use to heat their homes and power their vehicles?

UPDATE: The Anchoress says that the price hikes on individuals making $250,000 or more also apply to small businesses, as well as individuals! Bye-bye jobs!