Friday, February 27, 2009

An Emphathic No

What does it tell you that the stock market has dropped roughly 25% since Obama took office? The stock market has a way of casting it vote each day on the different situations around the world. Unrest in the Middle East is met with an immediate increase in oil prices. When the situation reverses, the price goes in the opposite direction.

So, what does the market tell us about it's feelings about the Obama policies? I believe it is saying "they suck". That is the only way to read the situation. The Treasury Secretary half heartedly tells us what he is going to do and the market plunges 300 points. Obama gives his State of the Union, and the market suffers another down day. Naturally, the $3.5 trillion budget was met with the same results.

Larry Kudlow has an excellent article about this very subject. Read it here.

I think Kudlow is right (one of the few times). Obama has an all-out assault on the business. He believes that anything not in the control of the Federal Government is bad. Private investment is something that needs to be destroyed. If he cannot regulate it, he wants to tax it or nationalize it. This is the essence of his administration.

The sad truth is the government cannot solve any problems. They have zero problem solving skills. If you doubt it, look at education. We trusted the government to educate our children and we have a bunch of idiots. At the end of the day, waste and fraud prevail when the government is involved.

We are seeing the only semblance of intelligence voting each day on Wall Street. The American people voted overwhelmingly for Obama. However, most of them are like sheep. They will do anything NBC news tells them to do. The market is made up of people who have the financial risks exposed. They tell us who is wrong and who is right.

And, at the moment, Barack Obama is totally wrong.

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