Tuesday, February 10, 2009

The Treasury Plan

It is becoming more obvious this administration is looking to destroy all it can when it comes to private business. Today, in addition to a stimulus package that most agree won't do anything, the Treasury Chief made his long awaited announcement regarding the financial markets. This was met with a swift 400 point decline. It seems the market is not keen on what the administration is doing.

Read the article here.

If they are going to screw things up so much when they open their mouths, why don't they just learn to keep them shut. Giether managed to say nothing to put the markets at peace. Obviously, his lack of clarity only compounded the issue. Look at the bank stocks: they were decimated. This is just another case of government intrusion screwing things up.

I know: all the liberals will say that it was the "big, bad rich people" who were hurt. You know the type we are referring to: the ones the press calls "Wall Street". Well, I am here to tell you that is not the case. Obama is harming the very people he is pretending to care about. Most of America has investments of some kind. When the market gets slammed to the tune of 400 points, it is all those with 401K and IRA that are harmed. Also, the people who invest on their own, with the thousands of dollars are the ones ill-equipped to sustain a downturn of this nature. Warren Buffet might lose huge numbers, but he still has $40 billion left to play with. Most do not.

It is becoming increasingly clear that the people in charge have no idea how to get us out of this crisis. Everything they are doing to fix the system is only creating a bigger mess. It it time for the government to step out of the way.

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