Thursday, November 12, 2009 5:10 PM
By: Dan Weil Article Font Size
Gasparino, author of new Wall Street exposГ© The Sellout, says that Obama’s Wall Street supporters saw him as smart and less erratic than John McCain, but they didnвЂ™t expect socialized medicine, a $787 billion stimulus plan, and quick tax increases. (Newsmax Image)
CNBC commentator Charles Gasparino says another financial catastrophe is coming, thanks largely to President ObamaвЂ™s flawed economic policy.
вЂњA lot of people on Wall Street voted for him because they thought he was smart. They thought he was less erratic than John McCain,вЂќ Gasparino told Newsmax.
What those voters didnвЂ™t expect was socialized medicine, a $787 billion stimulus plan, and quick tax increases, he says.
No what his voters expected…:
Free money (to spend on what they wanted)
Everything FREE<: FREE<:FREE!
the majority of his voters thought that Obama would free them of their day to day mediocre lives and set them up for life like: Warren Buffets, George Soros, Micheal Jordans of America…never mind that these men earned their money, the respect of others (whether you like them personally is not important).
the majority of Obama voters thought they would be getting a free ride to life of riches…Instead, they see themselves slipping even deeper into debt with no ladder to even attempt the climb out the pit of disparity.
that’s a Freudian protection mechanism. they have witnessed with horror the utter failure of their Messiah for 3 years. This motives this form of intense inner psychological conflict that they circulate into denial the Obama is truthfully the president. They strengthen the fable that some imaginary buddy has been the president for 3 years, and the Obamas are in simple terms the abode sitters on the White abode at the same time as the real president is out of city. nicely, the Obamas spend lots time on trip, it is straight forward to get puzzled and picture they actually stay someplace else, and the imiginary real president lives interior the White abode at the same time as they are away.
Only the most uninformed and/or gullible among us think Obama is going to help the economy. History has proved time and again that Obama’s Keynesian-style economics don’t work. The stock market is being manipulated artificially to make people think Obama is succeeding at helping our country. The dollar is nearly worthless in other parts of the world, and Obama is working with the G20 to adopt the euro. Just like the housing boom, this house of cards is going to come crashing down around us one day and we are going to experience hyperinflation, massive unemployment, and extreme poverty. As for people who didn’t expect socialized medicine or a $787 billion stimulus plan and quick increases, my response is shame on them. The truth about Obama was widely available to anyone who cared to read his books and do some research on his background, previous interviews, writings and associations before deciding to vote for him. Laziness and ignorance are no excuse. Further, we don’t have any objective evidence that Obama is smart. He refuses to release his college transcripts. As for being erratic, he exposes his erratic behavior, his unresolved anger and his underlying drug addiction in his own books. The election of Obama proves that two generations parents and the public school sysem have failed our children and turned them into blind, deaf, dumb myrmidons who care more about celebrity, pet causes and fashion statements than they do about their own lives. And when you think about it, last year Obama was the ultimate fashion statement, the latest trend, and the hottest thing in town. He had nowhere to go but down, and he’s falling quickly, taking America with him.
I read a previous book by Charles and watch him on CNBC. He’s pretty sharp.
But he’s not the only one pointing to all the super-stupid over-spending.
Obama is acting like an alcoholic who has not learned that ":doing the same thing and expecting a different result": is the definition of insanity.
We, all of us,from top to bottom, have over-spent ourselves into humongous debt.
It was by spending money we didn’t have that got us into the mess.
Borrowing more or printing more money is like an alcoholic given free rein in a liquor store.
And his condition only gets worse.
The people on wall street got exactly what they wanted. And the DOW is at an 18 month high because of it. Socialized medicine? How do they come up with stuff like this. A system of 100% Private doctors and 100% private insurance except for medicare which we have had for 45 years is not Socialized medicine by any stretch of any definition.
That Analyst is just spewing right-wing talking points and has nothing whatsoever to do with reality.
History shows that tax increases hinder recovery from a recession and that tax cuts aid recovery. The stimulus plan was little more than a massive pork project the Democrats have wanted for many years because this is first year since 1994 that they have had both Houses of Congress and the White House.
Only facts, Dow over 10,000, Auto makers willing to pay back loans early, Ford makes a profit, GDP growth for the first time in a year. retailers, higher than expected profits. The housing market and unemployment are residue of the failed Bush Administration. Due you really think those things were a result of the last 11 months. Where have you been my friend! Wall st itself doing better now than it has done in the last two years. Just facts. Check it out for yourself. Even Fox News is having a hard time putting a bad spin on it. So watch Fox and when your done, if you need a hug, Iam here for ya bro.
Yes, even China is criticizing him.
Liu Mingkang, chairman of the China Banking Regulatory Commission, said that a weak U.S. dollar and low U.S. interest rates had led to ":massive speculation": that was inflating asset bubbles around the world. It has created ":unavoidable risks for the recovery of the global economy, especially emerging economies,": Liu said.
They saw Congress force FM and FM give out loans to people who had no business buying homes and everyone else in the country knew he was a tax, borrow and spend liberal. What did they expect to happen?
I knew this long before he was elected that he way lying to a nation of sheep, and now look at the mess we are in, but this is how socialism works….sad for sure..
He is already bad for the economy, He gave a tax break back in Feb and now they figured out that they screwed up and taking the money away next year at tax time.