the increase is what professional investors call a “fool’s rally” and a “bull trap.” The market is still in a downtrend. The most dangerous time to buy is in the “fool’s rallies” that happen repeatedly during a long term bear market.
Warren Buffet, who knows a bit more about stocks than our food stamp president, told us to buy stocks just before the market went down 3,000 points to where we are today, and Buffet like Obama is saying to buy now.
You heard it here: this is time to sell an stocks you have left, dump them and dump Obama.
Obama thinks passing a bill with $8 billion of earmarks is the way to revive the market!
Duh! Is this the same lying welfare leech who promised us no more earmarks?
Liar, liar, market killer!
Posted in 401k, bailout, barack obama, Blogroll
Tagged 401k, bailout, barack obama, bear market, Democrats, depression, dow jones, earmarks, economy, life, mortgage crisis, news, politics, standard & poors, stock market, stock market crash
The federal deficit is projected to widen this year to more than $1.3 trillion, the biggest shortfall since World War II. Two days ago, Obama convened a budget summit where he pledged to cut the deficit in half by the end of his first term.
He forgot to say that most of the decrease came from letting Bush’s tax cuts expire, and from getting out of Iraq, which Bush had already approved.
During his first address to a joint session of Congress last night, Obama said he was proud that the $787 billion economic stimulus plan was enacted “free of earmarks.”
“My administration has also begun to go line by line through the federal budget in order to eliminate wasteful and ineffective programs,” the president said.
The pet projects remain popular with lawmakers on both sides of the aisle.
“Congressionally mandated spending is part of our job — that’s what we do,” Senate Majority Leader Harry Reid, a Nevada Democrat, told reporters yesterday. “We shouldn’t depend on bureaucrats downtown to take care of our individual states.”
According to Bloomberg, the most respectedly accurate news source, the U.S. House plans today to approve a $410 billion spending bill providing $7.7 billion for more than 8,500 special projects, according to Taxpayers for Common Sense, a Washington- based group that tracks earmarks.
Wait? Didn’t our food stamp President just pass $787 billion in spending?
Now the Dems want another $410 billion awash with earmarks and pork?
No wonder the stock market continues to crash. We should all be buying gold, or drugs, or AK-47s for the coming revolution.
Posted in bailout, barack obama, Blogroll, economy
Tagged bailout, barack obama, deficit, Democrats, depression, earmarks, economy, life, mortgage crisis, news, politics, pork, recession, revolution, stimulus
Did you see Nancy Pelosi jump up in absolute ecstasy when Obama said corporate and bank executives could not just disappear in their private jets?
Did this psychotic bee-yatch actually forget that every weekend she disappears on a 200 seat jumbo jet to commute to her mansion in San Frangayda, and then back again, at a cost to us taxpayers of more than $100,000 each weekend round trip?
Her private government jet costs you and me more than $6,000,000 every year to commute between her Washington DC mansion and her San Frangayda mansion, but the Dems want Sarah Palin to pay back $7,000 for her daughters travel?
For those who are mathematically disadavantaged, Pelosi get $857 for every dollar our lovely Sarah gets!! This is wrong!!
Does the goverenment make Nancy Pelosi pay back the pro rata cost of her friends and family members who get free rides on Nancy’s jumbo jet paid by you and me?
Finally, did you watch Nancy’s facial expressions during the food stamp President’s speech? Nancy Pelosi has psychological problems!
Posted in bailout, barack obama, Blogroll, inflation
Tagged bailout, barack obama, earmarks, jumbo jets, life, lou dobbs, mortgage crisis, Nancy Pelosi, news, politics, private jets, tax increase
Obama rose to prominence in Illinois after Obama the lawyer would write up the proposals for his crooked friends like Rezko to get hundreds of millions of City of Chicago Taxpayer Dollars to build public housing projects, all of which were substandard.
Once Obama had proven him selve to Mayor Daley, the most corrupt politician in America, as being capable of looting gadzillions without attracting the FBI, Obama became Mayor Daley’s darling. It was Mayor Daley’s brother William, Clinton’s Secretary of Commerce, who got Obama the speaking position in the 2004 Democratic convention.
The Daley machine corruption got Obama the Senate seat and then the Presidency.
So this incredible hypocrite passes the $787 billion 100 percent pure pork fest bill and has the “Audacity of Hope” to go on national television with a straight face and tell his fellow Democratic Mayors not to spend his pork as pork?
He thinks we are stupid enough to swallow this.
Obama’s stimulus package is all pork, and he must have fallen all over the floor doubled up with laughter after speaking the comedy that his Democratic supports should not sped his pork bill as if it were pork.
Hoo hoo, haa, haa, the joke is on the taxpayer
Posted in barack obama, Blogroll, inflation, michelle obama, mortgage crisis
Tagged ann coulter, bailout, barack obama, depression, earmarks, economy, life, michelle obama, mortgage bailout, mortgage crisis, news, politics, pork, recession, stimulus package, valerie jarrett
Rush Limbaugh just suggested that to truly respect bipartisanship, the proposed trillion dollar stimuls package be divided up according to the proportion of Presidential votes received.
Obama would get to allocate 54 perecent ofht e money.
The Republicans would get to spend or reduce taxes for the other 48 percent.
What could be fairer?
Obama’s answer; I won. Obama bipartisaa ship is meeting with the Republicans, letting them talk for an hour, then saying Tough S— I won, and spending it all his way.
Posted in bailout, barack obama, Blogroll, life, news, politics
Tagged ann coulter, bailout, barack obama, bipatisan, Democrats, earmarks, michelle malkin, news, news and politics, politics, rush limbaugh
Obama was on TV today Oct. 13, 2008 saying he wants us to take $10,000 out of our 401(k) and tax deferred retirement savings tax free to help stimulate the economy.
Simultaneously, he wants stimulus to credit card, car loan and business loan companies to lend us more money.
Duh! Isn’t too much debt and lack of savings what got us into this mess?
Barry, the reason there are tax penalties on early withdrawals from 401(k) and other retirement plans are twofold:
(1) We are supposed to accumulate our savings long term so the money is there when we retire.The tax penalty on early withdrawal is to prevent people from doing stupid things like stealing from their retirement for current pleasures. There is a concept called Deferred Gratification, but Barry wouldn’t know about it because his entire life has consisted of charities and taxpayers fulfilling his every need everey day of his life. Barry took a four month trip around the world after his sophomore year in college without ever having worked a day in his life. Barry went to Indonesia, Pakistan and Africa with his Two Pakistani Muslim friends who today control his Presidential campaign finance. Where did the money come from for his “Round the Muslim World” sophmore trip, and where does the money actually come from for his current campaign?
(2) All retirement accounts are rstricted to investments which help build the economy. Retirement accounts are either banking deposits, stocks and other instruments which supply capital to build the capitalistic economy. In case you have not noticed Barry, the government is taking a trillion dollars of taxpayer money to increase the capitalization of the same companies that will lose capital when people withdraw $10,000 from their retirement accounts.
So with one hand Barry will take money out of retirement capital investments, while the other hand uses tax payer dollars to inject capital into the companies from which the withdrawals come/
This is economic insanity. But if Barry has never been part of the economy, how can we expect him to know anything? I gues I am unfair to Barry for exposing his insane ignorance of the economy. More here
Posted in 401k, bailout, barack obama, Blogroll, economy, Henry paulson, Hillary Clinton, inflation, life, michelle obama, mortgage crisis, mortgages, news, news and politics, politics, retirement savings, sarah palin, savings, tax increases, taxes, Uncategorized
Tagged 401k, ACORN, anderson cooper, bad loans, bailout, bankruptcy, barack obama, Barry Obama, Bear Stearns, bernacke, bill Clinton, chris dodd, Citibank, Citicorp, citigroup, cnn bias, Community Reinvestment Act, CRA, Democrats, earmarks, Fannie Mae, Freddie Mac, george bush, Goldman Sachs, Henry paulson, John McCain, jp Morgan, kill the bailout, La Raza, life, lou dobbs, mortgage bailout, mortgage crisis, mortgages, Nancy Pelosi, news, news and politics, politics, retirement, retirement savings, sarah palin, tax increase, taxes, Wachovia, WAMU, Washington Mutual, William Ayres