It's been a rotten 6 months for the economy and the financial markets. We've had bank rescues, Porkulus, mortgage schemes, a bunch of liberal regulations and a variety of discordant policy statements foisted upon us, the world, and ultimately those pesky markets.
Why are the markets important? Though our new Marxist overlords would disagree, markets drive the future economy by signaling expectations of potential success and failure. Unrestricted markets are the best indicator of future economic success.
IBD has some thoughts on this: Is It Any Wonder The Market Continues To Sink?
"Today, as the market continues to sell off and we plumb 12-year lows, we wish we had a different explanation. But it still looks, as we said four months ago, "like the U.S., which built the mightiest, most prosperous economy the world has ever known, is about to turn its back on the free-enterprise system that made it all possible."
This is bad. Really bad. It portends a worse time in the future, and a worse time than would have occurred had the government just stayed out of the way and let the market correct through bankruptcies and other mechanisms.
So, what's the change? While Obama and his crew ran on this Hopenchange rhetoric, the question that I would ask is "how bad does it have to get before the DEMOCRATS and other idiots who voted for Obama throw HIM under the bus?"
Just wondering.
Well the housing crash and the downturn in the market continue to erode at our wealth. If it continues we will all have nothing.
........but ah.......then we will all have our government to take care of us all......right where Barry wants us........his Tuesday speech was well delivered....but did he really mean everything he said???? can we afford to pay for all the things he promised????
And now he wants to begin a cap and trade policy on carbon as way to fund his CHANGE.....and make all of us pay for it with higher energy costs...
Posted by: Al Sliwinski | 26 February 2009 at 08:02 PM