Barack Obama: short seller?

The market, already down by around 300 points, took another nosedive when Barry opened his yap today (the DJIA wound up closing down 630 points).

President Obama said financial markets around the world "still believe our credit is AAA and the world's investors agree," although his speech did little to cheer up the market.

Really?!? How do you do it, Holmes?

By the way, the president – whose limited imagination conceives of “balance” as being limited to (largely imaginary) spending cuts and (very real) tax increases – ought to give some thought to economic growth. Quin Hillyer points the way.

Update: Insty has a round-up of reactions to Obama’s speech today. Probably my favorite is Jennifer Rubin’s:

He was a half hour late. His head turned from side to side as if he were attending a tennis match. He practically never looked in the camera, as if he were averting our gaze. And those were the strong parts of President Obama’s disastrous speech.

It was a bit like a slow-motion car crash. After a while, one stopped listening to the blather and simply watched the stock ticker go down and down. And down some more.

Obama had all weekend and the best he could come up with was a reiteration of his plea for a “balanced” approach to deficit control. That’s right. We have a tumbling stock market, over 9 percent unemployment and a flight to gold (some investment advisers say it will be at $2,500 per ounce by year’s end). All he can do is promise to raise taxes.

Yeah, Barry wants all those idle rich making over $250M a year to kick in with their fair share. Let’s see, though. If the top 10% of income earners are already paying over 70% of the income taxes collected – and over 40% aren’t paying any income taxes at all – just exactly what constitutes “fair”?


"Olé, comrades!"

(Image gratefully swiped from Are We Lumberjacks?)

Update II: Heh. The latest NObama bumper sticker.