Tuesday, August 2, 2011

Markets Vote No Confidence In Obama

Socialist President Obama's poll ratings continue to fall.   Gallop has Obama's approval rating at just 40%, presumably his die hard PEEP's.   More important, only 34% of those registered to vote as Independents now approve of the job Obama is doing.   The Markets are also voting no confidence in Obama as the Dow has fallen below 12,000 to 11,866.   The stock market has given up all gains earned in 2011.   And, watch the price of Gold, the real economic indicator, which has soared to more than $1,657 an ounce, up 15.5% since the beginning of the year.   Investors flee to the safety of Gold when they fear instability in the financial markets.   None of this is any surprise.  

Inexperienced President Obama has made such a mess of the economy, based on all economic indicators, which are dismal, that we may be entering a double dip recession.   About 17% of what used to be working Americans, 25 million, are either unemployed, underemployed working part time, or they have just given up looking for work altogether.   Millions of Americans have lost their homes to foreclosure.  43 million Americans are on Food Stamps.  Consumer spending is the weakest it has been in two years.   GDP growth has fallen to just 1.28% in the second quarter.  It was below 1% in the first quarter, when we need 3% or more to put any dent in unemployment.  And, as a business owner, I can confirm that ObamaCare hangs over the economy like an anvil waiting to fall that will destroy jobs. 

All of this has happened since Obama took office.  Most thinking Americans know that Obama's trillion dollar, deficit spending SwindleUS Plans I, II and III were a complete failure and did not create any new private sector jobs.   Those SwindleUS monies were just a big boondoggle used to pay off federal and state union employees feeding at the trough.   Is this Obama's promised "hope and change"?  If so, it really stinks and looks more like a Depression than a Recession.    This Blogger is surely Depressed.

The private sector is sitting on two trillion dollars in cash, rather than making investments in the United States, because of all the instability and uncertainty caused by Obama's tax and regulatory fervor.   We are all sufferring from Obama fatigue as we go from one Obama made crisis to another.  We have no energy plan.  In fact, Obamanistas in the Environmental Protection Agency are doing everything they can to close down both carbon based and nuclear energy in the United States costing millions of jobs.   Obama's National Labor Relations Board is attempting to unionize America to the detriment of American business.   Obama has grown the federal government to 2.65 million civilian employees, or 25% of GDP by hiring even more union public employees, providing them compensation and benefits that are 20 - 40% higher than is common in the private sector for comparable jobs.

Finally,  though Moody's, the rating agency, has not yet downgraded the US triple AAA credit rating, they have rated the US as having a "Negative Outlook" to fire the first shot across the bow that a downgrade is coming.   This is happening because the markets wanted to see at least $4 trillion in spending cuts out of the National Debt Ceiling deal debacle.  At most, it looks like perhaps $2.4 trillion might be cut over ten years, if in fact it ever happens.   If we don't stop the fiscal insanity, this spending cut will still result in adding $7 - $8 trillion to the National Debt in the next ten years.   The markets are indicating that they will never tolerate that level of additional debt.   Obama and his Socialist pals in Congress are bankrupting the United States.   We can't let that happen.

WE THE PEOPLE must take action by making Obama a one term President in 2012 and throwing his Socialist pals out of Congress in 2012 and 2014.  We just can't afford another four years of incompetent Obama, the job killer.  It is bad enough that many of us survived Jimmy Carter.  Obama is Jimmy Carter II.  Enough is enough.  Many of these corrupt Socialist characters in Congress should be in jail, not in Congress, for causing the financial meltdown we have experienced in the last few years.  The markets have voted no confidence in Obama and the Socialists in Congress.   Now we must go to the polls in 2012 and 2014 to vote no confidence, as well.   We must take back our country in 2012 and 2014.   We can do it.   We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren. 

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