Today was certainly not what the Democrat Party ordered: a huge market rally.
After a very tumultuous week on Wall Street, the market saw the biggest rally in six years today with the Dow up more than 400 points.
Obama and the Democrats would love nothing more than to see the Dow below the 10,000 threshold come November 4th. They have done nothing but invoke fear and uncertainty regarding the market since economic growth slowed. Using words like "crisis" and "catastrophe" as well as invoking several allusions to the Great Depression, they have run an economic campaign solely on fear tactics.
They claim the GOP scares voters when we discuss the very real threat of terrorism with the American electorate, but the Obama camp goes to the extreme when they exaggerate the economic problem and fill voters' minds with rhetoric that leads them to worry about their financial stability.
Today was a sure win for the principles of free-market capitalism and confirms John McCain's statement earlier in the week for which the liberals sought to crucify him: "The foundation of our economy is strong".
A single day rally does not change the undeniable fact that markets have taken a downward turn recently, but the surge is reason enough not to resort to all-out panic in the manner the Democrats want us to.
Today dealt a serious blow to Obama's credibility.
His campaign is surely working overtime on spin control tonight. But as he has done countless times in the past, I am sure he will manage to flip-flop his position without the media even batting an eye.
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2 comments:
Your comments are completely ignorant to the facts. The market made a huge rebound, late, after news that the Government was going to bail out bad debt that banks a carrying on their books. This is the type of intervention you free market(anti regulation)republicans hate. Its big government to the tune of 1 trillion, but it is absolutely what this crisis which is the worst since the great depression needs. It is our best chance to avoid another depression but there is nothing free market about it. I like what John McBush said today that we should fire the SEC chairman, but I would take it one step further and fire the whole republican administration, which has gotten us into this mess.
The democrats are hoping for the economy to fail and they have been very clear about this. It is the only way they think they can win.
The problem is it is the dems that got us into this mess. The stock market is having problems because of programs the Clinton Administration implemented. In an attempt to avoid any "profiling" of loan applications the rules regarding loans and what information could be used to determine approval of the loan was severely relaxed. So people who had no business getting loans and no way of paying them back were allowed loans. Now we are paying the price for loans given to people that never should have qualified for them. The bleeding heart liberals love to think everyone deserves a home and we should all be treated equally regardless of our ability to pay them.
Fannie Mae and Freddie Mac had the democtats in their pocket paying lots of money to have them look the other way as they were clearing struggling and getting themselves in a situation that was going to be explosive. Who was one of the biggest recipients of their hush money? That is right the Dems favorite son Obama.
Obama's economic policies will fail. They don't make sense and his running mate announcing we should be patriotic and pay more taxes is idiotic. You don't want to throw the wealthy people of this country under the bus. They pay the majority of the taxes and making them poor so everyone can be on a level playing field will not help our economy. Anyone hear of socialism?
So dems can throw out phrases like McBush, but this isn't Bush's fault. He inherited this mess from the Clinton Administration. In much the same way he was thrown into the 9-11 problem along with our entire country because Clinton fell asleep at the wheel or was too busy playing with his interns rather than making sure our enemies weren't getting ready to attack us.
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