Posted by
RepublicanEvangelist on Tuesday, February 17, 2009 6:34:07 PM
While I do believe this is probably the best thing that could have happened to the Republican Party, it is a disaster for the country. This will not work and will only crowd out credit and accelerate our demise as a country. This is like that overweight person who is going to have their stomach stapled so goes on an eating spree before the operation. Here unfortunately there are no budget staples on the horizon, only the demise of the dollar and the country. Right now the market is reacting to Barack Obama. It was off nearly 300 points today as Obama signed the bill into law. Barack Obama can't be blamed for the state of the economy. He did inherit an economy with serious structural problems. The investor class makes decisions six months, a year, two years out. The market has looked at his economic team and his plan for recovery and after carefully weighing the information has decided to panic. The investor class has zero confidence in his plan, his team and Obama himself to pull us out of our current downward spiral. In fact it would be better to do nothing at all than do this. Economic cycles eventually turn around. President Obama and the Democrats have ensured that we remain at the bottom for a long time. My favorite word for it comes courtesy of Monica Crowley, "we are witnessing the Barackalypse."