The $700 Billion Bailout is Good for the Economy
There is a lot of hemming and hawing regarding the proposed $700 billion government bailout intended to purchase bad mortage loans in an effort help mitigate the worst imaginary financial crisis in the past hundred years. Not surprisingly, the boo hoo hoo pro-Obama liberals are opposed to such measures on the grounds that tax payers shouldn’t cover the tab for reckless lending behavior, and that the bailout would add to the national deficit.
This opposition to the bailout plan is yet another example of the socialist, pro-Obama liberals trying to interfeare with whats best for the US economy and the free market. Printing money is good for the economy and wallstreet. Thats why we need to bailout these financial institutions and later invade Iran in order to drive the dollar lower, and the price of oil and other commodities higher. Rising commodities and a falling dollar benefits numerous export heavy sectors such a technology, energy, and industrials. The war in Iraq created a huge national debt, but since 2003 when the war began the S&P 500 surged from around 900 to a high of 1560; a gain of over seventy percent lead by energy, technology (Apple, Google, Rimm) and defense stocks.
Rising oil, food, and gas is good for credit card companies, too. Everyone wins when there is more inflation and debt. Companies report more revenue, real wages go down, GDP rises, and stocks go up, which is good for wallstreet and working Americans. Rising unemployment coupled with inflation is also good for the economy because it indicates a labor shift from low tech jobs to high tech ones. Google for example increased its total employee count from 5,000 in 2004 to over 15,000. Facebook, which didn’t exist five years ago, now employs 500 people. Twitter, another web 2.0 start up, has a rayroll of 150 computer scientists. This is real job growth that you won’t hear about from the boo hoo hoo, anti-free trade, anti-outsourcing, Obama liberals who are preoccupied with factory closings.
Also consider that the US government took in $2,518,680,000,000 from 168,808,955 tax returns in 2006 source.
$700 billion dollars is less than thirty percent of yearly taxpayer income. Furthermore, $700 billion is just seven percent of the total national deficit. One of the reasons that the US can incur so much debt is because the US government brings in so much income from taxes. And the resulting gains in the stock market make it all the worthwhile. The DJIA surged from a low of 10,600 last Thursday to a high of around 11,400 in just two days on news of these bailouts and SEC restrictions on shorting. Imagine how more the market will rally when the $700 billion bailout is approved by congress. So in actuality $700 billion seems petty when you put it in perspective, especially when you consider the economic growth that would stem from this bailout. This is why we need to give Paulson our heartfelt support and get this bailout approved as soon as possible.
Obama Set to Debate McCain in Mississippi (and lose)
If there are two things liberals a good at it is complaining and losing. Liberals constantly bemoan the imaginary credit crunch/crisis, the fake recession, the non housing bubble, the rising oil, the rising gas prices, the rising consumer debt, and the war in Iraq ‘going on too long’, are just a handful of examples.
Liberal politicians are also adept at losing, a skill that will be put to test when Obama debates McCain on September 26th at the University of Mississippi. This will be the first debate between Obama and McCain, and therefore the stakes will be very high and the media coverage will be intense. The obstacles that Obama faces in this debate are the same that he encountered during the Rick Warren interview, which is that Obama gives rambling, scholarly answers that are heavily laden with liberal, anti-American, socialist rhetoric. Also working against Obama is the fact that McCain is a war hero and good American, while Obama and Michelle belittle small towns people who cling to guns, religion, and the constitution.
For the past six months McCain has been conveying his energy, economic, and foreign policy solutions though his townhall meetings. Obama, on the other hand, was busy calling people bitter while shopping for Arugula at Whole Foods. Numerous times McCain offered Obama the opportunity to debate him in one of these townhall meetings, but Obama refused. Why? Because Obama’s platforms are innefective, socialist, and anti-free market.
During the debate McCain will crush Obama on the issue of Energy. Obama has no solution to rising gas and rising oil while McCain supports offshore drilling and nuclear power. True, the oil may not be on line for ten years, or that the rigs are unsightly and detrimental to the environment, and the increase in supply may only shave a nickel off the price of gas, but that doesn’t matter. Atleast McCain is offering solutions, which is resuring to voters. Voters want defense/security (Invade Iran), more money (tax cuts for the rich), family values (teen pregnancy), and gas tax hollidays. They don’t care about such trivialities as the environment, rising deficits, or wire tapping.
There virtually no way Obama can come out ahead in this debate and the election. Perhaps if Obama changed his platform to support all forms of oil drilling such as opening up the Alaska Wildlife Refuge, advocating teenage pregnancy, giving tax breaks for oil companies, invading Iran, and raising the deficit to bail out financial institutions he could resonate better with working, hard-working Americans, white Americans. After all, as I wrote yesterday huge bailouts are good for wallstreet, middle America, the economy, and the free market. And Hillary DID win the popular vote. According to the polls it’s proving to be fortunate for McCain that Obama still doesn’t get it.
Market Surges. Ned is Right Cause Ned Knows Everything
I blogged yesterday that the bear market of 2007-08 had bottomed out while the dow was trading at 10,600. As of this afternoon Jow Jones Industrial Average is up a staggering 800 points since I made my call. Predictably, protectionist, pro-Obama, anti-freemarket liberals are heavily criticising Paulson’s bailout plans and the SEC bans on shortings. More importantly, however, is why was Ned right.
Ned was right because Ned knows how stocks work and how the markets work. Ned sees things other overlook. When Ned say it is time 2 buy he is usually right. Ned knows we’re in the smartist, globalist era of web 2.0, hyper-capitalism, free trade, spendism, consumerism, and paymentism lead by The Creators of the new world order. Ned knows that McCain is going to win and that that the stock market will react favorably in anrticipation to McCain’s victory. (Read Ned’s smartist era Q&A here to learn more)
The goal of The Creators of the new world order is to lead humanity’s transition to a type one civilization. In order to perpeturate this outcome it is vital that the Ben and Paulson continue to bail out financial companies and impose bans on shorting and possibly impose bans on placing sell orders to ensure that stocks go up, the dollar falls, food, gas and oil prices rise, and the wealth gap widens. This is good for free market capitalism and the economy. A falling dollar and rising inflation benefits technology, commodity, and credit card stocks, and middle class Americans.
We need to elect McCain who will perpetuate the war in Iraq and invade Iran. If wallstreet isn’t bailout out the type one transition will be delayed and the smartist prophecy won’t be fullfilled. And when wallsteet prospers so does mainstreet. But you won’t hear that from the doom and gloom woe is me Obama campaign who are opposed to economic growth and want the government to interfeare with the free market.
It is confounding how these lefties have the audacity to criticise Pauslon. Paulson does care about the best interest of Americans and the economy. Instead of complaining people need to continue to keep spending and do their patriotic duty of voting for McCain on November 4th.
Google stock is surging again. I HIIIIGHHLYYY recommend buying google. Google and Facebook are leading the transition to the type one civilization. And Facebook is still worth $30 billion and Web 2.0 is not a bubble.
My target is 600-650 easily.
And in one decade: $4000 a share
AND MAYBE $14,000 LATER
google will have a market cap of 3 trillion
And control all media through all mediums on plant earth
And revenue will be bigger than all other media and internet companies combined.
100 billion yearly revenue. Market cap 1-3 trillion.
I KNOW EVERYTHING
~~~~~~~~~~~~~~~~~~
W3RD
h4X0RzzZ 3p1C_F41LL
I’m Calling An Official Bottom
I’m going out on a limb by calling an Official Bottom to the the 2007-08 bear market. Typically bear markets last only a couple years and lead to a 30 percent retracement, and we’re close to those markers.
Here is screenshot of the nadir:
As I wrote many times before the US economy is fundamentally strong and a McCain victory is certain. Stocks will rally in the coming months on the prospects that a McCain victory will continue George W. Bush’s successfull pro-growth, pro-wall street economic innitiatives. Contrary to the boo hoo hoo liberals George Bush was good for the economy and stock market. The S&P surged from 800 a year after he took office to a high of 1565. It is still well above 800.
When Bush invaded Iraq in April 2003 stocks entered a bull market that lasted until october 2007, on the heels of a cheaper dollar, increased exports, and rising commodity prices. McCain will likely invade iran, which will create a catalyst for a repeat of the last bull market. Oil will hit $200, the dollar will crater, gas and food prices will surge, and globalist, smartist stocks that benefit from a cheap dollar and exports such as Google, Apple, Rimm, Potash, and Mastercard will lead the market substancially higher.