Lehman Going Under; Stock Market Will Surge Anyway
Reportedly bank of America is no longer buying out Lehman brothers and it is now a very strong possibility the investment bank is indeed going under. Whoop dee doo. I could care less because regardless of the outcome the market is still going to surge higher.
If Lehman does fail its business will be scrapped and more financially stable investment banks such as Goldman Sachs will take over Lehman’s clients. Thats the way free market capitalism works. When one business fails competing businesses with better management fill the gaps. However, should the fed intervene and bail out Lehman the market and commodities will surge and the dollar will fall.
Any pullback in the market tomorrow will be short lived. The buyers will step in upon realizing that McCain will be our next president and that weak dollar, pro growth policies under the Bush administration will be perpetuated. George Bush is a cheap labor republican, unlike Nixon and Herbert Walker Bush, and cheap labor benefits globalist companies and the stock market. No need for expensive American labor when the jobs can be easily outsourced and insourced. As usual stocks that benefit from cheap labor, deficits, globalism, and a falling dollar such as PCX, EWZ, GOOG, RIMM, AAPL, BTU, POT, MA, MOS will lead the market higher.
The McCain rally is real. No need to over analyze when you can just buy and make money.
Fake Recessions and other Obama Nonsense
Obama is quoted in a speech in Manhattan “As most experts know, our economy is in a recession..” Hmm last time I checked the economy wasn’t in a recession because there hasn’t been yet a SINGLE quarter of negative GDP growth since 2001. A recession is formally defined as two or more negative quarters of GDP growth, yet there haven’t been any. This is just one of many of examples of the Marxist boo hoo hoo Obama spreading misinformation about the state of the economy to mislead voters.
Phil Gramm famously said we were in a mental recession, and while the boo hoo hoo democrats accused him as being ignorant and out of touch with “struggling Americans”, the comment had absolutely no negative affect on the McCain campaign in terms of polling, nor did McCain’s lapse regarding the number of homes . In fact, McCain’s poll numbers kept marching higher because Phil Gramm was indeed right, as I alluded to; we are a nation of crybabies (at least the pro-Obama liberals are).
Recently Obama’s campaign blasted McCain in a TV ad regarding his inability to remember how many homes he owns while using the ad as a backdrop to impart his empathy for the so called ’struggling home homeowners’; (Who ever these folks may be. I have yet to meet any. ). So why didn’t so called ‘housegate’ gain more traction? Why hadn’t his ads had any damping affect on the polls? The reason is because there was never a housing bubble or housing crunch to begin with. For the most part housing prices have been rising steadily for the past two decades, and while there have been isolated booms and busts on average the trend is up. Aspen, Palo Alto, and Manhattan are three examples of regions where home prices have been steady appreciating. Foreclosures only make up a tiny fraction of total mortgages. So while Obama habitually about a ‘crisis’ the opposite is the case.
The McCain Britney/Paris ad was a brilliant success because it was factual and did resonate with Americans regarding Obama’s and Michelle’s aloofness and celebrity status. This sentiment was compounded by Obama’s grandiose Reichstag speech, in which he appeared to display an undying affection towards the Germans as opposed to the bitter Americans. Too bad it’s the bitter Americans, not the Germans, who can vote.
McCain’s Intrade Numbers Overtake Obama’s For The First Time Ever
The deterioration of the Obama campaign continues. For the first time ever Obama’s intrade numbers have been surpassed by McCain. Obama’s numbers have fallen 20 points from a peak of 67.
Obama’s numbers peaked around June 23rd before taking a dive:
But as usual Ned is right cause Ned knows we’re in the smartist era of spendism, consumerism, globalism, hypercapitalism, and web 2.0. Obama is a welfare liberal that only appeals to African Americans, college students, and wealthy white liberals. I suggest to him that he ‘drop out’ and let Hillary take over since she has the support of working, hard working, white Americans, unlike Obama. That demographic is crucial to winning elections.
But this outcome was innevitable. I wrote that Obama would lose months ago and that appears to be the case, especially with the ever growing momentum generated by Palin.
Contrary to popular belief, McCain has mastered the internet to a fuller extent than Obama. Even with the aid of liberal websites such as Huffingtonpost.com and Moveon.org, Obama is still polling behind McCain. McCain’s Britney/Paris negative ad has been viewed on Youtube more than any of Obama’s ‘change’ speeches. McCain could pick his nose and it would get full media coverage and a million Youtube views, while Obama would have to give a speech to garner the same attention. Thats proves that McCain, not Obama, is the true master of the internet. McCain doesn’t need to text message or twitter. He can just kick back and let the press and bloggers do all the work.
The McCain Cheap Dollar, Global Growth, Rally Begins Today
Google stock is up a staggering 20 points today. Mastercard is up $10. Potash Corp (POT) is up $8. This is the start of the McCain ‘falling dollar’ , global growth rally. In the coming weeks stocks and ETFs that benefit from a falling dollar and globalism such as GOOG, AAPL, MOS, POT, IPI, KOL, EWZ, PCX, BTU, RIMM, BIDU, MA, and V will surge. Now is the time 2 buy. You can’t fail because the new era is here. Obama will lose, global demand for resources such as oil and coal is huge. Million of peopel all over the world using web 2.0 technologies. McCain supports NAFTA which is good for EWZ. The culminations of a McCain victory and a cheap dollar and free trade will usher in a monster rally that began today.
Obama’s Intrade Numbers Tank, Smartist Web 2.0 Era is Here
As November 4Th nears it is becoming increasingly probable that Obama will indeed lose to McCain, as I have been predicting on Iamned.com for the past several months now. We’re still in the smartist, globalist, new world order of economic and financial perpetualism, and in such circumstances radical liberal, isolationist, protectionist, anti-fee trade candidates like Obama CAN’T win elections.
According to Intrade Obama only has a 52 percent chance of winning, a 15 percent decline from his peak. McCain’s numbers have surged from 31 percent in early June to 47 percent. Meanwhile, polls are showing McCain with a four point lead over Obama, thus erasing any post convention bounce Obama received. This doesn’t come as a surprise as I have been predicting such an Intrade reversal for months now.
But shouldn’t Obama be polling better? After all Bush’s approval ratings are at record lows and the economy is in a great depression according to Obama. And the Iraq war is a waste of human and financial resources and the deficit is out of control. The bitter small towns people who cling to guns, religion, and the constitution want change.
Quite the contrary. The pro-Obama boo hoo hoo liberals are wrong now as they have been since 2004. Rising deficits are actually good for the economy because they dive the dollar lower, which benefits exporters and large cap tech companies such as google, Cisco, and Apple. Defense contractors, industrials, and energy companies also benefit from Millay spending and a falling dollar. Credit card companies such as Visa and MasterCard also benefit. Rising commodities are also bullish for the economy and stock market because energy and mining stocks such as Cleveland Cliffs, Potash Corp, and Patriot Coal see increased revenue. People don’t mind paying five dollars a gallon for gas or six dollars a gallon for milk because those good are considered inelastic.
Michael Arrington’s Techcrunch 50 is currently underway in San Francisco. No mental recession there. No one complaining about the rising tuition, the rising gas prices, the rising oil, the outsourcing, the insourcing, the falling house prices, the falling dollar, the growing wealth gap, or the ‘Iraq war going on too long’. The attendees of this convention know that the new smartist, globalist, consumerist, hypercapitalist era is here and they are choosing to embrace it instead of fighting it, as in the case of the Obama. Currently we’re in a second Internet boom in the Silicon Valley under the moniker Web 2.0, but the boo hoo hoo, wellfare Obama liberals who are against free trade and globalism are still bemoaning an imaginary recession, a housing bubble, a fake credit crunch, and a non-existent liquidity crisis. They are are same pessimists who call web 2.0 a bubble when it isn’t. Facebook is worth $30 billion, and Twitter is worth $5 billion, and these valuations are very reasonable.
Home prices in the Bay Area continue to surge, as well as other areas such as Manhattan, Beverley Hills, and Aspen. No housing bubble there. Million of college students are maxing out credit cards and logging into Myspace, Facebook, and Twittering. No recession there. How can there be a liquidity and credit crisis if people are still able to max out their credit cards? There is still huge credit and tons of liquidity.
McCain’s victory is inevitable, and soon after being sworn into office he will invade Iran and perpetuate the occupation in Iraq. Oil will surge, the dollar will crash, food & gas prices will surge, and the stock market will rally. Large cap, globalist tech such as Google, Apple, and RIMM will lead the way. McCain is for NAFTA and cheap labor, which benefits commodity stocks and energy stocks. Boo hoo hoo I can’t find work because all the jobs are going away. Boo hoo hoo I maxed out my credit card to buy groceries and gas. Too bad. McCain isn’t complaining, nor is Michael Arrington of Tech Chrunch. The globalist new world order is here, McCain will win, the borders will be opened, and the manufacturing jobs are never coming back.