St. Patrick's day, March 17-- America's favorite traditional, non-official holiday.

And going back to March 17,1976, it was a St. Patrick's day to remember for all investors, when on that day the Dow Jones Industrial Average rose 13.78 to 1009.21, and actually closed ABOVE 1,000 for the first time.

Yes laddies, the green beer on Wall Street was flowing in abundance on that storied St. Patrick's day. It touched off a wild wave of optimism: Brokerage houses across America, whose staffs had been withered down unrelentingly in a grinding 3-year bear market, were now beginning to hire again.

Spring 1976 was indeed a time for optimism in America:

The Alaskan pipeline was well underway, and was creating a new frontier of jobs above the Arctic circle. In the lower 48, large industrial companies were gearing up for new production, as orders for capital goods came pouring in.

GM was only 3 months away from introducing its brand new, beautifully designed "B- Body" line of cars that auto pundits predicted would be a huge success . The classified ad pages were expanding. It seemed as though everyone at once was starting to hire.

College grads and Phd's--who were working as gas station attendants and waiters-- now were getting replies to their resumes, as jobs offers in their fields of study actually began appearing in their maiboxes.

For the U.S., it was good times ahead after a terrible, frightening 3-year recession, that had seemed like it would NEVER end.

But then in November, 1976 came the election of James Earl Carter; and like a plane with a unconscious pilot at the controls, America's economy began another downward spiral to yet another teeth-clenching, gut-wrenching recession.

On the day after New Years, January 2, 1980, the Dow Jones had closed at a pathetic 824.57. In early 1979, inflation had reached a startling 11.3%, and by March,1980, it had soared to 13.5%. And interest rates dealt the final coup de' gras to Carter's economy, rising from an abysmal 11% in 1979, to an agonizing, staggering 19% by Jan 1981.

It was the first time in history that all three indicators simultaneously had been in such distress, and a new term emerged to define the debacle --stagflation.

But although Carter's ineptness ruined the economy, let give him at least SOME credit-- he had done it passively (unintentionally). And he did possess SOME business management expertise, because our beloved 39th president actually had spent much of his life running the family peanut farm in Plains, Georgia.

But now, we are under the wonderful economic tutelage of Barack Obama, our know-it-all, supremely confident anti-president, who professes to have all the answers to revive our grievously wounded economy.

But unlike Jimmy Carter, Mr. Obama has never run anything in the private sector, not even a Koolaid stand as a child in Indonesia, or even so much as a paper route during his adolescence in Hawaii.

Attention Wall Street... look out below!

Yes, Mr. Barack H. Obama-- the Harvard-educated lawyer--he's got all the answers... all the spiffy retorts...and all the solutions. Got a foreign policy problem? Blame Bush. Got a problem with high deficits? It's not his fault-- that too started with the "Boosh" administration.

Yes, Barack's an expert at blaming everyone but himself. He's just so smart; so prestigious, and "too cool for school." Plus the leftist media will support the his infallibility "to the bitter end"-- and it may get here sooner (2012) rather than later (2016).

Just you wait there a-while, Mr. Obama.

Our radical leftist 44th president may be facing a little surprise ahead, and it's the one thing he hadn't figured into his Machiavellian plan for ensnaring our fragile economy within his mega-government web of Socialism.

Mr. Obama can seize the auto industry, ransack the banking industry, tax the energy industry to oblivion, control the health care industry, plus whatever else the congress is willing to cede to this insatiable fascist.

But the one thing that our anti-president didn't figure on, is something immune to his politics, immune to his personality, immune to the slanted liberal media--even immune to congressional legislation:

The one economic indicator that cannot be fudged, manipulated. spinned (spun), or misinterpreted, can be found on Wall Street -the NYSE--the "home" of the Dow Jones Industrial Average.

(music)"Oh give me a home... where Obama can't roam..."

Right now Wall Street "experts" (propagandists) claim the Dow is on a roll--recently closing above 8000-- up over a thousand points from just a few weeks ago.

But in the parlance of the insiders (who really influence market direction), it's nothing more than a "sucker rally"-- the result of tens of thousands of solicitations by individual brokers trying to earn a living, "jaw-boning" hapless small investors to..."Hurry up, now is the time to get in before the next big move up."

The next big move up? Somewhere out there Gordon Gekko must be smiling.

But is now the time for greed on Wall Street---or fear?

With all those stellar economic events lurking on the horizon, the real insiders (the "smart money") knows that the market has nowhere to go but down--way down--possibly to 4900 in the next 18 months.

And no wonder. Wall Street and the market ALWAYS looks out ahead 18-24 months; that's why the insiders make the money that small investors unwittingly yield to them, as they buy high in unrealistic optimism, and sell low in panic.

It's always been that way on Wall Street...except for now.

As we look out ahead for the next year or two, it may be a long time coming before ANYONE (either a smart-money insider, or average Joe investor) ever sees these levels in the market for another 20--30 years.

But why?

The American economy has never before experienced what's on the horizon-- the intentional destruction of our free markets-- courtesy of our know-it-all (except for Wall Street) anti-president, Barack Obama.

Let's take a quick economic inventory of what's in store for Wall Street (and Main Street) in the next 2 years:

-higher income taxes--less disposable income for consumer spending
-higher business taxes for both small and large companies
-more government regulations for both large and small companies
-higher energy costs
-dollar inflation from rampant deficit spending
-cap 'n trade carbon taxes on energy
-card check (forced unionism) which will drive up business costs for everyone
-high unemployment--the result of clean air regulations on heavy industry
-higher energy costs for electricity- i.e. clean air penalties for coal-generated power
--higher corporate taxes for American companies doing business overseas
--more IRS audits driving U.S. capital offshore-- less domestic business investment

The Obama administration (regime) has a 5-year plan--it's all been figured out. Tax all fossil fuel energy. De-industrialize the Midwest and the South, where they burn coal. Force the auto industry to make cars nobody will buy. Force the banks to accept unnecessary bail-out capital, and then decide to whom they may lend it.

So expect a rapid transformation for private business from the free market to a government-planned economy, where you'll still own it-- but Big Brother now runs it!

And how do you think Wall Street will react to this? The same way it did from 1933 to 1945-- the last time a socialist president assumed total control, where the government can introduce itself any time, anywhere, into the private decision-making apparati, and levy restrictions on what private enterprises will be able to do within their own boardrooms.

EXAMPLE: Recently King Obama "summoned" all the credit card companies to Washington to tell them..."you can no longer 'overcharge' your customers." So just where in the Constitution is the president allocated the power for that? And where was the outcry from the private sector against it?

Now an emboldened Obama will soon be telling banks what interest rate they can charge, what private companies can produce, what type of workers (union) they can hire, how much they can produce--and at what price.

Is this a free market...or economic fascism?

So the Dow-Jones to 4900? Why not, as Obama's economic fascism takes hold and begins to strangle everyone's bottom line.

What effect will it have on the heavy industrial companies and energy companies? And what will happen to the transportation industry, the small business community, and the individual taxpayers themselves?

It's all so very simple: As government controls and regulations go up, everyone's bottom line will go down-- way down-- and taking down the stock market, our economy, our 401K's, and dashing the hopes and dreams of everyone who had the outlandish notion that they could some day become financially independent.

And now, it's all about to be dashed upon the rocks of Obammunism.


www.keenobserver.blogtownhall.com

Last fall, before the general election, pollsters described the "battleground" counties surrounding Philadelphia as "very much in play." And historically, the Philadelphia suburbs have been 'red areas' for generations, although occasionally they had gone blue and voted for Democratic candidates in the past (Clinton '96).

During the Pennsylvania primary in April of '08, only two of the four suburban Philly counties - Bucks and Montgomery - had polled more registered Democrats than Republicans. But by the time of the November 4 general election, it would prove vastly different.

The hotly-contested state of Pennsylvania would swing at an October town hall meeting held at Radnor Middle School in Wayne, Pa, where Obama opened up the door to winning not only the heavily-democratic city of Philadelphia over John McCain, but ALL the surrounding counties as well.

As September turned to October, Obama slowly began to surge in the largely affluent 'soccer mom', white-collar suburbs, as many voters began crossing over to his promise of "change." And many were gathered at Radnor Middle school back then to hear the great orator speak:

"For the last eight years, we've failed to keep the fundamental promise that if you work hard, you can live your own version of the American Dream," Obama railed at the townhall meeting...."But instead, people are working harder and harder just to get by."

Yes, the beguiling (although misleading) rhetoric had inexorably taken hold.

Obama had succeeded in creating a common enemy--George W. Bush--and the "Great Distractor" basically nailed the entire election at that fateful event, painting Bush as public enemy #1, and as if Dubya was the one running instead of McCain.

Suddenly, many of the suburbanites-- totally disgusted with Republicans in general--began to tune in with Mr. Obama; and the polls leading up to that November 4 showed that he had opened up an amazing 9-point lead over his rival.

Here is a sample of the political climate back then:

Scene-- last October, '08-- a telephone poll in an affluent Philadelphia suburb:

Pollster: "Good morning sir...I'm polling for the upcoming  election; do you have a preference for the presidency?"

Suburban Voter: "Your **!**!#* right I do! Before you go any further, I want to tell you that after what's happened to me, I think we need a change--a big change! And the heck with this "country first" stuff  of John McCain-- all I care about is gettin' even with that **^!*#-!!**!!* George Bush!"

Pollster: We sincerely thank you for expressing your opinion...good bye."        (END)

Indeed, Obama, the Great Distractor, had triumphed. And the rest is history.

As the revered Aristotle once said: "Anybody can become angry-- but to be angry with the right person, and to the right degree, and at the right time, and for the right purpose--that is not easy".

Too bad ole Aristotle wasn’t working for the Republican campaign. He may have saved the day.

But most of America had taken the bait. Obama had painted the election as a mandate against George Bush, as anger caused suburban Americans to take leave of their senses, and ended up voting against their own best economic interests.

And in the parlance of Rev. Jerimiah Wright: "the chickens have now come home to roost"-- the economic chickens-- as The Federal Reserve recently reported that households lost $5.1 trillion, or 9 percent, of their wealth in the last three months of 2008, the most EVER in a single quarter in the 57-year history of record keeping by the central bank.

Cluck cluck.

This calamitous loss of wealth is staggering--much of it being comprised of a falling Dow, a plunge in home prices, and badly-shrunken 401K's-- which will undoubtedly "sentence" many suburban Americans to ten extra years of (hard) labor in the workplace, as they postpone retirement, and second guess themselves for their irrational exhuberance of anger against George Bush.

Yes-- now that they think back--maybe those greedy tax cuts "for the rich" weren't such a bad idea after all, as people face the prospect of the loss of their itemized tax deductions, and the attack of Generalissimo Obama upon whatever of their remaining assets he can plunder.

Even the richest have become a lot poorer. The wealth of Warren E. Buffett, (Obama's fallen economic guru) has tumbled an astounding $25 billion, from 62 to $37 billion. And if it gets any worse, maybe Buffett will be seen checking out price tags at Walmart, like many other "formerly affluent" suburbanite Americans.

Obama calls it "skin in the game"; but we'll call it, the "Reverse Wealth Effect".

Tobias Levkovich, the chief U.S. equity strategist at Citigroup, recently weighed in with his analysis of the losses of the top 20 percent of income earners: “When their wealth is mauled, they are not particularly interested in spending.”

Very profound Toby...we'd have never been able to figure that out. Give that man a bigger bonus!

And the decline in the stock market just since January 1 has erased another estimated 4 trillion MORE from the country’s collective net worth. So do the math. Since last November, the United States has become poorer to the tune of almost 10 trillion dollars-- and the losses could continue on indefinitely.

So it's no surprise that Walmart, Family Dollar, and McDonald's shares are surging, as people look for whatever ways they can to fight back against the onslaught of Obamanomics.

A Tampa Florida former CEO of a hedge fund has felt the sting of Obamanomics: he's plummeted from a six-figure salary to earning $7.29 an hour as a pizza delivery man. His family had been living the suburban American dream, nestled in their 4,000-square-foot home that sat on a golf course. Now they all reside in a $800/month, two-bed  motel room, and sleep in shifts.

A former Chicago industrial engineer, (now unemployed) recently applied for a $11/00 per hour janitorial position, only to be dismayed that there were 600 other applications ahead of his.

In Atlanta, two weeks before the opening of a new Super Walmart, an estimated 4,000 people stood in a serpentine line stretching a 1/4 mile around the parking lot, applying for 275 part-time and full time positions, with many of the people waiting as father-son-daughter family members, and were ironically competing against each other for the jobs paying a 7-9 dollar per hour wage scale.

So, can it get any worse? Any sign of hitting bottom?

The recession is already in its 15th month, making it longer than all but two downturns since World War II. The Dow is hovering around 7000, but will it hold-- or head lower?  Jobs continue to disappear, and one in eight American homeowners is in foreclosure, or behind on payments.

Economists are watching an array of statistics--some of them buried deep beneath the headlines-- to spot the turning point, such as a rise in metal prices, or a pop in the Dow Jones transport index (which would portend a bottoming); but no signs of anything yet.

Investors will be alert for turnarounds in housing, lending, employment, plus signs that consumer spending has picked up. Then market players would be more likely to move their money from safe havens, such as gold, or municipal bonds (or even their freezers), and back into stocks.

But for the average suburbanite, it may be a long time before they can make up their lost fortunes-- and for many it may be never-- as they lament the "change" brought on by Obamanomics, and the "skinning" they've received since Mr. Obama came to town, which has cost America an estimated loss of 2 trillion a month-- the most expensive 150 days in U.S. history.

www.keenobserver.blogtownhall.com

My-my-my...another day; and another two-hundred point drop in the Dow-Jones Industrial average.
 
And ever since Nov. 5, the day after the election of Americas 44th president (who's become our first anti-president), the Dow has dropped in a fashion reminiscent of the 1930-1932 period, when Americas business community was first confounded by a bumbling chief executive-- Herbert Hoover--who like Obama, inspired zero confidence on Wall Street with many confusing, nebulous political decisions; amounting to what was, in effect, a defacto anti- business policy.

And who can blame Wall Street, which despises all the confusion, uncertainty, and equivocation coming from Washington like we have now.

And confusion it is!
 
After all, wasn't it Obama who campaigned to the right of Hillary as some sort of hybrid moderate-liberal, jumping from one political position to another as the situation merited?

Can you say "mixed signals"?
 
Then during his honeymoon, Obama managed to convince the lapdog liberal media pundits that he would be a (hardy-har) "centrist". Meanwhile, back on Wall Street, traders were wondering...is this guy gonna raise taxes; will he jack up capital gains... tax dividends more heavily...socialize medicine... excess profit taxes? What?
 
And then after his inauguration, Obama turned the Ship of State left so fast that it may capsize-- sunk by national debt rising higher than "Old Faithful" in Yellowstone Park.
 
So can you blame the so-called "greedy" Wall Streeters for selling down the Dow? It's "Mayday-Mayday; I'm bailing out before the ultimate crash"!
 
Meanwhile back at 1600 Pennsylvania, Obama is doing his level best to literally destroy Wall Street at its very foundation -- the people who make up the firms that hold the seats on the trading floor; lampooning the group as though they were the dregs of society.
 
Obama despises success. He constantly rants about excessive bonuses...Wall Street greed...corporate jets...junkets to Las Vegas...abuse and fraud.
 
Instead of the war on al-Queda, Obama has chosen to make war on Wall Street.
 
So who can blame anyone for wanting to exit the stock market while they still have something left to sell? After all, if you were a large investor, or mutual find manger, they're surely saying to themselves, "Why would I buy stocks now?"
 
And while we're on the subject, if you were an entrepreneur by nature, you’d be saying, "Why would I want to start any business (bid-ness) now? No way"!

It seems as though the messiah thinks he could walk across the Potomac. And Obama is so intoxicated with his newfound chief executive authority, he feels that Wall Street should OBEY him rather than the ominous trends within the economy.

So now our anti-president is quite content to watch the Dow trend ever lower, dismissing it all (in the parlance of cool hand Luke) as a "failure to communicate"... (i.e., not my fault).

And of course, since our anti-president has mentioned the word "crisis" for what must be the 10,000th time, is it any wonder the market is in a slow panic?

Obama has a crisis for every occasion...the worst this, and the most severe that. "Not since the Great Depression"..."the most severe recession"..."we might not recover"..."trillion dollar deficits as far as the eye can see."

It's been Barack Obama's "make my doomsday" economy.

And then wham-- we get the passage of the passage of the $787 billion anti-stimulus bill, which so far, has done nothing more than to engender greater pessimism in the market.

Yes indeed, the hits from our anti-president just keep on coming.

And next in line for a battering are the entrepreneurs-- the surefire traditional source of America's pipeline to new jobs and economic growth. Without entrepreneurs, the messiah will never be able to lead us out from the desert of our current predicament.

It's only the entrepreneurs who have the gall to risk everything in a down economy, and possess the ability to level it off. Only the entrepreneurs-- the unsung heroes of Wall Street-- who initially founded all the small businesses that eventually grew to become the corporate giants whose stocks came to trade on the Dow Jones.

So don't forget; Apple computer started in Steven Jobs' garage; Microsoft was born in Bill Gates' basement.
 
Entrepreneurs have ambition- something that's being snuffed out in droves by the gloom and doom pronunciations from Washington. And right now, it's the entrepreneurs who see nothing but higher taxes on the horizon.

Yes; Obama seems to be working against them all, stripping them of their ambition, and their ability to find us a path back to prosperity in our rapidly changing, technology-driven economy.

Obama stubbornly opposes tax cuts -- dismissing them as unfair to the have-nots. Persuading our anti-president to eliminate payroll taxes (which discourage young companies), would be like the modern day equivalent of the discovery that earth revolves around the sun--it would indeed be quite a revelation to the messiah that tax cuts actually create jobs.

Many small companies don't hire full-time employees because of the payroll tax burden-- which inhibits economic expansion-- and the creation of new jobs.

But could Obama ever dream of making the tax system more forgiving for them, or provide them with the impetus to take risks again? Sorry-- this would be too radical of a step for Chairman Obama, and not within the realm of his ten-year plan.

But as the saying goes, when it comes to actually stimulating real job growth, you can't teach an anti-president any new tricks. Mr. Obama is someone who's never held a job in the private sector; nor ever managed anything-- not even so much as a paper route.

Yet Obama brazenly speaks of jobs- jobs- jobs. But he's decided to tax-tax-tax the very people who could provide them, the small bid-ness community.

And now, the anti-president acts as if he's doing the country a favor, pronouncing, "If you make less than $250 G's, you won't have to worry about a tax hike!"

Translation: "But you better worry about your job, 'cause I'm gonna stick it to the people who employ ya'll".

So true to form as our chief executive Socialist, instead of tax cuts for those who create jobs, our anti-president will tax them more onerously, further dragging down the economy, Wall Street, and the hopes and prosperity of all the people who crossed over to vote for him in the first place.

www.keenobserver.blogtownhall.com

Jan. 20, 2009-- for an entire day the nation stood spellbound. The whole world was watching. America inaugurated its first multi-racial president in history-- Barack Obama!

So now what? Well, first things first. Lets test our knowledge of just how much we know about our newly elected 44th president.

MULTIPLE CHOICE: 10 pts. each

Barack Hussein Obama was born on August 4, 1961 in which U.S. state or territory?  
a) Kansas
b) Hawaii
c) Guam
d) Siam
e) S.Vietnam
f) all of the above

From which African country did Obama's father hail?
a) Zimbabwe
b) Tanzania
c)  Kenya
D) Upper Volta
E) Madagascar
F) NASCAR

After completing high school, the young Obama moved to Los Angeles and attended Occidental College for two years. To which Ivy League institution did he subsequently transfer?

a) Harvard
b) Columbia
c) Dartmouth
d) Foulmouth
e) Martha's Vineyard

A week from today, newly-inaugurated President Barack Obama will probably order the closure of a military prison for suspected terrorists. Name that prison:

a) Abu Ghraib
b) Klaatu
c) Gitmo
d) Guantanamo
e) Geronimo
f)  The Alamo

Part II- FOREIGN POLICY

The U.S.-Iranian standoff has centered on fears that Teheran is seeking to develop a nuclear weapon. If Iran were to launch a surprise attack on Israel, how should Mr. Obama respond?

A) make a speech                                
B) negotiate
C) send a strongly worded letter
D) Appeal to the U.N.
E) Vote "present"
F) Turn The other Cheek

Under the Obama administation's new policy of disintermidation, if Osama bin Laden were captured, he would be...

A) interrogated
B) investigated
C) decontaminated
D) waterboarded
E) registered by ACORN to vote


In his first day in the Oval Office ,  President Obama called  the leaders in four Mideast countries;Egyptian President Mubarak, Israeli Prime Minister Olmert, Jordan's King Abdullah II, and Palestinian President  Abbas; the purpose of this call was to...

A) show solidarity
B) demonstratehis commitment to active engagement
C)express his hope for their continued cooperation
D) apprise them that Secretary of State Hillary Clinton isn't gonna take any lip


The situation in the Gaza Strip also presents an immediate challenge for Obama. If Israel continues its aggression, how should Mr. Obama respond?

A) seek a truce
b) appeal to the UN
C) appeal to UNICEF
D) declare Hamas illegitimate
B) broker a ceasefire
E) start a forest fire

Part III

President Obama's primary goal for the 21st century will focus on...
a) reversing climate change
b) renewable alternative energy
c) saving the polar bears
d) preventing nuclear proliferation
e) preventing forest fires

Barack Obama's new fiscal policy will be centered upon:

a) interest rates
b) the trade deficit
c) trickle up economics
d) Wall street
e) Baker street
f)  easy street

President Obama's most likely political opponent to emerge in his first term would be:

a) Senator Harry Reid
b) Newt Gingrich
c) Rudy Guiliani
d) Nancy Pelosi
e) Bella Legosi

The downtrend of the economy would be best addressed by Mr. Obama if he...
a) can create millions of new jobs
b) would cut taxes for the middle class
c) provide loans for small businesses
d) rebuild the infrastructure
e) deport all lawyers

Which new piece of legislation will Mr. Obama most likely sign into law?

a) the Freedomof InformationAct
b) the Freedom of Choice Act
c) the Global Poverty Act
d) House Res. 68: the establishment of an NCAA Division I Football Playoffs

Part IV- ESSAY: We know a lot more about Barack Obama than we did on Election Day, yet much about how he'll govern remains a mystery. Only decisions, not words, can clarify what Obama stands for. Write on these 3 questions that are still left hanging as the administration begins:

1)Will Obama take global warming into account in his decision-making processes?

2) Why are more Muslim extremists and terrorists happier about closing Gitmo than 
    most Americans?

3) How did Obama get killer Abs?
 
Well boys and girls, how did you do? Can you appreciate the great task ahead that President Obama is about to take on? In the next four years, he faces challenges not seen since the Great Depression in the 1930's.

But the American public stands firmly behind our new president. And since his electoral triumph last Nov 4,  Barack Obama is having a better honeymoon with the American public than any incoming president in the past three decades.

Yes, it's a story for the ages; and only in America...Barack Obama-- former community organizer and gifted orator, who got a law degree so he could enter politics, and address the social problems he couldn't solve in south Chicago -- is now the 44th president of the United States.

www.keenobserver.blogtownhall.com

In 1988, George H.W. Bush campaigned on a promise of no new taxes, and handily defeated Mike Dukakis, the hapless Massachusetts liberal, in a mini landslide.

But by 1991, the clever Tip O’Neil (then democratic Speaker of the House) convinced the conservative Bush that a tax hike was needed to "shrink the expanding deficit". So Bush, in "a spirit of cooperation", warily acceded to the idea. But the deficit only widened, and the economy got weaker as more jobs were lost.

And despite Bush's masterful performance in the First Gulf War, James Carville and the other Clintonians, skillfully outmaneuvered the Republicans with the famous, "it's the economy stupid" mantra; and exit polls revealed that voters had elected Clinton mainly because Bush had lied about raising taxes.

Clinton took office, and promptly hiked taxes even higher.

Now flash forward to the remarkable similarity we have today.

Presently, our exalted president-elect, Barack Obama, is acting presidential in spades. He is rattling off new economic proposals faster than an auctioneer can bid up prices.

Obama continues to name an an ever-expanding array of new advisors, creating a brigade of impressively-credentialed former fed chairmen, ex-treasury secretaries, and hallowed economists, all too numerous to name without losing one's breath.

By the time Obama's done naming new advisors, they may have to construct a new office building on Capitol Hill to chair them all. But too many cooks spoil the soup.

And Obama knows the only true economic indicator that matters is the stock market. It is the true barometer and keeper of the nation's wealth and prosperity; and despite the recent upward movement, it's only--in the parlance of a broker--"a bear market rally".

The stock market tells the real economic truth. The value of its shares are the sum and substance of all the nation's businesses, and the insider-stockholders of each company know what's to come. They set the pace for the market's trend; and right now it's SOUTH. And will America continue to see its wealth disappear in fear of the socialist taxman, Barack Obama?

Investor behavior is seeded in emotion...there is fear... there is greed. The market despises uncertainty. And now there is great uncertainty about Obama's future tax policy.

This uncertainty fosters doubt. Doubt leads to fear. Fear leads to selling. Nothing complex; it's how any market works. But despite all his advisors, does Mr. Obama understand this?

But the one thing Mr. Obama undoubtedly does understand, is that he could easily calm the turbulent waters of the Dow Jones with a simple pronunciation..."No Wall Street; I won't raise taxes in a downturn!"

But Obama, ever the clever politician, is already plotting ahead for his second term, and he will not dare risk it by repeating the mistake of the first George Bush. So he will phlegmatically stand aside while the market trends ever lower; destroying the wealth of Wall Street and Main Street alike. Investors realize that raising taxes in a falling economy is akin to throwing an anchor to a drowning man, and they would rather sell now than risk drowning  later.

But criticizing our august-sounding president-elect, is an exercise in futility. Obama acts confident, and sounds SO reassuring, that it only invites return fire and vicious liberal counter-attacks..."How can you say that about our new president?...what do you know?...give him a chance!...look what that *^*#**!* Bush did to us!... and now, look at all Obama is doing!

Yes America; let's look at what Obama is actually doing. His disastrous tax proposals are slowly crashing the market, just like it did between 1929-1932, when it went up and down, and trended ever lower. And all the while, the so-called "experts" said not to worry-- everything would be back to normal. But it wasn't. And it wasn't until 1954 that the market fully recovered.

So Mr Obama...what happened to your abandoned friend-advisor, Warren Buffet, who only a few month ago was your chief economist? He's a fallen star, and lies drowned in your political wake.

Only a few months ago, Mr. Buffet, the investor "expert", also urged America not to worry--and to step up and buy, because "stocks were on sale". As of today, Buffet has surrendered approximately 30% of his wealth, and there is no end in sight to the market's descent. And he can thank his buddy Barack...but he will not be able to return the favor.

Oh, and one other thing Mr Buffet sir...how about that saying of yours..."being fearful when others are greedy and greedy when others are fearful". People are obviously fearful now.

Recall how Obama got elected: he created common "enemies" of the people..."Exxon made 14 billion in profit last quarter"..."Big Oil is greedy"..."Bush-Cheney's failed tax-cuts for the wealthy"... "Wall Street greed is causing pain on Main Street." Is there a pattern in all this? To Obama and his cadre of liberal advisors, PROFIT is a dirty word, and tax cuts are verboten!(forbidden). And Wall Street knows this, and this will continue to tank the market ever lower.

And where has train-ridin' Joe Biden disappeared to? Did he board the wrong Amtrak departure? Yes, Joe Biden-- he of the patriotic tax hike mantra-- has also been abandoned by the Machiavellian Obama, who knows that he doesn't dare hint about his plans to tax the coal industries to bankruptcy, and force all smoke-stack industries to knuckle under to draconian new environmental regulations. And once again, the corporate insiders of the stock market are keenly aware, because THEY will suffer the most with these costly new regulations.

In Washington, Obama recently made a speech about, "forming new policies... adopting new ideas coming from fresh voices.... and new ways of thinking". How glorious! But it's just that old famous Obamian rhetoric, because Obama (the political kite) only does what he needs to do for the moment.

And right now, what he only needs to do, is to keep the rhetorical fires burning, and APPEAR to be really doing something, and keep his critics at bay. But he'll callously continue to ignore the true situation at hand - the falling stock market-- which will  give him all the more reason to blame his favorite common enemy...the failed republican policies of the Bush administration..

And what new economic policies and ideas could possibly be out there? The laws of economics are basic…there is supply, and there is demand: and in a perfect world the two are always in balance. If you short one side, the other becomes bloated. There's only two options...either supply side, where you incentify producers, or the demand side, where you incentify the consumers.

And oops...we almost forgot! During your campaign, Mr. Obama, you constantly assured everyone there would be 5 million new green energy jobs created. Then after your election, it was about creating 2.5 milion new jobs in infrastructure, and in making houses and buildings more energy efficient. But now, it's about creating and SAVING 2.5 million jobs. And by next week, what will it be down to then?

But the actual boom in jobs created, will be in you favorite sector-- the federal government-- your employer of first (and likely last) resort. Wow, there sure won't be any recession or tough times in this sector! And ironically, you plan on spending more money in the next 2 years "creating" all this great assemblage of jobs, agencies and government programs, than the cost of the entire six year war in Iraq. And all the while, your glorified promise of the five million new renewable energy jobs will fade off into the political sunset.

So will we all see a return to prosperity? Only the federal government will prosper if this is to occur. Now couple this to all the infrastructure deficit spending, and the national debt could explode toward 15 trillion dollars. Oh well, if Bush doubled the deficit to five trillion, ole Barack-O and his congressional cohorts certainly are not to be outdone...they'll be more than proud to triple it.

And all the while, the more people who lose their jobs in the private sector, they will, in a sense, then be working for the government in the category titled "newly dependent". And Barack is quite aware of this economic law of averages... once there's enough of those who must survive on a government stipend, after the ratio approaches 45%-50% of the population, his re-election is assured.

But right now, as things get worse, Mr Obama, you'll still be on your honeymoon. And you'll use your political license as president-elect to constantly blare away about the " disastrous economy you inherited from George  Bush", our #1 common enemy, “who caused all this”.

Your just so smart, Mr Barack Obama; no one since Niccolo Machiavelli himself, has ever been so politically clever as you.