Manchurian President?

posted at 9:05 am on March 10, 2009 by Ed Morrissey

Most political analysts do well to remember this axiom: avoid assigning to malice what can be explained by incompetence.  Kevin Hassett of Bloomberg News wonders whether that applies to Barack Obama and his performance on the economy.  Hassett makes the argument that Obama has declared war on business, and that the stumbles of his administration appear calculated for maximum damage:

It is no wonder that markets are imploding around us. Obama is giving us the War on Business.

Imagine that some hypothetical enemy state spent years preparing a “Manchurian Candidate” to destroy the U.S. economy once elected. What policies might that leader pursue?

He might discourage private capital from entering the financial sector by instructing his Treasury secretary to repeatedly promise a brilliant rescue plan, but never actually have one. Private firms, spooked by the thought of what government might do, would shy away from transactions altogether. If the secretary were smooth and played rope-a-dope long enough, the whole financial sector would be gone before voters could demand action.

Another diabolical idea would be to significantly increase taxes on whatever firms are still standing. That would require subterfuge, since increasing tax rates would be too obvious. Our Manchurian Candidate would have plenty of sophisticated ideas on changing the rules to get more revenue without increasing rates, such as auctioning off “permits.”

These steps would create near-term distress. If our Manchurian Candidate leader really wanted to knock the country down for good, he would have to provide insurance against any long-run recovery.

Obama spent plenty of time on the campaign assuring people that he had no hostility towards business and Wall Street, but at best one can say that he had no particular affinity for them, either.  Obama came out of an environment of Leftist political and economic thought.  It should come as no surprise to anyone who paid attention that he acts on economic policy as someone from that environment would.  We’re seeing the Leftist playbook on economics, to the extent we have one at all.

Does that make Obama a “Manchurian candidate”?  No.  It does make him an elitist who thinks that he and his big-brained buddies can run the economy better than the markets can do themselves, in such a way as to guarantee equality of outcomes.  Like others on the American Left, Obama sees the business world as hopelessly warped as long as it produces winners and losers.  When he told Joe Wurzelbacher that he wanted to “spread the wealth”, he meant it — and sees that as the role of government, perhaps the primary role of government.

Just as Hassett makes the claim that Obama has crashed the markets on purpose, one can make the case that he’s incompetent — completely out of his league and clinging to his ideology rather than financial acumen.  That case is much easier to make, since it doesn’t involve divining intent.  We already see the results of Deadbeatonomics, as well as the thoroughly unprepared and outclassed staff of advisers that seem stuck in first gear at Treasury and the White House.

Which interpretation is correct?  We’ll find out soon enough, but in the end, it may not matter all that much.  Both will take us to the same place, and we have a long time before we can replace Obama.  That’s what makes 2010 more important for Republicans.


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Comments

Here we are a few months into the One’s administration and already the argument is, is he truly this incompetent or is he trying to destroy the economy?

I’d say impeach the SOB (yeah, I know like the Congressional Soviet would do such a think no matter what he does) but Biden is that incompetent. Obama truly choose well with his VP – he picked a moron so dangerous that no rational person would like to see him in office.

18-1 on March 10, 2009 at 12:45 PM

I love Rush. He’s the perfect face for the republican party. How’s that working out for you?

robertnyc212 on March 10, 2009 at 12:37 PM

We’ll see after 2010.

The way you guys are going, I think he’ll be smoking that cigar again like he did in 1994. You guys are following the exact same playbook:

1) jam a bunch of far left disproven kookery down the electorate’s throat
2) raise taxes on everyone after Obama told the baldface lie that it would only be on those making above $250k

Chuck Schick on March 10, 2009 at 12:46 PM

Hey bobby, the market is discounting (figuring in) massive taxation, unchecked govt expansion, govt waste, rise of union power, probably infation and general incompetance into the stock market. Yes, driving down an already weak economy.

moxie_neanderthal on March 10, 2009 at 12:46 PM

Nah. Look at Geithner.

Calling Obama Manchurian assumes these people had a plan beforehand.

Chuck Schick on March 10, 2009 at 10:08 AM

I vote he’s malicious. Look up the Cloward-Priven strategy. They’re wrecking the market with government solutions, then proposing more government solutions that will make things worse.

Chaz706 on March 10, 2009 at 12:48 PM

You mean the same playbook that led to control of the White House, Congress, etc., etc.?

robertnyc212 on March 10, 2009 at 12:49 PM

You mean the same playbook that led to control of the White House, Congress, etc., etc.?

robertnyc212 on March 10, 2009 at 12:49 PM

Which was the case in 1992 as well.

Remind me how that ended.

Chuck Schick on March 10, 2009 at 12:50 PM

..one can make the case that he’s incompetent — completely out of his league and clinging to his ideology rather than financial acumen. That case is much easier to make, since it doesn’t involve divining intent.

Both involve “divining intent”.

When one attempts to make the case for incompetence, one has to assume an ideological intent that is opposite of the one that Obama promotes. How could Obama be incompetent if he is executing his outward ideology? I think you are assuming there is a hidden one that is more to your liking (saving the free market). Hence your earlier blogs about wishing Obama luck and stating that reality will sink in and he will govern from the center.

To sum it up, Obama is carrying out the ideology he advocates (and has always advocated) with a high level of competence.

nottakingsides on March 10, 2009 at 12:53 PM

It ended with the 1st Black and most liberal president evah…

robertnyc212 on March 10, 2009 at 12:54 PM

Sorry, he was a failed B movie actor at best. His greatest role was as POTUS or being a useful idiot.

robertnyc212 on March 10, 2009 at 12:25 PM

Wow, getalife changed names.

Sorry, kid, but you obviously studied your film history at Moe Howard University. Reagan’s “Knute Rockne, All American”
was not “B” movie, and in fact was named by the Libarary of Congress to be included in the National Film Registry.

And Reagan’s film “King’s Row” was nominated for Oscars for Best Picture and Best Director. By the time that movie came out, he had abandoned his film career to join the service. After his military time he saw the potentian of TV, so turned his energy in that direction.

Face it, the main reason that he spent so much of his time in “B” movies was that unlike the pathetic Hollywood of today, there were too many “A” actors for him to have a chance. In addition, it’s historical fact that he did not lobby for major film roles.

Del Dolemonte on March 10, 2009 at 12:55 PM

Moxie, the market goes down and it goes up. That’s all. I made money in the market. Go short some stock and move on.

robertnyc212 on March 10, 2009 at 12:57 PM

Ronald “Bedtime for Bonzo” Reagan was a failure in Hollywood that’s why he got into politics. Not my words but his own assessment.

robertnyc212 on March 10, 2009 at 12:59 PM

Yes he can
Yes he did
Yes he will

Kini on March 10, 2009 at 12:59 PM

robertnyc, since you love the tax-hiking, terrorist-enabling, muslim puke marxist in the White House so much, why don’t you just go ahead and pay for the tax hikes of every McCain voter on this blog. Thanks a bunch… that’s really swell of you!

And regarding Rush, you’re right.. he is the best guy to lead the GOP. His ideas are clear and simple, and have a record of winning elections if only more of our politicians would stick to those fundamentals (and not mutate into liberal sellouts). It will take a strong dose of Reagan conservatism to wipe out the damage little hussein is doing, although I think his agenda will more than likely be irreparable.

Question: What is so wonderful about socialism/communism? I mean, really, if libs love that kind of life so much, there are plenty of down-trodden, 3rd world countries out there you can move to. Why are you people so stuck on destroying America?

ErinF on March 10, 2009 at 1:00 PM

Wait, so Obama crashed the markets? Even though the markets started crashing well before he was elected? Even though we’ve been in recession for over a year?

orange on March 10, 2009 at 11:58 AM

Just in case you missed it or in case you are experiencing selective perception.

THE MARKETS STARTED DROPPING LIKE A ROCK SINCE NOV 5TH – YOU KNOW, THE DAY AFTER THE ELECTION.. They were a little shaky before that on the presumption of his win, but once he was in Der market gefarhern Kaput..

bullseye on March 10, 2009 at 1:01 PM

Moxie, the market goes down and it goes up. That’s all. I made money in the market. Go short some stock and move on.

robertnyc212 on March 10, 2009 at 12:57 PM

Are you voluntarily turning over all of your profits to the government? Because that’s what your Dear Leader would want you to do. It isn’t fair to make money off of others’ misfortune.

rockmom on March 10, 2009 at 1:03 PM

Manchurian Candidate, puppet or True Believer. His motivation doesn’t matter to me, it’s his policies that I worry about.

29Victor on March 10, 2009 at 1:05 PM

ErinF you need Jesus in your life.

robertnyc212 on March 10, 2009 at 1:05 PM

What everybody seems to miss in the incompetence/malice debate is that Condon’s point in The Manchurian Candidate was that the Communists chose a bumbling fool to advance their agenda.

Why can’t people notice that a petulant child is providing the perfect distraction from the unhidden anti-America envy of his masters? Does anybody really think 0’s come up with this on his own?

warbaby on March 10, 2009 at 1:05 PM

rockmom, Walmart does it everyday…

robertnyc212 on March 10, 2009 at 1:07 PM

THE MARKETS STARTED DROPPING LIKE A ROCK SINCE NOV 5TH – YOU KNOW, THE DAY AFTER THE ELECTION.. They were a little shaky before that on the presumption of his win, but once he was in Der market gefarhern Kaput..

bullseye on March 10, 2009 at 1:01 PM

Yep. And he not only accelerated that plunge but has proposed absolutely nothing to keep it from falling.

Sorry, he was a failed B movie actor at best. His greatest role was as POTUS or being a useful idiot.

robertnyc212 on March 10, 2009 at 12:25 PM

Wow! This is like Back to the Future I haven’t heard a lib make that stupid “argument” for, like, a decade. So who was Reagan a “useful idiot” for? The ghosts of the Founding Fathers? Working Americans? Democratic reformers in the Soviet Union?

29Victor on March 10, 2009 at 1:10 PM

It ended with the 1st Black and most liberal president evah…

robertnyc212 on March 10, 2009 at 12:54 PM

The voters threw your asses out en masse first.

(And Clinton could also give a lunch order without a teleprompter)

Chuck Schick on March 10, 2009 at 1:13 PM

BOTH !!!!!!!!!

Obama is incompetent AND a hard-left Marxist with a Thug mentality honed in Chicago politics

remember that commercial: “Two, two, two mints in one!! ?

Obama is two, two disasters in one!

Janos Hunyadi on March 10, 2009 at 1:18 PM

Does that make Obama a “Manchurian candidate”? No.

Despite all evidence to the contrary, despite his actions being deliberate. There always has to be a qualifier. Afterall, he’s, “just a good American who has a different idea of how things should be done.”

Where is Jeff?

peacenprosperity on March 10, 2009 at 1:33 PM

It’s almost as if Barack Obama had zero credibility and ABSOLUTELY no qualifications to be President.

gee, whodathunkit

Opinionnation on March 10, 2009 at 1:39 PM

Leave Obama alone, you guys, he’s really tired.

Jim Treacher on March 10, 2009 at 2:01 PM

Walmart does it everyday…

Up next, the “Walmart Windfall Profits”. After all, now is not the time for profits. We need to get those poor people paying more for everything by shopping at stores that have higher prices.

Or we could just create some sort of scheme that drives up prices by making everything more expensive and invoke price controls. That’ll teach those greedy capitalists.

rockhead on March 10, 2009 at 2:02 PM

The extreme language on both sides really has me baffled. It’s so…..unnecessary and, frankly, rhetorically lazy. A good metaphor should hit the sweet spot because it conceptually hits the maximum number of truth points…NOT because it’s outrageous. Ann Coulter is exempt from this, as is Jon Stewart. They are comedic.

The good news is that the extravagance of careless use of inflammatory language has now reached a tipping point. I tend to discount ALL writers employing this method.

Give me straight prose.

AnninCA on March 10, 2009 at 2:07 PM

Before he realized it would hurt his campaign, the guy refused to put his hand over his heart during the national anthem and showed the same contempt to the flag. If it was something he did in the past when he was in his 20s and still rebelling against the grownups world, fine, I can understand, but we have a president that obviously still carries strong resentments to this country. Call me too sentimental but these were enough reasons for me not to vote for him. Anyone who served in the army knows that you can never be a good soldier if you have no respect to these two “little” symbols.

I try to distance myself from conspiracy theories, I certainly don’t think Obama is a Manchurian President. He’s a pompous ass man-child who was awarded with a gift he doesn’t deserve. He plays with the gift carelessly because he has no sentiments for its value or the people who built it.

Michelle Dubois on March 10, 2009 at 2:11 PM

Have you graded BO’s performance yet?
http://www.msnbc.msn.com/id/29493093

perries on March 10, 2009 at 2:18 PM

Have you graded BO’s performance yet?
http://www.msnbc.msn.com/id/29493093

Holy smoke!! As of right now 55% give him an “F”. If someone here has the time, that poll needs to be watched to see if msnbc reports it correctly or reports it at all.

peacenprosperity on March 10, 2009 at 2:22 PM

Are there birth certificates in Manchuria?

BHO Jonestown on March 10, 2009 at 2:22 PM

Have you graded BO’s performance yet?
http://www.msnbc.msn.com/id/29493093

perries on March 10, 2009 at 2:18 PM

After 60,000+ votes, 66% grade Obama a D or F (11% D, 55% F)

Oof. Serves the dumbass socialist vermin right.

LimeyGeek on March 10, 2009 at 2:26 PM

Just as Hassett makes the claim that Obama has crashed the markets on purpose, one can make the case that he’s incompetent — completely out of his league and clinging to his ideology rather than financial acumen.

Financial acumen… you mean, the “getting-a-sweet-deal-on-a-house-in-Chicago” type of financial acumen? I’m not sure how he reconciles that particular transaction with his “ideology”. Oh, that’s right, the market on hypocritical positions has already been cornered by the Donkeys…

Neo-con Artist on March 10, 2009 at 2:26 PM

peacenprosperity on March 10, 2009 at 2:22 PM

That poll is going straight down the memory hole – it certainly does not help Michelle’s children

LimeyGeek on March 10, 2009 at 2:27 PM

Hassett makes the argument that Obama has declared war on business, and that the stumbles of his administration appear calculated for maximum damage:

Ed Morrissey

But its not only a war on business, its a war on prosperity, its a war on freedom, it a war on the American way of life, its a war on everything that is good and a promotion of everything that is evil. Obama is not incompetent, he’s evil.

Maxx on March 10, 2009 at 2:37 PM

The list of accomplishments for our President in his first 50 days is very impressive but number one on his list is saving the economy.

This leaves our friends on the right stuck in a doom and gloom world.

getalife on March 10, 2009 at 2:45 PM

Malevolence or incompetence. That is the question. But we do have to bear in mind one thing: if Obama is truly malevolent, that in no way rules out the possibility that he’s incompetent, too. By the same token, proof that he’s incompetent doesn’t prove that he’s not malevolent.

tom on March 10, 2009 at 2:48 PM

The list of accomplishments for our President in his first 50 days is very impressive but number one on his list is saving the economy.

getalife on March 10, 2009 at 2:45 PM

He’s got a friend called “Not Sure” that has figured it all out.

Dumbass.

LimeyGeek on March 10, 2009 at 3:07 PM

The list of accomplishments for our President in his first 50 days is very impressive but number one on his list is saving the economy.

This leaves our friends on the right stuck in a doom and gloom world.

getalife on March 10, 2009 at 2:45 PM

Trolls, including you, are usually a lot of fun, but this brainless repetitive cheerleading is getting pretty boring.
I am not asking for an original thought but maybe it’s time to revamp your little list of talking points? Doesn’t Axelrod have a web site or a mailing list set up for this?

neuquenguy on March 10, 2009 at 3:12 PM

I have heard a lot of people blaming the government interference into the housing market as the cause of the bank meltdown. But, assuming that 20 million households were bad loans (a much larger % than current foreclosures), and the median home price to be $200,000, we still have a total of 4 trillion USD, which, by all predictions, is pittance compared to the total money required to bail out the market.

IMHO, the way more explosive problem is the 4 *quadrillion* in CDS that nobody wants to explore (Buffet referred to it as the WMD of finances), but which is the 800lb gorilla in the room. While the CDS were used for home purchases, they were *also* used to fund all kinds of huge bank lending (some of the investment banks invested hugely in venture capitals, some of which are unwinding now). In short, no matter where the boom was (real estate or another tech or commodities), the completely blatant misuse of CDS would have cratered the economy.

Why were the CDS allowed to balloon into this relentless behemoth? : This brings us to the Commodity Futures Modernization Act of 2000, which also gave rise to the Enron loophole. One would have thought Enron was big enough to bring this act down, but Phil Gramm was a powerful force.

In short: I think, politically speaking, this is where the problems lay:

(A) Left : government intervention into housing for urban middle class
(B) Right : de-regulation of CDS

Please respond with concrete points if you want to refute my analysis.

peter_griffin on March 10, 2009 at 3:14 PM

Of course he has. I’m waiting for the general population to turn into an angry crowd and do something about this bastard.

If people sit on their hands and accept this crap from this creep, they will get what they deserve, unfortunately dragging good people down with them.

Spiritk9 on March 10, 2009 at 3:14 PM

A socialist wanting to derail capitalism? Say it isn’t so!

– The Cat

MirCat on March 10, 2009 at 3:29 PM

You know what’s cool?

I’ve seen this show, and in the end, we win.

I’m actually starting to feel optimistic, in spite of the trials ahead.

I’m convinced America will awake and discard this yoke.

Otis B on March 10, 2009 at 3:37 PM

Update:

Dow up 350.

Never ever surrender to a depression.

We will be greater than ever thanks to President Obama.

getalife on March 10, 2009 at 3:37 PM

getalife on March 10, 2009 at 3:37 PM

We were and remain the greatest country in the world because of our freedom – not because of any single man.

You’ve lost sight of what makes America great if you think it is the efforts of any one man that make us so.

Otis B on March 10, 2009 at 3:40 PM

We will be greater than ever thanks to in spite of President Obama.

getalife on March 10, 2009 at 3:37 PM

FIFY.

Otis B on March 10, 2009 at 3:47 PM

Obama treats the private sector as a teenager treats his dad’s credit card: it’s there to be used and it always will be. He has no idea how private enterprise works because he was never involved in it: college, law school, ACORN, community organizer, state sentor, senator and president. His salary always appeared when needed and that’s the way the world works, so why worry?

Fred 2 on March 10, 2009 at 3:51 PM

Madoff will plead guilty and get 150 years.

Let the heads start to roll.

Accountability is back in America.

getalife on March 10, 2009 at 3:52 PM

Let the heads start to roll.

Accountability is back in America.

getalife on March 10, 2009 at 3:52 PM

Let’s start with Ayers.

Otis B on March 10, 2009 at 3:53 PM

peter_griffin on March 10, 2009 at 3:14 PM

Doctor Zero, where art thou? :-)

peter_griffin on March 10, 2009 at 4:04 PM

“Headline: Paranoid Conservatives?”

It’s actually quite sad that Republicans of all kinds are acting even poorer in quality than most democrats did during the Bush Administration.

PresidenToor on March 10, 2009 at 4:05 PM

Absolutely not. Obama would not deliberately destroy the United States. He’s doing it by being an inept empty suit puppet. Remember – this is a guy with no experience running anything who votes “present.”

His owners, however, are doing it deliberately. My fear is that he will be revealed as so utterly and obviously incompetent that his owners will decide he would be more valuable as a martyr than as a president. That’s when TSWHTF.

Venusian Visitor on March 10, 2009 at 4:06 PM

Update:

Dow up 350.

Never ever surrender to a depression.

We will be greater than ever thanks to President Obama.

getalife on March 10, 2009 at 3:37 PM

You owe me a keyboard for that!! Come on man, That is the height of absurdity and/or intellectual dishonesty.

OK, the dow is up 350 or so.. PLEASE.. tell me what it has done since Novemember 5th??? AKA Red November…

Hmmm??? Please????

That is like saying “WOW, Rosie Odonnell lost 3 pounds today” while ignoring the fact she is already 200 pounds overweight.

Oh, If going back to Nov 5th is too hard, how about telling us where today’s close is in relation to the close 2 tuesday’s ago???

Hmmmm???

Waiting???

Waiting some more????

Did you ever take an econ or finance class? if so, did you ever take one that wasnt taught by a socialist or marxist?

bullseye on March 10, 2009 at 4:08 PM

bullseye on March 10, 2009 at 4:08 PM

bullseye, stop feeding the troll. Instead, please reply to my comment at 3:14. Hopefully, we can have a more interesting policy debate over it.

peter_griffin on March 10, 2009 at 4:12 PM

Republicans wont win if they also
are seen as corrupt and vile

They must hold the high road and when i read today that
most republicans also loaded up the spending bill with their earmarks
I nearly vomited in disgust..

So either the republicans clean up your act NOW
or we will REVOLT and Clean ALL of your CLOCKS>.

jcila on March 10, 2009 at 4:26 PM

Obabam is obviolsly intent upon
Destroying whats left of the USA

I would not be surprised to find
Obama works for the muslims
Democraps work for the Communists..

and Republicans work for the hedge funds..

All of them need the be taken out
and removed by FORCE or ARMS

jcila on March 10, 2009 at 4:28 PM

ohh and forget about the dow
it goes up even 10 points and all the media idiots
are screaming
obama has done it..
then the next day when it takes another nose dive of 100 points they all immidiatly blame the republicans and bush..

BULLSHIT
Its time for a new Revolutionary WAR..

jcila on March 10, 2009 at 4:29 PM

Or we could just create some sort of scheme that drives up prices by making everything more expensive and invoke price controls. That’ll teach those greedy capitalists.

rockhead on March 10, 2009 at 2:02 PM

Like carbon “cap and trade”? Like “corn ethonal”?

just a couple of examples.

allrsn on March 10, 2009 at 4:31 PM

Leave Obama alone, you guys, he’s really tired.

Jim Treacher on March 10, 2009 at 2:01 PM

Can’t he just eat his waffle?

VekTor on March 10, 2009 at 4:32 PM

I agree Ed, whether its ignorance or evil, we end up in disaster. While I clearly see a purpose and agenda to this financial chaos it makes little difference. We need to end this now.

chicagojedi on March 10, 2009 at 4:38 PM

Difficult for the dollar to implode when it is traded against all the other weak currencies in the world.

It would appear that way on the surface, but the fact that all currencies are becoming toilet paper together doesn’t do anything to keep the dollar operational. If the US government takes on enough liabilities (via guarantees, budgets outlays, …) then the dollar will go up in smoke, which kills all of global trade as it goes. The greater fool theory in relative currencies is clearly at play, but all that means is that when the big one cracks, so will the rest of them, too. They might still trade against each other in the markets, but the question is whether people on the street want to trade in them, anymore. It’s a simple question of the confidence that people have in the paper. That can disappear in the blink of an eye.

The Sterling and Euro are sliding due to their exposure to Eastern European countries all seemingly contending to be the next Iceland.

Yep. And the cost is a lot larger than Iceland – too much for the Euros to handle.

Despite the fact that we are printing currency and issuing bonds as fast as we can, the world appears to see us as still the safest ship in a terrible storm.

Yes. There’s no doubt about this. But it’s cold comfort. All it means is that, when they no longer trust the “safest ship” the consequences are unpredictable and likely chaotic on a level that the world has never seen.

Could it be a different story in a year? Could Obama hurt our standing as the preeminent financial leader? Sure, but perhaps Geithner will have a draft of his plan ready by then.

I wasn’t talking about anything today. But we are presented with problems that will appear out of nowhere. This is the danger of “exponential” instruments. I wouldn’t put too much on Geithner. He won’t have a plan – nothing any different than whatever he has, now. The guy’s a tool who doesn’t seem to have ever done anything of note in the financial/monetary field. On top of that, the idiot messiah is screwing our country more and more every single day.

At least today is a little better in the markets. The S&P is at a stratospheric 708–nosebleed territory ;-)

dedalus on March 10, 2009 at 10:54 AM

Heh.

progressoverpeace on March 10, 2009 at 4:47 PM

I’d say impeach the SOB (yeah, I know like the Congressional Soviet would do such a think no matter what he does) but Biden is that incompetent. Obama truly choose well with his VP – he picked a moron so dangerous that no rational person would like to see him in office.

18-1 on March 10, 2009 at 12:45 PM

Exactly. Believe it or not, it COULD be worse. Biden can’t open his mouth without saying something insipid…imagine him as Commander in Chief.

uncivilized on March 10, 2009 at 5:36 PM

Naw…Obama isn’t smart enough and neither is Biden or the democratic leadership. Good Grief. Look at Pelosi and Reid. They are all nitwits!

sabbott on March 10, 2009 at 5:46 PM

Okay Ed and Hotair crew, here is the proof that Obama’s assault on capitalism and free markets is not incompetence – it is intentional:

http://truthandcons.blogspot.com/

http://www.worldviewradio.com/episode.php?EpisodeID=10958

Here are the stubborn facts that refute the lies and damned lies of the MSM.

rishika on March 10, 2009 at 6:02 PM

Also to note – The stock slide (and my retail sales) began their steep decline in mid-May – just about the time Obama locked up the Dem nomination. Down from its high of 13,000 in may, to where it is now, mid-6,000s.

I have it plotted in my retail sales graph – the week the Dem primaries ended with Obama the apparent winner, (around May 18) consumers lost all confidence and stopped spending money. This IS the OBAMA RECESSION, intended or not.

Fishoutofwater on March 10, 2009 at 6:10 PM

Doctor Zero : I think you did address the first part of my argument in an older thread, but I think the sheer magnitude of the disparity between the perceived error (theory) and final bailout needed (practice) makes the CDS de-regulation a serious point to consider. As always, your feedback is very much appreciated.

peter_griffin on March 10, 2009 at 6:21 PM

George Bush is at the top of the list since it all started under his watch: White House, Office of the Press Secretary October 15, 2002

President Hosts Conference on Minority Homeownership
http://www.policyalmanac.org/social_welfare/archive/wh_minority_housing.shtml

robertnyc212 on March 10, 2009 at 10:56 AM

Your link is far too late, since it actually started in the Carter administration. You also somehow manage to ignore the 17 times that President Bush warned that Fannie Mae and Freddie Mac badly needed reform, and that the Republicans in Congress tried to address the problem, but couldn’t get even token concessions from the Democrats, who basically claimed that Fannie Mae/Freddie Mac were working great, called the Republicans a bunch of racists who hate poor people for even bringing up the subject.

Now I realize that you only care about actual facts when they help you bash Bush, but the rest of us are a little more discerning.

Go back to troll school.

tom on March 10, 2009 at 6:27 PM

Welcome to the world of revisionist history. The same folks are still trying to make Reagan a great president instead of the senile bufoon that he was.

robertnyc212 on March 10, 2009 at 12:04 PM

Reagan hasn’t been president since 1989, but you still can’t let go of the name calling. Pathetic.

Why is all the hate always coming from the left?

tom on March 10, 2009 at 6:29 PM

He’s a manchurian candidate AND he’s purposefully ruining the market.

SouthernGent on March 10, 2009 at 6:35 PM

How do we know, as in “what proof do we have?”, that he isn’t some sort of Manchurian Candidate?

(although I hope that’s a figure of speech because it sounds like the Chinese really really don’t want him to do what he’s doing either)

…does anyone have that list of 0bama documents that have not yet been released handy?

das411 on March 10, 2009 at 7:04 PM

…does anyone have that list of 0bama documents that have not yet been released handy?

das411 on March 10, 2009 at 7:04 PM

Heh.

progressoverpeace on March 10, 2009 at 7:08 PM

Osama is so proud.

christene on March 10, 2009 at 7:21 PM

Accountability is back in America.

getalife on March 10, 2009 at 3:52 PM

Excepting those serving in the Obama administration.

chunderroad on March 10, 2009 at 8:02 PM

Excepting those serving in the Obama administration.

chunderroad on March 10, 2009 at 8:02 PM

And Congress

18-1 on March 10, 2009 at 8:34 PM

Maybe there is a Manchurian Candidate at the TelePrompTer transmitter.

burt on March 10, 2009 at 9:02 PM

Has Obama deliberately undermined the markets?

Yeah, probably.

Achilles on March 10, 2009 at 9:48 PM

How soon we forget Bush and his cronies. Nice try but the American people blame this mess on Bush. So whine and cry about big bad Obama. Conservative ideology from the neo-cons to the unregulated free traders has been shattered. You can prop up a dead horse, but its still a dead horse.

athensboy on March 10, 2009 at 10:13 PM

athensboy on March 10, 2009 at 10:13 PM

And you’re wasting your time reading a conservative blog because?

Achilles on March 10, 2009 at 10:23 PM

So, how do you think they are going to spin that poll? I know it says that results may not equal 100 due to rounding, but I don’t think they can round 59% too far down without looking more ridiculous than they do.

I also have a screencap… heh.

LickyLicky on March 11, 2009 at 1:34 AM

Most political analysts do well to remember this axiom: avoid assigning to malice what can be explained by incompetence.

Not to be mean, Ed, but weren’t you telling us a few weeks back that Obama was so intelligent and didn’t you imply that this would be such an asset to having him as president?

I assert that you were half right: he is intelligent and knows exactly what he’s doing. He’s trying to destroy this country.

baldilocks on March 11, 2009 at 2:12 AM

The Messiah crashed the markets on purpose and he is not about to resurrenct them.

technopeasant on March 11, 2009 at 2:33 AM

while I think Obama is a competence fascist (pick your color, black, red, or green) and intentionally driving the economy into the ground, it would by nice to test the theory. Hack the teleprompter. May I suggest?.
.
“Having run the most asinine administration in history, hereby affective immediately resign from the office of president.”
.
Biden can not be worse.

darktood on March 11, 2009 at 3:03 AM

THE MARKETS STARTED DROPPING LIKE A ROCK SINCE NOV 5TH – YOU KNOW, THE DAY AFTER THE ELECTION.. They were a little shaky before that on the presumption of his win, but once he was in Der market gefarhern Kaput..

bullseye on March 10, 2009 at 1:01 PM

You have a terrible memory. The stock market crashed the week of October 6th 2008.

The Black Week: Beginning October 6th and lasting all week the Dow Jones Industrial Average closed lower 5 out of 5 sessions. Volume levels were also record breaking. The Dow Jones industrial average fell over 1,874 points, or 18%, in its worst weekly decline ever on both a point and percentage basis. The S&P 500 fell more than 20%

LODGE4 on March 11, 2009 at 7:49 AM

Manchurian President?

Uh, yes! I’ve been saying this all along.

long_cat on March 11, 2009 at 12:19 PM

Madoff will plead guilty and get 150 years.
Let the heads start to roll.
Accountability is back in America.
getalife on March 10, 2009 at 3:52 PM

madoff is a liberal and lifelong democrat, you moron.

peacenprosperity on March 11, 2009 at 2:02 PM