OBAMA'S EUROPEAN SOCIALISM WILL DESTROY OUR MARKETS AS WELL
Dr. Laurie Roth
May 7, 2010
The steepest roller coaster in the world May 6th, seems to be the US stock market. Apparently the Europeans are worried and have no liquidity so they have halted lending. Our stock market liked that news about as much as a case of AIDS and crashed 8%, 900 points, then jumped a tinge higher, still stunningly low. In fact, the DOW has a rule that when the market drops 10% between 2:30 and 3:00 pm ET, trading is stopped for 30 minutes. We were almost there.
consumer discretionary and industrials were all falling sectors. Freddie
Mac is asking for 10.6 billion more since they lost another 8 billion.
Isn’t that splendid?
Let’s give this sick monster more money. The big, ‘give me’ banks are wanting more like JP Morgan, Citigroup and Goldman Sachs, but the Senate is trying to back pedal on their earlier stance where they were forking out endless money to them saying they were too big to fail. Now, (a little late if you ask me) they are talking about taking them over and even disbanding large firms in distress.
I sure don’t like the sound of this administration and congress taking over large banks and other investment institutions, but that is where they seem to be going…..TYPICAL. This administration is committed and passionate about big, controlling Government. We are seeing this vision unfold with the Iron grip, IRS controlled Health care system, full of threats, rationing, forced insurance requirements, audits and fines. It just warms your heart and makes you feel so healthy.
Obama and this congress are always looking for ways to seize more control of our financial sector as well. This latest crash will foster many draconian regulations and new laws, disbanding, controlling and taking over banking this and banking that…..
The bottom line is apparent to all who aren’t sniffing glue. Out of control big government programs and socialism has all but ruined all of Europe. Their debt is out of control. Their liquidity is gone. Now the loans have stopped and Greece has been downgraded. While Europe has been creating welfare state after welfare state, they have been importing and allowing themselves to be taken over and intimidated by fundamentalist Islam. Sharia law here….Sharia law there; Allow a wife beating here and law suit of a school and murder there.
The European destiny seems to be our proposed fate. We also are running to the absurd big government and socialist nightmare of Europe. Now closer to their torment and lack of service with our glorious health care law from hell. This kind of sinkage, economic and social collapse is exactly what Obama dreams about, is planning and working on.
We think the 900 point fall in our stock market was bad on Thursday, reacting to European woes, wait until our gas prices go over $5.00 this summer due to the BP oil explosion that Obama all but ignored until it was too late. Wait until the trillions of additional debt and increased taxes that are coming in truck loads sink into the American people’s heads. Wait until all this registers and cap and trade is introduced to destroy and control the rest of our troubled economy. DROPPING NEARLY 1000 POINTS WILL BE A CAKE WALK. TRY 3-5000 FOR A DROP. In the next two years we are going to see inflation go out of control, jobs continue to disappear, the stock market go significantly lower, banks get even more skidish about loaning and many businesses fail due to the over reach and expense of cap and trade.
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© 2010 Dr. Laurie Roth - All Rights Reserved