Tuesday, August 25, 2009

Obama Does What Obama Does

The Futures rallied sharply right after this news hit the tape earlier in the wee hours of the morning.

I have stated in the past that Bernanke is the one of the biggest reasons why we are in this mess. His failure even to notice the pending housing disaster which led the economy into the dumpster was truly an epic oversight. But then again, did anybody notice this in his inner circle of social events?



I am 100% in favor of bringing back this dolt.


The same reason I voted for Bush in 2004, namely because why should John Kerry and the Democrats have to clean up W's mess in Iraq? Why should the Democrats have to clean up and balance Bush's ridiculous out of control "No Veto" spending spree? The greatest thing that would have ever happened to Bush was him losing the 2004 election. People truly would not have ever realized what a nitwit he really was. Americans constantly need to be reminded that their elected officials are idiots. But what we have now after 8 incompetent years, is more of the same from Obama from a slightly different angle. Obama is no idiot, very bright articulate guy which ultimately makes him exponentially more dangerous. Stupid incompetent people in power who adhere to business as usual policy screw things up beyond belief, but bright intelligent people who adhere to the same business as usual policy finish the self destruction. America had no clue what they were in for with Barack Obama, they were so shocked at Bush's stupidity, they voted in the smart guy. Both are cut from the same "Business As Usual" cloth.

Back to Bernanke, again its a brilliant idea to bring him back, we are all going to hell anyway, lets just get there with the same bus driver. Again, why should anyone come in and clean up this mess? Why should we let Benny off the hook? Let Americans, foreigners, economists, and academics realize that this drunken sailor monetary policy is no good for no one except the drunken sailors on Wall Street. Just like Bush was defaced, Bernanke should face the music. Just as Paulson is though of as a total hack, Geithner should be destroyed similarly. In the case of Obama, he is just like the rest of them, totally impotent, and in the immortal words of John Wilkes Booth "USELESS".

We have more bogus Housing Data out at 9am, as June Case-Shiller Home Price Index is being released. We probably see the futures get more juiced up. Totally forgetting that both the Washington Post and FT, real news publications, are running stories about homeowners and foreclosures, don't read the articles, there negative in nature and the powers that be want you to focus in on fantasy news. This is followed by Consumer Confidence at 10am.

There is more mortgaging of our grand children's future on tap today. $42B of 2 Year Notes as well as 4 and 52 Week notes will be issued to subsidize Goldman's Retirement Pool.

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