Wednesday, June 01, 2011

The End of the World is Nigh - Obamanomics Edition

It is the first of June and this is the month that I have continually said that Barry Obama could not survive. The media can no longer continue to cover up for his horrendous mistakes and over-reaching. We're done, folks. Let's go to the Obamanomic Big Board from a few minutes ago.

The top image is from the Dow Jones Industrial Average from the time that the Democrats took over DC in January 2007. Remember, the very first act of the Moronic Congress was to jack up minimum wage by nearly fifty percent over the next three Julys. George W. Bush signed that stupidity into law and the fall started.

Unemployment 'ASPLODED, too. As it always does. Never in history has raising a minimum wage done anything good and it has usually taken five to ten years to crawl back from that stupidity, but that was not the only tornado in the coffee cup.

No, in the Fall of 2008, the federal government started pumping money into the four largest banks on Wall Street to try to bring things back. Understand, those four banks did not dole that money out, they sat on it to try to weather the economic calamitous storm. Those money pumps did nothing other than raise the DJIA and almost make it back to the point it was before the minimum wage killed everything. Those money pumps gave the national media fodder to protect President Assclown Buffoon.

Now, QEII is coming to an end and over the last month, May 2011, the DJIA is DOWN almost three percent and is off the May 2 number by 376.87. CURRENTLY. The Federal Reserve can do one of two things. Either restart the money pumps and falsely keep things holding the appearance of stability, or let the market CRASH. Funny, Democrats, Liberals, and "Progressives" would say that pumping nearly 200 BILLION dollars a month into the market was good. Normal people could understand that doing that decouples the market from REALITY.

Check out what gold has done this morning. It is UP over 14 bits since yesterday afternoon. What is the percentage on that, folks? Check it, spot gold is 1548 an FREAKING OUNCE!!! When the Democrats took over DC in January 2007, spot gold was 605.10 an ounce. What is that percentage?

The fact remains that no matter what happens this Summer, it is not going to be good. The Fed will continue to manipulate currency in one way or the other, they have no choice. Maybe they will not call it, "Quantitative Easing," but it will be similar to that. Delaying the inevitable, folks.

Oddly, Europe is even worse off than the United States. And their problems are not going to end well, either. Understand, this is exactly what "Progressivism" does every time it is tried. EVERY. TIME.

Housing DONE. What little bit of gains in the housing market that came from bailing out the mortgage companies was erased in one month.

The number of people on Food Stamps sets a new record almost daily. Plus, did you know that corn futures keystoned in the last four months alone?

JP Morgan seems to think that their money pumps will not keep happening. I wonder what that does to their forecasts for the rest of the year?

Goldman's forecasts turned out exactly like we knew they would

Jobs came in about one fourth of what was expected by morons on the left. All that needs to be done is to abolish minimum wage, but no one is going to do that. The idiots that make minimum wage cannot make the intellectual connection and the Democrats need more idiots to vote for them.

Do I blame Barry Obama for all of this happening? Of course not, Barry Obama is an idiot elected by more idiots. He does not possess the intellectual firepower to even understand what is going on, but I do HOPE that he has to take the punishment for it.

Again, President Obama is NOT going to survive this month. And good riddance to bad bullshit. HOPEfully, this is the final nail in the coffin of "Progressivism," too, but I do not think that it will be.

Things to do today: Plant a garden and buy some hogs.

Please take the time to comment.


Cousin_Andy said...

And, stock ammo.

paul_mitchell said...

No lie.  It's down 215 now.  Do not walk under the windows on Wall Street for the next couple of days.

The Mayor said...

Awesome post.

We do live in interesting times.

My date is not far off your June date, I still think we have a bit more crap to go through before everything assplodes. But it's coming, and it's going to hurt.

paul_mitchell said...

Mayor, we are down on the DJIA 561.99 since May 2.  That's over four percent.  Obama cannot survive this without blowing another TRILLION.  And it is really, really bad in my industry right now.  I had no clue that I would ever see The Greater Depression in my lifetime, but then again, we clowned on Obama about how stupid he was back in October of 2005 at this very blog.  President? No way, he's an idiot on the Cynthia McKinney/Hank Johnson scale.  Shows what I know.