Frankly, I don’t like to write any kind of political commentary on this particular blog; in fact I’ve only ever done this once in the past when debating the negative effects of federal government intervention in free markets. I never want to alienate any trader, particularly any of the fabulous novice traders and college students who frequent this blog and perhaps prevent them from acquiring some bit of knowledge that could help them become successful traders.
However, since the stock market is heavily…swayed…by political transgressions, I feel it necessary to call out B.S. when I see it. The short list is pretty simple:
The economy isn’t recovering, health care isn’t getting fixed, the budget isn’t getting balanced, and our government still doesn’t have a clue!
Cash for clunkers, everyone’s heard of it by now. It’s the program that President Obozo calls an overwhelming success. Don’t accuse me of being some kind of right wing nut job though, I just want what’s best for this country. The cash for clunkers program is further evidence our federal government has no intention of doing what is right for Americans, but rather has every intention of smashing every budget, dream, and opportunity available in this country in order to be re-elected.
Ladies and Gentlemen, cash for clunkers is more of the same political insanity that birthed the “houses for everyone” program that caused the mortgage crisis that has crippled this country over the past 18 months. The truth is, cash for clunkers encouraged people who are already broke to scrounge up their last few pennies in order to buy a new car.
In other words, people who already have too much debt, no savings, are barely making payments (or are not making payments) on their homes, were encouraged to go take on more debt in the worst declining value investment possible, an automobile. You see, cash for clunkers didn’t help people with nice cars, or new cars. It didn’t help anyone who could afford to buy a car without the 4500 dollars. Yet these poor, uninformed people who don’t really understand the value of savings have been encouraged to spend their rent and food money to buy a new car.
Mr. Obama, if this is “overwhelming success,” please stop doing anything, because I don’t want to be a part of anything you consider a colossal failure.
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