Fleeced"Author Predicted Obama Economic Catastrophe In March 2008
Start Thinking Right ^ | March 3, 2009 | Michael Eden
Posted on Tuesday, March 03, 2009 2:57:37 PM by Michael Eden
Dick Morris, writing in his book Fleeced, wrote in March 2008:
"Obama's election will trigger a stock market crash and likely devastate the already slumping real estate industry. A selling psychology usually feeds upon itself and can often induce a market-wide panic. So the nearer Obama gets to power the faster the markets are likely to dip. So look for a sharp downturn as election day approaches, and especially in the period between the Democratic victory and Inauguration day. Obama will doubtless blame the drop on the outgoing Bush Administration, but it will be his own tax plans that send the markets into a tizzy."
When Morris wrote these words, the Dow was at 1388.
Now, under Obama's management - after shoving the most government spending in human history through a Democratic Congress with virtually no review - it closed Monday at 6763. And OMG, the last time the market was this low, a Democrat was President. The markets haven't finished this low since 1997.
We have seen a 22% decline in the economy so far this year. It's down 1400 points in the forty days since Obama became President. It's down nearly 3000 points (2862, to be precise) since Obama was elected. And while we're constantly being told that Obama "inherited this economy," the simple reality is that CEOs and financial experts were warning us of an Obama-economic-disaster all along.
And to that end I wrote an article entitled, "As economy tanks under Obama, CEOs, investors say "We TOLD you so!" that I followed with "No confidence in Obama: Market loses 9.7% since plan announced."
That second article was written in February 19, back in the good old days when the DOW was only down to a 6 year low of 7447. Between then and now, Obama proposed his $3.55 trillion budget (featuring $1.75 trillion in deficit spending) and then proposed his $634 billion socialized medicine agenda. Obama keeps demanding more and more and more socialist spending and investors - ala Roberto Duran - keep shouting, "No mas! No mas!"
Obama has ALREADY expanded the government so much that he's now spent twice as much as the cost of the Iraq War - in just one month. And he hypocritically claims that he "inherited the deficit" even as he dwarfs the spending of President Bush.
Realize that President George W. Bush - demonized as he was by the left - had to deal with the economy-crushing blows of the terrorist attack of 9/11, the war in Afghanistan, the war in Iraq, Hurricane Katrina, and Democrats who TWICE refused to regulate the Government Sponsored Enterprises (Fannie Mae and Freddie Mac) whose shocking mismanagement played a major role in imploding our economy. President Bush was able to do remarkably well dealing with the disasters of the worst terrorist attack in history, two wars, and the greatest natural disaster in American history. It was the disaster that is known as the Democratic Party that he couldn't overcome.
The truth of the Democrat's central role in undermining the economy has been out there all along; but the mainstream media simply refused to report it.
Watch this 8 minute C-Span footage of Democrats blocking Republican regulation efforts from 2004 - and get OUTRAGED!
You watch that 2004 hearing on regulating Fannie and Freddie, and realize that Republicans were trying to protect this country from a massive coming economic disaster, while Democrats were risking this country's future in protecting their special interests and their narrow partisan agenda.
Watch a four minute timeline presentation of the scandalous refusal of Democrats to regulate Fannie and Freddie going all the way back to 2001.
Watch a four minute video of the Fannie Mae CEO calling Democrats - and Barack Obama - "family" and "the conscience of Fannie Mae" for obstructing Republican reforms even as he acknowledged that his organization was out of control.
If you actually watched them, you'll realize that President Bush and many Republicans predicted economic collapse unless the totally-out-of-control GSEs were reigned in with regulation - regulation that Democrats unanimously opposed.
And realize that the United States of America deserves this economic catastrophe, because Americans have become so perverse that they believed the propaganda of a blatantly dishonest and corrupt mainstream media. If you voted for Barack Obama, you and yours frankly deserve to suffer because you mindlessly believed a lying ideology.
I've saved all three of these videos to my hard drive, because I know that the same fascist Fairness Doctrine Democrats are going to ultimately suppress any first Amendment right to free speech that discredits them in the same snide, underhanded way that they are already trying to suppress our second Amendment rights to own guns.