Market Goes Into Dive in Response to Obama Election
The voters have spoken — and so has the market. During the two days following Obama’s tragic victory, we’ve seen the biggest two-day drop in the market in over two decades. As no one should be surprised to see, we are witnessing the largest postelection stock market selloff in history.
It’s almost as if investors don’t understand that jacking taxes on the “rich” through the ceiling in the face of a severe recession will magically restore the economy.
Don’t look for anything more than grudging futile gestures from Obama to pull the economy out of its tailspin, which with minor hiccups is likely to continue until it crashes. According to the ideology he has been immersed in since the day he was born, capitalism must fail before the communist utopia can be created.
FDR prolonged the Depression with his socialist policies. But FDR wasn’t mentored by communists Frank Marshall Davis, Jeremiah Wright, and Bill Ayers. The table is being set for a radical transformation of our society that will make the New Deal and the Great Society look Reaganesque.
Future generations are likely to subsist as government slaves because of the mistakes being made now.
Hat tip: Burning Hot. On a tip from Matt L.
Cross-posted at Moonbattery.