It's obama spreading panic

[runeight]

IT'S OBAMA SPREADING PANIC

By RICHARD MORRIS

Published on TheHill.com on February 24, 2009

Ultimately, all recessions and depressions resolve themselves into crises of confidence. The instant, global, 24/7 communications of today make them ever more so. President Obama, in his pursuit of liberal big-government spending, has totally neglected the role of the president of the United States in reversing global panic. To the contrary, his every remark and the constant preoccupation of his Cabinet is to heighten the sense of crisis and to escalate the predictions of doom if we do not do as they tell us and raise spending now and taxes later.

Instead of being a firewall, reassuring Main Street even as Wall Street crashed, he has become a conduit of panic, spreading the mood of desperation from the stock exchange floor to kitchen tables across the world.

There are bad loans, which became bad assets, that lie at the root of the crisis. Through deregulation by the government and the greed of financial institutions, they spread to every portfolio in the world. But these basic facts have metastasized out of all proportion to their real harm into job and financial insecurity for every family on Earth. It is President Obama, not the markets themselves, who has spread this fear. A global Paul Revere, he has not only aroused us, but incited fear and trepidation in his wake.

Previous panics have been global in impact, but local in focus. The world panicked because of developments in Mexico or Argentina or Thailand or South Korea. Now, with Collateralized Debt Obligations spreading the poison of a bunch of bad loans all over the world, infecting every portfolio, the panic is not only global in impact but in focus as well. Modern communications have hastened the spread of the virus of panic throughout the global bloodstream.

In addressing this panic, the president of the United States must truly be the leader of the world -- showing the way back to confidence.

Instead, Obama has been instrumental in purveying fear and spreading doubt. It is his pronouncements, reinforced by the developments they kindle and catalyze, that are destroying good businesses, bankrupting responsible people and wiping out even conservative financial institutions. Every time he speaks, he sends the markets down and stocks crashing. He doesn't seem to realize that the rest of the world takes its cue from him. He forgets that he stands at the epicenter of power, not on the fringes campaigning for office. This ain't Iowa.

Why does Obama preach gloom and doom? Because he is so anxious to cram through every last spending bill, tax increase on the so-called rich, new government regulation, and expansion of healthcare entitlement that he must preserve the atmosphere of crisis as a political necessity. Only by keeping us in a state of panic can he induce us to vote for trillion-dollar deficits and spending packages that send our national debt soaring.

And then there is the matter of blame. The deeper the mess goes -- and the further down his rhetoric drives it -- the more imperative it becomes to lay off the blame on Bush. He must perpetually "discover" -- to his shock -- how deep the crisis that he inherited runs, stoking global fears in the process.

So, having inherited a recession, his words are creating a depression. He entered office amid a disaster and he is transforming it into a catastrophe, all to pass every last bit of government spending and move us a bit further to the left before his political capital dwindles.

But the jig will be up soon. The crash of the stock market in the days since he took power (indeed, from the moment he won the election) can increasingly be attributed to his own failure to lead us in the right direction, his failed policies in addressing the recession and his own spreading of panic and fear. The market collapse makes it evident that it is Obama who is the problem, where he should, instead, be the solution.

Thank you Mr. Morris. I'm already sick of his rhetoric.

r8

[Red05]

I wish he would ease off with the impending doom statements. I think his misguided reason is concern, making sure everybody understands the gravity of the situation, rather than "to get his way".

runeight, I feel like I know you somewhat, and you seem like a good guy despite your political opinions( ). Morris, on the other hand, is an idiot.

[CBXRider]

"IT'S runeight SPREADING PANIC"

There, fixed that for you...

[Dino]

look another "journalist" that makes his living playing up to the gullible.
Posted via Mobile Device

[Pine]

Well what did you expect! You guys voted him in.
He is going to be a second Jimmy Carter!

Our Stock exchange is down because Wall Street is down.
I have "lost" 40% of my portfolio!
Luckily its in a sound Company so I will get it back.
But when?

[CTA_Busa_LE]

Originally Posted by SilverSurfer

look another "journalist" that makes his living playing up to the gullible.
Posted via Mobile Device

If that's the case I'm betting he learned his skill while working as an adviser for President Clinton.

[Red05]

Originally Posted by Pine

I have "lost" 40% of my portfolio!
Luckily its in a sound Company so I will get it back.
But when?

Please tell me that you don't blame this on Obama. I know the market dropped some more this week, but it's been dropping with tiny recoveries from time to time for months and months. The immediate effect of his plan on the market is a crap shoot, and besides, it wasn't intended as an immediate fix in any way. Give Obama's plan time.

[Narcissus]

This is all Calvin Coolidge's fault!

[Pine]

Originally Posted by Red05

Please tell me that you don't blame this on Obama. I know the market dropped some more this week, but it's been dropping with tiny recoveries from time to time for months and months. The immediate effect of his plan on the market is a crap shoot, and besides, it wasn't intended as an immediate fix in any way. Give Obama's plan time.

No I don't blame it all on Obama but if he is spreading panic he is not helping with any recovery either!

[Gardzilla]

Socialism 101 - as practised in Canada

Step 1. Find a problem either real, perceived or manufactured.
Step 2. Convince everyone that the problem is serious and will negatively
affect everyone or at least a very large % of the population.
Step 3. When everyone's stress and fear levels are elevated. Drive home
the message over and over that the Government will solve the
problem.

The best problems for Big Government to take on are the ones that are manufactured or perceived since they can be easily "solved". Often because they never really existed anyway.
The next best are the real problems that will eventually work themselves out on their own. If the Government is seen to be doing something to solve imaginary or self correcting problems then when the solution arrives they can claim victory. Big Government wins again and this "victory" is used as evidence that socialism and Big Government is the answer to all of our problems.