Monday, March 30, 2009

Obama Arrogance vs. Wall Street Common Sense

“Farming looks mighty easy when your plow is a pencil and you're a thousand miles from the corn field.”

- Dwight D. Eisenhower

Barack just doesn’t get it. He and his cabinet of the worst and the dimmest have never tilled a field, yet they proudly proclaim they know best how to raise corn.

Over the last several weeks, the market said “pshaw” to the Big O and friends, deciding to try to revive the economy in spite of the President. It was a though the market collectively sighed, “Maybe if we ignore him he’ll go away.” And so the market bravely snubbed its AIG nose while Washington assembled a bipartisan lynch mob. And the clamor quietly disappeared (although not before taking the economic lives of innocent victims).

The market, by the way, doesn’t believe in innocent victims. “Those who deal with the devil sooner or later must pay for their daring,” may not be a Wall Street adage, but traders recognize a good comeuppance as well as the next guy. And right now, the devil has elephantine (can’t reference simians lest the racists lash us) ears, an insipid grin and a velvety smooth deep baritone voice. He’s noted most for swooning the masses, but, honestly, that’s about it.

The trouble is, he and his minions applaud their own legislative “accomplishments,” arrogantly believing something passed by Congress and signed by the President would have an immediate impact on the market. You see, they believe the market went up because they – through the bills they passed – willed it so. They see the mid-March market gains as proof their ideas have saved the day.

Ironically, by ignoring Washington, the common sense of Wall Street inadvertently rewarded the bad behavior of all the President’s men. With such a prize in hand, can you see how it makes sense Obama now believes he can run a car company? “Why, he saved Wall Street,” cry the mind-numbed blathering masses.

Folks, face it. BO and company will continue to play monopoly with our economy until the electorate bitch-slaps them across their faces. And that ain’t gonna happen without a whole lotta hurtin’ go on first.

Fasten your seat belts. The market doesn’t quit. If at first it doesn’t succeed, it will try, try again. Let’s hope it doesn’t succumb to its ultimate Achilles’ Heel: bribery. Remember, the market doesn’t care about politics, it cares about making money. Once the first stimulus money hits the street, some will make money. If it’s the market, then the argument for liberty loses its capitalist allies and must forge ahead on political common sense alone – a more honest, albeit more difficult, sale.

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