The trouble is when Washington blinks, it has too much audacity to understand what just happened. After their audacious budget got lynched by members of their own party and Wall Street pros finally came out in full force and verbally lashed the White House, the administration stopped talking “end of the world” and started playing nice with the economy.
At first I thought, “Well, they cried wolf and got their two socialist feet in the door with the passing of the ‘stimulus’ package and the ‘earmark’ bill. So, now they can talk up the economy just to claim credit that the balls-and-chains they just rammed through worked. They know America is just stupid enough to believe it.”
But now the truth comes out.
Today, the Wall Street Journal reported net foreign sales of US securities exceeded $60 billion in January (reversing the $24+ billion in purchases the previous month). All told, net foreign capital outflows approached $150 billion in January compared to $86+ of inflows in December. No doubt the administration knew this little detail last week; hence, the abrupt turnaround in their economic tune.
Although one month does not a trend make, clearly the global money changers are doing more than just orally dissing Obama, they’re voting with their pocketbooks. Before we liberty-loving free-market conservatives smile too broadly, remember this: Obama just gets international egg on his face. We’re still going to have to pay for his spending.
This is the reality: Obama got elected for four years. The Democrats control both houses. The spineless Republicans have a filibuster shield in name only. Both parties know dollars translate to votes, and are not afraid to enslave your grandchildren just so they can maintain their posh DC lifestyle.
What’s to do?
Sorry, but we’re stranded on a deserted isle right now. Best advice: know thyself and know thy enemy.