"To announce that there must be no criticism of the president, or that we are to stand by the president, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." -- Theodore Roosevelt


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Wednesday, November 7, 2012

So it Begins...



US stocks crashed today.

The Dow Industrial Average plummeted 300 points the morning following Obama's victory.

"The S&P 500 and the Nasdaq were also sharply lower. The CBOE Volatility Index, widely considered the best gauge of fear in the market, gained above 18," says CNBC.
 
Congratulations.
 
But don't worry. Putin and France are very pleased.
 
 
Among other stories the media are likely to "discover" now that voters have made their decision:

• The economy really does stink. The press studiously ignored the ongoing economic catastrophe under Obama, while parading any "green shoot" they could find that suggested growth was around the corner.

Don't be surprised if, after the election, they start to notice that three years of subpar growth have left the middle class further behind and more mired in poverty, and created a vast pool of long-term unemployed.

• Massive debt and entitlement crises loom. Despite four straight years of $1 trillion-plus deficits and a national debt that now exceeds total GDP, the media largely treated the debt crisis with a collective yawn.

Ditto the looming bankruptcy of Medicare and Social Security. These crises are nevertheless real and will have to be dealt with soon, a fact the press will almost certainly acknowledge after Nov. 6.


[...]

• ObamaCare isn't what it was cracked up to be. After two years of ignoring health reform's fundamental flaws, the press will likely admit that ObamaCare is fundamentally flawed.
Reports are sure to appear pointing out the law's lack of cost controls, its adverse impact on doctors and hospitals, and the fact that, after spending $1.76 trillion, it will still leave 30 million uninsured.

• Obama's deficit-cutting plan won't work. The press let the president get away with one of the biggest whoppers yet — that his tax hikes on "the rich" would be enough to pay for his spending binge and bring down the deficit $4 trillion.

Obama's own budget proved this wasn't the case. And after the election, you can bet the media will be "shocked" to find that his numbers didn't add up.
 

Unexpected... of course. All of it. Just like the unexpected stock crash.

 

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