Friday, November 14, 2008

Obama Recession

My sister questioned why I didn't have an election day post up. The truth is, I always figured he'd win. I always figured we'd have a black president in my life time. I always figured we'll have a woman president in my life time. I have less faith that we'll have a hispanic president, but still, it's a possibility. So Obama becoming president wasn't the watershed event for me that perhaps it should have been because I just always expected to see it. My Facebook account does list my political persuasion as liberal (although it's missing the fiscal qualifier that should immediately precede that word) - is there any chance I was voting for someone else?

But apparently everyone was expecting him to be president, and that's why the economy is in the toilet. That's right...every damn Republican in the U.S. felt it was a foregone conclusion, and that's why they bought up speculative housing loans, decreased their retail spending by 2.5%, and stopped paying their mortgages. Are there any of you out there that truly believe the crap that comes out of Rush Limbaugh's mouth?

Here's the quote from the Baltimore Sun article:
"The Obama recession is in full swing, ladies and gentlemen," Limbaugh told his radio audience of 15 million to 20 million on Thursday. "Stocks are dying, which is a precursor of things to come. This is an Obama recession. Might turn into a depression."

Really? I saw a news article the other day (and I apologize for the lack of citation) that something like 70% of U.S. citizens have a positive attitude about the Obama presidency that isn't here for two months yet. 19-20% approve of Bush's approach. If the stock market were solely a vehicle of public perception around political individuals, you would have to draw the conclusion that the 20% who support Bush (or the 30% who disapprove of Obama) outnumber the 80% who disapprove of Bush or the 70% who support Obama. Maybe this has something to do with economic distribution and the top fifth owning 80% of the wealth. I guess in that case, it makes a certain amount of perverse sense. But if so, why are they punishing themselves (and my 401k) by screwing over the stock market and financial institutions for trillions of dollars, rather than just handing it over to validate their socialist-paranoia tendencies? I think that would have been exceptionally more efficient in the long run.

1 comment:

Deejayneko said...

It is pretty funny at the length Republicans seem to go out of their way to scare people this year. This little gem was on NPR on Thursday:

Evangelicals seem to feel like they "...face a president and Congress more hostile to unborn children, to marriage, to religious freedom, to free speech, to protecting our country than has ever existed in our history,"

Someone forgot to tell them that they had 8 years of a Evangelical president and nothing changed for them. Sure they got a few more Supreme Court justices, but really was anything remotely close to being effected under their watchful eye, especially when the economy tanked? Also, one could argue that McCain was the most moderate and nonreligious candidate Republicans ever put on the stump. Most Evangelicals didn't want to vote for him until he pandered to them by throwing Palin up there with him, which one could argue cost him a huge chunk of voters (including people I know). Sorry if I offended any of your regular readers, but I figure they wouldn't be reading it if they were Evangelical Cyber Warriors of Free Speech.