Ten days ago I wrote a piece entitled The "crash" officially began when Obama won the Democratic Nomination. This story has been very well received by our readers, and I'm glad for that, however when I continue to hear people say that Obama inherited this mess, and that it was 8 years of Bush's policy, or even that this really began in September, I would ask you to look at the pictures in that story from 10 days ago. Share it with your friends. This is a story that needs to be told. The market was strong enough (wouldn't people love to see the market reset to June 6?) but began a steady decline when Clinton conceded the Democratic nomination to Obama in early June of 2008. The markets have been on a steady decline ever since that date in history, and that time marks the high point of the last 9 months.
Fast forward to 2009. Finally the Democrats have power, that 10-pound anvil has been lifted off of Pelosi's head, and the Democrats let the world know that they can party hearty! It is historic, monumental, (insert your adjective of choice.) And I'm not downplaying the significance of this event. I know that to those in our country who identify each other by skin color, it is quite significant that this new President is black. Had an Asian candidate won, this would all be quite different. And if Bobby Jindal wins the Presidency some day... Oh God! Nevertheless, I know that to African Americans, this is a huge day that many thought could never happen. As a Typical White Person, I supposedly spend my days thinking about how I'm not black, and I remember back on those days 150+ years ago when people in the USA who happened to be "white" enslaved Africans in certain regions of this country. I never met a racist person during my first 25 years of life or so and no ancestor of mine was ever a slave owner, but some who identify themselves by their skin color have instructed me that I'm white and many people "like me" are racists, so I will take their word for it.
So we got all that over with. Actually this is a huge opportunity for those who do identify themselves as black people to enter into American society finally. Assimilate, embrace opportunity, reach out and love one another, even so-called white people! This is a time to stop the culture wars, and end racism, however it seems instead that racism has taken center stage. I blog as TWP anonymously because I am not free to speak out about race in this country due to my skin color, without severe consequences. Am I a coward? Perhaps. But I digress. That is all for future articles.
What happened since the inauguration is just more of the market's down slide. There may have been a brief period when people tried to believe in the hype, but markets represent real life, and political posturing doesn't pay the rent. (Click thumbnail to see full image.)
One interesting thing about this whole scenario is that the 401ks of left-wing journalists are just as empty as everybody else's. If they feel better by repeating to themselves that it was all Bush's fault, then hey; whatever works for you. But the truth is that Obama was largely unvetted, and that was because of Hilary Clinton's dominance in part. There was no need to really explore the history of Obama in detail, because he was just a junior Senator, a newcomer, so it was Clinton who endured the media shakedown, and Obama got a pass. All of a sudden, Democrats realized that, hey, this guy is hot! His actual policies don't seem to matter, he's great at reading cue cards, and smiling, and people love him. So the whole vetting process was skipped.
That wasn't good enough for the market though, which likes certainty more than mystery; Capitalism more than Socialism. And the mystery was revealed rapidly once Obama took office. The whole "tax and spend" and "most liberal member of the Senate" labels turned out to be very real, and very true. Apparently Rush Limbaugh doesn't just make stuff up. He and others like him were telling the truth, and despite continuing popularity, Obama supporters will have to get used to the idea that living in an Obama-led world will mean less money in the bank, and more racism in government. The "it's all the Republican's fault" pacifier will have to suffice instead of real money during these hard times, and look on the bright side: If you're an Obama supporter you're much more likely to get some free handouts.
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