In the end all Barack Obama and his corrupt party of Obama Dimocrats had left was fear. Barack Obama wanted a market panic and crash:
“I just got off the phone with a source on Capitol Hill who has spent the past few days trying to convince Republicans to vote for a debt ceiling hike.
He told me that the biggest obstacle he faces has been “market complacency.”
“Frankly, a bit of panic would be very helpful right now,” he said.
As he explained it, lots of people in Washington, D.C. expected that this would be a week marked by panic in the markets. Stocks would tank. Bonds would get clobbered. The dollar would do something dramatic. And all of this would help convince reluctant lawmakers that they had to reach a compromise on the debt ceiling.
“We were following the script from 2008. When the market collapsed after TARP failed, that spooked everyone enough to get them to fall in line. We thought the same thing would happen this week,” he said.
Instead, the market has just been on a quiet, non-panicked slide.
Stocks have sold off by a couple of percentage points, but nothing that indicates a real fear trade in the works.
Everyone in D.C. has a theory about this. Some believe the market is sending a message that a deal will get done. Others think the market doesn’t understand politics. [snip]
“Every day we wake up and think that stocks will send a shock up to Capitol Hill. And every day nothing happens,” the source said.
He’s still holding out hope for a panic sell-off at the end of the day.
“It’s the only thing that’s going to bring everyone together on this,” he said.”
The markets and the money men did not bail out Barack Obama. They already had received their trillions and Moved-On. No bailout for the boob.
[Obama’s new New Deal may be read in this PDF file.]
Today, after last week’s non-panic, the markets and the money men were expected to bail out the boob with a massive vote of confidence in the form of a stock market rally in the United States. But the money men abandoned little Barack in the same way his sperm donor father kept the stork and dumped the trash can baby:
“The blue-chip index tumbled almost 200 points from its session high this morning and is trading lower for the seventh-straight session.
The S&P 500 and the tech-heavy Nasdaq also declined. The S&P dipped below its 200-day moving average of 1284.34. The index has not closed below its 200-day moving average since September 10. The S&P is now down nearly 4.5 percent over the past 6 days. [snip]
“Unbeknownst to what many of our trusted lawmakers may like to believe, the poor readings on the economy are not exclusive to the debt drama,” Todd Schoenberger, managing director of LandColt Trading told CNBC. “If they woke up this morning thinking trading would be a cakewalk and investors would parade Congress on their shoulders as a result of this so-called deal, they are clearly mistaken.”
The dismal news follows the government’s first reading on GDP last Friday, which came in at an anemic 1.3 percent, raising fears of a double-dip ahead.
Schoenberger added that traders are preparing for a “horrendous” non-farm payroll report at the end of the week and are struggling to find hopeful signs that the economy is recovering.”
“When I say incompetent, he’s competent in getting elected and re-elected, but as far as running the country, he’s incompetent,” Trump said.”
Trump, partly echoing our assessment from years ago, is being generous. Obama is only interested in his own advancement – the country can bleed to death.
As Trump continues to state the obvious, we recall a certain Rules and Bylaws Committee meeting. At that meeting Congressman John Conyers strutted through the halls, cane in hand like a latter day Charlie Chaplin clown, and helped rob Hillary Clinton of delegates and gift Barack Obama the nomination. Now Conyers is a born again racist (by definition anyone who speaks ill of Obama is a racist).
“Everybody is criticizing Republicans, but guess what. Every Republican who is in the Congress was legitimately elected like all of us. That was a choice that voters made. Now whether they made it wisely or still stick to it remains to be seen. I say we’ve got to educate the American people at the same time we educate the President of the United States. Because, the Republicans, Speaker Boehner or Majority Leader Eric Cantor did not call for Social Security cuts in the budget deal. The President of the United States called for that.”
Hillary Clinton’s 3:00 a.m. ad was right and Obama was and is too inexperienced to be anything but a circus clown. Conyers has called for demonstrations at the White House but thus far only a disruption at the House of Representatives has taken place. Racist Congressman Emanuel Cleaver (by definition anyone who speaks ill of Obama is a racist) cleaned up a scatological reference to attack Obama’s new New Deal:
“This deal is a sugar-coated satan sandwich. If you lift the bun you will not like what you see.”
More racists (by definition anyone who speaks ill of Obama is a racist) came out of the left closet to join Cleaver:
“If I were a Republican, this is a night to party,” Rep. Emanuel Cleaver, a Missouri Democrat who chairs the Congressional Black Caucus, told MSNBC Sunday night.
If Obama thought he had problems with liberals before this, he’ll have even more now, no matter how hard the White House spins it as a “victory for bipartisan compromise, for the economy and for the American people,” as the administration’s official talking points claimed.
Obama himself, appearing Sunday night in the White House briefing room, seemed more disgusted than delighted. [snip]
An angry Rep. Raul Grijalva (D-Ariz.), co-chairman of the Congressional Progressive Caucus, said, “This deal trades people’s livelihoods for the votes of a few unappeasable right-wing radicals, and I will not support it,” lamenting what it said about the state of the party under Obama’s stewardship.
“The Democratic Party, no less than the Republican Party, is at a very serious crossroads at this moment. . This deal weakens the Democratic Party as badly as it weakens the country,” he added. “We have given much and received nothing in return. The lesson today is that Republicans can hold their breath long enough to get what they want.”
MoveOn.org came out in opposition, and the Progressive Change Campaign Committee said 200,000 Obama 2008 supporters might withhold their support this time in protest.”
“CBS’ White House correspondent Norah O’Donnell: “You gave them everything they wanted and we got nothing!”
Racists, the whole bunch. How dare they insult the Mess-iah. How dare they speak ill of a black man. Racists, racists, racists – that is what they are by their own definition.
What is funny about these racists is how ineffective they are. Nancy Pelousy, who attacked Hillary in 2008 and enabled Obama then and now will vote for the Satan sandwich. All the threats they make tickle the funny bone. These racist clowns scare no one. They are just like Obama, their god. They are just as ineffective and not feared. And what is worse, they pretend that Obama is not doing what he wanted to do all along.
These racists are so incompetent, just like their Mess-iah Obama when he issued his “bluff” that they too give away the game in very explicit terms:
“But senior Democratic aides say their bosses have little option but to support the deal given Tuesday’s doomsday deadline, even if it adds to their bitterness over previous deals on the extension of Bush-era tax cuts to the wealthy and this spring’s budget deal.
“This can only be described as a cave by the White House, even if they view it as a necessary one,” said a top congressional Democrat who requested anonymity because he deals directly with the West Wing. “The only way they sell it to the base is by telling them they aren’t as bad as the Republicans. This is another example of the White House hamstringing Democrats in Congress because everyone knows they will cave in the end.”
Another Democratic staffer said the deal allows Obama to look like a problem-solver outside Washington, which benefits him, although at the expense of his party.“
Obama is doing exactly what he wants because he is doing whatever it takes to advance himself.
“Let it bleed” is Obama’s attitude towards his very own Obama Dimocratic Party. “Let it bleed” is Obama’s attitude towards the United States of America. “Let it bleed” is Obama’s attitude towards the American economy. The only thing that matters to Obama is Obama.
The Republican “leadership” has its own “Let It Bleed” strategy. They abandoned their beliefs about the economic decline of America and the need, as espoused by the Tea Party, to take immediate powerful action against the debt and deficits – in order to gain future election victories. The great suites of offices that come with a majority Senate meant a great deal to the Republican “leadership”. The American economy? Let it bleed.
For both Obama Dimocrats and the Republican establishment the political was more important than the economic. The Republicans gave up much (especially the need to have an election year fight on the economy) in order to win electorally. Obama Dimocrats gave up everything in order to not have a fight about the economy and economic philosophy – all so that their Mess-iah will have a chance to continue to be their leader.
Politico had a fairly good analysis about the political state of play:
Mitch McConnell: [snip] The deal promises to isolate the troublemakers in McConnell’s caucus, and there’s no visible pain for him. The Kentucky Republican did a good job of making sure shared sacrifice is shared among the other parties at the table. [snip]
2012 Senate Democrats: They’ve been looking for a spending-cut-tilted bipartisan compromise they can get behind that doesn’t completely screw the White House. They got it. Now, after months of soldiering on without a plan from Senate Democratic leaders, they can be for something. Now, they’ll have the cover of a bipartisan Senate vote and plenty of GOP stalwarts to point to as brothers and sisters in arms when they defend the plan on the campaign trail. [snip]
The left/Reid/Pelosi: The best way to tell who lost is to listen to who is screaming the loudest. That award definitely goes to congressional liberals. Harry Reid and Nancy Pelosi may have signed on, but there’s little doubt they were under duress from the White House. [snip]
The other 534 members of Congress: The process is so broken that only Biden and McConnell can negotiate the really big deals anymore — and only with each other.
TOO EARLY TO CALL
President Barack Obama: Will he look like a hero for forging bipartisan compromise, or will he look compromised for giving up too much on Democratic priorities? Perhaps a bit of both. But still, it’s just a debt-limit increase, so he avoids becoming the first president to preside over default. There’s no constituency for it, not like health care or repealing “don’t ask, don’t tell.” Who’s excited about increasing the debt limit? Time — and the success or failure of the budget-control mechanism — will tell whether Obama wins or loses. But it seems like he’s in a better position today than he was on Friday and a much worse position than he was in January.“
The Politico assessment of Obama is generous to him. The last sentence is on target however. Obama has avoided repeated fights on the debt ceiling during 2012 but he is now a visibly weakened oaf even to his dwindling band of Hopium eaters.
The Satan Sandwich debt deal scam is not going to help the American economy and the problems grow with every metric released. Tonight the House votes to put America out of its misery and tomorrow there will be more votes to pass the latest scam which only benefits political leaders not the American economy. Obama Dimocrats will wave red flags and call Hobbits “terrorists” in order to help Mess-iah Obama.
At the end of the day the only ones who benefit from Obama’s new New Deal is the political establishment of the country. As to America, these leaders will let it bleed.