Thursday, February 26, 2009

Bum Stock Tips from Sykes and Esenberg

With the right when it is a choice between prosperity and the supremacy of conservative fantasies, it is fantasyland hands down.

The day after Barack Obama's highly effective speech, Sykes and Esenberg cheered a dip in the market when it opened the next day as a sign that Wall Street isn't in favor of the proposed plan to uplift you know, you and me.

A couple of weaknesses here.

1) The right wing has never been in favor of the uplift of this country. Otherwise why would they be dishing out policies that cripple the middle class?

2) As Nate Silver points out, what's good for Wall Street is not necessarily good for Main Street.

3) What goes down, can go up. Turns out that the Obama speech had nothing to do with the markets opening down on Wednesday (unless that down market is the Jindal stock).

Maybe Rick should stick to what he knows, whatever that is.

BTW, notice the difference between 2001 and 2009?

In both cases we have a state of crisis. In 2001 the opposition pulled behind the president. In 2009 the opposition is praying for failure.

Is Charlie an economic surrender monkey?


  1. What policies did right wingers come up with that have crippled the middle class?

  2. Try their union busting attempts for a starter.

    Then there is Bush's so-called tax cuts which actually increased taxes on the middle class (mine went up by $400 per year).

  3. Let's make that union busting. It is no secret that the drop in unionization and the in the middle class went hand in hand.

    One economist said that over the past generation the income shit was such that it was like every middle class family sent off $10,000 to the wealthy in terms of shifted taxes and cuts in services that had to be made up in fees.

    But the big one has been globalization. Not in itself bad, just that all of the benefits have gone to a small group of owners and large stockholders, with no safety net for those who have lost their jobs.

    And finally there has been the deregulation of the stock market, which enabled widespread thievery at the expense of millions of average people.

    But, this is all around you. Wake up.