Old man, I know what I'am talking about since I am in that business. Not in wall street of course. But yes, the market can be manipulated on the short term but not on the medium to long term. It is well established that in wall street a lot of big funds, traders and billionaires do not like this administration and they are vocal about it. This lack of enthusiasm in the short term reflects their deep disappointment (a lot of them are selling off purely on emotions).
You may be in the business, but what makes you think I'm completely unaware of the minutes of this business?
Now coming back to the subject on hand, Obama has stressed on the importance of taxing the rich and funnelling that wealth to "the people". We all know who these people are. People who took loans recklessly. The same people who lost their homes, not unjustly or by force mind you, but through established law and financial practices. So in comes their saviour and he declares that these people should not suffer at all for their misdeeds. Let those who took risks and bet on their investing skills suffer alone. What kind of policy is this? At best both will have to suffer equally. But taxing the rich merely because they were enterprising enough to stay afloat in a sinking economy is grossly immoral and unethical.
Next comes his tirade against companies which outsource jobs. If some companies are clever enough and efficient enough to conduct business in a manner which retains the quality of their service but more cost effectively, is that a sin? In a mad populist orgy, BO has forgotten all the basics. These same companies kept American treasury afloat with tax dollars mind you which this hopeless fool intends to give away to the undeserving.
Next comes the intention of this man to tackle recession. Iceland is a model for that. Briefly they tackled the whole thing by ousting the banks. And now look how well Iceland has done since. But what does this government do? They simply continue to dole bailouts to big corporations and then at the end of four years, pay lip service to things like education and services by merely promising more funds, just to get the votes.
Very unfortunate the way this man is going about handling the US economy. I dare say our inept prime minister would have done a far better job.
Next comes the topic of race. American character is defined by it. Deny it, but that won't necessarily mean any less of it. The misled and misguided voted for this man chasing an illusion and that too for the sake of political correctness. This will hit back on America, hard.
perfectly put. Land of Hope indeed.
