RWNJ Conservative Views from Cincinnati

I found this followup from Jim Cramer (on his “Mad Money” show) regarding his comments that Obama is presiding over the “greatest wealth destruction by a President.” Cramer came out punching, making comments such as “Obama’s the one who knocked the whole darn thing down” and that Obama “might have some inside information that he’s done enough damage for now.”  He even threw a shot mentioning “President Pelosi” when talking about the class warfare strategy that is in play.

This is typical Jim Cramer, full of enthusiasm and passion. If the White House wants another battle front (beyond Limbaugh), they’ve got a willing combatant in Cramer.

Cramer also has a written response available here.

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Posted under Economy

In an interview with Matt Lauer on NBC, CNBC Analyst Jim Cramer (who, I should point out, is not a Conservative) regarded Obama’s policies as an advancement of a “radical agenda” and pointed out that this was the “greatest wealth destruction by a President” that he’s seen.  

Obama has shrugged off the steep decline in the stock market. He said, “What I am looking for is not the day-to-day gyrations of the stock market … but the long-term.” Apparently, he has missed the continued stock market slide (25% reduction since he was elected). He also stated, “The stock market is sort of like a tracking poll.” The Wall Street “poll” is speaking volumes on its opinion of the way the economy is heading. Given that the economy usually lags the market by 6 months, our economic future does look grim.

Perhaps we should move away from the agenda of restributing wealth, hiking taxes, and burying ourselves in even more debt. We need to do what is right for the economy. That includes business-friendly policies, lower taxes for all economic classes, and long-term job promotion. This new administration has had the opportunity to implement these types of policies, but instead has moved from one set of bad policies to another. In the end, it is the country that pays for this mistake.

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The Wall Street Journal posted an opinion article today pointing out that President Obama is implementing policies that are slowing down, or even stopping, our recovery from this recession.  After falling 4.24% yesterday, the Dow is now down over 25% since Obama was elected, its lowest level since 1997.  The new administration’s policies of punishing business and rewarding failure is clearly having a detrimental effect.

The average length of a recession during the past fifty years is 11 months. The current recession has existed now for 15 months. Instead of focusing on promoting growth, Obama has focused on income transfers (tax credits to those who don’t pay taxes, mortgage bailout, etc). Now, there is even mention of reforming healthcare. While I can agree with Obama’s statement “There are times when you can afford to decorate your house, then there are times when you need to refocus on building its foundation,” I cannot understand why his actions are in direct opposition.

When the recovery occurs, it will not be because of Obama’s policies… it will be in spite of them. The market showed its opinion of the President’s proposed budget plan when it took a nose dive. It unfortunately seems that every time the administration mentions an action the market drops even further. Just today Orszag defended raising taxes in the middle of the recession. As those who make hiring decisions have less money, less people are hired. It is a fantastic way to stagnate the economy further.

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Posted under Economy

I really wasn’t planning on making a deal about Limbaugh’s speech at CPAC, but it’s really been making rounds around the newswires. A complete transcript is available here. Video is embedded below (about an hour and a half, cut into 10 parts):

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Posted under Economy

First off, a hat tip to Verbal Thermite, where I first saw this posted. I will preface this by saying I don’t believe the fair tax will solve every issue in the US. I do believe that consumption-based (as opposed to income-based) is a much less complex, less expensive, and (forgive the term) fair system.

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Posted under Economy