12/09/2011
The Obama DotCom “Bubble”?
Once upon a time (in 2008) there came a presidential candidate... his name: Barak Hussein Obama. Little was known about him but(funny?), most of the establishment media curiously weren’t very curious about him... it was such a GREAT story, the first African-American (aka: black) with a good chance to be elected president, (no matter he had no birth certificate)! The big media were enthusiastic players (and salespersons)in this political scenario, soon casting aside the normal questions as to qualifications and background and also tossing aside the assumed Democrat front runner, Hillary Clinton... for this "clean articulate" new guy! Wild speculations ensued, tingles went up/down media pundit's legs, and adoring praise was heaped upon “HIM” creating a kinda messianic figure! For a mostly unknown, unvetted (and still so) first term Senator from Illinois... go figure?(Never lets fact get in the way of a good story!). The excitement generated by the media sales job encouraged lotsa folks to “buy”. Especially first time and young voters... it all seemed SO GOOD! We would have a big lovefest, racism would end, the oceans would recede, the world would love us, cheap “green” energy soon available to all, and maybe even our rent and mortgage would be paid! Good times a'comin'... what’s not to like?
Hmmm???? Leads one to recall... In recent years we have seen other wild speculations and tingles. In the stock market from 1998 to 2002, there was what is now known as the “Dot Com Bubble”. During these four years many online businesses were created... t’was the new big thing! Soon E-Commerce would overtake ordinary retailers and the sky was the limit... we’d all get rich, good times a'comin' forever! Internet based companies sprung up like mushrooms after a summer rain... IPO’s were offered and these companies stocks were eagerly purchased by many investors. Prices soared! Trouble was... many of these companies offered no REAL products... they were mere promises and speculations with some very "creative" accounting. But these stocks were traded as if they were real stuff. Some folks became very wealthy, those smart or fortunate enough to sell at the height of the boom. But soon many began to learn much of the Dot Coms were “hot air” no real stuff... when folks began to realize that values were way above any reality, panic ensued causing massive selloffs and POP went the bubble... assets quickly became worthless, 401K's bombed and trillion$ were lost!
The housing bubble was a slightly different phenomenon; here there were products of real value, houses. But when Fannie and Freddie and banks were pressured by politicians to “help the little guy” (main movers Democrats in Congress led by Rep. Barney Frank and Sen. Cris Dodd)... many more people entered the market. The supply of houses could not grow enough to keep up with demand... prices soared, way above the REAL value of these properties. $100,000 houses sold for $250K with many of the loans very shaky and poorly researched. The banks and brokers, backed by promises of Fannie and Freddie were enthusiastic players as many received payment upfront or quickly packaged and sold the loans to others (SUCKERS!). Soon, as the these loans came due buyers who NEVER would have qualified under any reasonable rules began to default... panic ensued values dropped few could sell, fewer could now buy... many are “under water” and POP went the bubble! Assets quickly became worthless and trillion$ were lost! (sound familiar?). As with most liberal programs from "Great Society" till now... those who were to be helped were the most hurt.
History was made November 4, 2008, as Obama was elected POTUS, along with large Democrat majorities in both houses of Congress (gotta love a good sales job). Now... (OMG!) they had to govern! And at a time when the country was reeling economically from all the body blows of the bubbles bursting!
Note:The GOP accommodated the election of Obama by nominating a feckless “I dunno if I really wanna be Republican” candidate, 71 year old John McCain... a war hero but his best years are behind him. Poor John could not excite many folks... save introducing us to Sarah Palin, his single greatest contribution during the whole sordid and failed campaign. Sadly, most of the insider GOP want to take this tack again in 2012, makes one wonder... who's side are they own?
Since ascending to the highest office in the world and for two tortuous years forcing the oft-failed socialist agenda on an increasingly reluctant public at every turn... many have now discovered Obama and his hyper-liberal buddies in Congress also have no REAL products or solutions! All they sold us were mere vague promises of candycanes and sugarplums... (can you say “dotcom”?). His solution to everything is MORE spending, more private sector strangling regulations and more taxes on just about every apect of life... yet the economy continues to faulter and unemployment stays stubbornly high (even with cooked books, that would Paula Deen envious!). Could an observer now conclude we have another “bubble” soon to burst? Like DotCom and housing, did wild speculations raise the "paper" value of a junior senator from Illinois to hugely overvalued status???? All hype and little substance, as a great nation sinks into an economic and spiritual morass (I gotta great idea: blame Bush)!
Will voters now “sell”? We saw what may be a beginning of a MASSIVE sell off in the mid-terms of November 2010... will it complete in 2012! But the wealth and freedom lost as a result of the “Barak Obama DotCom Bubble” so far may be incalculable! More assets became worthless, 401K's bombed and trillion$ lost! Could it be (maybe just maybe) the sales people (BigMedia/politicians) were a bit dishonest in all these bubbles... Hmmm??? Now we will see an all new sales pitch (hate the rich...tax the rich, yada, yada, yada) in a new attempt to repackage and sell the same old Obama snake oil...(only the fools buy twice?) maybe we need MORE federal regulation to protect us?! Problem is... what can we do when our "protectors" are also our oppressors?
Hmmm???? Leads one to recall... In recent years we have seen other wild speculations and tingles. In the stock market from 1998 to 2002, there was what is now known as the “Dot Com Bubble”. During these four years many online businesses were created... t’was the new big thing! Soon E-Commerce would overtake ordinary retailers and the sky was the limit... we’d all get rich, good times a'comin' forever! Internet based companies sprung up like mushrooms after a summer rain... IPO’s were offered and these companies stocks were eagerly purchased by many investors. Prices soared! Trouble was... many of these companies offered no REAL products... they were mere promises and speculations with some very "creative" accounting. But these stocks were traded as if they were real stuff. Some folks became very wealthy, those smart or fortunate enough to sell at the height of the boom. But soon many began to learn much of the Dot Coms were “hot air” no real stuff... when folks began to realize that values were way above any reality, panic ensued causing massive selloffs and POP went the bubble... assets quickly became worthless, 401K's bombed and trillion$ were lost!
The housing bubble was a slightly different phenomenon; here there were products of real value, houses. But when Fannie and Freddie and banks were pressured by politicians to “help the little guy” (main movers Democrats in Congress led by Rep. Barney Frank and Sen. Cris Dodd)... many more people entered the market. The supply of houses could not grow enough to keep up with demand... prices soared, way above the REAL value of these properties. $100,000 houses sold for $250K with many of the loans very shaky and poorly researched. The banks and brokers, backed by promises of Fannie and Freddie were enthusiastic players as many received payment upfront or quickly packaged and sold the loans to others (SUCKERS!). Soon, as the these loans came due buyers who NEVER would have qualified under any reasonable rules began to default... panic ensued values dropped few could sell, fewer could now buy... many are “under water” and POP went the bubble! Assets quickly became worthless and trillion$ were lost! (sound familiar?). As with most liberal programs from "Great Society" till now... those who were to be helped were the most hurt.
History was made November 4, 2008, as Obama was elected POTUS, along with large Democrat majorities in both houses of Congress (gotta love a good sales job). Now... (OMG!) they had to govern! And at a time when the country was reeling economically from all the body blows of the bubbles bursting!
Note:The GOP accommodated the election of Obama by nominating a feckless “I dunno if I really wanna be Republican” candidate, 71 year old John McCain... a war hero but his best years are behind him. Poor John could not excite many folks... save introducing us to Sarah Palin, his single greatest contribution during the whole sordid and failed campaign. Sadly, most of the insider GOP want to take this tack again in 2012, makes one wonder... who's side are they own?
Since ascending to the highest office in the world and for two tortuous years forcing the oft-failed socialist agenda on an increasingly reluctant public at every turn... many have now discovered Obama and his hyper-liberal buddies in Congress also have no REAL products or solutions! All they sold us were mere vague promises of candycanes and sugarplums... (can you say “dotcom”?). His solution to everything is MORE spending, more private sector strangling regulations and more taxes on just about every apect of life... yet the economy continues to faulter and unemployment stays stubbornly high (even with cooked books, that would Paula Deen envious!). Could an observer now conclude we have another “bubble” soon to burst? Like DotCom and housing, did wild speculations raise the "paper" value of a junior senator from Illinois to hugely overvalued status???? All hype and little substance, as a great nation sinks into an economic and spiritual morass (I gotta great idea: blame Bush)!
Will voters now “sell”? We saw what may be a beginning of a MASSIVE sell off in the mid-terms of November 2010... will it complete in 2012! But the wealth and freedom lost as a result of the “Barak Obama DotCom Bubble” so far may be incalculable! More assets became worthless, 401K's bombed and trillion$ lost! Could it be (maybe just maybe) the sales people (BigMedia/politicians) were a bit dishonest in all these bubbles... Hmmm??? Now we will see an all new sales pitch (hate the rich...tax the rich, yada, yada, yada) in a new attempt to repackage and sell the same old Obama snake oil...(only the fools buy twice?) maybe we need MORE federal regulation to protect us?! Problem is... what can we do when our "protectors" are also our oppressors?
