CNBC Editor blames Obama's Stimulus for recent stock woes

Okierock, let's say somebody's dog takes a sh-t on the sidewalk, and that after this, you invent a magic crap multiplying machine, using some form of alchemy, and then multiply the crap into millions of tons of crap.

Then you build a fleet of tricked-out zepplelins that criss-cross the globe, outfitted with special crap dispersal devices. You rain crap down upon the known world to the point that crap is literally everywhere and touching everything.

Now, the next day happens. People are mad about the crap being everywhere. Who is at fault, the dog owner or you? It's true that the dog's contribution was essential - but as to where the comparative fault lies, the dog's part of it is very small, and the subsequent crap multiplication and spreading is not foreseeable from the dog owner's point of view. Accordingly, most of the fault is allocated to another party. This makes a lot of sense to me, and in fact that's why we have incorporated it into our legal system as means of allocating responsibility.

 

You know what annoys me the most. Is that even after the election is over, you have people acting like it isn't. You'd think everyone would get behind the country and the president for a few weeks at least.

I mean, politics is so strange when you think of partisans. They are so irrational because they look at the other side and think - they offer nothing.

They THINK that. Or at least the partisans in this board do.

But that's so ridiculous - each side has done so much for the country. Republians have really lowered taxes from 70% to a much lower rate to help encourage investment. Reagan made a big difference. But then they try to go to extremes with it. Deregulation is great, but not to the point where companies start abusing the countries interests.

Dems have done so much to create a stable republic. Their progressive views have created equal rights for all, have tried to create opportunity for all, and protect the citizens to ensure they are able to not only be free in their own country, but also breathe clean air and health.

Why does one side demonize the other so much? I mean, do you republican die hards really want to live in a country where 25% of the country lives in abject poverty? Is that good for your kids? Is that wise? Do you think you can create a wall and seperate yourselves from it forever?

Do dems really want to to expand gov't breuarcracy to the point that getting any business done is more of a nightmare? Do you realize how hard it is to do simple things when dealing with the gov't?

C'mon people - can we get past a bit of this petty bickering about demonizing or angelicizing one guy or another and just say we are all really scared about what's going on and hope that whatever the President and Congress comes up with that it succeeds - whether or not we agree with it?

 

Another day, another massive drop for the markets. Every time Geithner opens his mouth the market takes a dump.

....but....I thought Barack said that stocks are "potentially a good buy, if you have a long term horizon". I feel that hope, brother. I feel it.

 

Post #51, second video.

 

Stewart doesn't know what he's talking about. He's preaching to the uneducated masses who only have the most superficial understanding of financial markets.

It's clear that the market has zero confidence in the Obama administration's plans

 

I have never understood the situation as clearly as I do now. I feel like I need a shower, but I have a visceral understanding etched in my brain.

Thanks, Sam.

 

HAHAHA! Your response makes it even funnier... and prescient.

 

Umm - the same Jim Cramer on CNBC??? I wouldn't take financial advice from him or CNBC:

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Except when it doesn't - yesterday, for example.

 

I don't know what industry you work in but I hope it is not the energy industry. Obama's new budget provides for a $30 Billion + tax increase on this nation's oil and natural gas producers. He strips most of the incentives to explore and produce gas here in the US. This will crush the domestic producers incentives to drill. This will cost thousands of jobs. People may say "good they have been making too much anyway" those same people will be paying those taxes in their energy bills.

If you live in Texas this is bad and I damn sure would like to see it Demonized.

 

I like your analogy, I really do but the problem is the "magic crap multiplying machine". In this case the crap is bad loans and the multiplier is legislation designed to squeeze as much crap out of that poor dog as possible.

The mental picture you create is priceless though, thanks.

 

And the telephone crushed the telegraph which crushed the Pony Express.

Time for a change before it is absolutely forced upon us.

 

^^^I've read that ND alone could power over 1/3 of the entire US with wind power.

 

^^^That's a great picture. Someone phone Palin and let her know that the aleutian islands are gold mine (I think they are wildlife sanctuaries, actually?). I bet she could see Russia better from there too.

 

That's because congress failed to pass the the Pony Express bailout of 1862 and then the telegraph bailout of 1935.

 

I laughed.

 

Short-term sacrafice for a long term sounder future. That money will go into building out new energy industries. So if the oil and natural gas industries suffer a bit and shed a few thousand jobs, who cares if the investment into new technologies create 10's of thousands of jobs of the future.

It's too bad the energy companies don't do more to re-invest their wealth into becoming the energy companies of tomorrow - instead of buying up land and rights to drill but never doing anything with them...they don't need too - there's no such thing as an energy shortage for an energy company afterall.

 

Well you both have the analogy wrong. Here's how it is:

A dog (someone who gets a loan they shouldn't get) takes a crap (gets a mortagage).

The guy who fed the dog that crap then takes the crap and sells it to a crap warehouse. The warehouse takes all the dog craps that have been collected and puts it into it's warehouse.

There's not a big fat warehouse entirely full of crap.

The warehouse finds someone to service the crap because they just collect it, and don't want to deal with all the stink. The servicer then works with the warehouse to find a bank. The bank than buys all the craps and mushes it together and slices it into dried out crap slices.

The rating agencies stop and say - hey, that's crap just sliced up! So the banks do some more cutting up, treatment, and make the slices a bit thicker - so it no looks like baloney.

The banks then tell the rating agencies - hey, we sell you a lot of business by the way. The rating agencies say, "hey, it's cool, this is baloney"

The banks then sell the baloney to investors, other banks (like AIG), and keep some of it themselves unaware that the baloney might actually be crap.

Meanwhile...the dogs are having trouble making the crap because they don't have enough dog food. So the crap is thinner. Without as much crap, the crap slices look less like baloney - get thinner and thinner - and everyone goes - holy crap, my baloney is just a bunch of worthless crap!!!!