tag:blogger.com,1999:blog-8543388.post6347718841678581595..comments2023-12-22T04:23:23.229-08:00Comments on CONTRARIAN ADVISOR MARKET COMMENTARY: TRUMP CARD OR LAST STRAW?Marc Rhttp://www.blogger.com/profile/12875839439615683342noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8543388.post-70554166354949160252010-09-12T09:18:49.275-07:002010-09-12T09:18:49.275-07:00THIS IS THE ESSENTIAL MESSAGE AND TRUTH
"Whi...THIS IS THE ESSENTIAL MESSAGE AND TRUTH<br /><br />"Which brings us to another major cause of the Obama malaise. When it took office in 2009, many of us advised the Administration to focus on nurturing the recovery first and postponing social-policy priorities that would only add more economic uncertainty. All the more so given this recession's unusual financial roots.<br /><br />Instead, Democrats embarked on the most sweeping expansion of government since the 1960s, imposing national health care, rewriting financial laws from top to bottom, attempting to re-regulate the telecom industry, and imposing vast new costs on energy, among many other proposals. Not to stop there, in January it plans to impose a huge new tax increase on "the wealthy," which in practice means on the most profitable small businesses.<br /><br />Central to Mr. Obama's political strategy for passing these priorities has been trashing business and bankers as greedy profiteers. His Administration has denounced or held up as political or legal targets the Chrysler bond holders, Wall Street bonuses, Goldman Sachs, health-insurer profits, carbon energy investors, and anyone else who has dared to oppose any of its plans to "transform" U.S. society. <br /><br />Only yesterday at a Labor Day event in Milwaukee, Mr. Obama was at it again, declaring that "anyone who thinks we can move this economy forward with a few doing well at the top, hoping it'll trickle down to working folks running faster and faster just to keep up—they just haven't studied our history. We didn't become the most prosperous country in the world by rewarding greed and recklessness."<br /><br />Whatever else one can say about such rhetoric, it is not the way to restore business confidence or turn a fragile recovery into a durable expansion. It has only spread fear and even greater uncertainty."<br /><br />NO WAY to refute thatAnonymousnoreply@blogger.com