Obama slams thriving Wall St? Stocks plunge.
In the weekly address from the "office of the president-elect", an office that exists only in Obama's world, a troubling quote was delivered.
Apparently Obama does not believe that that we can NOT have a thriving Wall St. when Main St. is suffering. What is interesting to note is that this speech was delivered Friday where the market action was peculiar at best. Stocks were in a hole all day and finally went into positive territory at around 3pm, suddenly within an hour the market shaved off all of it's gains. This kind of action can certainly be attributed to profit taking before a weekend, perhaps the Summit was spooking people - or maybe it was this beauty of a speech.
You see, when half of the working families in America have a 401k retirement fund - a thriving Wall St. ensures that Americans can retire peacefully. A thriving Wall St not only helps companies tap into funds, but also puts money back into the pocket of Americans. Lastly and most importantly a thriving Wall St. always indicates a thriving economy. When the economy is in a full blown recession, not much thriving is going on - if you catch my drift. Not counting the delay (market always turns before the economy) I challenge Obama to point to a time in history where the market thrived, but Main St. suffered, such allegations are nonsensical at best and criminal at worst.
However when you consider that the other half of the working class does not even pay income tax, let alone have a 401k fund then why would they care? Especially when you realize that this group of people make up Obama's constituency. Not only will he distribute money via tax credits to them, but he can wage war on Wall St and feel safe knowing that this base will always support him - because they DO NOT CARE. They might begin to care later when companies begin staging mass layoffs, but linking the two events together is beyond the capacity of most Americans.
Disturbing. This is all disturbing.
Apparently Obama does not believe that that we can NOT have a thriving Wall St. when Main St. is suffering. What is interesting to note is that this speech was delivered Friday where the market action was peculiar at best. Stocks were in a hole all day and finally went into positive territory at around 3pm, suddenly within an hour the market shaved off all of it's gains. This kind of action can certainly be attributed to profit taking before a weekend, perhaps the Summit was spooking people - or maybe it was this beauty of a speech.
You see, when half of the working families in America have a 401k retirement fund - a thriving Wall St. ensures that Americans can retire peacefully. A thriving Wall St not only helps companies tap into funds, but also puts money back into the pocket of Americans. Lastly and most importantly a thriving Wall St. always indicates a thriving economy. When the economy is in a full blown recession, not much thriving is going on - if you catch my drift. Not counting the delay (market always turns before the economy) I challenge Obama to point to a time in history where the market thrived, but Main St. suffered, such allegations are nonsensical at best and criminal at worst.
However when you consider that the other half of the working class does not even pay income tax, let alone have a 401k fund then why would they care? Especially when you realize that this group of people make up Obama's constituency. Not only will he distribute money via tax credits to them, but he can wage war on Wall St and feel safe knowing that this base will always support him - because they DO NOT CARE. They might begin to care later when companies begin staging mass layoffs, but linking the two events together is beyond the capacity of most Americans.
Disturbing. This is all disturbing.
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