The markets are tanking because they’re afraid of the blacks and the Jews (and the women) grabbing all the money.
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If the rise in the price of oil from $70 to $140 was due to “greed” (the all-purpose explanation of the other side for every economic problem), was the fall from $140 to $70 due to a sudden outbreak of altruism?
Ugh. NO it was BECAUSE THE SPECULATION (re: GREED) STOPPED.
Ask the people who suffered until Enron if they think that rampant speculation was “fair”.
I’m so sick of this whole Gorden Gekko B.S. I could scream.
AAAAAAAAAAAAAAAAAAAAAAAAAAGGGHHH!!!!!!!!!!!!!
Here’s the thing, though: if you really believe that taxes are going to take a bigger bite of your income in a way that will affect your lifestyle, it makes sense to work harder so that you make more money and have the same amount left after taxes. So if Obama is threatening to raise taxes, that should mean people on wall street will be working to increase profits so their salaries go up to compensate.
There’s actually an economist named Gary Becker who posited things like this, including the notion that tax cuts would significantly increase savings, because people know that cuts now will be overbalanced by increases later to clean up the mess, and they’ll need those extra savings to take the hit. (This is something conservatives loved to cite, not so much the converse that increasing taxes will increase consumption and drive the economy…)
If we lived in the same universe as WSJ editors, so many things would be different. Enron would be the biggest name on the Fortune 500…
Ugh. NO it was BECAUSE THE SPECULATION (re: GREED) STOPPED.
That’s not even completely accurate. The dollar has been strengthening, and oil is valued on the dollar, so the stronger the dollar gets, the lower il prices get. Also, the high oil prices caused some changes in behavior—people are driving less, for example—and the economic meltdown has caused less purchasing, which means manufacturers are making less and shipping less and are using less oil as a result. Speculation was part of the cause, but what they were speculating on was that oil demand would continue to rise and the dollar wouldn’t strengthen. They were wrong for the moment and they lost some money.
And looking at the article, I almost hope Obama gets George Soros to be Treasury Secretary just to see their heads explode. That would be awesome.
Last I checked, the market was up 11% yesterday.
THANKS JEWS AND NEGROS!
What a piece of fear mongering crap. A reasonable minimum wage raises the ability of low wage workers to purchase things they need, it encourages job retention because retraining workers is as cost effective as ditching old ones and hiring new ones and it discourages poorly run, fly-by-night businesses. Oil prices, like many commodities, are designed to be speculative and so are unstable by nature.
Put the economy into the hands of adults instead of overage toddlers like George Newman.
Simple question:
This is all related to policy in the US. Why are the markets in the rest of the world tanking? If this is all true, wouldn’t investors pull out of the US and put their money somewhere where the free market has a freer hand?
It’s amazing how Obama forced years of bad lending that all happened to crash when he decided to jump seven points in the polls.
I could go on, but you get the point.
If the point is that you are insane then yes, I get the point.
Somebody please explain “marginal propensity to consume” to this so-called economist George Newman.
Dave, don’t forget we have to slide a little cut to the Negroes and homosexuals for their part in helping our Zionist Conspiracy. Maybe they spent it unwisely?
This is all related to policy in the US. Why are the markets in the rest of the world tanking? If this is all true, wouldn’t investors pull out of the US and put their money somewhere where the free market has a freer hand?
Where would that be?
Ok, give me a moment to blissfully imagine Gore in charge of energy policy and Clinton in charge of health care . . .
All right, now that I’m in a good mood, I guess I can go back to writing checks to cover the portion of well-baby checkups and asthma medication that my insurance doesn’t think are necessary.
Markets are all knowing and all seeing = root = God.
“Rises in rivers in power of the sun
Rises in sea level, look out Mammon’s bastard son
Infidels are praying at the stock exchange
Chrome camels are crashing on the smooth terrain”
-Midnight Oil (Now or Neverland - 1993)
Shorter Newman: Capitalism is dependent on exploitation of (workers/resources/tax loopholes).
I think all the WSJ editorial staff should allow News Corp to lower their salaries and benefits so that the company can better manage capital during these hard economic times. Surely a believer in supply-side theory would put himself on the chopping block to illustrate how beneficial worker exploitation is long-term for individuals and short-term for corporate profits.
He should start the trickle-down revolution with himself.
It’s amazing how Obama forced years of bad lending that all happened to crash when he decided to jump seven points in the polls.
Jesse, I think you of all people would know that things just don’t happen. Obama, having reached a seven-point lead in the polls, went back in time to the precise date needed to start the bad lending cycle so it would crash when he reached that seven-point lead. The details get a little hazy, but I’m sure that’s what happened.
And then he and Bill Ayers went and bombed something.
In fact, the market’s bearish behavior over the last couple of months pretty closely tracks Barack Obama’s gains.
I’ve been noticing over the past couple of months that the weather has gotten appreciably cooler, and leaves have been changing colors and falling off of trees. These changes in the weather have pretty closely tracked Barack Obama’s gains in the polls. Ergo, Obama causes autumn.
I’ve been noticing over the past couple of months that the weather has gotten appreciably cooler, and leaves have been changing colors and falling off of trees. These changes in the weather have pretty closely tracked Barack Obama’s gains in the polls. Ergo, Obama causes autumn.
ZOMG! Now I know why I’ve gained recently! DAMN YOU, BARACK!!!
“These changes in the weather have pretty closely tracked Barack Obama’s gains in the polls.”
...I just realized my hair’s been getting longer and longer, and this has been happening at the same Obama has been rising in the polls. Ergo…
<blockquote>This is all related to policy in the US. Why are the markets in the rest of the world tanking? If this is all true, wouldn’t investors pull out of the US and put their money somewhere where the free market has a freer hand?
Where would that be? </blockquote>
Haiti. Somalia. Maybe even Russia. So what if part of the operation of the free market involves buying men with guns to engage in transfers of wealth from your competitors?
And, you know, I’ve been getting laid a LOT more since Obama became the apparent nominee of the Democratic party, and it hasn’t stopped yet. So Barack Obama is also a sex god who is responsible for my being satisfied; it has nothing to do with my getting a boyfriend and then us moving in together.
I’m pretty pleased with Obama, then, personally.
They were wrong for the moment
Stress “for the moment”. Peak oil is still there.
Feel free to yell that instead of EvilObamaSocialism, perhaps the US should reinstate the same marginal tax rates as it had in the halycon days of the 60s...
And, you know, I’ve been getting laid a LOT more since Obama became the apparent nominee of the Democratic party, and it hasn’t stopped yet.
So INTPagan, what will your introverted self do for a sexually satisfying social life when the swinging phonebanking opportunities dry up?
Ms. Kate wins the internet for knowing what an INTP is.
Now, if Obama is elected, his prosperity will likely ensure at least four years of continuing gratification. Of course, strictly speaking, sexual intercourse is not an introverted activity since it diverts energy to an external source, but I can still have a satisfying sex life even sans swinging phone banks. I do not consider my social life to be sexually satisfying since I do not have one, but this is not regrettable, so I do not blame Obama - I’ll only do that when his fortunes fall, dragging mine down with them.
Ms. Kate wins the internet for knowing what an INTP is.
It’s not that difficult. I would advertise myself as INTJ, but, you know, I wouldn’t want to be seen passing judgement…
Heh. See, that’s what I love about these sites, though - liberalism generally has a very NF feel about it (what with the idealism of the whole thing) (and I am actually X on the T-F axis), but this, Feministe, LGM, and the others that I read have an NT edge to them. The majority of the posters, at bare minimum, seem to be NT. Idealism with logic. Nom.
They’re also apparently afraid of new jobs, energy efficiency, and people not dying from corporate malfeasance and negligence.
Good riddance to ‘em, I say…