Balkinization: The wisdom of the market?

Comments:

Intrade at 7.5/7.9 B/A for McSame.

IETM at 6.2/7.2 B/A

Buy high, sell low. At least you'll get back 50¢ on the dollar, "Bart". Best money you ever spent.

Cheers,

# posted by

Arne Langsetmo : 4:22 PM

Bart opined that McSame was a bargain at $.20. That's about 25 cents on the dollar.

You know, if I had me those kind of results to 'fess up to, don't think I'd be spouting any more political predictions for public consumption.

# posted by

jpk : 4:37 PM

Apropos of Prof. Levinson's post-election day wish, this news flash.

# posted by

Dean C. Rowan : 4:39 PM

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# posted by

Bart DePalma : 4:55 PM

Sandy:

The LIBOR (interest rate for bank to bank lending) fell again overnight. The markets do not read 538.com. The markets already factored in the risk of an Obama win when it fell the last 10%. Indeed, CBS Marketwatch ran an article on how to Obama-proof your portfolio today.

# posted by

Bart DePalma : 4:57 PM

"Obaama proof your portfolio"

Of all the idiotic concepts I've herd the last few months, that rates among the dumbest.

# posted by

Charles Gittings : 4:59 PM

Charles:

Actually, Obama-proofing your portfolio is pretty hard, but it can be done.

Get out of US stocks entirely. When Obama raises capital gains taxes they will fall like rocks.

Follow the lead of the rich and middle class in places like Venezuela and move your money overseas to buy foreign stocks and bonds.

If you must buy domestic stocks, stay away from the domestic coal and oil stocks and buy into the carbon offset scams...er, companies that contributed the most to Obama as wells as stocks in foreign oil refiners as the US is compelled to import even more refined product because of a lack of domestic production.

# posted by

Bart DePalma : 5:21 PM

Bart,

You're talking to a life master Bridge player Bart, and you're just being silly.

"For what is a man profited, if he shall gain the whole world, and lose his own soul?" Matthew 16:26

Or to put it another way: it's like playing Russian roulette with an Uzi on full-auto; or alternatively, you've enslaved yourselves to a machine that milks people like cows.

# posted by

Charles Gittings : 5:38 PM

But I don't know why I even bother.

You don't understand what's said you Bart, for the simple reason that you don't want to.

You aren't even listening. You could try reading the preamble to the Constitution, but the words will just go in one ear and out the other without stopping in the middle.

# posted by

Charles Gittings : 5:48 PM

Bart:

Your position is not clear. Is an Obama win already priced into the market or not?

If it is, then the market is much more up to speed than you are. If it is not, then -- in your view -- the market should drop tomorrow in the event of an Obama win, right?

Stating that the "risk" of an Obama win is already priced into the market just won't cut it.

# posted by

pinkerd : 6:37 PM

Get out of US stocks entirely.

Spoken like a true patriot...

# posted by

PMS_CC : 6:44 PM

Bart: Your position is not clear

It's clear alright. Bart wants to blame the Bush financial meltdown on Barack Obama, who hasn't even won the election yet, let alone assumed the presidency.

Keep it coming, Bart. We hang on your every word.

# posted by

mattski : 7:32 PM

Bart said this election would "come down to a point or two." I'm going to wait for the results before I decide whether he has any credibility on these other matters.

# posted by

Steve M : 7:34 PM

Futures markets are diverging. IETM had McSame at a penny, but Intrade has him up a penny to 6.2/6.9 B/A. Too bad "Bart" bought the IETM futures, eh? Maybe we ought to pass the hat for him....

Cheers,

# posted by

Arne Langsetmo : 8:51 PM

... or "Bart" can go to Washington looking for a bailout. Your "free market" in action. ;-)

Cheers,

# posted by

Arne Langsetmo : 8:53 PM

FauxSnooze calls Ohio for Obama.

IETM: 1 ¢ ... 0.6 ... 0.5 ... 0.4 ...

Be rational, "Bart". There's still some value. Sell, sell, sell!!!

Cheers,

# posted by

Arne Langsetmo : 9:41 PM

Well, it appears that Obama drew enough of the Reagan Dems to gain the first majority since Carter.

Congrats to you Dems on a well earned victory.

Enjoy the win. I have enjoyed the last 28 years. Now it is your turn.

DC is now yours with no excuses. The next four years will determine whether this is a realignment or a repeat of 1992.

# posted by

Bart DePalma : 9:43 PM

Bart: You are such a sore loser. Like you said in your anti-American and unpatriotic words in this thread: pull your money out of all America investments--and America period--and get out for good if you don't like this country. We don't need anyone who does support America financially. Get out and go where you feel comfortable.

# posted by

Unknown : 12:25 AM

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# posted by

Arne Langsetmo : 3:42 AM

"Bart" the unapologetic (and uncomprehending) 'spinner':

DC is now yours with no excuses. The next four years will determine whether this is a realignment or a repeat of 1992.

What? Eight years of peace and prosperity? We should be so lucky. And this time, if that transpires, the public may catch on and decide to ban the Rethuglicans from ever holding positions of responsibility any more (preferably though the franchise of an awakened electorate).

Cheers,

# posted by

Arne Langsetmo : 3:43 AM

Congratulations to President-Elect Obama and to the American people who, by a majority, have had the good sense to repudiate the extreme right policies of the Bush Administration and of the neoconservative infiltrators of the Republican Party.

I trust this good beginning will mark a return to civility in US politics as well as in the US conduct of international relations.

I could not fail to note LSR Bart's advice:-

"Follow the lead of the rich and middle class in places like Venezuela and move your money overseas to buy foreign stocks and bonds."

I think I remember this phenomenon: it was so popular at one time that Bernie Cornfeld (of Investors Overseas Services notoriety) referred to the executive jet used to export funds from Latin America as belonging to "Capital Flight Airlines".

Just the sort of "greed is good" solution LRS Bart would advocate. I recollect that in the IOS days a number of right-wing military coups resulted from the economic consequences.

Now that Colorado has gone blue by 53% to 46% overall, I wonder if LSR Bart will be advocating secession for Colorado Springs, or perhaps he will prefer to relocate to Sarah Palin's Alaska.

# posted by

Mourad : 5:32 AM

Bart:

Serious question. Obviously, the polls were pretty much right and you were pretty much wrong about the polls. My question is, did you really honestly believe the polls were that far off, or were you just being an "advocate"?

# posted by

Unknown : 8:59 AM

jslater said...

Bart: Serious question. Obviously, the polls were pretty much right and you were pretty much wrong about the polls. My question is, did you really honestly believe the polls were that far off, or were you just being an "advocate"?

Once the dust settles, I will be doing an analysis of the pre-election and exit polls. However, the actual voting results do tell us some things before the analysis.

There were two groups of polls - one largely correct and the other substantially incorrect. The historically accurate polls (Battleground/Rasmussen/IBD/TIPP) appear to have predicted the race pretty closely. The other group (NYT/Gallup/Etc) with double digit margins were way off.

My criticism of the polling was that they were over counting the Dem voting percentage and/or undercounting GOP voting percentage. I need to compare these polls with the exit polling to see whether Obama indeed increased the number of Dems and decreased the number of GOP or we kept about the same historical partisan proportions and Obama simply convinced more Dems, GOP and Indies to vote for him when compared to prior Dems since Reagan.

I was not being an advocate. I put my money where my posts were. Unfortunately, this is the first presidential pick I have made incorrectly, so the historical trends I was using have obviously changed. I hate being wrong so I will be taking a look at what has changed and add it to my future calculations.

# posted by

Bart DePalma : 11:40 AM

Sandy:

As I expected, the markets in the EU and here fell after the election news.

Are you sure you still believe in the wisdom of the markets?

I am keeping my money out until I see whether Obama keeps his rather conservative campaign promises or, as I expect, reverts to his socialist leaning and "lurches to the left" as he promised not to.

I doubt I will be the only one in a wait and see mode.

# posted by

Bart DePalma : 11:44 AM

As I expected, the markets in the EU and here fell after the election news.

I thought you said that "the market already factored in the risk of an Obama win?"

# posted by

Bartbuster : 12:05 PM

jslater:

I projected a 1996/2000 level partisan breakdown of 39% Dem, 35% GOP and 26% Indi based on past CNN exit poll data.

The 2008 CNN exit poll data shows 39% Dem, 32% GOP and 29% Indi.

The same percentage of Dems voted. However, it does appear that the GOP did not show up for John McCain, falling from 37% of the vote in 2004 to 32% in 2008, while the Indis did show up for Obama.

Perhaps the GOP was not fired up to vote for their "Maverick" after he pissed on them so many times in the past and/or were simply depressed because of the full court Dem media press on the inevitability an Obama victory.

Also, Obama attracted a substantial number of Reagan Dems as did Bill Clinton before him. This could either signal a realignment or simply a vote for the moderate Dem as a change after a recession ended a long period of GOP presidency as was the case in 1992. Time will tell.

Finally, there was a Bradley Effect in that the exit polls did substantially over estimate the Obama vote in multiple states, but it was not near the 7% level in the primaries. This indicates that many of these voters wanted a Dem other than Obama, but not John McCain.

# posted by

Bart DePalma : 12:16 PM

Baghdad, you have been completely wrong about the last 2 elections. You were not even close. Do you actually think your "evaluation" of the poll numbers carries any weight at all?

# posted by

Bartbuster : 12:27 PM

Shorter "Bart":

"I was right. Right, I tell ya!!!!'

"Bart" from a couple threads back:

Its too late to send the college more money to put on McCain or I would definitely send them another $100.

These exit polls are fantastic!

"Bart": Would you kindly just STFU? You're stinking up the place, and pretending that we are the ones with STM deficits is really insulting.

Cheers,

# posted by

Arne Langsetmo : 1:27 PM

Hey Bart, where's your Bradley Effect?

# posted by

Eric : 2:45 PM

I can't believe that Professor Levinson is serious in suggesting that yesterday's market action can be attributed to Obama's impending election. But if he is, I guess today shows that the market is expecting it to be a very short presidency.

# posted by

mls : 3:10 PM

In fairness to Bart, he was answering a question I asked him.

I'll look at the weighting assumptions, but pretty clearly, a number of the pollsters were spot on in 2008, and a number underestimated Obama's appeal (as, of course, a few overestimated it). I don't think there was much evidence of a "Bradley Effect" at all.

And you should have noted that Nate Silver at www.fivethirtyeight.com was astonishingly accurate in his predictions both of the popular vote and EC count.

# posted by

Unknown : 4:00 PM

If you want to know what is going on in an election, you go to 538.com. If you want to think "these exit poll numbers are great" as your candidate crashes and burns, Baghdad Bart is your political "guru".

# posted by

Bartbuster : 4:18 PM

mls said...

I can't believe that Professor Levinson is serious in suggesting that yesterday's market action can be attributed to Obama's impending election. But if he is, I guess today shows that the market is expecting it to be a very short presidency.

Folks' 401Ks and IRAs just lost 5% today in anticipation of the New Era of The One.

For some strange reason, I guess investors are not encouraged by the impending capital gains tax hikes, income tax hikes and Obama's promise that: "Under my plan of a cap and trade system, electricity rates would necessarily skyrocket:"

# posted by

Bart DePalma : 4:24 PM

Folks' 401Ks and IRAs just lost 5% today in anticipation of the New Era of The One.

I though you said the markets had already adjusted for our new overlord?

# posted by

Bartbuster : 4:37 PM

bartbuster said...

I though you said the markets had already adjusted for our new overlord?

I didn't say they were through adjusting or I would already be back in the market.

The markets will probably bounce around between 8500 and 9500 until we get news as to Obama's intentions concerning his nominee for Sec Treasury and then what anti-business and tax legislation is coming down the pike.

If Obama does not appoint a star to Treasury, the markets will dive. I think he knows this and will find one.

If Obama proposes any Hoover/FDR style anti-business legislation on trade, carbon caps or eliminating union secret ballots, or a tax increase, the markets will dive. I am not at all sure this quasi-socialist along with Pelosi and Reid have any comprehension of the damage such acts would cause an economy in recession, thus we could be in for the market dive.

# posted by

Bart DePalma : 5:07 PM

This comment has been removed by the author.

# posted by

Arne Langsetmo : 6:59 PM

I didn't say they were through adjusting or I would already be back in the market.

Oh, you can jump into the IETM market at any time, Mr. "Warren Buffett" DePalma, because you can play that one any way you want. And we've noted your acumen there.

Stop please. Really. Everyone knows you're full'o'it, and these last few days are just the icing on the cake that proves that.

No one wants to hear what you have to say. Really. No one. Period. And you have all the freedom you want to stink up your own blog with your little brain farts rather than annoying sober people here. So please do so. It's the right thing to do.

Cheers,

# posted by

Arne Langsetmo : 6:59 PM

I am not at all sure this quasi-socialist along with Pelosi and Reid have any comprehension of the damage such acts would cause an economy in recession, thus we could be in for the market dive.

Hey Einstein, maybe you didn't notice but the markets dove.

That's dove, which rhymes with "stove". Also, the Democratic leadership which you cite has a far deeper understanding of economics than you ever will in your entire lifespan, I can guarantee you that. You're a financial nincompoop, but that's not news to the readership here.

# posted by

mattski : 7:04 PM

I didn't say they were through adjusting or I would already be back in the market.

I know. You were just spewing nonsense.

# posted by

Bartbuster : 9:06 PM

# posted by

Bartbuster : 9:09 PM

Arne, Bartbuster and the like (you know who you are)- ok, the election is over. As Barack Obama might say, its time to turn the page. Its time to try something different. Its time to embrace the future.

Now I have no idea what he means by that, but what I mean is this. CUT IT OUT. Stop the personal insults, the “cute” nicknames, the colorful misspellings, and the general nastiness. Just stop it. Seriously, it is really, really tiresome.

As far as I can recall, Bart has never responded in kind to any one of the thousands of personal shots you have taken at him. Doesn’t that make you feel a tiny bit foolish? Do you talk to people in real life like that, or do you think the internet gives you license to act like a third grader?

And while you are at it, you can stop referring to Senator McCain as “McSame.” It was juvenile during the election. Now its just pathetic.

# posted by

mls : 10:26 PM

@mls,

Are you kidding me? Bart is a vandal, nothing less. No amount of razzing is too much or more than he deserves. Sure, I've argued we [his political opponents] would be better served to simply ignore him. But in the almost three years I've been frequenting this site he has been such a persistent partisan shill, such a dedicated GOP propagandist, such an unrepentant PNAC apologist that, well, there's really no underestimating the animosity he has earned with his habitual intellectual dishonesty and general thuggishness. He's a blight on the conversations here and any childishness you complain of originates from his childish insistence on coming here to fulfill his pathetic need for attention. I may never forgive Glen Greenwald for banning Bart from his site and causing him to land here.

Get our hosts to give the ol' SCCS the boot he so richly deserves and watch the caliber of the conversation soar.

rl
(flashing back to the horror of forcing the LSR to admit that nothing in the text of the MCA precludes it being used as a tool of political repression. grr. you have no idea what "tiresome" is.)

# posted by

Robert Link : 10:51 PM

mattski said...

Also, the Democratic leadership which you cite has a far deeper understanding of economics than you ever will in your entire lifespan.

:::chuckle:::

I minored in economics and run a small business.

Obama, Pelosi and Reid have no earthly idea how a free economy works and have never turned run a profit making business in their lives.

Obama pines about lost opportunities for "redistributive change," ignorant that every country that adopted this socialist agenda has been left in the dust by free economies.

Pelosi is the daughter of a congressman who married into money and dedicated her life to nothing but party politics.

Reid's experience in economics primarily arises from investing in property through a cutout and then tripling his money by influencing the Las Vegas zoning board to rezone the property commercial for a shopping center. While Reid's return on investment was impressive (although not Hillary futures impressive), most folks outside of the Senate leadership could not use this as a model for US economic growth.

# posted by

Bart DePalma : 11:03 PM

This comment has been removed by the author.

# posted by

Arne Langsetmo : 12:11 AM

[MLS]: Arne, Bartbuster and the like (you know who you are)- ok, the election is over. As Barack Obama might say, its time to turn the page. Its time to try something different.

"Can't we just moooovvvveee oooonnnnn???? <*waaauuggghhh*>"

Yeah. Like stopping with the bullsh*te and Rethuglican "talking points". I'm all for it.

I know "Bart" likes "turning the page" (or going to a new thread), because it frees him from having to account for his own stoopidity and dishonesty. But that's hardly a way to actually move forward.

Cheers,

# posted by

Arne Langsetmo : 12:13 AM

"Bart" DePuffery:

I minored in economics....

Yeah. You also purport to be a lawyer (see the whole thread for the gruesome details) and we see what that piece of paper is worth....

But to be honest, the only hard evidence we have of your acumen is what you post here, and we take it for what it is so obviously worth. Did you manage to sell your McInsane IETM shares before they augured in completely?

Cheers,

# posted by

Arne Langsetmo : 12:24 AM

Little Lisa's bro continues to "chuckle" with his colon(s). Was that his major to his minor in economics? (Comparison: George W majored in Cheerleading, minored in history, at Yale.) 2012 for our crepitating buddy?

# posted by

Shag from Brookline : 8:20 AM

Shag:

Little Lisa's bro continues to "chuckle" with his colon(s).

Didn't sound like a chuckle to me. ;-)

Cheers,

# posted by

Arne Langsetmo : 8:39 AM

Now I have no idea what he means by that, but what I mean is this. CUT IT OUT. Stop the personal insults, the “cute” nicknames, the colorful misspellings, and the general nastiness. Just stop it. Seriously, it is really, really tiresome.

When Baghdad Bart turns the page, I'll turn the page. Until then, go fuck yourself.

# posted by

Bartbuster : 9:02 AM

This comment has been removed by the author.

# posted by

Bart DePalma : 1:25 PM

After the markets dropped 5% the first day following the Obama election, shattering the record for post election market collapses, the Obama panic continues today as the Dow has now fallen another 4.% as of this posting.

Obviously, investors are casting their ballots on the prospects for the next four years.

# posted by

Bart DePalma : 1:27 PM

Obviously, investors are casting their ballots on the prospects for the next four years.

# posted by Bart DePalma : 1:27 PM

You should take some of the payoff from your McCane investment and buy low. Oh, right...

# posted by

Bartbuster : 1:34 PM

Obviously, investors are casting their ballots on the prospects for the next four years.

Considering that the tanking market helped get Obama elected, I'd say that the market, and you, need some Prozac.

# posted by

Bartbuster : 1:38 PM

Obama ia supposed to have his first post election press conference tomorrow. He needs to assure the markets that tax increases and various other anti-business measures like union card check and nationalization of 401Ks (and de-capitalization of much of the stock market) being discussed by the wingnuts in the Congressional leadership. This uncertainty is scaring the hell out of the world wide markets.

My retired mother is cutting way back on spending because she does not want to realize heavy losses by withdrawing money out of her IRAs and is no relying upon social security and her bank savings.

This going way beyond partisan BS. It's time that Obama starts acting like a grown up who will be trusted in the Oval Office and remove this uncertainty.

# posted by

Bart DePalma : 4:46 PM

This going way beyond partisan BS. It's time that Obama starts acting like a grown up who will be trusted in the Oval Office and remove this uncertainty.

# posted by Bart DePalma : 4:46 PM

Bart, shut your ignorant pie-hole. In a few months the adults are going to start cleaning up the mess you wingnuts created.

# posted by

Bartbuster : 5:15 PM

Actually Bart, it's just time for you to SHUT UP.

# posted by

Charles Gittings : 5:15 PM

Seriously, we've had 8 years with the class clown in charge, and now you think the problem is Obama?

# posted by

Bartbuster : 5:16 PM

Charles:

You folks wanted Obama to take over immediately. At this point, so do I.

Obama needs to reassure the markets NOW. No more rhetoric. He needs to make his intentions clear immediately.

# posted by

Bart DePalma : 5:28 PM

Oh listen to you.

"Reassure the markets..."

Should he buy them a round of drinks maybe?

Sing them a lullaby?

Hit 'em in the ass with a tranquilizer dart?

Do you have any actual understanding of markets Bart?

It happens I own some stock too, but can't imagine how anything that might reassure you would reassure me or any of the other people who just kicked your greedy lying delusional ASS in the election. We're already VERY reassured, our relief is unbounded even.

"NOW" you say??

Or what exactly Bart?

Are you going to hold your breath until you turn blue or something?

Emigrate to Singapore and never come back?

What??

Obama doesn't NEED to do anything but get the transition up and running, and he's shown every sign of being just as deliberate and focussed about that as he was about the election campaign. He's holding a press conference tomorrow, and I'll be very surprised if the economy isn't a major topic.

The only thing that really NEEDS to happen here is that you need to get something straight Bart: you people lost the election for a number of very good reasons, the biggest one being the disastrous economic policies of the Bush administration and Republican Party.

Want to be reassured do you??

My advice: make an appointment with a good shrink -- they can prescribe something for your anxiety, which I predict is going to increase exponentially for the foreseeable future.

# posted by

Charles Gittings : 10:37 PM

Charles:

You look like you are closing in on retirement age.

Do you have investments to support you in your dotage?

If so, how is your 401K or IRA doing these days?

Perhaps you are independently wealthy or planning on living in poverty on social security, but millions of your fellow citizens including my parents are seeing their retirement evaporate.

Being granted power in an election is more than your juvenile game of partisan gotchya. It means the President elect (if not his supporters) has the duty to act like a responsible adult.

I do not think that it is too much for a President elect to take a half hour off from planning his inaugural parties to simply reassure the markets that he does not plan to pillage them with new taxes and 401K confiscations in the near future.

If Obama does have such plans, the man could at least be honest about them so my parents can get the rest of their life savings out of his way before the market crash.

# posted by

Bart DePalma : 12:07 AM

This comment has been removed by the author.

# posted by

Charles Gittings : 1:54 AM

**MY** "juvenile games of partisan gotcha"???

You got that one a little bit backwards Mr. Spin Machine -- I just don't like fascists or fools, and you're both.

And don't patronize me. I'm 56 and have a family the same as everyone else does. If money was a solution to anything, we wouldn't be having this conversation. You Republicans just spent eight years proving that you could waste any amount of money and accomplish exactly nothing worthwhile.

We'd be better off going back to subsistence farming.

# posted by

Charles Gittings : 2:01 AM

Clueless "Bart":

Perhaps you are independently wealthy or planning on living in poverty on social security, but millions of your fellow citizens including my parents are seeing their retirement evaporate.

Well, you can thank Rethuglican efforts to gut unions and defined-benefit pensions for that....

Cheers,

# posted by

Arne Langsetmo : 7:13 AM

The RW authoritarian in action:

I do not think that it is too much for a President elect to take a half hour off from planning his inaugural parties to simply reassure the markets that he does not plan to pillage them with new taxes and 401K confiscations in the near future.

After not voting for Obama, "Bart" is under the delusion that Obama should listen to his shrieking.... <*SHEESH*>; Suck on your pacifier, "Bart". Please.

Cheers,

# posted by

Arne Langsetmo : 7:16 AM

"Bart" DeTotallyClueless:

If Obama does have such plans, the man could at least be honest about them so my parents can get the rest of their life savings out of his way before the market crash.

There's a "free market". You know, that means you get to buy and sell whenever you want.

In fact, if Obama's planning to trash the economy more that "Bart's" friends have done as "Bart" is insisting here, then "Bart" shouldn't be insisting that Obama announce such at a press conference before "Bart"'s parents liquidate.

Because ... because ... <*wait for it*> ,,, the wonder of "free markets" is that it supposedly rewards the best financial insight and perspicacity. If "Bart"'s unfortunate parents wait until Obama tells everyone else his evil plans, then the markets will have already tanked, having digested this sobering news, by the time his parents try to sell.

Instead, "Bart" should guarantee his own parents that he alone understands the insidious evil of Obama's planned machinations, and that they should immediately "short" the market to catch a wave on the coming deluge, with "Bart" to guarantee their profits (in an All-Amer'kun kind of way) so they can rest easy in their retirement. It's the beauty of "free markets"!

Cheers,

# posted by

Arne Langsetmo : 7:28 AM

I do not think that it is too much for a President elect to take a half hour off from planning his inaugural parties to simply reassure the markets that he does not plan to pillage them with new taxes and 401K confiscations in the near future.

If Obama does have such plans, the man could at least be honest about them so my parents can get the rest of their life savings out of his way before the market crash.

# posted by Bart DePalma : 12:07 AM

Baghdad, Obama is under no obligation to reassure nutcases like you. If you think he's about to pillage your 401K, you'd better hurry up and hide it in your mattress.

# posted by

Bartbuster : 9:10 AM

Thankfully, it appears that Mr. Obama is not as utterly clueless and callous as some of his supporters.

NPR is reporting that the economy in general and the markets in particular will be the only real subject of media questions at the Obama press conference and Obama is reportedly huddled with his advisors developing a messages to - you guessed it - reassure the markets.

The markets stopped their slide this morning to listen.

# posted by

Bart DePalma : 10:06 AM

Baghdad, I bet he wasn't planning to do that until he heard you were demanding it happen.

# posted by

Bartbuster : 10:16 AM

Thankfully, it appears that Mr. Obama is not as utterly clueless and callous as some of his supporters.

That is an interesting assumption for someone who is convinced that he's about to pillage our 401Ks.

# posted by

Bartbuster : 10:24 AM

bb:

I am not assuming that Obama is set to nationalize 401Ks and IRAs ala Argentina. I posted that some leftingnuts in the congressional leadership are suggesting the course of action. I want Obama to step on the idea to reassure the markets.

Folks, I am rather pleased with Obama's selection of Rahm Emanuel as COS because Emanuel has a long history of relatively conservative positions and is the one who picked many of the Blue Dogs in the House. If Obama follows this up with a selection of free market economist Lawrence Summers as Sec Treasury, I will be thrilled. it means the grownups will be in charge of his Administration and Obam might actually govern from the center ala Clinton.

# posted by

Bart DePalma : 10:47 AM

bartbuster:

["Bart"]: Thankfully, it appears that Mr. Obama is not as utterly clueless and callous as some of his supporters.

[bartbuster]; That is an interesting assumption for someone who is convinced that he's about to pillage our 401Ks.

I'm afraid that you made a misteak, Bartbuster. You made an implicit assumption that anything "Bart" says is coherent and that any two things he says are purportedly consistent. I'm afraid the evidence is not on your side on that.

BTW, I'll wager a dollar to donuts that he doesn't respond to my skewereing of his eedjitcy in the comments prior. Now that's a "sound investment".

Another safe bet is that "Bart" will soldier on with even more eedjitcy in subsequent threads. It's a brain-stem extra-pyramidal tract reflex, I'm guessing....

Cheers,

# posted by

Arne Langsetmo : 10:51 AM

I am not assuming that Obama is set to nationalize 401Ks and IRAs ala Argentina

Interesting. So the fact that you have spent the better part of the last 18 months calling him a socialist and pointing to all the socialist things that he'll do when he is elected does not mean that you actually think he is a socialist. I'm glad we cleared that up.

Now that you have admitted that you don't actually mean anything that you post, is there any chance that you'll stop posting?

# posted by

Bartbuster : 10:54 AM

it means the grownups will be in charge of his Administration and Obam might actually govern from the center ala Clinton.

I distinctly remember you being very excited when the "growups" took over from the Clinton administration. And you have been blaming Clinton for everything that has gone wrong for the last 8 years.

With all the bullshit streaming from your head, how do you keep it from imploding?

# posted by

Bartbuster : 11:00 AM

bb said...

I distinctly remember you being very excited when the "growups" took over from the Clinton administration.

I was comparing the foreign policy teams.

The Clinton foreign policy team were afraid to take any action against our nation's enemies that might result in American or collateral foreign civilian casualties. As a result, we ignored al Qaeda until 9/11. In stark contrast, Bush has all but destroyed al Qaeda and established the first two democracies in the Arab world.

As to economic policy, I have repeatedly pointed out that Clinton was more conservative than Bush and actually completed the Reagan Revolution after being corrected by the voters in the 1994 election.

If Obama will at least follow the Clinton lead on economics, then at at least the economy should be OK.

As for foreign policy, Obama is in for a quick education in reality. The Russians are already moving nuclear missiles to the Polish border to challenge the rookie. Look for Iran to start pushing in the next couple months.

# posted by

Bart DePalma : 11:41 AM

I was comparing the foreign policy teams.

You are lying.

As a result, we ignored al Qaeda until 9/11. In stark contrast, Bush has all but destroyed al Qaeda and established the first two democracies in the Arab world.

You are full of shit.

# posted by

Bartbuster : 11:53 AM

As for foreign policy, Obama is in for a quick education in reality. The Russians are already moving nuclear missiles to the Polish border to challenge the rookie. Look for Iran to start pushing in the next couple months.

# posted by Bart DePalma : 11:41 AM

I hate to disasppoint you, but Obama isn't going to invade Russia or Iran.

# posted by

Bartbuster : 11:56 AM

"Bart":

In stark contrast, Bush has all but destroyed al Qaeda and established the first two democracies in the Arab world.

Stop drinking so early (is that field research for your DUI practise?) At best you're seeing double, but more likely, big pink elephants.

Cheers,

P.S.: After we "liberated" Kuwiat, weren't they supposed to give their people the franchise in gratitude? How's that going?

# posted by

Arne Langsetmo : 1:29 PM

During the press conference, Obama tap danced as usual on taxes, adding to the uncertainty in the markets. However, the truly appalling part of the press conference was Obama's suggestion that he intends to throw away tens of billions of tax payer dollars to help auto companies pay for insane union pension obligations.

It was bad enough to bail out the corrupt Freddie and Fannie as well as the inept banks. The only thing that made the bank rescue plan half palatable is the promise that the banks would absorb most of the losses and the tax payers would be getting equity for their money.

The hell with using our tax money as Obama's personal slush fund to pay for cadillac pension plans for his union supporters. Let the auto companies enter bankruptcy, give the existing pension funds to the unions to operate, and restructure the companies to compete again.

# posted by

Bart DePalma : 7:25 PM

Congress and the President have arrived at a pretty darn good bank rescue compromise

The rescue plan has gone from "pretty darn good" to "half palatable" in just 2 months. Baghdad, what happened?

# posted by

Bartbuster : 10:21 PM

During the press conference, Obama tap danced as usual on taxes, adding to the uncertainty in the markets.

The market went up today, you clown.

# posted by

Bartbuster : 10:24 PM

"Bart" DeClueless:

Let the auto companies enter bankruptcy, give the existing pension funds to the unions to operate, ...

The ones the companies ran into the ground and now want to skip out on?!?!?

What ever happened to personal responsibility (for the corporations that the U.S. kindly rebranded as "persons" a while back)?

Cheers,

# posted by

Arne Langsetmo : 10:24 PM