Here are some consequences of McCain not being able to think things through beyond what to have for lunch:
1. Under McCain Feingold, Ronald Reagan could never have become President because most of his early campaign was paid for by a couple of rich Republican businessmen, who today could only give $1,250 each.
2. McCain’s law restricts elections to the two large, evil parties because only they have the staff needed to get around and evade the restrictions of the law. A brand new TEA Party candidate has no idea on earth how to recruit and organize hundreds of criminals to collect addresses of innocent people who are not able to contribute to political campaigns because they are poor. Acorn members and their neighbors are a perfect example. The Los Angeles Times found that Hillary Clinton’s 2007 Presidential Primary Campaign had the maximum $2,500 per married couple contribution from every person living in the poorest neighborhood of New York’s Chinatown. The LA Times reporters went to the addresses and often found that Hillary’s donors were not known to live at the address given on her reports to the FEC. Others included dishwashers who spoke no English and had no Green Card nor citizenship, and could not possibly have accumulated $2,500 to give to an American election.
Another example is Obama’s staff turned off the security feature for credit card contributions that verifies the cardholder’s names and addresses. That made it possible for one person using one credit card to donate $2,500 for an imaginary married couple, giving a different false name, address and employer for each donation. They also turned off the feature of the software program that resaved the credit card number!
So one person, using the same credit card, could contribute to Obama $2,500 for John and Mary Doe, 123 Main Street, employed at Acme electronics, and then contribute another $2,500 for John and Mary Fawn, 234 Main St, employed at Yellow electronics. Then the same person and credit card could contribute $2,500 for John and Mary Brown, 345 Main St, employed at Red Electronics, etc., etc., etc.
This was reported in major national newspapers and to the Federal Election Commission, which said since the credit card numbers had not been saved because of a “malfunction” in Obama’s software, they had no way to investigate the charges, so no harm, no foul.
Let me guarantee you that if a TEA Party candidate pulled something like that, the TEA Party candidate would be in jail. Well, if we cheated on our taxes like Obama’s best friends and appointees did, we would be in jail. If pigs had wings, it would not be safe to walk outside. Plop, plop. Borat’s droppings are falling from the sky on top of our heads.
Flee To Safety:Bear Market Rally Is A Trap
Posted in bailout, Barack Obama, Blogroll, financial crisis, news, tagged bailout, Barack Obama, bear market rally, depression, economy, market comments, news, politics, stock market crash, stock market forecasting, tax increase on March 29, 2009| Leave a Comment »
To see the graphical representation of this prediction, click on http://bigcharts.marketwatch.com/
select: advanced charts with nasdaq as symbol
10 years with frequency monthly
charts style candlestick
Notice that in Oct Nov Dec of 2001 there was a 700 point, 51 percent percent rally from the December 2001 low of 1387 up to almost 2100.
That was a much larger rally than the current fools’ rally which is only 21 percent so far.
BUT the 2001 fools’ rally was followed by a 52 percent, 990 point drop down to 1108 on the Nasdaq index.
The March 2009 low was 1265, and today the Nasdaq index is 1453.
My thesis is that this is a long term bear market. If I am correct than the current rally must drop down to the December 2001 low of 1450 and test that low before the Nasdaq market can stay higher.
Most likely we will fail that test and drop to 1,000 or lower on the Nasdaq.
Personally, my family is 100 percent in insured bank deposits and short term treasuries. Munis are too risky right now.
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