The Markets Vote on Obama (3)

In the continuing referendum on the prospects of the American economy under an Obama/Pelosi/Reid regime, the Dow has taken out 8000. It also promises to be an ugly day in Europe and Asia. Make no mistake, there was no market failure here. A combination of social engineering regulation from the Democrat Congress and George Bush's massive entitlements expansion introduced market distortions that brought us to this point. The markets from New York to London to Hong Kong to Sydney are now predicting more of the same and worse. Obama's Clinton holdover cabinet, the Congress of Clowns and his own rank ignorance of what makes an economy function all point to a very painful decade.

As a sign of what's to be expected, 90 year old corruptocrat Robert Byrd is replaced by 84 year old corruptocrat Daniel Inouye as head of the Senate Appropriations Committee. These quotes from The Hill say it all:

Rather than give big speeches on the Senate floor or in committee hearings like his predecessor, the senior Hawaiian senator will strike a lot more deals in the backrooms.

Well that's a relief.

Many insiders regard him as a team player, often doing what the Democratic leadership wants but not shying away from telling his superiors to do what he thinks is right.

I feel much better now.

Inouye will hold the gavel of the powerful committee without his friend, whom he calls “brother.” Stevens was convicted on corruption charges and his reelection to his Senate seat is in doubt.

God help us.