Stocks plunge as government unveils bailout plan
Traders and investors complained about what they saw as a lack of specifics from Treasury Secretary
Geithner's speech "basically puts a spotlight on the fact that the government has no idea how to fix the problem," said Jeff Buetow, senior portfolio manager at Portfolio Management Consultants. "People bought on rumor and hope, and now they're selling on reality." Now that is what one can call CHANGE but not the change that Obama , Queen Pelosi and Court Jester Reid were looking for. The other court clown has been silent for the past 24 hours. Guess Joe can’t say much since this is doing nothing for the middle class, you know the group that he is suppose to lead beside still waters and into green pastures to where the goats dwell.
An increasingly tough sell
A recent poll by Pew Research Center found that a narrow majority of Americans, just 51%, support the stimulus. And that's down from 57% in January. Even worse for the administration, support seems to be dropping among people who say they've learned more about the stimulus:
And now you know why ‘the One” wanted to ram this thing down our throats as fast as possible. An informed public will not long stand for such nonsense. Too bad they were not as informed before the election or we would be having a totally different and probably lighter conversation.
So far the best quote of the week: Actually, I liked the idea of the guy who stood up at Obama's town meeting in
"Send that check to our mailbox," he said. At least we’d know where the money went.
REAL STUPID REMARKS:
One of the dumbest comments made and just when we thought VP Joe Biden was king of foot in mouth.
As the Senate voted 61-37 (thank you Senators Snowe, Collins, and Spector) to pass the porkulus bill earlier today, Senator Chuck Schumer gloated:
And let me say this: To all of the chattering class that so much focuses on those little tiny, yes, porky amendments -- the American people really don’t care.
If you wish you can watch the dripping arrogance and I will add ignorance for his stupidity will eventually catch up with him.
Just when I thought Chucky Schumer and Joe Biden held the record for saying stupid things along comes another one of the useful idiots John Kerry who had this to say about those who won’t jump through the hoops on the Porklus bill and the American people, 62% who by the way oppose this bill as it is: "You can't be trusted to invest your own money." So give it to the government to spend it for you, you dumb serf.
What a shame the days of “tar and feather “ are gone for in those days we would have seen just how the chattering serfs dealt with fools like this.
THANKS TO THE RINO’S OR ELEPHASS’S AS A FELLOW BLOGGERS WIFE HAS NOW RENAMED THEM THE STIMULUS BILL HAS PASSED.
Yes we have Specter, Snowe and Collins to thank for throwing away all the good efforts the Republican Senate has made to slow this PORKULUS BILL enough for the people to actually see what is in it. The longer it was slowed down the fewer people actually approved of the mess. Hopefully there will be something occurring to put the skids to this PORKULUS before it can all be enacted. I’m not holding my breath however since the language in the bill concerning health care would stop me from receiving treatment at the VA hospital if the cost was deemed to be not effective. I am sure that like most boondoggles this office will be manned by individuals who have the reading comprehension of a 6th grader, if that, and they only need to mark unnecessary on the form and it is denied immediately regardless of what the doctor says. Those receiving Medicare will also be included in this group so looks as if the plan is to rid the country of those with enough dang sense to actually vote, leaving only those with less than a 6th grade comprehension ability as voters.
That’s it for the past couple of days. I am sure that you have seen other Highs and Lows. Feel free to pass them on to the rest of us via this blog. E-mails won’t work since I do not have the time to read and post each one of the e-mails even though they are appreciated deeply.