02 December 2008

Where did Epiphanes go wrong?

Yesterday, the Dow closed at 8149.09 (down -679.95 from its previous). I don't recall hearing any reports that it was related to some action His Beatitude. (I guess it's his inactivity. Wow. When he does something -- almost anything -- the market rallies. When he does nothing the market drops. Dude, that's power. He's like the Fisher-King!)

This really concerns me. Last week, when the market rallied a bit, we were told it was a response to selection and presentation of his economic team. (Thus demonstrating the superior thinking skills of the media: post hoc, ergo propter hoc.) So, the obvious question is this: What did Barak Obama Epiphanes fail to do yesterday to keep that market going up? The other question is, Why aren't the people in an uproar over his failed economic policies? (Seriously, if he's going to be credited with the good he should be saddled with the bad. He won't be, of course.)

I mean, we are not being asked to believe, are we, that when it's good it's to the credit of His Beatitude but when it's bad it's the fault of President Dunsel ? We're not being asked to believe that, right?

Right?

Never mind that in the first few days after the election, when there was a sell-off, the media were not blaming Him. (Note: I'm not blaming him either. But then I have a different view of the market, and of economics generally. That's why I don't blame President Dunsel either. Some are still trying to figure out what caused the 1987 crash. See also, here, for background. I seriously doubt this one's been figured out. It's still good political hay, though. And no one makes good hay out of bad economic times like Demogogues Democrats.)

Now today, the Dow closed at 8419.09 and it's because of some really big news about G.E. Well, at least they're not crediting His Beatitude. They're certainly not crediting Dunsel.

In all seriousness, now, it is interesting to note that in the midst of finger pointing and blame for these worst economic times in a thousand years (Oh, I said I would be serious. Sorry.) -- that no fingers, to speak of, have been pointed at the Federal Reserve System. Well, very few fingers, anyway. I'm inclined to blame them for everything. They've gotten away with too much for too long.

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James Frank SolĂ­s
Former soldier (USA). Graduate-level educated. Married 26 years. Texas ex-patriate. Ruling elder in the Presbyterian Church in America.
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