Why the Dow Dropped 250 Points, or, the Only “Boom” is from the Economy Imploding

From: American Liberty Alliance

Not even the NYT can avoid reporting that on the last trading day in October, the Dow Jones dropped like it was pole-axed, completely erasing yesterday’s 2% gain, while other financial indexes posted a monthly loss for the first time in 7 months. Consumers still seem skittish despite news the Economy grew by 3.5% in the 3rd quarter. How can we grow like that and still have major issues with the Economy?

The Times reported the drop in Consumer spending was “tied to the end of the government’s cash-for-clunkers program, which gave car buyers thousands of dollars in vouchers for the purchase of new vehicles.” I would add to that the end of the Government’s program to give money to home buyers. I call it cash-for-condos.

It’s hard not to note this is what Administration critics predicted. Stimulus plans costing taxpayer billions have not produced a recovery. There are only blips here and there as people take advantage of “free government money” (read “tax dollars taken from someone else and given to them”, remember Joe the Plumber?). After Cash for Clunkers and Cash for Condos produced their false positives the Economy retreated to a more accurate picture of consumer confidence.

The Times also noted “The drops were led by stocks in banks and financial firms …” Yet just just a month ago this Economic sector was posting record profits. The Times failed to remind readers what the Government did in that sector. President Obama told some in the financial sector they could no longer pay their employees as they saw fit and called for a maximum wage when it comes to CEOs. Administration members ominously said they hoped the rest of the industry would voluntarily comply with the new wage structure.

Investors took one look at the President’s plan and bolted with their cash. Investors put cash in firms headed by those making millions seeking a good ROI from the plans and minds worth that sort of money. Investors rightly understand their return is jeopardized in the hands and minds of lesser corporate leaders. People who understand Economics told the President this would happen. They were ignored and, for their trouble, they were pilloried as racists.

The Times reports the most important facts in two separate paragraphs. They note “The revival of the consumer sector is considered paramount in turning the United States economy around, since purchases by consumers make up about two-thirds of the nation’s spending” shortly after revealing “Consumer spending in September dropped by the largest amount in nine months …” When the false positives of Cash for Clunkers and Cash for Condos are stripped away, consumer spending is getting worse, not better. What’s more, the rate of decline is escalating. After 9 months of Stimulus, consumer spending had its worst month in September.

The only question now is how long the administration will pimp failed New Deal era policies to solve the economic problems of another century. Perhaps if Barack Obama took time from date nights, golf games, begging for the Olympics and disrespecting Constitution and Liberty loving Americans to pay serious attention to the Economy he’d realize the only “economic boom” he’s likely to experience will come from the Economy imploding on his watch.

For Liberty!

Ken

Go to Source

Scozzafava is the “Mean Spirited” Republican your Democrat Friends Warned You About

From: American Liberty Alliance

Dede Scozzafava is every bit the Liberal Republican the Grassroots has been warning about for weeks. Bowing to the political reality, reported in the Watertown Daily Times, “that Siena Research Institute poll numbers show her too far behind to catch up – and she lacks enough money to spend on advertising in the last three days to make a difference”, Scozzafava announced this morning she was suspending her campaign. However, claiming that, “Today, I again seek to act for the good of our community,” and, “I am and have always been a proud Republican,” her actions reveal that nothing could be further from the truth. She did not withdraw from the race, she suspended her campaign. While the practical result is the same, the difference is telling.

She continues her explanation with, “It is increasingly clear that pressure is mounting on many of my supporters to shift their support.” Nowhere does she address the reasons for her lack of money or the pressure on her supporters. All of this is understandable. In the pressure of the moment, it’s hard to be either precise or circumspect enough to satisfy everyone. There is, however, one specific thing it is incumbent upon a candidate to do in such a situation. They must tell their supporters what to do next.

At the end of a primary, losing candidates all pledge to rally behind the person who won their Party’s nomination. Hillary Clinton sounded positively Republican in telling the nation how bad a President Barack Obama would be. But when he was the Democrat’s nominee, she supported him and encouraged her followers to do so as well. OK, maybe the PUMA people are evidence she didn’t really do that but you get the idea. The Hoffman challenge of Scozzafava in NY-23 was a primary of sorts. It was a fight to see what values and principles the Right of Center voters in NY-23 would rally behind. The voters chose Hoffman’s and that didn’t sit well with Dede.

What Scozzafava did next was unconscionable. She “[released] those individuals who have endorsed and supported my campaign to transfer their support as they see fit to do so.”

This is key because in her official statement, her very next words were, “I am and have always been a proud Republican.” What a slap in the face to the NRCC and RNC which spent $900,000 in support of her campaign. When the NRCC recently withdrew from the NY-23 race, it made overtures to Hoffman. Scozzafava knows Hoffman is the obvious candidate to support if she gets out. But she couldn’t make herself do it. It is a slap in the face to all the GOP supporters across the country who supported her because they understand the importance of keeping the seat in the GOP. It is a slap in the face to all the people in NY-23 who want Republican representation in DC. With proud Republicans like Scozzafava, the GOP doesn’t need Democrats to worry about. And that’s been the point of Hoffman’s candidacy all along.

Some will rightly argue Hoffman isn’t running as a Republican, he’s the Constitution Party candidate, and so there will be no GOP representation even if Hoffman wins. But Scozzafava herself was running as both the GOP candidate AND the Independence Party candidate. Hoffman would have run on the GOP ticket had he been allowed to. Since there was no primary he had no choice except to run as another Party’s representative. Scozzafava’s refusal to specifically tell her supporters she was supporting Doug Hoffman; that they should support Doug Hoffman, too; and that even though her name was on the ballot, she was requesting her supporters NOT to vote for her but to vote for Hoffman instead can be spun as defending the Republican brand. More likely it will be seen for what it is – what happens when RINOs go on a murderous rampage.

Of course, all this is what you’d expect if Scozzafava’s opponents were correct and folks like Newt Gingrich and the NRCC were wrong. If Scozzafava were the Conservative Republican they said she was, she would have fought hard, been gracious in defeat and supported the candidate with the most Conservative principles moving ahead to Tuesday’s election. Instead she proved herself to be the Liberal RINO she was charged with being and has outed herself as the petty, vindictive and mean-spirited Republican that your Democratic friends are always telling you about. You know the ones. The Democrats in Republican clothing.

Now that this is done, it’s time to focus on Tuesday. We have an election to win!

Go to Source