WHEN OBAMA HANDS YOU A LEMON

Make lemonade. At least that’s what I think is happening. Consider the chart below. It shows the percentages changes in Dow Jones Industrial Average, NASDAQ, and my retirement accounts, as of last Friday, all normalized to January 1, 2009. The dashed lines are second-order least-squares curve fits to the data points and the trend lines are clearly on an upward trajectory.



What does it mean? One plausible explanation is that the bubble has burst, the market collapse is complete, and the present value of the market indicators is the “real value” of the stock market.

I don’t think that’s true, however. I think the stock market – and business in general – has taken a careful look at Congress and the Obama administration and found them wanting. Some states have refused to accept stimulus money; business are appearing more and more inclined to refuse federal “assistance”; and some financial institutions are actively seeking to give back stimulus funds they had previously accepted.

It appears that business and financial institutions would rather take their chances in a less regulated economy and risk bankruptcy in a well-ordered court process than risk the whims of an obviously incompetent administration and Congress.

NO MORE WAR ON TERROR?

The Obama administration has decided to forgo the War on Terror for a “kinder, gentler” term: Overseas Contingency Operation.

And so now we are engaged in a great Overseas Contingency Operation, testing whether that nation or any nation so conceived and so dedicated can long endure. And be assured: if the Overseas Contingency Operatives succeed in pulling off another Contingency Operation on American soil on the scale of 9/11, or more than one, we will indeed be sorely tested -- and utterly unprepared to meet the multifaceted cultural, military, political, and spiritual challenge the enemy presents.

So now Jihadists are now overseas contingency “operatives."

DAMN, THAT’S ONE BIG BUS

Wall Street gave to Barack Obama and other Democrats only to be thrown under the bus when the going got rough.

via Don Surber.

THIS IS A SURPRISE?

[NYC mayor Michael] Bloomberg said "51, 52 percent of our taxes come from people making $500,000 or more."

"Five thousand people back in 2006, it's probably a little more diverse today, but in 2006, 5,000 people paid 30 percent of the taxes in New York City.

"If only 1,500 of that 5,000 people move to Connecticut, that would cut 10 percent of our tax base, that's another $3.5 billion," added Bloomberg, who has repeatedly warned that higher income taxes will damage the city's already reeling economy.

MORE ON THE MAN BEHIND THE CURTAIN

In an earlier post, I suggested that the Obama administration’s proposal to limit charitable deductions by the wealthy does nothing more than take money away from those that need it most. That argument is based on a (realistic, I believe) assumption that charitable contributions are affected by the marginal tax rate. [At least they are for me – I have to pay taxes; I don’t have to donate to charity.]

We know that the Obama administration is committed to “social justice” – President Obama’s told us that often enough. And that’s what bothers me about his proposal.

As the law currently stands, a wealthy taxpayer has complete control to direct his/her charitable contribution, including, as I have shown, the Government’s contribution. Under the Obama proposal, that same taxpayer has effective control of only 89% of his/her contribution, while the Government – committed to social justice – has control of the rest and can designate it as it wishes, not as the taxpayer wishes.

Given the incredible lobby influence in Government – and the Obama administration’s penchant for “social justice” – it strikes me as an opportunity to buy votes.

I’d like to believe I’m wrong, and there’s an old saying that one should not attribute to malice that which can be explained by stupidity, but here I’m leaning toward malice.

CHANNELING ANGER

Cal Thomas on “channeling anger”:

Next week, millions of tourists will begin the annual ritual of visiting Washington to see the cherry blossoms bloom. They might wish to organize a bus ride up to Capitol Hill and make their blooming idiot senators and congresspersons feel their wrath. Then they should go home and organize tea parties and anything else that will unite them with others in the fed-up community, and then vow to throw these bums out come the 2010 election.

No political fish should be too big to touch and goodness knows fish like these have been stinking up Washington for far too long. Showing the most powerful the door is the only way we can liberate the country (and ourselves) from these overpaid, egotistical, self-centered, corrupt, uncaring pack of rats.

So, Cal, tell us what you really think.