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As stocks hit record high, wingnuts demand Obama’s impeachment for wrecking the stock market

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You can’t make up stuff like THIS:

Today, the Dow Jones Industrial Average closed at 15,056, an all-time record. For one conservative group, this can only mean one thing: it’s time to impeach President Obama.

That was the message Capitol Hill Daily, a conservative publication based out of Baltimore, sent to Citizen United’s listserv today. They accused President Obama of “wreck[ing] the stock market” and asked readers to take a poll about whether he should be impeached as a result.

(Snip)

When Obama took office on January 20, 2009, the Dow Jones was at 7,949. Over the last 4 years, it has gone up approximately 90 percent before reaching a new high today.

It’s important to remember that the health of the stock market is very different from the health of the overall economy. Middle class wages are stagnating and millions are still unemployed or underemployed.

But when a conservative organization claims ignores reality in such a blatant way, one can’t help but quote former Rep. Barney Frank: “On what planet do you spend most of your time?”

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2 Comments

  1. Robert

    I miss Barney. He did have a way with words. And his Boston Brogue accent made them cut even deeper.

    In all fairness, watching the stock market is my sports activity. I could care less about watching grown men chasing a ball like we did as children. I don’t think most people realize just how devastating the bank fraud related to the home loan scandal was to big and small investors in the stock market. Those valueless derivative products were sold to just about every large and small police, fire, teacher, public employee retirement fund in the world. What I believe the Fed is doing is backing out all those horrible investment dollars from those funds, so they can meet their payout obligations short and long term.

    If the Fed wasn’t keeping the market inflated, we’d be in a depression that even the one of the 1930s couldn’t compare to. Along with that depression and the loss of industry in our country, the livability and safety of our citizens would be severely compromised. And much of America would look like the most violent sections we read about (by the way some of that poverty related violence is what Rockford is experiencing currently. That is not getting better). Is that really the America that most Americans would rather live in?

    The shopkeeper on the corner where I live told me a few years back, his business ebbs and flows with how well or poorly the stock market is performing.

    What does it say about a political party that wants the stock market to fail? What does it say when about 50% of the population will vote for that party?

  2. Robert

    While we’re talking about the stock market, let’s not let this story get by without due coverage. Mark Zuckerberg, the 29 year old Facebook billionaire (13x) is no liberal and that’s OK. Some of you may think the Keystone pipeline is all about energy independence for America. If any of you have driven on I-80, you’d know there’s already an oil refinery much more near the Canadian province, where this oil is going to be drawn from. The reason this pipeline is being directed to Texas is so it can be near their refineries and the ocean port for destinations foreign.

    All oil is sold on the open market (although there will be industry insiders who will say BS, but then it’s their job to squelch anything that doesn’t fit their agenda). The reason Texas was chosen is because the people of Canada said no way to a pipeline that would have gone across their land to their west coast ports. It’s the access to a port that plays a big role in the success of this plan. If this pipeline was all about making the USA independent of foreign oil, being near a port wouldn’t play a significant role in its placement.

    By the way, the Gulf of Mexico is going to be home to some new deep drilling efforts. Let’s face it, the end of cheap and easily accessed crude oil is behind us. The problem is our infrastructure is mostly built to utilize oil based energy. Fossil based energy isn’t going away soon, but the price of it as well as the price of clean water, is going to impact all of us in huge ways. This is why you see a big effort to get people back into the cities instead of the sprawling suburbs. And why we are seeing a resurgence in mass public transportation systems and a big movement to get people out of their personal cars.

    Soon enough, we will see travel on our streets, roads and highways be something that is charged by the mile. Many of you in Illinois have some experience with that, but there are many areas where travel does not include a toll booth. The rich know this is coming and what the re-visioned America is going to look like, the majority of other folks haven’t got a clue. It’s all about privatization and the eventual goal of remaking America into a destination point for the worlds rich and famous, something I was told about back in the mid 80s. It’s been fascinating watching what I was told back then come true.

    http://finance.yahoo.com/blogs/daily-ticker/mark-zuckerberg-loses-liberal-friends-supports-keystone-pipeline-155720383.html?vp=1

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