More On Why Our President's A National Nightmare (If You Care About Making A Living, Saving For The Future, Etc.)

Nothing like a government-mandated sell-off to wreck a good market. The Massachusetts mandate has turned into a punitive populist assault. We have elected William Jennings Bryan. This president will not let this economy be crucified on a cross of gold.

Except one thing: we have 10% unemployment, perhaps as much as 18% if you include all of the people who have given up looking for work, and we need a solvent banking system that can help us create credit and create jobs.

But the focus is on who got us into this mess, not who paid us back on time and who can be harnessed to help the cause and the focus is on deflection. So, we have -- at exactly the wrong time for the system, just when bad loans seem to be peaking -- a totally artificial decline caused by a supposedly-intelligent President who should know better. In reality? He's a spineless follower of fashion; a gutless idiot.

I have to ask, how long can Tim Geithner, a not-perfect but fairly rational Treasury Secretary, stay when he knows that the system is still fragile? How long will he stay when Paul Volcker and the Too-Big-To-Fail mob, also championed by Bank of England Governor Mervyn King, are in charge? How long can he stay silent instead of advocating a transparency that would make it so that those who are way out of bounds get no capital from the capital markets?

So, we have today's lash-out nightmare, where, once again, the President reverts to "now is not the time for profits". We have what's on your screen - big losses on everything in the markets.

I don't know when it will end. In 1896, it ended with the rational candidate, not the agrarian populist candidate, winning. That isn't how it ended in 2008. Hope against hope that the stock market's message isn't lost on this White House as it was back in March of 2009 - but also remember that Obama and his scheming, idiot henchmen don't give a damn about the stock market - remember, it's only for "rich" people - and thus they don't give a damn about millions of middle-class people struggling to earn a little extra and save for the future....