The stock market retracted 1% yesterday and THE SKY IS FALLING!

 The way some of those clowns write, one would think the sock… er, stock market had crashed, that Mount Vesuvius had become active once again, and that nuclear war had broken out all over.

 

This is just so MUCH BULLSHIT. (Or instead, perhaps that should that be bullshittery?)

 

I mean, seriously… a 1% and a 1.6% decline?

 

Are you kidding me!?!

 

That’s a “plunge”?

It’d be like dipping the very tip of your little finger in a finger bowl moistened with a few drops of water and then claiming that you went swimming in the Pacific Ocean. 

 

If anyone went to any store anywhere and saw a sign reading “HUGE SALE! Up to 1.6% off EVERYTHING!” they’d laugh the store to shame for promoting such an asininely ludicrous bit of blatantly fraudulent puffery and nonsense.

 

The stock market is that store.

And yet,

The Biggest Economic Challenge of Obama’s Second Term

Investing in economic infrastructure is ALWAYS a sound decision because
1.) Materials and Manpower ALWAYS comes from the private sector (and always will), and;
2.) Economic capacity and economic opportunity expands.

Note also these two remarks:

“Corporations won’t hire more workers just because their tax bill is lower and they spend less on regulations. In case you hadn’t noticed, corporate profits are up. Most companies don’t even know what to do with the profits they’re already making. Not incidentally, much of those profits have come from replacing jobs with computer software or outsourcing them abroad.

“Meanwhile, the wealthy don’t create jobs, and giving them additional tax cuts won’t bring unemployment down. America’s rich are already garnering a bigger share of American income than they have in eighty years. They’re using much of it to speculate in the stock market. All this has done is drive stock prices higher.”

—

Monday, September 10, 2012

The question at the core of America’s upcoming election isn’t merely whose story most voting Americans believe to be true – Mitt Romney’s claim that the economy is in a stall and Obama’s policies haven’t worked, or Barack Obama’s that it’s slowly mending and his approach is working.

If that were all there was to it, last Friday’s report from the Bureau of Labor Statistics showing the economy added only 96,000 jobs in August – below what’s needed merely to keep up with the growth in the number of eligible workers — would seem to bolster Romney’s claim.

But, of course, congressional Republicans have never even given Obama a chance to try his approach. They’ve blocked everything he’s tried to do – including his proposed Jobs Act that would help state and local governments replace many of the teachers, police officers, social workers, and fire fighters they’ve had to let go over the last several years.

The deeper question is what should be done starting in January to boost a recovery that by anyone’s measure is still anemic. In truth, not even the Jobs Act will be enough.

At the Republican convention in Tampa, Florida, Romney produced