From Mullings: "Two years ago, the Democrats, with great fanfare and much spiteful mirth, took control of both the U.S. House and the U.S. Senate promising great changes and great advances.
Are you better off …?
Just to review the bidding. On January 5, 2007 (just about the time Nancy Pelosi and her cronies took control of the House):
- The Dow Jones Industrial Average closed at about 12,400.
- The New York-based Conference Board said its consumer confidence index was at 110.3.
- The Bureau of Labor Statistics had the unemployment rate at 4.6%
- According to CNN gasoline a gallon of gasoline, in January 2007, averaged about $2.20.
That was then. This is now:
- Last Thursday at about 1 pm Eastern, the Dow had hit a bottom of about 10,500 before Secretary of the Treasury Henry Paulson and the Chairman of the Federal Reserve Ben Bernanke intervened. That is a drop of about 15% in the Dow from two years ago.
- The Conference Board's latest take on the pulse of consumer confidence had it at a
very thready 56.9 in August - a drop of about 48% - The unemployment rate in
August was reported at 6.1% by the BLS an increase of 33%. Gasoline prices
are at about $3.70 a whopping 68% jump. What's changed?
Rep. Barney Frank (D-Ma) and Sen. Chris Dodd (D-Ct) took control of the House and Senate Banking Committees.
Rep. George Miller (D-Ca) and Sen. Ted Kennedy (D-Ma) took over their respective Labor Committees.
Rep. John Dingell (D-Mi) and Sen. Jeff Bingaman (D-NM) became chairs of the Energy Committees.
Thursday, September 25, 2008
Fasten Your Seatbelts, Folks. We're In for a Bumpy Ride.
Don't kid yourselves, we are in a battle for this country and the other side isn't going to play fair. I warned of the situation in Ohio in August. Lo and behold, the proof from Proof. The left is unhinged and unmedicated and they're not going to let something like abiding by the law stand in the way of a presidential power grab and their ability to bring America (and her capitalist system) to her knees. And there's something pretty smelly, like an old fish smelly, about the timing of this financial crisis.