by Outcast_Searcher » Thu 04 Aug 2011, 18:59:30
$this->bbcode_second_pass_quote('Fishman', 'W')ell they've been called irrelavent, declining in power, terrorist, delusional. ... No name calling from the cockroach media that gave him the presidency will weaken the tea party now.
Well, Fishman, I have to pretty much agree in principle with most of this.
However, I think it's very likely that the European debt bomb either going off now or at least making a repetitive escalating bong-bong-bong scary sound, plus lots of sudden signs of a big slowdown in global growth are both responsible for most if not all of this post August 1 market meltdown.
Now, longer term, I absolutely agree that massive government growth, tax and spend, etc. only serves to weaken the economy... OK - I must admit that market recognition of how pitiful the compromise package was, and the strong signal that it's just business as usual for as far as the eye can see (despite any rhetoric to the contrary) is a very likely additional smack to the market's head.
Three strikes. Whee. How many points does THAT cost us over the next month or so?
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.