February 10, 2009

Obama's bank bailout lays an egg

S&P 500 Index closes down 4.8% after Treasury Secretary waves hands around for awhile.

My published articles are archived at iSteve.com -- Steve Sailer

By Steve Sailer on 2/10/2009

11 comments:

Anonymous said...

I know a lot of corporate drones who are wringing their hands and screaming that something must be done. But the small businessmen I talk to are generally in agreement that the recession should be allowed to run its course. They just want to see where and how prices are going to bottom out so they can plan accordingly. I've even had people in commercial and residential real estate tell me this.

The stimulus plan and bank bailout just prolong a much-delayed correction, but I don't think that's the reason Wall Street traders don't like it.

--Senor Doug

2/10/09, 1:37 PM
Anonymous said...

Steve,

Off-topic but you have to see this, given your recent posts on education. Here is some priceless social commentary from Joan Wilson (aka "Gotham Gal"), the wife of New York venture capitalist Fred Wilson, as she reviews some French film about a heroic white teacher trying to reach minority kids: "The Class".

My favorite line:

"I am a huge believer in the public education system. The diversity in the classroom is powerful."

Given that, you might think Mrs. Wilson might send her own kids to powerfully diverse NYC schools, but you'd be wrong. She spends $30k per kid per year to send them here. The cognitive dissonance some folks can tolerate is amazing.

2/10/09, 1:40 PM
Anonymous said...

Here comes DOW 6000.

2/10/09, 1:48 PM
Anonymous said...

Steve, your buddy Karl Denninger has a great column on the subject

http://market-ticker.org/archives/2009/02/10.html

Congratulations Mr. President
quote:
Nice - straight down 300 DOW points.

This is good:
quote
"TaxCheatTimmy"

2/10/09, 1:56 PM
Anonymous said...

Mr Only-the-little-people-pay-taxes Geithner look s like a weakling to me.

2/10/09, 2:31 PM
Anonymous said...

PLEASE, PLEASE, PLEASE COVER THE CPSIA

SWPL is killing the country.

2/10/09, 2:35 PM
Anonymous said...

Steve, I'm waiting on the "Is Greg Maddux the best baseball player of his generation?" post.

2/10/09, 3:50 PM
Anonymous said...

A Golden TALF, anyone?

Upcoming recession/depression is an incredible opportunity for many un(der)employed astronomers.

Nobody else can handle the infinite magnitude of numbers behind the Contemporary Western Economics (Zims need no apply).

2/10/09, 4:07 PM
Anonymous said...

French Swipples are SO practical:

Link.

"Green" meets the diversity.

It's like the old joke - What did the low income kid get for Christmas? - Your bike!

Yeah sure, Obama's and Swipples' ideas will heal the world!

(Swipples means SWPL'ers, i.e., feckless white people like the ones in the bestselling book "Stuff White People Like".)

2/10/09, 5:16 PM
Anonymous said...

An old saw goes that the Dow doesn't like good news for the "working man" (I suppose this means the middle class); and vice versa. Is it possible that the stimulus that underwhelmed "big business" today is in fact good for the little guy in the short or even near term?

2/10/09, 7:00 PM
Anonymous said...

Dow 6000? Try Dow 5000, at least. I'm an investment advisor in Orange County, CA. I have a lot of Middle Eastern clients, including members of the royal family of a certain country in the region. They are telling me that ME portfolios are pricing in a decline to 5000, with a renewed war in the ME and Southeast Asia.

These people are laughing at us for having elected a far-left black president. It is embarrassing. Humiliating, even. By electing an African president, one who hates the majority population of America, the US has definitely lost face with overseas investors.

I have been meeting increasing numbers of Arabs, Mexicans, North Africans, and Asians who are selling their homes and moving out of the country. As a white nationalist, I find this very good news.

2/10/09, 8:00 PM

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