Did Former President Obama Cause the Recent Market Drop?

Did Former President Obama Cause the Recent Market Drop? February 6, 2018
Photo Source: Flickr Creative Commons by Gage Skidmore https://www.flickr.com/photos/gageskidmore/

 

Sorry folks, I can’t resist this.

If you’ve been following the stock market, you know that it’s dropped roughly 10% in the past few days. After claiming, from before he even took office, that the healthy (for some people) economy was due entirely to President Trump, the Trump bot media is now faced with explaining a drop.

Notice, that NOTHING the market does, in their weird world of confabulation, is due to market forces. It’s always something that they claim is due to politics, so that they can spin it to their political advantage. This is yarn-spinning and story-telling, not economic analysis.

Anyhoooo and as I said, the market  is down 10% in a few days. Ten percent is the line in the sand that analysts draw to indicate a “correction.”

All “correction” means (in market terms) is that it’s been bought up too high to support and is now settling back down. These things are not cataclysms. They’re just real-world market forces, slicing the top off the froth on the beer.

The interesting thing is that Trump bots have, by and large, given up rational thinking and real-world analysis. Their whole thingy is to give President Trump credit for every positive turn of events.

As a for-instance, the economy was in the shape it was in when President Trump took office because of President Obama’s policies. President Trump had nothing to do with it for the simple  — to rational people — reason that he hadn’t been in a position to affect it.

That’s what people who are in contact with reality call obvious. However, Trump bots claim that every good thing is due to President Trump, kind of like the proverbial rooster taking credit for the sunrise. So, they — with a straight face — said that the market went up before he even took the oath because it was so happy that he’d won. I kid you not. Trump said that. Trump bot media said that. And little Trump bots the country over believed it.

Now, Mr Market is having its end-of-January tripping up, only it’s deeper than it usually is because the market has been hypered into a bit of a frenzy by the tax cut. Rather than acknowledging that their tax cut may have caused a bit of froth and the froth is now settling, the Trump bots, who believe that everything good is due to President Trump, roll out their alternative universe explanation.

The Trump bot alternative universe explanation for any bad thing that might happen is two-pronged. In their alternative-from-reality-universe the cause of any bad thing is either (a) Hillary, or (b) Obama. Let me repeat and say after me: All bad things are due to either Hillary or Obama.

If you’ve got the flu, either Hillary or Obama caused it. If the sun goes down, either Hillary or Obama did it. Once in a while, they trot out President Clinton’s sexual promiscuity and even — I kid you not — JFK’s affairs from almost 60 years ago, to prove that it’s the moral thing for Christians to excuse sexual assault by a Republican serial sexual predator in one election and child molesting by a Republican child molester in another election. But the rest of the time, all bad things are caused by either Hillary or Obama.

This 10% drop in the stock market is a case in point. The Trump bot band leader, otherwise known as Sean Hannity, has chimed in with the predictable Trump bot explanation, which, I assure you, has nothing to do with market forces or economics. According to him, the market has fallen 10% because of — get ready for this now — President Obama.

You knew it had to be either Obama or Hillary. I guess it was Obama’s turn to take the hit this time.

Here, just for fun and giggles, is my explanation of the recent market drop: The yield curve is not different “this time.”

I don’t think we’re seeing the economic train wreck which the recent restructuring of America’s tax base can bring down on this nation. I think we’re seeing the result of the interest rate hikes, along with just a tiny touch of back-tracking from the recent euphoria. Add to that the simple fact that the end of January and its post holiday economic dip often sees a bit of a market decline, and you get what we’ve got.

The reason for this is simple. The yield curve is working the same way it always does. All claims to the contrary by big-money talking-head “analysts” do not change that.

The reason that Mr Hannity claimed that President Obama was the cause of this sudden flattening back to zero of all the gains the market has made in recent weeks is that he’s a Trump bot. He is not operating from anything that even vaguely resembles honesty and reality. He’s speaking from the world of political hype and brain-washing. He’s a deleterious influence on our society because he has a position of great influence and he uses it to lie, lie and lie again.

My reason for writing this is simple, and it has nothing to do with the recent stock market drop. I want to do what I can to contribute to a return to sanity on the part of my readers.

Stop being duped by lying liars and manipulators. If you support President Trump, that’s ok. But do it within the world of reason and honesty. Stop willfully deluding yourself and stop denying and tamping down your basic moral impulses.

He has done things that I agree with. I think he made a good Supreme Court appointment. I agree totally with his willingness to sign pro life laws, and I am heartened by his move to protect the conscience rights of health care workers.

My only quibble with these things is the fact that, with the exception of the Supreme Court appointment and signing pro life laws, these actions on the part of the president are actions of the imperial presidency. Those things should have been done by Congress. But the fact is, to do them by statute would require compromise, and Congress is no longer willing to practice the fine art of statecraft, which always includes compromise.

We’ve turned politics and governance into a zero-sum game where the point is not to govern, but to make the other guy lose. In that ugly equation, Trump-botism makes a lot of sense.

His big-money supporters know what a mess he is far better than we do. But they don’t care. So far as they are concerned, it’s not about President Trump, or the well-being of We the People, it’s about the power of the office of President and how they can use it for themselves. They like and want an imperial presidency because it’s cheaper and easier to control one man than a whole Congress.

So they lie to us.

And they manipulate us.

And this lying and manipulation has reached the point of absurdity. Anyone who had not been slowly wound into it by years of listening to it and following along behind it would find it crude, obvious and laughable.

That’s what these claims that all bad things are caused by Hillary or Obama are. They are laughable. Anytime President Trump falls on his face, the Trump bot media just picks up their Hillary doll or their Obama doll, shakes it in our faces and yells “It’s their fault!”

The question is, are you going to allow them to get away with this? I ended a previous post by saying that it was our country we were throwing away.

Now I’m saying that it’s your mind, your reasoning capacity, your personal moral will that you are occluding.

Believe the Trump bot media or don’t. Throw away your reasoning capacity or use it. Consent to be brainwashed or think for yourself.

It’s your choice.

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32 responses to “Did Former President Obama Cause the Recent Market Drop?”

  1. I have never believed anything Trump’s minions and bots say since he began his race for president. DT has to blame it on someone and he isn’t smart enough to understand anything anyhow—so he rants and raves and blames. Anyone in their right mind know that President Obama has/had nothing to do with the current market situation.

  2. And today the Dow is up 567, or about half of what the loss was. There are alarmists on all sides. Why dwell on them? Markets go up and down. The important thing is that it’s already appearing to be stabilizing itself. So the gloating on the left was a bit premature.

    • One of the things I tried to communicate is that this was a reaction to interest rates rising and the market being overbought, that it was a correction, not a catastrophe. That’s what I meant about the yield curve.

      Having said that, I, personally, am keeping a portion of my economic powder dry.

      In the meantime, since former President Obama was supposed to have caused the market to fall, I wonder if Hannity will now claim that he brought it back up? And what if it falls again tomorrow??????

      • I have no savings, anyway, but I do have an inherited house, so the market affects whether it will go up in value or not. I have to sell it by 2020. That’s how it helps me. I get no raises. As a writer? What a joke . . . 🙂

          • Some of us apologists are, for various reasons. Not me. I barely make ends meet. I was never in it for the money, but for service and the following of my vocation.

            • That’s interesting Dave. I have, a couple of times, had the experience of the Holy Spirit using me. it was almost like I was a chess piece that He put in place for a design play. It didn’t make sense until the whole thing unfolded, and in the between time I went through some misery.

              But I’ve never felt I had one vocation. I knew when I was raising my kids that I was doing what I should be doing. I knew when I was in office that I was being used by Him — at least once in a while; not all the time. But I really question whether or not blogging accomplishes anything at all, especially now, when people are so over-hyped and confused.

              I began this blog thinking I had useful knowledge and insight from all my years in office and that I could share that to help Christians become more effective in their advocacy for our causes. But I’m beginning to wonder if I’m not just spinning my wheels. People seem unable to grasp even obvious logical connections.

              I’ve never had this certainty of a “vocation,” although there have been times when I felt that I was an instrument in His hands. Now, I’m just coasting, wondering if this is where I belong.

              • Well, blogging itself may or not be related to a vocation. It may be that it’s not for you. I’ve been complaining a lot about the low quality of online discourse and saying that “Dialogue is Dead.” Pretty much anymore, people are in their camps and have little interaction with others who may believe differently than they do.

                I think what you have accomplished in office, especially in the pro-life area is certainly a vocation, or if not that, very important and something to be rightly proud of. I’ve always said that being a mother is the most important job in the world. You’re a pro-life warrior! That sounds like a calling to me.

                I think “vocation” mainly means simply doing what we have the motivation to do and what we feel God has gifted and enabled us to do, by His grace (1 Cor 12:11). In my case, that was apologetics and writing. I’ve known I was supposed to do that since 1981 (and before that, I had no idea what I would do with my life, as a sociology major). God drew me in to my vocation by contact with relevant books and in my college years just before that time, where I started thinking more and more about the relationship of faith and reason.

                • It works that way sometimes. For some people, the small, still voice is how God communicates. He tends to hit me over the head, probably because it’s the only way to get through to me. 🙂

                  I DID have what was a clear calling about writing — or rather, a bit of information that this was what I would be doing in the future — when I was sitting in the cathedral at Fatima years ago. That was very clear … and specific. But blogging wasn’t part of it. I began that on my own.

                  In some ways, I’ve had 3 what might be called “vocations.” Motherhood, politics and writing. Not one. Three. And my life has been a windy road back and forth between them. You, on the other hand, had a straight call in one direction. That’s what I think of as “vocation.” I never thought of zig-zagging between things as that. However, each time, God was in it. He’s used me for his purpose. That’s the best use of life I can imagine.

              • Rebecca, as long as you are able and feel the need, please keep on blogging! You have insight many don’t due to your experiences in politics etc. Even though I am not a Catholic, (actually a non-Christian) you have accepted my view points in discussions. I appreciate that. Many bloggers wouldn’t let me express them. My 10 years as a teacher in a Catholic school gave me an appreciation for the faith—-and some great insights. (and good friends). Just wanted to put my thoughts out there…..basically, I think this blog serves a purpose….Thanks. I consider you a friend.

                • Thank you, mi amiga. You always express yourself with intelligence and honesty. I think everything you say comes from a good heart. Your presence here is one of the great positives of this blog.

    • The coming correction (eventually, but sooner rather than years in the future) has been 20+ years in the making now, with all presidents and congresses over that time contributing to it.

      I’m not a Trump fan, but I REALLY hope we can avoid a big meltdown, I don’t care who is president at the time.

      • “I’m not a Trump fan, but I REALLY hope we can avoid a big meltdown, I don’t care who is president at the time.”

        I agree.

    • Dave, side issue.
      A couple of years ago you blocked off your blog for arguing with one of the other commentators. It wasn’t with you. It’s been two years and I love your blog. Have I done enough penance to get unblocked? I promise not to argue again. (Sorry Rebecca, I have no idea how to get a message to Mr. Armstrong. )

      • It doesn’t have to do with me, but with violation of my rules (insulting anyone). Nor is it about argument per se. I love arguments. I have 750 or so dialogues posted on my site. But they have to be cordial and amiable. You sound penitent to me 🙂 — so I’ll go see if I can unban ya.

      • I can’t find “Manny” on my ban list. Did you use any different names on Disqus? I also ban IP numbers. If you know yours, mail it to me and I’ll search for that and unban it:

        apologistdave [at] gmail [dot] com

  3. To be exact, President Trump’s tax cuts caused it. The market is irrational, but causal.

    1. Tax cuts announced.
    2. Tax withholding changed, increasing take home pay.
    3. FED gets scared and announces plan to raise interest rates to contain inflation.
    4. Stock brokers panic and sell based on FED announcement.

    This is utterly predictable. And utterly irrational and stupid.

  4. It was just a correction, agreed. But there are just as nutty arguments off CNN and MSNBC. It happens on all sides. I’ve seen a number of things youve said since Trump has been elected that was pretty out there. The problem is these guys in the media are on every night and have to come up with things to say.

    • I certainly agree that the other networks are nutty, too. The big difference is that pro life, traditional Christian people aren’t usually the dupes of those folks, whereas they’ve become besotted with right-wing craziness. I care about what traditional Christians do because they are my people.

      I’m guessing that you are referring to my concerns about the Russian interference in our electoral process when you say I’m “out there.” All I can say is that if I’m “out there,” I’m in pretty good company. I think that NOT being concerned about this and wanting to get it nailed down is somewhat “out there.” It looks to me like most of the resistance to looking into it, doing something about it, and even admitting the reality of it is partisan rather patriotic.

      I believe that if the Russians had been helping a Democratic candidate who had won, all the shoes — except mine and those of a few contrarians like me — would be on opposite feet. In that case, the people who are currently calling me a hero for writing about it would be calling me a fool, and the people who are calling me a fool would be saying I was a hero. I’m kind of accustomed to that kind of partisan flip-flop-flip, but it still floors me that people are so committed to their political partisanship that they don’t seem to care about this country.

      The only other thing I can imagine that has you thinking I’m “out there” would be my refusal to accept that sexual assault and child molesting are ok in elected officials who write the laws about governing these things. That’s a life-long thing with me. I’ve worked against those things my entire adult life. I mean it right down to the ground. I could no more change on that than I could deny Christ. It is heartbreaking to me to see so many Christians and Christian leaders put sexual assault, child molestation and the verbal abuse of women in the this-is-trivial-and-doesn’t-matter category. I won’t ever look at those people the same again.

      If that’s out there, so be it. I love ya Manny, no matter if you do think I’m “out there.”

      • It seemed to me you were convinced that Trump colluded with the Russians to rig the election. As it turns out, that suggestion was planted by Hillary campaign with phony documents and the Obama administration (not sure yet if it was with full knowledge of their credibility) used it to orchestrate a FISA investigation.

        I don’t remember reading your child molestation posts. I had lost subscription to your blog for a while for some reason. I don’t know what the specifics of you molestation points were, but I would probably agree fully with them. It is heartbreaking any child should be abused, and against the direct commandment of Jesus, straight from the Gospels.

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