Glancing at the TV monitor we see "President Obama to speak on the jobs bill any minute." And oh look, there is the presidential podium with a lot of contrived multiculturalism lined up behind it.
Well, Herd, you know what that means.....
Appears at ET 10:57. S&P is 1143
1142.
"Teachers are being laid off in droves." Well now the markets should LIKE this.
"Cops and firefighters." Well everybody likes them. But the S&P slides below 1142 so maybe it doesn't.
"Cuts taxes for businesses that hire new employees." Well no one could EVER figure out ways to "game" that shit. Bonuses for hiring people who have been unemployed for a long time? Uh, and perhaps there is a REASON someone is unemployed for a long time. Just saying.
Oooh, more tax cuts! It's like Bush with a higher melanin count! When the zombie apocalypse breaks out, Bush - instead of shooting them in the head - just would try to deal with it by proposing more tax cuts.
Ah, faux populism. Oil companies, millionaires and billionaires versus all these nice multicultural teachers and cops behind me. SO what do the markets think? Still teetering at the daily low.
Slamming Republicans now. Monkey likes this. He slams Republicans all the time. Nice to hear the ostensible "leader" of those opposed to Republicans get in the act. Market? oooh, 1143. Perhaps a favorable reaction to the unaccustomed display of cojones by the Capitulator-in-Chief.
1144 and an apparent downward tops line break.
And he's off. With S&P at what? 1143. So no conclusive verdict as to the Obitchba effect as of this writing. But certainly there is time for the White House to release some stupid shit and blast the S&P through that support level into another 2.5% down day.
Hey here is the Monkey's proposal for a jobs bill:
"My fellow Americans. Today I am going to send a bill to Congress that REPEALS the so-called Affordable Care Act of 2010. Thank you very much. God bless you and god bless the United States of America."
S&P. Up 100 points on next tick. You know, nothing to stimulate hiring by removing that de facto $250,000 penalty upon businesses for the 50th employee hired. Of course that was 250K last the Monkey read about it, which was sometime last summer. Given that the Monkey's own health premiums have doubled since then for no reason whatsoever one can only imagine what the cost to US business is for hiring that 50th employee now.
Orwellian NewThink in action: when the problem in your health care system is access (brought about by high cost) you "solve" the problem by jamming lots of stuff in that will blow up cost exponentially and just REQUIRE everyone to have ACCESS to this lovely product. Somewhat analogous to dealing with the problem of hunger by blowing up the cost of food and then REQUIRING people to buy it.
OH WAIT! WASN'T THAT WHAT OBITCHBA USED AS AN ARGUMENT AGAINST HILLARY'S PROPOSED MANDATE?
Uh, yeah, back in the day when it was 2008 campaign mode and the sniveling bastard had yet to backtrack on 100% of what he promised.
Either do single-payer - which works pretty well in the 49 countries with better health care outcomes than us at significantly lower cost. Or, oh, maybe address the COST issue by repealing the antitrust exemption and take some other measures to stimulate competition. The lower cost stimulating access and also not imposing crippling financial damage upon the US as the government is forced to subsidize premiums that are skyrocketing because of all the crazy shit jammed into ObamaCare.
Okay, back to work. Once again a demonstration of the mere THOUGHT of ObamaCare being enough to sidetrack the Monkey and send him off onto an extended rant.
