Welcome one and all to the most intense nightly read anywhere on the ‘sphere… Bitblog’s Nightly Ramble.
Friday, and lots of fresh snow up the ground in Bitsville, today. A lot of it coming from the Obama people, and congressional Democrats. The forecast is for a cold winter, on both fronts. We have a lot of ground to cover. Let’s get going.
- Boortz looks at the downturn in the market and wonders, properly, I think, if Obama isn’t part of that. I’m one who doesn’t think much of blaming one thing or another for various reactions the lemmings in the market might take, and what causes them to go over one cliff or another. But it must be said, he’s got a point, here, at leat as presented.
We have a president-elect who …… has promised to raise capital gains taxes, perhaps even double them. So this guy is just waiting for you to jump into the stock market and make some money so he can seize a huge portion of it. Why jump now? Obama has been asked if he plans to go forward with his capital gains tax increase, but he’s not saying. Just hold off on your investments for a while until he tips his hand. If he goes the tax increase route you might want to consider trying to move your money offshore to grow until he’s out of the picture.
… has promised to sign the so-called “Card Check” bill. Now again, you’re smarter than the average voter, and you realize that this unionization-through-intimidation idea is going to have an adverse affect on American business. As soon as the bill is signed union thugs (organizers) will start their petition drives at thousands of businesses across the nation. Large businesses and small businesses. America’s largest employer, Wal-Mart, will be one of the first targets. You don’t know how far this will spread, but you do know that every business that is unionized will be a poor investment for you. So you wait .. you wait to see what is going to happen with card check.
… has promised to raise income taxes on the largest jobs producing segment of our economy, small businesses. During the campaign you heard him say that he would not raise taxes on 95% of small businesses, but you know that most of the jobs rest with the remaining 5%, and that’s where most of the new jobs would be created. The ignorant voters bought his 95% line, but you’re not that stupid. You saw through his rhetoric. So, again, why jump into the market now? Wait until we see what Obama is going to do with these tax increases on America’s jobs-producing machine.
… has promised more business regulation. Obama is no fan of free enterprise. He loves government. Obama believes America is great because of government. You really think you need to wait before you make your investment moves until you see just what regulatory punishment Obama has in mind for the free market.
Boortz is saying here that Obama is at least part of the maket reaction. And in saying that way, he’s quite correct.
- And let’s add, as the Wall Street Journal  does this morning, the spectre of Henry Waxman as House Energy and Commerce Committee chair, with the obvious support of Nancy Pelosi . Think that’s not causing investors some concern? Boortz thinks so. So does the American Thinker . So does the WSJ. So do I. As the WSJ carefully suggests:
Mr. Waxman, speaking for the upscale precincts of Beverly Hills, wants to phase out coal and cars that use gasoline. The coastal elites who now dominate Democratic politics will happily trade the blue collar for the green collar.
Suppose that will cause investors any concern?
- The Dinosaur Media continues to die… AP now reports they’re cutting 10%  of their people. Faster, please.
- Weather Channel’s doing the same thing . I’ve been waiting for that one, personally. Now if only they could dump Bevis and Buttlick… …err… Abrams and Bettis, they might be able to save a few real weather people. Nah… if they did that, they’d not be able to pitch ‘green’ to us all the time.
Oh, speaking of intentionlaly slanted news media… did you guys see this contract between Time,INC and Angelina Jolie ?
LOS ANGELES: When Angelina Jolie and Brad Pitt negotiated with People and other celebrity magazines this summer for photos of their newborn twins and an interview, the stars were seeking more than the estimated $14 million they received from the deal. They also wanted a hefty slice of journalistic input â€” a promise that the winning magazine’s coverage would be positive, not merely in that instance but into the future.
Don’t make the mistake of thinking this is the first time, gang, or that it’s limited to ‘soft’ stories like this. I’m telling you, we’re going to find out that political coverage is getting slanted the same way. The only way I think we’re going to find out, though is for the Dinosaur media to fall over altogether, which they now appear to be doing.
- Where are these leaks coming from ? Is this an example of the kind of thing we’re going to be dealing with after the coro— errr… the swearing in? And doesn’t it seem a little odd that the press is complaining about leaks? I may not be a navy sailor, but I can detect a smoke screen as well as anyone else.
- Reports are the Pentegon’s been getting hit with Cyber warfare . These attacks are nothing new, of course, but apparently, following election day, whoever’s attacking, turn the volume up to 11. Gee, maybe they sense a weakness, based on the election results, huh?
- I note with sympathy, the collapse onstage of Atty General Mukasey in DC last night. Sounds like a stroke to me, but then I’m not a medico. We wish him well. I must say, I’m a little discomforted by the amount of people I saw blocking press access last night.
- Proof that just because you’re wearing a robe doesn’t mean you’re not a blithering idiot.
- Oil started the day at $49.55, and will be at $45 or below by midweek, if the current trends hold. Gasoline is down to below $2/gal in many locations. Now, we’re being told the reason is that the economy is in the tank. Note that one thing they don’t show you, however, is gasoline consumption figures for the last few months as prices have fallen. Think about why.
- The attempt to steal Norm Coleman’s seat continues apace.
- My earlier rant on Eric Holder ? Add this to it; Reynolds says Holder is calling for “reasonable” restrictions on internet speech. Given the depth of what we’re talking about here, it should scare the living crud out of you that the whole thing depends on HIS definition of what’s ‘reasonable’.
- Benen is screaming taht the Fairness Doctrine isn’t coming back . Well, he’s correct as far as he goes. But Networked talk radio is still a target, if we’re to take this push for ‘Localism’  . (That link will take you to the official FCC site, explaining at least some of the plan.) Hume last night :
The FCC requires stations to serve the interests of their local communities in order to keep their broadcast licenses. Some view that as a threat to nationally syndicated talk shows.In September of 2007 â€” then-senator Barack Obama wrote a letter to the FCC promoting localism and media diversity. Jim Boulet Jr., on the conservative American thinker Web site says: “Obama needs only three votes from the five-member FCC to define localism in such a way that no radio station would dare air any syndicated conservative programming.”
Here’s the American Thinker article Hume mentions. You will recall, I’ve been in radio and Iknow the effects of this kind of nonsense. I’m telling you right now, this will kill AM radio. Now, think; why would Obama be writing the FCC back on 07 on the matter? Why is he so concerned abbout what Americans listen to? You know why. He needs to silence the critics. His supporters at Air America never got the listeners, because nobody was buying the hate they were selling. So it’s been with most leftie talk shows. The only way to deal with the problem he’s got is to use the force of government to silence his critics.