Stocks: Obama invents ‘immigrant rights,’ robber barons profit

Stocks: Obama invents ‘immigrant rights,’ robber barons profit

Robber baron cartoon.
19th century cartoon by Ehrhaart comparing U.S. robber barons to feudal lords. Remind you of anything?

WASHINGTON, September 2, 2014 – Whew! We’ve weathered another demagogic Labor Day, this one highlighted by yet another anti-American diatribe by America’s Prevaricator-in-Chief, Barack “The Duffer” Obama.

In a provocative Labor Day speech in Milwaukee yesterday (take that, Governor Walker), the Nobel Prize-winning constitutional scholar added yet another new right to our ever-expanding, “living Constitution:”

Hope is what gives young people the strength to march for women’s rights and workers’ rights and civil rights and voting rights and gay rights and immigration rights.

As the Maven ages in place, he is increasingly struck with an intense longing to be a differently-abled person of color with gender issues. It seems that this poorest-ever excuse for an American chief executive is hell-bent on expanded opportunities in a country that may cease to exist in our lifetimes. After all, for over six decades on the planet, the Maven has yet to enjoy even the faintest taste of the fruits of the patriarchy.

But perhaps his time is yet to come. After all, the left excitedly tells us that white males will soon be a negligible minority in the U.S. So maybe in the fullness of time, non-Marxist Caucasian Boomers will find common cause in their minority status, take up their walkers, march on Washington, and get the government to create a brand new minority set-aside, one that the race-extortionists never imagined. That would likely complete the dismal Balkanization of this sad, drooping, divided and despairing country.

Between his wage-depressing desire to saturate the nation with Democrat-voting illegal immigrants, and his job-stifling, always-delayed-until-after-elections Obamacare mission creep, this hubris-besotted caricature of an American president has “fundamentally transformed” this once-proud country into a 21st century slough of despond.

But ironically, the robber barons of Wall Street still seem to like this guy. After all, the unconstitutional general amnesty he’s about to proclaim moments after the polls close in November, will depress wage demands forever, assuring the barons that they’ll eventually achieve wealth beyond avarice.

Meanwhile, as his attorney general strikes deal after deal to extract billions of dollars in tribute from banks that did what the government told them to do, Obama, along with his minions, has been careful to take the money only from customers and shareholders without sending any of the real perps to Sing-Sing.

Likely, that kind of just and decisive action would make it tough to collect campaign donations from those would-be convicts who really don’t mind paying a bit more than is customary for campaign bribes. Putting them in a country club jail would also sideline them from helping the government manipulate the stock market higher and higher. That would spoil their Fed supported and rigged market roulette and impair their ability to channel more and more campaign dollars to Democrats via the usual illegal nonprofit ruses so favored by the likes of George Soros and his ilk.

In any event, everyone seems to be back at their desks, having returned from their Hamptons holidays and Martha’s Vineyard golf-a-thons. Congress will get back to action in Washington doing precisely nothing through the first Tuesday in November, save engineering controversial non-votes resulting in fresh, negative campaign ads that will run on TV without surcease through election day.

In New York, the big traders are at it today, increasing volume on the downside as they scoop out profits that happened while they were away.

September tends to be a bad month to be in stocks, although there have been numerous exceptions to that rule. At any rate, stocks are stumbling today across the boards as traders take what’s theirs while awaiting end-of-week news items that could trip the averages dramatically one way or the other.

Uncertainty reigns as well in this week’s markets. Apple and Alibaba will weigh in with big news later in the month, which could cause the tectonic plates of tech and trade to shift. Gold is under yet another big-time bear raid, even as it makes sense to put a little in your portfolio in case Vlad the Impaler decides to make that two-day march to Kiev he threatened but really didn’t, wink-wink, nudge-nudge.

Elsewhere, in the peaceful Muslim paradise of the Middle East, the body of one more American journalist is missing its head this afternoon as the jolly Islamofascists of ISIS/ISIL taunt an American president who won’t ever respond in a meaningful way. And, of course, the Eurozone looks to be plunging into another self-caused recession even as the UK appears poised to lose its northern territory, which apparently intends to become another workers’ paradise.

It’s all kind of depressing, really, and maybe that’s why markets look sick today. The whole situation, including the investment climate is confusing and hard to figure out. When that happens, investors tend to stay away and pack money into their mattresses.

No trading tips today. It’ll take another day or two to discover this market’s real tone, and perhaps longer to assess the likely reasons behind it.

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Terry Ponick
Biographical Note: Dateline Award-winning music and theater critic for The Connection Newspapers and the Reston-Fairfax Times, Terry was the music critic for the Washington Times print edition (1994-2010) and online Communities (2010-2014). Since 2014, he has been the Business and Entertainment Editor for Communities Digital News (CDN). A former stockbroker and a writer and editor with many interests, he served as editor under contract from the White House Office of Science and Technology Policy (OSTP) and continues to write on science and business topics. He is a graduate of Georgetown University (BA, MA) and the University of South Carolina where he was awarded a Ph.D. in English and American Literature and co-founded one of the earliest Writing Labs in the country. Twitter: @terryp17