That $1.7 trillion loss

Now that I work from home most days, I get to have the news on in the background. So I finally got to hear Obama talk about the economy to supporters in Wisconsin today. He really is a lying piece of shit, ya know. To hear him tell it, you’d think the economy is in such trouble, it’ll never recover. Of course, that’s the same line we heard after 9-11, too.

But, I want to explain this huge lie about the supposed $1.7 trillion loss earlier this week. The only people who lost money are the people who shifted it around at the bottom of the market, sold off stocks and locked in the lower value. There was no loss since when you buy stocks or mutual funds you’re buying shares. The number of shares you own didn’t change (unless you sold them). What changed was the value of your shares.

Obama claimed that $1.7 trillion was “lost”. It wasn’t lost…it’s still there when the market recovers. In fact, I usually buy shares when the market makes wild swings, because that’s when the market is headed back north.

Suppose you had a new car and had an accident with it. It lost value in it’s battered condition. You certainly wouldn’t sell it in that condition and eat the loss, would you? So you take it and get it repaired as good as new and the value recovers. It’s the same with the stock market. You don’t sell off your battered stocks off while they’re still dinged up.

Obama is hoping you’re stupid enough to think that everyone lost their collective shirt the other day. If the market worked like that, no one would ever buy stock. The Democrats want you to think that they are your salvation, the only chance you have for a future.

The economy will recover…regardless of whether the bailout happens or not. The bailout will speed up the recovery, which seems to be everyone’s big concern here, but the US economy is the strongest in the world and it’ll always recover, the value of your stocks will return. But knowing that doesn’t make you vote for Democrats.

Speaking of the bailout, you’ve probably all seen this video by now (I’ve been up to my ass in aligators since last Friday so I’m catching up on email and news) but Bev Perlson (of Band of Mothers) sent me this today at MsUnderestimated. It’s the best eight minutes you’ll spend on YouTube.

Reader cbullitt asks a good question about the bailout;

Question: Since the oil drilling moratorium expired today, has anyone checked to see if the ban has been inserted into this Dumbshit bailout? Its seems like the perfect solution for the Dems because it will pass this time thaks to the other 300 pages of pork in it.

Hell, we might find Jimmy Hoffa in the damn thing.

Another great ten minutes spent on YouTube (thanks to EagleSpeak and Rurik);

Category: Barack Obama/Joe Biden, Liberals suck