Blame Boosh!.. Well, these days it is blame the “Terrorist Tea Party”.

And what do I believe the left will blame them for? Well a 512 point drop in the DJIA (Dow Jones Industrial Average):

The Dow Jones Industrial Average plummeted 512.76 points, or 4.31 percent, to close at 11,383.68, led by Alcoa [AA 12.94 -1.32 (-9.26%) ] and BofA [BAC 8.83 -0.71 (-7.44%) ]. The last time the Dow dropped more than 500 points in a single session was in Dec. 2008.

I am sure it wasn’t the fault of either democrats, Obama, or the fact that our government has borrowed another $2.4 trillion it will squander in 18 months, with no significant changes to the ridiculously high level of spending set to actually be implemented. If only they had raised taxes! Heh, yeah sure. That would have helped a ton. Bet it would have been worse then.

UPDATE: Another $2.4 trillion deeper in debt, and fucked anyway. Hopefully this will be the end of Keynesian economics. Not holding my breath.

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  1. Hal_10000

    I wouldn’t read that much into it. The stock market has been due for a correction for some time. It’s risen 40% in the last three years while the economy was stalled. I think they were just so focused on the debt deal that it was only now that they realized the economy still sucks.

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  2. Seattle Outcast

    I’ve been blaming that stalled economy on the satanic triumvirate of Obama/Palin/Reid and their devotion to Keynesian “economics”.

    Had to explain Keynes a couple days ago, so I put it like this “you put the cart in front of the horse, and then you shoot the horse”…..

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  3. Mississippi Yankee

    Does anyone remember a few weeks ago when All of the moderates and compromisers insisted that to not raise the debt ceiling would wreck our credit rating and ruin our economy?
    Yeah, you know who you are…

    Well can someone ‘splain how this happened… I mean in terms other that “it’s bush’s fault” or “that damn Tea Party”

    S&P warned White House of imminent downgrade

    NEW YORK (CNNMoney) — Credit rating agency Standard & Poor’s served the Obama administration with notice Friday afternoon that it planned to downgrade the U.S. government’s AAA credit rating, an administration official told CNN.

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  4. Mississippi Yankee

    Well it happened. USA credit rating downgraded to AA+ from previous AAA. I guess S&P couldn’t be bullied or bought off as Moody was.

    Credit rating agency Standard and Poor’s says it has downgraded the U.S. credit rating from a top AAA rating to AA+, the first debt downgrade in U.S. history.

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