I wrote before that I think that our Dear Leader and his team are in over their heads in regards to the economy. They aren't sure of what to do and the market is responding to that lack of confidence.
Here is another theory, Team BO just really doesn't care about the economy. It will recover on its on over time and they have other priorities. That is what Kevin McCullough is claiming and he makes sense.
President Obama knows the history of recessions and how Americans get out of them. He knows, for example, that if he gave back to the American family in just pure cash handouts what he is instead planning on taxing them (with interest) in the days to come, that the number would loom between $25,000-$65,000 per family, for every family in America.
But pretending to be doing something about the problem is only half the strategy for Obama. He truly intends to see socialized health care, and European styled labor agreements become reality in America. He knows the consequences of doing such things, he’s seen all the projections and what the outcomes would be, but he’s doing it anyway.
This actually fits in with his Chief of Staff's often quoted mantra: "You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things you think you could not do before." The economic crisis is being used by the far left extremists to create an atmosphere of fear and shove through socialist policies under the guise of "helping the economy."
If our Dear Leader and the democrats where interested in helping the economy, they would focus on job creation by small businesses. Most jobs in this country are in small businesses and unlike "shovel ready" construction projects, those jobs will still be there when the taxpayer funding runs out. Instead, the policies of our Dear Leader and the democrats are designed to hurt small businesses.
Ed Morrissey has his own thoughts on Kevin McCullough's theory:
Obama is a typical liberal ideologue who thinks that America has failed in the sense of equality of result. He sees inequities and thinks that government exists to eliminate all of them. My guess is that he’s aiming much more for France than Venezuela, but neither are particularly palatable destinations for a national economy. Obama seems to see our entire 230-year history as a long crisis that his statist policies will end.
What we’re seeing is the policy playbook of the Left. We predicted this all along, while the media hailed Obama as some sort of centrist without a shred of evidence for that. He has a long history, though, of alliances with the Left, and it comes as no shock that Obama has shown his true colors in the first days of his presidency. Massive government spending, reductions in defense, and preparation for nationalization of health care, banks, and other private industries fit well as a pattern with those policy goals.
Bottom line. Obama's goal is not to fix the economy, but to fundamentally change the role of government in the United States of America.
UPDATE: BusinessWeek asks: Did Obama cause the stock slide?