Why the Obama Administration is trying to panic the markets

On Monday’s Glenn Beck Program, Jim Otteson, executive director of the BB&T Center for the Study of Capitalism at Wake Forest University,  joined Glenn to talk about Obama’s Administration’s bizarre behavior in the wake of the partial government shutdown. One week in, President Obama and his Treasury Secretary Jack Lew are claiming this “could destroy us,” by threatening the death of the dollar, default, and the stock market.

What are the true implications of this partial shutdown, and what should the American people make of the President’s actions? Jim and Glenn discuss in the clips below:

Part I:

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Part II:

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  • http://www.artinphoenix.com/gallery/grimm snowleopard (cat folk gallery)

    It is designed to be a message of domestic economic terrorism, and domestic political terrorism to cause pain and chaos within the markets, and make people uneasy.

    Obama is a proven terrorist, and needs to be removed from office, and tried for treason.

    • Anonymous

      “a proven terrorist…..[who] needs to be tried for treason”.

      Yes, I agree. And while we are at it, let’s hang the entire Bush family, too, including the first ladies. Confiscate all of their assets, including the Bush families vast overseas holdings. Then, bury them at sea, like Osama bin Laden, because they don’t even deserve to be buried on American soil.

      If you think my above assertion funny, I retort that right after the coming Great Economic Collapse the American people will want to at the very least water-board the Bushes on PBS, before they are hung up to dry.

      • Anonymous

        Bush has been out of office for over 5 years.  When he left, the debt was much less than it is now less than $10T.  $5.3 Trillion was the debt when Clinton left.  If you start “hanging former presidents up to dry” you better get all 4 plus the current occupant!!  Then, of course you would need to gather congress in there too.  Where would you stop??

        • Anonymous

          Bush fucked America in the ass for 8 years. He shit diarrhea in his pants in front of a classroom of children during the nation’s darkest hour, and then continued to sit in his soils until his staff escorted him out. He then lied us into an assbungled war in Iraq. And he was jacking off when the economy came crashing down. He was the worst president of the last 100 years, and its not even close. That these fuckwits who listen to Glenn Blumpkin can even bitch about President Obama is absurd. 

          • tobias smit

             Unlike you I actually use my name, but also unlike you I finished high-school, college and advanced education.
             I also ,unlike you, know how to speak and write coherently and am now happily retired. And will never depend on the government (but sadly probably paying your welfare and medical). Have a good night whom ever you really are.

          • Anonymous

            Please! Your language gives you away as a real ignorant person, er fool.

          • Anonymous

            your name says it all.  I do really feel sorry for you;  that you choose to be among the willfully ignorant lemmings thinking (LOL) you have it all figured out.  Tell me mr/ms randypants what would you have done, if on your watch America was blown apart by muslims?  How would have you responded?  Go ahead, tell the world how wonderful the choices you would have made, would have been!

          • Anonymous

            You are a sick individual.  Your dirty language and the thoughts behind it are disgusting.  Clean up your act or get lost.  You are not wanted and your posts are a disgrace!!!

          • Lorraine

            Gosh you’re gross. Ewwwwww.

        • Anonymous

          “Where would you stop??”
          Where should you stop?—This is a different question than the one you posed, and I think this question needs to be answered first: Where Americans should stop is the point when the traitors are ALL dead. There are thousands of traitors—- at least. For example, the big six U.S. banks and the Fed are full of traitors who “should” be hanged from the neck until dead. That would be a just and memorable outcome. 

          Where would Americans stop is an entirely different and open question. I don’t know at what point Americans will stop or be stopped by the traitors themselves. Perhaps the traitors shall prevail. 

          Where I would stop is also a different, open question. I don’t think I’d even begin the process unless I thought enough Americans where well educated and not so ignorant as to replace the traitors with new traitors.

          The most likely outcome is that the Great Economic Crash crushes all the digital wealth of the vast majority of Americans including those with government jobs. At that point, the masses will frenzy themselves into a bloodbath. People like myself, who see the writing on the wall, don’t want any part of that bloodbath. I want a trial, a verdict and then to see the traitors hanged by the neck until dead.

          • laura

            “Where Americans should stop is the point when the traitors are ALL dead”
            OH HELL YES, YOU ROCK!

      • Draxx

        This is a clip from MSNBC that is actually stating that Obummer is going way beyond any Presidential Authority…  I know that this kind of stuff sure makes me uncomfortable with this Administration!


        • http://www.youtube.com/watch?v=IDFGELoC4zc Sam Fisher

          You know your in trouble as a liberal leader when even MSNBC is like what the hell man. 

      • http://www.absoluteintensity.com dennis reilly

         so right on, both need to pay for the harm they have caused, including the entire congress

    • Bonnie Somer

      luckily for Lew and the pres we took in over 200 mil in revenue he knows full well he can use it on the interest on the debt and o/bills 

  • Eva Jack

    My Uncle Thomas recently got a new black Volkswagen Beetle Convertible only from working parttime off a pc. check this 

  • Gayle Schermerhorn


    • Gayle Schermerhorn


      • Guest

         Interesting, and scary.

  • Defend The Constitution

    Know liberty. Sow liberty. Reap the rewards.  It is up to you: http://www.amazon.com/dp/B0094KY878

  • Anonymous

    Obama and his minions also should all be fired.  They are not serving us, their employers.  Fire them all.

  • http://www.youtube.com/watch?v=IDFGELoC4zc Sam Fisher

    The only reason why they would want this is to make it hurt for us. To get the people fooled into believing the lie that this is hurting the economy. Since it is not fitting with the scare tactics they will try everything in their power to make it hard for us.

  • http://www.absoluteintensity.com dennis reilly

    I want to thank Jim also, so simple but true as he stated, progressives must hate him!!!

  • Anonymous

    Just like in the Jackson years, when the central bank (that preceded the FED, I might add) was destroying the economy and trying to blame it on the president who’d vowed to shut them down.  He succeeded, the economy rebounded, and we were ok until the next central bank…

  • Anonymous

    There are multiple reasons why Obama uses this shut down to hurt Americans . One of them being he , Lew are laying the rhetorical groundwork for Obama to raise the debt ceiling on his own , illegally of course. He knows his low information nit wits will believe all that he says , they really do believe this whole chaotic shutdown is the Republicans fault. If Boehner and House refuse to compromise on the debt ceiling , Obama will do it on his own. All he will have to say is it would destroy the economy and he had to do it.Of course this action would cause a Constitutional crisis and the Obama deadbots would continue to chant , yes we can. Truly , Obama is the most vile and evil man ever to occupy the people’s White House !

  • Liberty: Coercion’s Absence

    Liberty and free enterprise free us from the shackles of collective agreement required thousands of years ago when bands of our ancient ancestors obeyed their primitive collective instincts.

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