Steven M. Cohen
Steven M. Cohen
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Pundicity: Informed Opinion and Review

Latest Articles and Blog Posts

Obama's Boot on the Neck of the Recovery

May 25, 2010 at 1:20 pm

Stock markets the world over are plunging just a few weeks after the worst of the recession appeared to be behind us. It's not surprising to see some retrenchment after last year's epic run, but we have already plunged through levels that would suggest simply a normal pullback in response to stocks getting slightly ahead of themselves. Technical analysts point out daily the latest support level that failed to hold. Down is the direction of least resistance, and that is the case with nearly all asset classes, whether stocks, fixed income securities, real estate, commodities, you name it—with the exception of gold, a traditional refuge in times of crisis, and the dollar. The dollar's strength is remarkable, as it again proves to be the default currency when panic abounds. This is the case in spite of the fact that a politically-charged Fed keeps printing more of them at an alarming pace. The U.S. seems to be doing everything in its power to undermine its currency rather than protect it, yet the world still is drawn to it. Perhaps it's testimony to how bad things are everywhere else.

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Night of the Living Dems

December 18, 2009

Like lumbering undead creatures in a horror flick, Democrats keep lurching towards a health "reform" bill, regardless of content, as the objective of passing any sort of grab-bag legislation has apparently become an end in itself. Staring blankly into space, staggering forward in the sort of grotesque lockstep that used to thrill science-fiction moviegoers in the now-quaint days before computerized special effects, the majority party appears determined to invade and destroy any remaining bastions of common sense and bipartisanship. Emerging after eight years of Republican control, these political zombies have risen from their electoral graves to wreak havoc on regular citizens cowering in fear and dread of a monster of their own creation—the burgeoning federal government.

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The Obama Gang: Tyranny by a Thousand Cuts

October 26, 2009

As Americans continue their dalliance with redistribution and collectivism—policies now being reversed or even shunned in other parts of the world—the process takes on the aura of a car wreck, an out-of-body experience seemingly taking place in slow motion. Yet the pace at which we are surrendering our fundamental rights is not a protracted deterioration but instead is breathtakingly quick, considering the fundamental damage visited upon our democratic system by the Obama administration in its brief tenure of less than ten months. Never have so few wreaked so much havoc on so many in so little time.

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Obama and the Cult of Personality

September 10, 2009  •

While historians continue to be divided among the factual and the apocryphal, at the conclusion of the American Revolution, so the legend goes, George Washington was confronted by a movement within the Continental Army to declare him king. According to the story, a major proponent of the plan was Col. Lewis Nicola, a Frenchman who had fought under Washington alongside the colonists. The proposal was supported by a group of influential Army officers who evidently had little understanding of the man who had just led them to victory. When Nicola put forth the idea for Washington's consideration, he received an immediate response laced with scorn and revulsion: "Let me conjure you then, if you have any regard for your country, concern for yourself or for posterity, or respect for me, to banish these thoughts from your mind and never communicate, as from yourself or any one else, a sentiment of like nature."

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Obama Down, Economy Up

August 10, 2009  •

The New York Post and The Wall Street Journal have a common ownership and share a nearly identical conservative philosophy, but the similarities stop there. The Journal has, over time, expanded beyond its financial news coverage franchise into more general interest reporting, while the Post has consistently adhered to a rather, shall we say, energetic style of conveying every conceivable kind of story. But last weekend both papers simultaneously came to the same conclusion observed in these columns weeks ago: the stock market moves inversely to Barack Obama's approval ratings.

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