Thursday, August 30, 2012

Wall Street Depressed by Paul Ryan

Young Paul Ryan made his debut on the national stage last night at the GOP Convention and Republicans won't be happy with the results.  The next morning, investors are depressed about what Ryan had to offer as the Dow Jones Industrial Average is off 69 points.  A similar result occurred when Mitt Romney was announced as the party's nominee.

The main problem was that Ryan was too premature for prime time.  His speech offered not just gaffes, but deliberate lies, like when he tried to blame President Obama for a GM plant closure in his home state of Wisconsin.  Ryan is smart enough to know that the plant closed while his president, George W. Bush, was in power and long before Obama even took office.  He also blamed Obama for not accepting all of the recommendations of the debt commission, that same debt commission that Ryan himself walked away from.

In his 20-minute speech, Ryan didn't offer one shred of anything that resembled a plan; rather, he sounded very "Perot-like", someone who said we needed to change and needed to do better, without having Clue One about how to accomplish that.

I have never held political office, but if someone like me can debate every one of Ryan's points and make him look back, he's a little too unseasoned for the grill of American politics.

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