Drudge Report Asks if We are in "Barackalypse Now?"

Are we in Barackalypse Now? The Drudge Report seems to think so.

Are we in Barackalypse? That's what the Drudge Report is calling the bloodbath on Wall Street, with the Dow tumbling 634.76 or 5.55 percent Monday. This is the biggest point and percentage drop since December 1, 2008.  Is this really fair to blame President Obama when this has been a long time coming? Why can't the Republicans understand you can't cure what ails America by cutting entitlement spending. You have to increase revenue and that means raising taxes and closing loopholes. We are no longer a manufacturing society, so guess what? We import more than we export.

On a slightly different note, the Congressional Black Caucus is at odds with President Obama and there is some tension brewing about the economic plight of the black community. With unemployment in the black community in double digits, hovering around 16% for black men and slightly lower for black women, we have been in Barackalypse for quite some time. We have also been ignored by the Republican Party continuously, year after year.

MAJOR U.S. INDEXES

.DJIA

10809.85

-634.76

-5.55%

.NCOMP

2357.69

-174.72

-6.9%

0

.SPX

1119.46

-79.92

-6.66%

0