What… Tell me it’s not so! Barack Obama had been in office now for all of… 34 days already and there’s been NO MIRACLE yet! Wall Street hasn’t suddenly rebounded? The global economic crisis hasn’t been HEALED!!! The GDP isn’t bouncing back to normal…
Clearly this presidency is in immediate peril of becoming an epic failure.
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Wrong.
The Dow is not Obama’s scorecard.
The Dow is merely an emotion ridden barometer of the fear and angst that manifests itself on any given day on Wall Street. Likewise the TSX.
If the Dow were Obama’s scorcard, then that assumes that what’s good for Wall Street is good for Main Street, which is most certainly is not.
Had Washington bailed out Lehman Brothers, would that have been good for Main Street, as it would certainly have been good for the Dow, since Lehman’s stock would not have tanked.
Is is good for Main Street when companies lay off employees to reduce their costs, with the effect that their stock prices pop? No, but that’s great for Wall Street.
It is a fundamentally flawed assumption to believe that the Dow is anything but a the sum total of the closing prices of the nifty fifty on any given trading day….an not a score card for any politician, past, present or future.
All we need now is a picture of Obama reading “The Pet Goat” and his fate is sealed…
Brent — I was being sarcastic. The hysterical panic of insane nutjobs like Chris Matthews are worthy only of ridicule. It’s just kind of frustrating that the very same “liberal media” elitists that carelessly laughed off the criminal antics and recklessness of the Bush presidency for years is now freaking out that in just shortly over a month, somehow Obama hasn’t managed to “turn the corner” on things. It would perhaps be a lot funnier if it wasn’t so sad.
RedTory:
Your sarcasm was not lost on me!…my comments were solely addressed to the caption on the screen:
Matthews: The Dow is Obama’s scorecard
Re: “It would perhaps be a lot funnier if it wasn’t so sad.”
Well, you can take comfort in this:
Survey Reveals Broad Support for President
The New York Times
February 23, 2009
President Obama is benefiting from remarkably high levels of optimism and confidence among Americans about his leadership, providing him with substantial political clout as he confronts the nation’s economic challenges and opposition from nearly all Republicans in Congress, according to the latest New York Times/CBS News poll.
I saw some poll numbers come out today along the same lines. Quite markedly different from what one might think watching cable news. Something like 13% felt the stimulus package would make things worse… Well, you’d never know that from the SCLM where Republicans have been having a field day crapping all over it and lying their asses off (e.g., the imagined mag-lev train from Disneyland to Vegas… that’s a whopper!).
Hey, you’re talking Chris Matthews here – you know, he gets a tingle up his leg when he listens to Obama.
Obama’s Summit and the Myth of Republican Fiscal Responsibility
By Jon Perr Monday Feb 23, 2009 3:30pm
To the displeasure of many on both sides of aisle, President Obama on today is hosting the so-called Fiscal Responsibility Summit at the White House. While some Democrats question the timing of Obama’s expenditure of political capital on Social Security, Medicare and other entitlement reform, obstructionist Republicans are ridiculing the event even as they hype the myth of Republican fiscal discipline.
Crooks and Liars has the CHART in this segment on the history of so-called fiscal conservatives since Truman.
Interesting – they’ve not been successful at all.
You kid, but the reality is that there was a sizable chunk of the American public (and the Global public for that matter) that DID believe that the Obamassiah would cure the world’s ills immediatly. Most of us sane people dismissed it as hogwash, but even the Obama team slyly tried to keep that Hope and Changiness dream alive. It worked out for them in the short term, but politicals is as much about expectations as it is about ability, and when the voters see you as their new Jesus, you better be able to walk on water.
Mark – How about we wait until the program is actually enacted before we declare it a failure? I realized that you’re really anxious to let out a big “I told you so”, but we should probably wait until it’s actually given a chance to do something first.
P.S. When you use terms like Obamassiah, it’s kind of a tip-off of where your post is headed.