This morning Jeff Greenfield, one of the sharpest television journalists currently with NBC, declares, “‘We will always be a Triple-A country’-gets an ‘F’. Lamest single line of his Presidency. What next? ‘American’ ends in ‘I-CAN’'”?
And Now, This Update From Your Broker: ‘Goodbye, Cruel World.’
Monday was one of those days when I look at a recent poll and wonder why anybody approves of Obama.
I marvel at Obama’s ability to witness every bad development on his watch and inevitably conclude that it is further evidence that he’s been right all along and that nothing he’s done or proposed required reexamination.
“No matter what some agency may say, we’ve always been and always will be a triple-A country.”
Great. Now he finds his veto pen, and he wants to use it on Standard & Poor’s. What the heck does that even mean? We’re silver medalists, but in his mind, we’ll always be gold?
I’m sorry, Mr. President, but declaring that we’ll always be AAA in your heart means jack squat to lenders. Obama’s policies have just run headlong into basic market realities – too much is going out, and not enough is coming in. He and his Treasury Secretary seem to think they can demonize Standard & Poors enough to get them to ignore that fact.
The Lonely Conservative: “I just saw at the bottom of the TV screen that today’s drop in the Dow was the 6th worst one day plunge ever. Nothing like going to work to escape reality. Other than glancing at the little stock market widget on my monitor I wasn’t paying too much attention. I noticed things were down early, then a little before noon it looked like there was a chance the market would go back up. A little later in the afternoon I saw that the Dow was down over 500 points, that’s about the same time I received an email telling me President Obama was speaking.
It was more of the same. There was absolutely nothing new. From then on it was just a disaster. The Dow lost over 600 points, and closed at under 11,000. Boy, I hate to see what tomorrow will bring. Hopefully Obama will keep his mouth shut, he just makes everything worse.
In related news – Freddie and Fannie, as well as other agencies, were also downgraded. States and municipalities could be next. I suppose the Democrats will blame that on the tea party, too.”
Of course it’s the Tea Parties’ fault. If they hadn’t pointed out the runaway spending and debt, no one ever would have noticed, right? Sigh.