I know what you’re thinking. “It seems like just yesterday that he was talking about a ‘new sense of urgency’ on deficits and job growth.” You’re wrong, though. It was two days ago. Maybe the mood passed?
Over to you, Zero Hedge guy:
We bring you this special announcement courtesy of the White House which has informed that American plebs that following a fantastic job well done, in which the market is now back to pre-QE2 levels, unemployment is near record highs, delays for presidential press meetings compare with Newark airplane take offs, pessimism is at record highs, America’s credit rating has just been downgraded, the country was nearly bankrupted, and sales of end of the world provisions are through the roof (not to mention ammunition), president Obama is taking a well-deserved vacation at Martha’s Vineyard at the end of the month…
Our advice: buy ELY stock: with the market about to implode, the president is sure to make at least one company’s year.
The Bidens have already decamped to the Hamptons, you’ll be pleased to know, and plenty of European leaders are still on vacay despite the tremors in the eurozone and ominous economic forecasts coming out of Germany. Although that’s beginning to change: Sarkozy canceled the rest of his trip to deal with the risk that France is next up for a downgrade and the Netherlands’ parliament recalled its prime minister to discuss the Greece bailout agreed to last month.
But you know what? If O is dead set on a little Vineyard frolicking while the global economy shudders, let him go. He knows the political risk of getting caught by a photographer playing hacky sack on a day when the market drops another 500 points. (It was down 519 today; two of the top 10 biggest Dow drops in market history have occurred within the past three days.) His approval rating’s already perilously close to breaking through the 40th-percentile floor; 73 percent say the country’s on the wrong track; and just one in four Americans still has confidence in the federal government to solve economic problems.
At least Michelle Obama slipped out of DC quietly for her vacation in Oregon.
Now I suppose she will need another vacation just in time to go with hubby to the vineyards, right?
Does anyone remember that line from the OLD (Leslie Howard version) movie, The Scarlet Pimpernil?
Howard (as the Scarlet Pimpernil) made a remark that he had been feeling tired so he went to the spa for the waters but after taking the waters and coming home he was now so exhausted that he’d need to go again to take the waters again.
Too many vacations can be so tiring.
He probably figures the safest time to take a few days away is while the nitwits who caused the crash are still out on their month-long vacation.
Congress presently has a RCP average approval rating of 18.5 percent, with 75.3 percent of the public disapproving.
Ummm greg, do you really not understand he’s part of why the crash happened? Are you really that dumb?
@Hard Right, #3:
Of course I understand. If Obama hadn’t been elected following the 2008 crash, there would be no need for republicans to create another crash to get him out of office.
How would it be if for the elderly right now, if they were depending on private investment income rather than Social Security to put food on the table?
I knew I was asking a rhetorical question. You are that stupid.
Ever wonder if all the wall street bankers and harvaard mba’s ever missed a recent vacation. 25-32% unemployment in this county and all the senator and house and brainless iditros x 2 are all on vacation. When was the last time the aveage american family took a vacatiion on the federal dollor. holder, biden, the plastic junkie, are all in nice vacations that my tax dollor has payed for..Smile America..you got screwed again.
mos 8541, you realize after we bailed out Goldman Sachs they gave all their employees a $600,000 bonus, all 16,000 of them. Just makes you want ot send some extra money to Obama on April 15.
@Hard Right, #5:
Did you miss the question? Maybe those on the far right would rather it not be asked:
How would it be for the elderly right now, if they were depending on private investment income rather than Social Security to put food on the table?
@Greg:
Sheesh!
Greg!
Are you so uneducated about investments that you don’t realize people shift their investment portfolios as they age?
You shift further away from risk as you age.
“Elderly” people who were smart enough to invest during their productive years are now in corporate BONDS, foreign BONDS and also U.S. Treasury BONDS.
What stocks they still hold are those that reward high dividends.
One such fund I have has produced 60 years worth of uninterrupted dividends.
U.S. Treasury bonds. For security.
I don’t really know whether I’m supposed to laugh at this point or not.
I’ll roll out another rhetorical question.
Assume there were no Social Security retirement insurance system. Instead, all working people were investing their money in the stock market.
With investment participation on a scale equivalent to current Social Security participation, would everyone be a winner at retirement age? Everybody profits, with returns big enough to retire on, and nobody loses? Is that how the stock market actually works?
Comrade greg, the thread is about obama jaunting off on a vactation while people are losing their *ss.
Unable to defend obama’s actions you instead launch an attack to try and distract from his tone deafness and uncaring behavior. In typical moonabt fashion you even accuse the GOP of causing the economic problem just to get him out of office. This from someone who wanted us to lose in Iraq so the dems would get back into power.
Little FYI genius, obama and the dems are mostly responsible for the economy and have been for some time. I know those facts are wasted on a marxist like yourself, but you seem to think my failure to respond to your previous rantings means I was ducking you. That was funny since debating you is like clubbing a baby seal.
Greg.
Examine the stock market by 20 and 30 year increments.
You can pick any start year you want.
What do you learn?
That, over the LONG RUN, the market makes everybody in it money.
The only people I have ever met who lost money in the market were ”day traders.”
@Hard Right, #12:
Since it’s been established that the nitwits who created the debt ceiling crisis and the current stock market instability will be away on the taxpayers’ dime for most of a solid month, I’m not inclined to go ballistic if the President takes a few days off in their absence.
@Nan G, #13:
During the decline from October 1929 through 1932, the stock market lost 90% of it’s value. It didn’t fully recover its losses from the crash until 1954. Thanks, but no thanks.
@Greg:
For that to apply you’d have to really be OLD!
Heck, most of the laws about finance came after that!
Elderly?
Dang!
You’d have to be ANCIENT!
Anyway, guess what, greg?
Whenever a generation of people got lost in the shuffle, like the so-called ”notch babies,” born between 1914 and 1918, the government made special compensations for them.
I knew one of these ladies once….she is long gone.
She outlived THREE husbands!
Her highest paycheck was for $0.75/hour!
Not only did the government bend over backwards for her in her golden years, so did all of us at the church she attended.
Too bad Obama wants to take away people’s deductions for charitable giving.
He’s rather have the government’s fingerprints and get credit for every alms to the poor widows.
what Greg doesn’t understand is that if the government was not taking our money and mishandling it, Social Security for example, and they were not allowed such economic intervention, the economy would be in a very different state right now. The recession was caused by the fool’s errand of the Fed’s fiscal instability, government economic planning and social justice schemes. But it’s not really worth debating with people of such a vulgar misunderstanding of economics.