The Dow dropped 382 points yesterday, reflecting Wall Street's confidence in the new administration's vague plans for spending trillions of dollars that we do not have.
We are not impressed with Mr Geithner who should have showed-up better prepared to address the details that he surely must have known were expected. One blogger thinks he looked like a deer in the headlights. I thought his attempts at coolness came-off as arrogance
We are also dismayed by the President's vagueness at the press conference yesterday. Unlike the fawning George Stephanopoulos, we gave him a "D" because like most of the country, we wanted to hear a reason to support his plans. He did not earn any grade points on economy questions. Complaining about partisan politics (because the opposition wanted to cut out funding for programs that would do nothing to improve the economy)clangs like an empty drum.
Then again today at the town meeting in Ft Myers, it was embarrassing to hear questioners begging The President for relief for their "urgent needs" as if he were the moderator of a give-away show. (Er, fine, my staff will look into it.)
How about, "Sorry, I know I promised you Socialism, but it's gonna take time to get the money to all you victims of opression."
Every day my retirement nestegg gets smaller. I need a bailout too but, like Chicken Little, I'm afraid that the sky (Dow) has fallen - and it can't get up.
7 comments:
It's a wonder you don't get whiplash from swinging so rapidly from left to right.
You should try it. It's called perspective. You get a better view when you try to see both sides.
Remember that old video game "Pong"? I don't think that bouncing ball ever got much of a weltenschaung.
Neither does Osama Bin Ladin hiding in his cave preaching the purity of his moral high ground.
At least Osama (for all his evil) doesn't suffer from moral relativism -- the first sign of cultural collapse.
Perhaps Some cultures need to collapse, eh?
When I have you backed into such a tiny philosophical corner that you end-updefending Osama Bin Laden's virtue of consistency, I can safely claim: Checkmate!
Rather, I am backed into a cave. You have the last word. KABOOM!!
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