Strengthening Constitutional Self-Government

No Left Turns

Obama’s Katrina?

It is widely thought that Bush started losing his authority by his imperfect reaction (perceived) to Katrina. Frank Rich suggests that Obama may have already reached that point. The point here is not to dispute much of his piece, but to note that when Frank Rich thinks that Obama (and the administration generally) is nearing the precipice, he may already have fallen off.

Discussions - 3 Comments

Interesting and if so this will just confirm the hall of mirrors...I think you must be talking about some sort of washington insider mind...Now Congress has fallen off a precipice of sorts, but Obama is holding up...calling a Katrina for Obama should on some level require an actual hurricane...I am not seeing it, yet...look watching CNBC I have noticed a pick up in the mood, body language is better, and no more looking up and to the left when being positive(eventhough the big board is to the right)...Don't know if it matters but nothing substantial has occured over the weekend other than hotair, the market will continue to move upwards this week as it started to do when the first rumblings of "Obama honeymoon over" came about...unless Obama falling off the precipice is bullish?

"Obama honeymoon over" calls the short run bottom and signals a rally? "Obama over the precipice" signals a continued rally?

If so "Obama honeymoon not over yet" signals down market?

Lets no get too far ahead but I think market goes up this week.

Yes, this week could be bad. Really bad. Evidently another $1 trillion plan to buy the financial market's "toxic assets" is going to be revealed Monday. Plus this interview with 60 Minutes (Drudge is running both stories). I think a lot of people in the middle who were genuinely hoping for change (pun absolutely intended) and thought President Obama was bringing something new to the table are going to experience that "oh crap" feeling in the pit of their stomach when they suddenly realize that he really has no idea what he's doing. One thing he does have going for him: he probably won't have to contend with the press running stories of cannibalism in the Superdome.

Surely he's lost the thoughtful crowd by now. Who in the world believes that printing a TRILLION dollars out of thin air can help the economy? That's never worked in the past (think Weimar Republic, or 1970s Brazil), and it can only lead to collapse down the road.

They need to learn from Japan. A decade of recession UNTIL they finally fixed their financial didn't take massive infusions of capital, but rather commonsense and the willingness to tell the money boys to return to fundamentals.

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