many must be asking as things get worse with seemingly no end in
site. Why is this. Those who voted for Obama, this blogger not
being one of them, voted for hope and change. However, we have
seen fear and politics as usual in Washington. To make matters
worse, every time Obama or his Treasury secretary Tim Geithner
open their mouths, the markets tank because there is absolutely
no confidence in either of them. Add to this several factors and
you have a recipe for disaster.
The jobless numbers came out this past week and they were worse
than expected. Obama can no longer blame this on the Bush
administration and their policies as these statistics are from
his first month in office. In other words, he owns the issue of
the economy and all of its problems. The statute of limitations
on blaming the Bush administration should and must run out real
quick. Unfortunately this might not happen as soon as it should
because the mainstream media is in the tank for Obama.
Everything Obama has proposed is long on ideas and short on
details which sends the markets tumbling. To say that we have
inexperience at the first level would be a gross understatement.
What we have is something worse than that but I am not sure what
that is yet.
Then there is the issue of Geithnerr. He can't begin to fill the
top positions at Treasury. I think this is a result of lack of
confidence in him and the tax issue coming back to bite; but that
gets to the whole issue of change and transparency that Obama
preached during the campaign. Once elected, we are seeing
politics as usual, which is something I thought would happen
given the fact that he is from Illinois which is viewed as one of
the more corrupt states in the union, especially given recent
events in this state. Why should the markets have any confidence
in a tax cheat who doesn't know what he is doing? They shouldn't
and don't.
Can you say scared? I sure can because I am scared for the
future and what it holds for all of us.
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