Anybody want to guess what happened on Wed, January 19, 2010 right before the market fell off a cliff? If you guessed Obama delivered a politically charged speech to rally for his own support and crucify others, you’re right! On Wed, January 19th, Obama went on national TV to tell the world, “we want our money back” and “if they want a fight, a fight is what they’ll get.” The “they” of course, are “greedy rich” people. The markets immediately started to sell-off and the S&P 500 is now down about 6% since.
Good old fashion class warfare is never good for the economy, neither is continuous political jibber jabber. Do you ever remember a president being on TV as much as our current president? The risk of overexposure is very real, and the record low approval rating for any president at this point in his term shows this. The State of The Union address is supposed to be an opportunity to unify the people. Besides the typical feel-good rhetoric, what I heard was a continued attack on others, protecting personal interest groups, and maintaining giant silos.
YOU SO CRAFTY NEBRASKA