That Worked Out Well, Did It Not?: The Obama Effect

Back in 2008, every time Henry Paulson appeared on TV to 'calm the markets', the markets would begin to tank ever more precipitously. OS privately called it 'The Paulson Effect', and was too naive to short the market. (Now no longer...)

Obama has assumed Paulson's mantle. As soon as he read his teleprompter remarks, and stalked out like the petulant child he is, the selling began in earnest.

OS went back to his work, and listened to Bach. He checked in again shortly after the markets closed, and spontaneously exclaimed an expletive he will refrain from repeating in print.

Just for the record, the Dow closed down 634.76 points, the S&P down 79.92, gold broke an all-time high, and silver is retracing to its earlier highs.

OS's liberal friends want to blame it all on the Tea Party, and ignore that the Dems were routed last November.

He gently reminds them that any country with over 50 trillion of unfunded obligations, and borrows .40 over every dollar it currently spends, is on the path to tragedy.

Not even the Fed can stop this sell-off. We've all learned too much, and are less susceptible to being stampeded, since 2008. The markets, both in equities and bonds, have a long way to go to align themselves with reality. OS thinks reality is Dow 7500 and S&P 600.

Disclosures: Short the S&P, long gold, long silver. Paying debts off as quickly as his little fingers can write checks, and has been for quite a while now. Looking to plant gardens and install livestock on his acreage for next spring. Renewing his hunting license.

Previewing The President's Remarks, 8 August 2011

Himself will be mounting the podium soon, but the teleprompters must be prepared first.

Dustin Hoffman has been brought back to coach TheOne, so here's the last minute preps:

OK, Barry, whatever the Flip you do, Stay With The Teleprompter!

Do not, under any circumstance, go off script.

Look at me Barry! Try to concentrate! Geeeez!!!! Not the time for a cigarette, Barry! No, Barry, you can't go play golf today! No, Barry, you can't play basketball, either. You have a speech to make! (Ohmygod...)

Remember, it Bush's fault. It's Boehner's fault. It's the Tea Party's fault. It's God's fault for timing the earthquake in Japan like He did. NoNoNoNo, scratch that one, we don't believe in God except when we need His endorsement.

It's the fault of S&P--they're all racists, and have been secretly taken over by Tea Party zombies! That's a good one!

It's all the fault of that Zionist Cantor!

They can't do math, and we're in the process of correcting them. Gino and Vito are on the way now to 'splain things to them.

Fannie and Freddie don't matter, so don't even begin to talk about Fannie and Freddie.

Intone jobzjobzjobzjobz....growthgrowthrowthgrowth....

It's because we can't raise taxes! That's a good one, and blame it on the Tea Party!

Remember, whatever you say, It's Not Your Fault! None of it! Only YOU know what's best for the country. Only YOU know the WillOfTheAmericanPeople!

(Geeeeeez, who decided to put this guy in office? What were they thinking?)

OK, here we go!