Obama Cheerleading Session on TV

DriftingByTheStorm

God.
I'm not trying to hate.
In many ways i am GLAD we have a president who seems to enjoy communicating with the people.

That being said, not only am i often skeptical of his true sincerity,
but i am starting to find that these photo op "press conference" affairs ... this one arranged in front of a student body of pom-pom pushing obama hardcores ... are little more than spirit rallies.
the voracity of the audience in some cases is becoming reminiscent of hitler youth rallies.
i'm not trying to draw undue nazi references, but we DO NOT need a cult of personality coming from the oval office.

We need honest scrutiny of policy, an informed electorate, and an honest and unceremonious account of the facts. I feel like most of what we have seen from Obama in these speeches is little more than overt propaganda and empty drivel masqerading as facts and sincerity.

PLEASE don't turn this in to an "at least he isn't Bush\McCain" neocon bashing session.
I'm asking if anyone else is concerned that this combination of agenda pushing and flag pole rallying is counterproductive and dangerous?

???

flywallyfly

I agree these speeches do seem to have the flag waving hysteria we have come to associate with the Republican party the last decade. I think it shows the Dems are using their playbook because it works when people are frightened and want to believe the government can "save" us.

On a side note, I noticed this when Bush was in office and now with Obama -- they have some strange audiences to have detailed policy speeches with.

DriftingByTheStorm

The market seemingly couldn't care less about this housing plan.
I find the lack of reaction to be interesting.
Yikes.

flywallyfly

Looks like the market is moving up a bit now.

flywallyfly

Nevermind, it's roller coaster time.

DriftingByTheStorm

flywallyfly wrote:

Looks like the market is moving up a bit now.

nope.
Keep in mind 50dow points is almost "margin of error" these days,
the market had been on both sides of 0 before and after his speech,
and it hasn't traded much out of +/- 15-20pts range from unchanged on the Dow since it ended.

That to me means the market doesn't care.
The only way i can makes sense of that is if they already knew, and discounted the news heavily already (in the selling yesterday) ... or what i think is more likely: the market has already learned a hard lesson predicated on the LAST two major bailouts (the 700billion of tarp commitments, and the 800billion "stimulus") and is already in a phase of intensive disillusionment with government intervention.

In thinking about the intervention more generally, it occured to me during yesterday's meltdown that WE ARE EXACTLY WHERE WE WERE TOLD WE WOULD BE IF THE BAILOUT BILL HAD NOT PASSED.

I mean, Dow 7500 IS A FINANCIAL CATASTROPHE.
WHAT DID WE AVOID exactly !?!?!
[edit: to be honest, we MAY have avoided an outright implossion in the markets, private credit markets and overnight bank rates were indeed FUCKED at the time, and they have both improved to different extents since then]

THAT thought ALMOST scares the shit out of me,
but i think i'm smart enough to know the answer, and it's pretty boring:
we DIDN'T AVOID ANYTHING, and probably wasted a bunch of effort to simply delay a process of market collapse by a few weeks or months.

The ONLY thing (besides metals) which are showing ANY strength right now, is the US Dollar and Treasuries ... both benefiting GREATLY from massive paranoia, and manipulation.