I’m serious. Just as it is becoming clear that Barack Obama’s presidency is floundering, the stock market is beginning to rise. If you look back at when it really started to tank, that tracks pretty closely with the moment it looked as if he might win the job. This morning it looks pretty bad for Barack and his spending programs and the market is jumping:
The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today’s bleak landscape.
The administration’s annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Barack Obama’s budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.
The release of the update – usually scheduled for mid-July – has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town on its August 7 summer recess.
Gridlock is clearly ahead. The market likes that – and it should. Also today we find Romney already tied with Obama in a putative 2012 battle in a Rasmussen Poll. That keeps up and I may even go back into the market myself. [Don’t be an idiot.-ed. Okay, okay. Fool me once, etc….]