After a week of heading down, down, down, on Friday the Dow Jones Industrial Average surged again after about 3 p.m. Just before that surge came the announcement by President-Elect (love that phrase, “President-Elect”) Barack Obama that he was naming New York Fed president Timothy Geithner as his Treasury Secretary. He did that and here was the result:
Yet Rush Limbaugh thinks this is an “Obama Recession”. Really? Let me get this straight: Limbaugh and his ilk (love that word, “ilk”) have been blaming pretty much anything bad that’s happened in the past 8 years on Bill Clinton. Now, with two months left to go in the Bush Administration, they have leapfrogged ahead and are now blaming anything bad that happens on Barack Obama. They skipped eight years! According to them, Bush has had no negative impact! Such brilliant, brilliant analysis.
This morning President-Elect (there’s that phrase again) Obama, aka “Hopey McHopington”, released the following statement where he discusses his plan to immediately pass legislation designed to create 2.5 million new jobs by January 2011:
This is a powerful statement that he’s going to land on the Oval Office with the engines revved up and the clutch ready to be popped. I would be shocked if this didn’t have a major positive impact on the stock market on Monday morning.
All I want to know is when do we get our turbans and Korans?
I’m just sayin’…
