Here Obama does several things in one shot:
- he consoles the individuals and families affected by the layoffs
- he points out that bellwethers like Intel and Microsoft are laying off thousands
- he uses the big presidential megaphone to gather the American people's attention
- he takes a good shot at Republicans for obstructionism and divisiveness
- he helps keep the market buoyant by keeping the notion of another bailout in everyone's ears
- as a result the market closed today, Monday, up a few hairs rather than collapse under the weight of 50,000 more layoffs and horrible economic reports
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3 comments:
I think I read somewhere back in Nov. that back then what we were all witnessing was to use the analogy of a tsunami the part of it when the water recedes from the coastline but the wave hasn't yet arrived. Now we are starting to see the water rushing back in in a huge smashing wave and everyday were watching as more and more of the economy gets washed away and with it people's lives. The rest of us are left clinging to whatever we can grab onto if were at ground level. The few and the lucky watch from above safe.
It interesting I've noticed my spending habits are changing considerably.
I rarely go to the movies, spend less on dinner, walk more, buy less expensive but still organic food, stuff like that. I've gotten very very conservative with spending my money.
The patient is on life support and we are not certain shes going to make it. The doctors say its going to take time but everyday she's loosing blood.
We've all changed this last yr. First with the gas thing and now the general economy. It's just the start.
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