Dow, Nasdaq and Moody’s, Oh My!!

What a week on the beltway! In Obama’s own words (which we were privileged to hear over and over and over most of July) Tuesday was a success by his account. Well if this is so, then why the 500 plus drop on Wall Street this week? Just a guess, but I think those Wall Street guys know something we don’t and it might just have something to do with the special yellow brick road they’ve paved all the way from NYC to the Capitol. Oh my!

While families and Americans nationwide begin to comprehend today’s mini-milestone, Obama assures the Press Corp that they can take a break now that they’ve raised the debt ceiling by $2.4 trillion. Wow! I don’t know about you but for me that just takes a load off. Seriously though, on the bright side, at least they aren’t in D.C. right now conjuring up more bogus legislation to posture around. It’s like they don’t know we also have access to the Internet and can Google on CBO, GAO and Library of Congress any time of the day.

Americans today get it more than they know, seriously.

One thing this week that really got the EUG perturbed is Obama’s attempt to kidnap the rhetoric of the mounting Tea Party Movement and Reagan Conservative Caucus — commonsense, a climate where business can hire, where folks have more money in their pockets. It must have been darn hard to read these silly little phrases off the teleprompter. But it must have been even harder for the unflappable, freshman conservatives, who so tenaciously tested Speaker Boehner’s will making him hold out for as much as he could get from the Obama, Reid, Pelosi (ORP) triumvirate, to stomach these words coming from the Oval Office three years too late. These unflappable U.S. legislators, and there weren’t many, were truly the catalyst for the small success that the Elite GOP quickly claimed as theirs on August 2.

Even with all the debt reduction fanfare, the scare factor was too much for the European and Asian markets, which quivered and tanked soon after Obama’s dried signature had sealed the deal. Analysts then turned wearily to what The New York Times described as the next, perhaps more important, task: determining how the new debt-ceiling law will affect the economy.

It won’t, just read the new law. At the end of the day, the new debt-ceiling law can be compared to a tourniquet protecting the soldier [Americans] from an open and bleeding wound [economy]. All I can say is I sure hope surgery is scheduled for November 6, 2012. Let’s just hope we aren’t waiting for Uncle Sam to approve the surgery!