It is simply amazing to me to be able to watch the strongest stock and commodity markets on the planet fall in real time when something like the Standard and Poor report comes out downgrading US debt ratings.
The DOW Industrial falls nearly 200 points, while gold goes up more than $10 in the first hours of trading. Oil came back down to $106/barrel... but only because demand is expected to fall (just a little) with the latest decline in the markets.
Today I read that Obama is taking his debt reduction plan on a nation-wide tour to build support... which tells me he's having trouble selling the fourteen year plan to people who want to see improvment in their personal finances immediately. I'm trying to think of a successful Presidential policy that carried the same scope of time as this one... what if New Deal had promised results only after 14 years had elapsed? What if the Civil Rights movement had needed 14 years to complete before it could become the law of the land? Imagine the Berlin Crisis, or the Cuban Missile Crisis, only being resolved after 14 years... would those Presidents have had to take their agendas on national speaking tours to build support?
That's the up-side of working in the poker room so much... lots and lots of TV time during work, and control of four remotes.
Hehe.
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