“What distinguishes this market’s period from the daily catastrophes that took place throughout the fall is the predictability of the news. Markets fall, and the daily commentary from strategists describing the action might as well be a photocopy from the previous session, with blank spaces left open to fill in the name of the economic report that disappointed investors and the government official or big-name investor who spoke gloomily about the outlook for growth.”
The growing discontent with the administration seems to be building almost daily and the fallout from this has put Obama in an “attack dog” mode.
As David Axelrod commented “his job was to manage the President’s image” and as I have pointed out several times recently not only investors but the Joe Six Packs of the country are going to be demanding result soon, perhaps even very soon.
The question is: how long the USD’s rally continue with this backdrop? The sole saving grace I see is there aren’t any clear cut alternatives at the moment.
That could change.
http://blogs.wsj.com/marketbeat/2009/03/09/feeling-numb/
