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Audacity of Dopes (2): Obama and Tim “Turbo Tax” on parade February 11, 2009

Posted by vsap in Blogroll, Financial Crisis, Uncategorized, US Politics.
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The Fort Myers News-Press gave us a glimpse at how President Obama manufacturing “the dream” for the lost and delusional (excerpted, bold is mine):

“From the time he asked President Barack Obama the final question at Tuesday’s town hall meeting in Fort Myers, Julio Osegueda rocketed from a Cape Coral teenager who flips burgers at a local McDonald’s to a popular face on many national television shows.

“I was totally shocked,” said the 19-year-old Cape Coral resident who has worked at McDonald’s on Cape Coral Parkway for four and half years about his moment with Obama. “I had a chance to ask the President of the United States a question and he gave me such a motivational answer.

Osegueda’s dream moment almost never happened. He was one of hundreds who waited overnight in line at the Harborside Event Center. He said he received the last pair of tickets and considered selling them.

He walked into the center Tuesday with hundreds of supporters, took his seat and waited for Obama. Then, he went crazy.

“I jumped up on my chair, screamed my lungs out and shouted ‘your the man, pick me, pick me. I felt good,” Osegueda said.

Then, Obama changed his life. “Thank you Lord Jesus,” he said he shouted as he stood face to face with the president.

Osegueda asked the president if he could receive better benefits.

“No. 1, the fact that you are working, as hard as you’re working, at a job that I know that doesn’t always pay as well as some other jobs,” Obama told him. “I think that’s a source of pride for you.”

“He gave me such a motivational answer,” the communications major at Edison State College said. “I definitely, at first, had a lot of negative thoughts going into the future, but hearing from the president myself, I am not going to stop what I am doing.”

Osegueda voted for the President Obama last November. It was the 2008 Cape High graduate’s first election.

“This is the greatest time of my life,” he said. “He picked me in person. I have never felt this good except maybe when I got my Playstation3 for Christmas.

Wow! That’s beautiful, Julio. How juiced is this guy? Is this the next generation of star-struck American Idol worshippers who believe in the characters of the shows they watch of which, now, the president is the lead role?

Is the world actually impressed, like Julio, with this empty suit President?

Well, back to REAL reality with Jack Healy and The New York Times later in the day (excerpted, bold is mine):

Stock prices fell sharply on Tuesday after Treasury Secretary Timothy F. Geithner unveiled the government’s latest efforts address the troubled banking system, a plan whose price tag could reach $2 trillion in money from the Treasury, Federal Reserve and private sector. Primary among the government’s efforts was an expanded effort to ease consumer and commercial credit and a new program to buy up hard-to-sell assets that have bogged down banks.

The Dow Jones industrial average dropped 381.99 points, or 4.6 percent, to close at 7,888.88. The Dow had fallen as much as 420 points in the last half hour of trading.

The broader Standard & Poor’s 500-stock index fell 4.9 percent or 42.73 points, to 827.16, its worst performance since a broad sell-off on Inauguration Day.

Despite the size and scope of the Obama administration’s plans, investors said Mr. Geithner’s proposal raised more questions than it answered. The way out of the financial crisis, analysts said, looked as murky as ever.

“We’re not impressed, and I don’t think the market’s impressed either,” said Ryan Larson, head equity trader at Voyageur Asset Management. “It’s clear the administration is still trying to work on something concrete. I think the market sensed that, too.”

A key measure of market volatility rose, as did prices of safe-haven government debt. The yield on the benchmark 10-year Treasury note, which rose above 3 percent on Monday, fell back to 2.83 percent.

Every sector of the market was trading lower, with the Standard & Poor’s financials index falling by more than 8 percent, reflecting uncertainty about the banking system and how the government’s latest plans would affect major financial companies. Shares of Bank of America slid 19 percent percent, and Goldman Sachs and Morgan Stanley also fell.

Stock markets had surged last week as investors waited for Mr. Geithner to lay out how the administration would spend the second half of the $700 billion bailout. But by mid-afternoon on Tuesday, that buying spree had reversed starkly.

It’s this kind of buy-the-hope, sell-the-news mentality that the market’s taken over the last few months,” said Dean Curnutt, president of Macro Risk Advisors. ”

Tim “Turbo Tax” is finding that hitching his wagon to the Obama star is getting him perilously close to the sun. He will surely burn in the political heat if he doesn’t get more specific quick. Finanical markets may get giddy about the newest debt instrument, but they don’t get distracted by celebrity.

A thousand town hall meetings won’t convince the American people this is a good plan. Even Sen. Chuck Shumer admitted people were too focused on the “little” pork that was is the stimulus bill. ANY pork, Chuckie, is NO GOOD!!! Do I need to stand on my chair like Julio cum Tom Cruise to get this message out?

If you’d like to see Obama’s so-called economic stimulus plan graphically, in an easy to read format, go here:

http://www.creditloan.com/infographics/obamas-economic-stimulus-plan-mapped-out/

Keep the Pepto close by.

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