Tuesday, September 03, 2013

Lightworker's Syria Ineptitude Good for Stocks

It is pretty much looking like left and right agree, Obama is embarrassingly inept in the conduct of foreign policy over his handling of Syria.  (Actually, he's embarrassingly inept over most things, but this is an undeniable and overt case that defies partisan posturing.)

So, how is this good for the stock market?  It merely solidifies themes and trends in place that were driving the market higher, namely the Lightworker's lame-duckdom.  Obama had very little juice to bring to what remaining items on his agenda are left that impact the economy in a big way.  After the Syria clusterfark, he'll have negative credibility in any policy debates before Congress, especially over big ticket items that can screw with the economy.  He'll make the decision on Bernanke's successor and he'll dicker with Boehner over the debt ceiling to no great effect,  but zero major legislation will accrue to his record from here on in.  And the stock market loves it.

Finally, doesn't this whole episode provide yet another example of just how laughable and ridiculous the Obama-phoria (all the Lightworker type stuff) was?  The guy is a bozo, and the elites went bananas for him - all that fawning, the Nobel Peace Prize, all that crap.  All for a dime store faculty lounge leftist.  Black skin and an exotic name and "narrative".  That's all it took to get the tingles going up legs.

UPDATE:   As if on cue, the immigration push, which Valerie Jarrett was saying would be Obama's second great lasting achievement, is being back-burnered.  I suspect that back-burnering means death for the Senate immigration mess.  Syria will play out, debt ceiling stuff will grab headlines in the fall and then we have the holidays where people are aren't paying attention.  Now, we're looking at 2014.  Amnesty looks in trouble.

UPPDATE:  Obama simply cannot look like a bigger fool and blunder than with this "not my red line" gibberish, and stocks are up.  This theory has something too it...

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