Commentary Magazine


Flotsam and Jetsam

The markets don’t have faith in Obama’s economic policies: “Stocks fell sharply Tuesday as a steep decline in consumer confidence aggravated growing concern about the global economy and sent the Standard & Poor’s 500-stock index to a new low for the year. Stocks fell from the start, continuing a trend that had begun overnight in Asia and spread to Europe, driving major indexes in the United States down about 3 percent.”

Allan Meltzer doesn’t think the markets are behaving irrationally to Obamanomics: “Two overarching reasons explain the failure of Obamanomics. First, administration economists and their outside supporters neglected the longer-term costs and consequences of their actions. Second, the administration and Congress have through their deeds and words heightened uncertainty about the economic future. High uncertainty is the enemy of investment and growth.”

Bill Clinton doesn’t follow Obama’s political judgment: “Former President Bill Clinton broke with the White House Tuesday and endorsed Sen. Michael Bennet’s (D-Colo.) primary challenger.”

Democratic Rep. Gene Taylor doesn’t pull any punches on Obama’s response to the BP oil spill. He says, “I haven’t seen this much incompetence since Michael Brown was running FEMA.’

The voters don’t like Obama’s Guantanamo decision: “A new Rasmussen Reports national telephone survey finds that just 36% of voters agree with the president’s decision to close the Guantanamo facility, Obama’s first major act upon taking office. Fifty-four percent (54%) disagree with that decision.”

Israel doesn’t want to knuckle under to Obama on a  Middle East peace deal: “U.S. envoy to the Middle East George Mitchell is frustrated by the conduct of Prime Minister Benjamin Netanyahu in the proximity talks with the Palestinians. … A senior Israeli source updated on some of the content of the proximity talks said that the American frustration stems from the fact that Netanyahu has so far not given any clear answers on the borders of the future Palestinian state.”

Turkey doesn’t  appear impressed with Obama’s straddling on the flotilla incident: “Israel must apologize for its blockade of the Gaza Strip, as well as compensate the people of Gaza, Turkish Prime Minister Recep Tayyip Erdogan said in an interview to American television Monday, adding that such an apology would be a condition to continued Turkish mediation in any future peace talks between Israel and Syria.” Yes, the Turks want Israel to capitulate, and Obama’s half-measures have only whetted their appetite for more Israel-bashing.

Californians don’t like the Obama economy: “Californians’ concerns about their state economy mirrors similar worries in other states. ‘There’s a high level of discontentment,’ said poll analyst [Clifford] Young. ‘They’re mad. However, in California is not clear who they’re going to be mad at. It will be incumbent upon the different candidates to frame that to their advantage.'” Right now, they are mad at Barbara Boxer, who is under 50 percent in the poll — a bad sign for an incumbent.

Liberals don’t like Obama at all, says Fareed Zakaria: “Liberals are dismayed. They’re angry. They’re abandoning him.”

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