Obama, Buffett and Unemployment
Far be it from me to question the genius of the Oracle of Omaha. But current news related to the financial guru come at a bad time for the Obama folks. Not one, not two, but four consecutive losing quarters at BH may cause the unfamiliar to wonder why people were impressed by Warren Buffett being associated with the new President-elect’s inner circle and the speculation of a cabinet post for the famous tycoon.
Berkshire Hathaway Profit Falls 77% to $1.06 Billion (Update2)
By Erik Holm and Linda Shen
Does the story below set the bar for Obama? Will he now be compared to Reagan and be required to reach some arbitrary standard as President? As his staffers may have alluded to this day, standing in front of the White House press gaggle is a sobering reality after 20 months as a candidate. As some have expressed, okay, now the election is over and it is time to deliver. Not an enviable position to assume. Careful what you wish for, you just may get it. Much easier for the rest of us unless the team is not up to the task.
Obama Will Inherit Worst U.S. Recession Since Reagan Era, Jobs Data Signal
U.S. Economy: Jobless Rate Climbs to 14-Year High (Update2)
If readers feel compelled to comment that the mess is not his fault and criticize this blog for publishing this report, pay attention. You know what you are likely to face if elected when pursuing the highest office in the land. Which naturally allows one to conclude the candidate was fully aware he would be expected to succeed. Even the man liberals love to hate, Sean Hannity, has repeatedly wished the President-elect well and hopes for success as it is in everyone’s best interest. Added to that was the right of every citizen to voice criticism if and when it is deserved. But go ahead and complain anyway. Besides, it aids the traffic stats.
Numerous reports focused on Obama’s press conference suggesting quick action on financial matters after officially taking office. Not unlike the campaign, that statement is vague. But in this case it is acceptable as a President can spook the market by making unnecessary statements. But Obama has set his own bar on this one perhaps without realizing it. To say in general that you will take quick action positions the public to focus on January 20th and pounce shortly thereafter if action does not produce some immediate and measurable results. Not problem solved, but some immediate and measurable results.
Stanford Matthews
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