The stock market is all about confidence, or lack of it. After all, the stock market is about people investing their own money!
What's going on in the US economy?
Yes, it's true that Europe is not doing well. The Economist has a good summary of the Euro-zone and its lack of leadership.
Over here, we have our lack of leadership.
Unfortunately for Pres BO, no one is buying his message any more.
We had very bad GDP-growth numbers last week. Add to that dismal manufacturing-growth news and investors do not see a future that looks bright.
Pres BO can not do this by himself anymore or give another speech that will have an impact. He needs to go a lot further than that.
Pres BO should fire the entire economic team and replace them with people who have actually created jobs, such as business leaders and ex-governors like Gov Rendell of Pennsylvania.
Pres BO needs credibility because he does not have it anymore. Also, he is running out of time very quickly!
Check our Friday show for more on this topic:
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