Obamanomics: Still Not Working

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As of 12:40 p.m. today, the Dow Jones Industrial Average is off more than 230 points, down below 9,900. This decline — about 2%, and roughly twice what the futures market had signaled overnight — is probably due to a sharp drop in consumer confidence. This is being interpreted as a strong indicator of a double-dip recession.

Timely advice from Rick Santelli:

Somehow, this video also seems timely:

BONUS: “Unexpectedly“!

UPDATE 4:10 p.m. ET: The final close was 9,870, down 268 points, and everyone on CNBC is now saying “double-dip.” We might say that the apostles of “recovery” — who were high-fiving each other in April, when the Dow was 1,300 points higher — now have about as much remaining credibility as that Daily Kos pollster.

UPDATE II: How’s that “Recovery Summer” workin’ out for ya?

25 comments

  5. Whaddya mean, “not working?”

    At this rate, he will have brought America to its knees in a single term – sounds like he is right on schedule!

  9. Robert the loser is unhappy with you:
    20 Killgore Trout Tue, Jun 29, 2010 2:27:44pm replyquote

    * 0
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    re: #5 Charles

    Come on, folks, get out there and retweet this one!

    And be sure to add “#tcot #tlot #p2” to it. It’s also a good idea to add McCain’s Twitter name “@rsmccain” so it will stick in his eye.

    Damn, I already retweeted before adding the extra tags. I gotta get use to that.

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