Reality Sinking In?

Today was pretty negative for stocks and positive for that most-hated asset class. The Italian election results took an unexpected turn and there was no movement on the sequester, except that Juan Peron President Obama traveled to hold yet another campaign-style rally to push for tax hikes. I presume that is all he knows how to do, so he does it. When all you have is a hammer, everything looks like a nail. Yesterday Evita Peron Michelle Obama handed out the Best Picture Oscar, obviously now running her campaign for political office in 2014. Her attempts to tell us how to live from the White House have flopped, but have shown us that she, like her husband, is an expert at hypocrisy and narcissism, so she should do well.

According to Clear Channel’s Steven Gregory on Twitter: When Michelle Obama was introduced by Jack Nicholson most of the reporters in the media room groaned….loudly

Obama fatigue is setting in. Charisma only goes so far. Are the markets finally beginning to understand that Obama is pushing an ideological agenda, not an economic one? And that he has no idea of the potential consequences?

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