For once, it was a nice, quiet, normal-for-August week, right?
Let's see...developments in Libya, Syria, Israel/Gaza/Egypt all would seem to go on the list. More on the Eurozone. Not nearly as much with the US economy, though. The president did a campaign-style trip...that doesn't qualify.
We did have Tim Pawlenty drop out, following his lousy results at Ames (and perceived lousy debate last week). The press correctly interpreted Michele Bachmann's victory at Ames as no big deal, given that it was Ames, and given that Rick Perry and Mitt Romney didn't contest it. I'm inclined to think, however, that the bumps in the Perry rollout go in the "didn't matter" pile. He may or may not win, but I don't think his chances changed much compared to a week ago.
I suspect that there's some policy stuff that I'm not remembering right now (if I'm going to do this, I really should take better notes throughout the week; sorry). But what do you have? What do you think mattered this week?
Saturday, August 20, 2011
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buffett op-ed, possibly
ReplyDeleteMy wife (and better investing half) noted yesterday that the S&P 500 fell 1.5%, with that previously-noteworthy data point feeling almost like an afterthought these days. For the week the S&P was down almost 5%; the past four weeks have been the worst since 2009 and 2nd worst since 1950.
ReplyDeleteAnd yet, I don't know if its learned helplessness setting in, but I'm not even sure I would nominate that...
There was an awful manufacturing report out of the Fed, which apparently usually serves as a leading indicator. We'll see, I guess.
ReplyDeleteAgree with CSH -- it's the markets/economy -- although this week there are no scapegoats, all there is to do is sit back and watch long term events play themselves out.
ReplyDeleteThree things.
ReplyDelete1. The Perry comments re: the Fed and that they demonstrate how the GOP is not the party of business but the party of anti-government whatever it means for business. Its not the comments so much as that they represent the views of the party's base.
2. The continued seeming feebleness of the Obama Administration. They seem to be playing defense on all fronts with nary a bright spot from a progressive or even positive from almost any angle, opening. Their only respite is that things seem to be really bad in other places that Americans might look to as alternative systems of approaching their challenges like Europe.
and,
3. The continued sense that the GOP is still unsettled between their various choices -- still hoping for a Christie entry or even the potential for a Palin entry. To add to this is the sense that the GOP is comfortable treating the Democrats not as worthy opponents but as the "other," almost un-American and alien and having misappropriated what is good about our country and true to her values. There is almost no longer any pretense that the economic situation, rather than being addressable is grist for the electoral windmill for which no political price will be paid.