Dow Rises, Obama Backs Down?

Oh the wonders of spin, the joys of doctoring and put it all together mix it around and what pops out of the other end of something is a mastery of wizardly waffle, which to anyone else is called lying. President Obama has acknowledged that he may not be in a position to actually persuade the US that it is necessary to act and react now that the red line has been crossed. Well, apparently the red line doesn’t exist anymore, because he is also denying having said that too.

Obama stated just two days ago that he ‘didn’t set a red line’ concerning the use of chemical weapons in Syria. Apparently, it was all down to Congress and the rest of the world and the drawing of that red line. Admittedly, he went on to refer to the fact that the international community passed a treaty in 1993 stating that they were forbidden even in the event of a war. Isn’t that more spin? How is it possible for politicians to stand up and tell bare faced lies, when they know full well that nobody believes them? Trouble is, they say it so often that they end up believing the spin themselves. You know, that fine line between telling a whopping lie and falling into pathological dysfunctional behavior because you think it really happened.

So, President Obama has backed down on the red line and he is back tracking right now on his ability to persuade the US to attack Syria while at the G20 summit in Russia. Isolated along with France very much so at the summit, Putin is on his own turf and playing in someone else’s back yard is always risky business. The other delegates largely agreed that Syria was not the topic of discussion at the G20, but it has been ever since the summit opened. Britain jumped up and down as David Cameron got a chill go down his spine from the gulags of Siberia as he got icy-cold wind of a (later-denied) rumor that the UK was just a small island that nobody listened to anymore. After having stamped his feet he stubbed his toe on the journalists present and launched into a lengthy appraisal of everything that was Great (about) Britain. But Obama’s backtracking has had a marginal effect on the activity of the Dow Jones Industrial Average.

Even while Obama was speaking the Dow Jones Industrial Average took an upturn in the hope that the backtracking might lead to the US not participating in any form of attack on Syria. Where will that leave France? Out on a limb and in the cold, most certainly.

The Dow Jones is up now by 0.24% (+35.39 points to 14, 972.87).

  • Nearly 80% of Americans want to get Congressional approval of any attack that takes place on the Syrian regime of Bachar-al-Assad.
  • 59% of Americans are against a strike of any kind.
  • Only 36% are in support of it.
  • In December 2012, 63% were in favor of a strike on Syria.

Obama and Putin finally agreed to meet at the end of today’s meeting, which signals another backtrack in the statements of President Obama who said that he would not be meeting with the Russian leader in a tit-for-tat thumbs down to Putin over the Edward Snowden affair. The meeting was concluded by a statement in which there was more newspeak. They both agreed to disagree (that’s wonderful in itself, finding agreement when you can’t get any common ground; rather an antagonistic ability to find good everywhere) adding that the meeting was very ‘constructive’.

We would like to see how it could have been if nothing was decided.

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tothetick

Professional team of writers/analysts analyzing the financial markets.

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