Confidence.
Today's headlines all come down to a lack of confidence.
Washington has thrown up its hands. People are in a mood to lynch the leaders of the biggest banks. So Congress spent the day telling the biggest automakers to drop dead.
Someone needs to step in. George W. Bush is chuckling his way to America's grave. He is in power for two more months, and while it didn't seem possible a few weeks ago he's still capable of enormous mischief.
It's risky, but it is time for President Barack Obama to step forward. It's time for a road trip.
Might I suggest Omaha?
Take a plane to Omaha to see Warren Buffett, who lost 12%
of his immense fortune just today. Bill Gates could fly in from
Seattle. Anyone else the President-elect wants to can fly in from anywhere they are, because this is important.
No ties. No drama. Sit around a table with coffee and pleasantries. Come out and say everything is going to be all right, even if you don't believe it.
There needs to be the appearance of movement, even if there is no movement. There needs to be a plan, or at least the appearance of one being built. Stocks have fallen through the post-September support levels, and there seems to be nothing to stop things getting much worse very quickly.
When you start seeing Maria Bartiromo sounding like a panicked housewife, we've got trouble. And what we need right now is calm. Someone needs to say "I got this, it's going to be OK."
Even if they can't do anything about it before January 20.
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