The Lagging Indicators, aka America’s underemployed and less than-impressed taxpayers, have answered a new poll conducted by CNNMoney. And by the looks of it, Obama’s ‘Recovery Summer’ is slowly becoming the next ‘Mission Accomplished’, flight suit sold separately.
Ironically, I’m too busy trading stocks in a bull market to add much in the way of commentary, below are the high lowlights:
Seventy-four percent of Americans believe the economy is still in a recession.
Only 25 percent think the downturn is over.
One-third of Americans say the recession is serious, while another 29 percent characterize it as moderate.
But wait, one smidge of sunshine…
One small cause for optimism: the percentage of Americans who say the country is in a recession has dropped 13 points since August.
So all this fatalism about the state of the economy is a guaranteed death sentence for Obama and the Dems, right? Not so fast says my buddy Joe Weisenthal. Dems are climbing in the polls in some of the most followed races headed into the mid-terms…
If you’re betting on “gridlock” being good for the market, you may want to get nervous.
In California, Democrats Barbara Boxer and Jerry Brown are pulling away from Carly Fiorinia and Meg Whitman in races for Senate and Governor respectively.
In Ohio, Democrats are narrowing the gap in both the Governor and Senate races (though the Senate race still seems like a clear GOP pickup).
In Kentucky, Rand Paul is now neck and neck with his Democratic challenger, after the same poll once showed up him by 15.
It seems that the Lagging Indicators may still want the stimulus programs the Dems are in favor of – how else to explain a populace that says Obama’s programs haven’t ended the recession but would vote for the candidates that are promising more of them?
Strange days, indeed.