In case you missed it, please observe. A week ago, and for the previous 2 months, the Obama Administration had been talking about BP as “they”. Yet suddenly, 3 days ago BP says they are ready to put a cap on the leak that will collect all or almost all of the oil spewing out of the Deepwater Horizon, perhaps as early as tomorrow.
So what do you hear from the Administration representatives on all of today’s Sunday talk shows? “‘We’ are confident ‘we’ are making progress”. “‘We’ are confident this latest action will work”. For perhaps the best illustration of this, see White House Press Secretary Robert Gibbs on “Meet the Press” today at http://www.msnbc.msn.com/id/3032608/. When things are going well, it’s “we” for the Obama administration. When things are going poorly, it’s because of “them” (BP, the rich, big oil, big banks, insurance companies, President Bush, Cambridge police officers).
While you are watching Mr. Gibbs notice how many times he references, 18 months into the Obama Administration, the “previous administration”. Ah, we are still in the “they” stage relative to Afghanistan, the unemployment rate, the economy, North Korea, and more. If our children did this we would lecture them endlessly about accepting responsibility, not putting blame on others, about looking forward not back. But somehow administration officials– and very frequently the President himself– fall back on this juvenile tactic for redirecting responsibility.
Keep your eyes open. The best time to go long on the stock market will be when the President and Robert Gibbs starting say “we” when referencing the United States economy!