Former pollster Pat Caddell got off a great turn of phrase. Talking about the Goldman Sachs prediction that the economy will be experiencing an 8.75% jobless rate at the end of 2012, Caddell said that made it likely Obama would be “Goldman Sacked” if that proves true. He also belied the cozy relationship Obama has with many in the financial community.
Speaking of economic trouble, one pundit explained the reluctance to buy a house as the prices continue to decline as not wanting to “catch a falling knife.”
CNBC economist Rick Santelli commented on Thursday’s poor jobless numbers. He said “we went from a credit crisis to recession and now I think we have a ‘financial repression’ and it’s self inflicted.” It’s a good way to describe the regulations choking our business sector.
The other big story has been the debt ceiling negotiations. Conservatives have wondered if Speaker John Boehner would stand firm. Over the weekend, he did. Radio talk show host Laura Ingraham applauded Boehner’s refusal to return Obama’s phone call. She called it his “Reykjavik moment.” She was referring to Reagan backing out of an arms agreement with Gorbachev in Iceland. Many were horrified that he didn’t accept a poor deal. Looks like it worked out in the end. Same story here.