[Note: “Hope Train” posts celebrate President Obama’s journey from mongering “fear” of the economy to preaching “hope” for the economy.]
I hear the Hope Train a-comin’ whenever I read a headline that begins: “Obama suggests buying stocks.”
Quote: “After being accused for weeks of being too negative about the economy, Obama recently has shifted to a more positive tone. He and his aides still say recovery won’t come quickly, but they are becoming more aggressive in declaring that the government’s efforts will work.”
Is it working? Well, apparently the American people are liking what they’re hearing from the President: A new poll from the Wall Street Journal (conducted after the Hope Train pulled out of the station during the President’s address to Congress on February 24) indicates he’s “resonating with the American people despite the economic crisis.” (Despite the timing of the poll after the President boarded the Hope Train, I’m willing to admit his high ratings are more likely “honeymoon” than Hope Train influenced.)
says, ‘All aboard’
the Hope Train.
Speaking of the Hope Train, Fed Chairman Bernanke was riding the same rails today, announcing a $200 billion program to spur lending for autos, education, credit cards and consumer loans. “If the program succeeds, it should help break economy-crippling credit clogs and make it easier for Americans to finance purchases large and small at lower rates, Bernanke said.”
Unfortunately, Treasury Secretary Timothy Geithner’s ticket on the Hope Train must not have arrived in time for him to get on board. This morning, he told the House Ways and Means Committee that President Barack Obama’s administration inherited “the worst fiscal situation in American history.” The worst in American history? Even worse than when the pioneers had nothing to eat but pine cones and field mice? Or worse than when the Germans bombed Pearl Harbor? I think not. Secretary Geithner: Get on this train.
Later: This post was written Tuesday night. On Wednesday morning, it appears that the world’s stock markets are hoping aboard the Hope Train — at least for day-trip.