Can’t quite agree with Booman’s fp story and most comments in Know Your Enemies.

Don’t blame the media or bloggers. The Obama administration has to make the case of policy put forward. When in the end the result doesn’t cover the views and position taken, the perception will be Obama caved. This has happened too often. Obama needs to take finite steps and make his priority clear. From his inauguration, policy should have been the state of the economy and JOBS!

The Cairo speech to the Muslim world community was wasted, the Israeli government escaped from engaging the peace process. The setback is grave for US foreign policy in the world.

The debt deal is not only a battle lost, this might just be Obama’s Waterloo on the economy and jobs. The Bush tax cuts should have been top priority for Democrats.

The US economy is in bad shape and there is no united front with the business community on job creation. No one gets re-elected in a deep recession and unemployment near 10%. Time wasted is opportunity lost.

Interesting that the housing policy in Israel has awakened the left minority and leading massive protests throughout the nation. Yet the economy is doing extremely well. This upsets Netanyahu and his right-wing regime that they may decide a distraction of war or peace! Interesting, yet the protests in the US from progressives are leading to accusations of treason to a sitting President? Odd.

Update [2011-08-04 14:37:42 EST by Oui]:

US Stocks Continue Slide on Thursday: Dow Jones drops 512 points -4.3%

NEW YORK — Worries about the state of the economy in the U.S. and around the world slammed stocks on Thursday, driving the Dow Jones industrial average to close down more than 500 points. It was the Dow’s worst drop since October 2008.

Bonds soared as investors sought a safe place to park their money.

All three major indexes — the Dow, the S&P 500 and the Nasdaq — ended down more than 4 percent. They also are down more than 10 percent from their previous highs, putting them into correction territory. The market’s so-called “fear index,” the CBOE Volatility Index (VIX), rose above 30 in its biggest daily percentage move since May 2010.

Index     Last         Change
DJIA     11383.8   -512.61   -4.31%
NASDAQ    2556.39  -120.01   -4.48%
S&P 500   1200.1    -60.24   -4.78%

Major Market Indices”People are throwing in the towel because they can’t find relief on any front. There are a lot of worries about the economy.”

"But I will not let myself be reduced to silence."

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