Obama To Vacation On Martha's Vineyard Following A Job Well Done................. Pessimism Hits new Record

We bring you this special announcement courtesy of the White House which has informed that American plebs that following a fantastic job well done, in which the market is now back to pre-QE2 levels, unemployment is near record highs, delays for presidential press meetings compare with Newark airplane take offs, pessimism is at record highs, America's credit rating has just been downgraded, the country was nearly bankrupted, and sales of end of the world provisions are through the roof (not to mention ammunition), president Obama is taking a well-deserved vacation at Martha's Vineyard at the end of the month.

From Bloomberg: "President Barack Obama will vacation with his family in Martha's Vineyard at the end of this month as he's done in years past, the White House said Wednesday, despite the weak economy and negotiations on the nation's debt problem. Press secretary Jay Carney defended Obama's plans to take a break even as he's pledged urgent action on those issues. "I don't think Americans out there would begrudge that notion that the president would spend some time with his 

family," Carney said." Spot on, Jay, spot on.

While Obama heads out to rest and relax most Americans think little of the job he is doing.  

Pessimism Hits Record: 73% Of Americans, An All Time High, Think The US Is Headed In Wrong Direction

Perhaps someone should staple the following latest poll from Reuters/Ipsos to the office door of the Fed chairman in the Marriner Eccles building, according to which a record number of people or 73% of all Americans, believe the economy is headed in the wrong direction. This is the highest number measured since the poll started its survey in February of 2009. Only 21% believe the US is on the right track: we assume these are the few people who actually made money in the stock market in the past few months, in other words those long various precious metals. Additionally, 47% of respondents believe the worst is yet to come for the economy, the highest since the March 2009 low when the number was 57%. Furthermore, Obama's approval rating dropped from 49% to 45% over the past month. Perhaps it is time to kill Osama for the 3rd (or is that 4th?) time. Bottom line: pessimism is now at or near fresh all time highs. And this is the environment in which the true viceroy of the Americas, Goldman Sachs, has now decreed will proceed with QE3? If the American revolution was deferred back in November when QE2 was enacted, we fail to see how it will be avoided this time around when people realize that gasoline is headed for $9/gallon. Or roughly what Europeans pay today.