Tag Archives: State of the Union

SOTU=No Change to Deficits

By Andrew Busch | Published: January 26, 2011

State of the Union addresses are normally long on vision and short on specifics as the president attempts to lay out a broad vision for the country. Yet, there are examples throughout our nation’s history of dramatic speeches that carried true weight. The Monroe Doctrine, Lincoln’s slavery abolition and FDR’s 1941 Freedom speeches all come to mind. However, I think what President Obama was hoping for was the 1996 Clinton SOTU that generated a 7 point increase in the polls.

For the markets, the major positive points were: a cut in corporate taxes, a re-working of the health care law, … …READ MORE

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SOTU: Devil's in the Details

By Andrew Busch | Published: January 28, 2010

President Obama’s state of the union address had something in it for everyone last night. The loudest bipartisan cheer occurred when President Obama said, “And tonight, I’d like to talk about how together, we can deliver on that promise. It begins with our economy.” For the markets, the most critical component came next.

“So I supported the last administration’s efforts to create the financial rescue program. And when we took the program over, we made it more transparent and accountable. As a result, the markets are now stabilized, and we have recovered most of the money we spent on the … …READ MORE

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Simpsons Decision Making Time:

By Andrew Busch | Published: January 26, 2010

Today at 11:10 AM ET, I’ll be appearing on CNBC’s The Call discussing the negative impact on the markets due to the political uncertainty in the United States.

Last night, the White House leaked out a portion of their State of the Union platform and it was a good start. Actually at this point with spending, the markets want any start, hope, action on reigning in government spending that doesn’t contribute to job growth. Why is Obama shifting/morphing in this direction?

The NYT writes, “With his poll numbers down and Democrats fearing disaster in this year’s midterm elections, Mr. Obama … …READ MORE

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US Housing: Walk Away?

By Andrew Busch | Published: January 25, 2010

US existing home sales (EHS) fell a disappointing 16.7% as the rush from the first time home buyers credit earlier in the fall depleted sales in December. However, sales had rebounded significantly from the lows last Jan-Mar and have reduced inventories significantly as well. It’s the inventory component that holds the key for prices as they move down from a catastrophic 11.2 months worth of homes down to 6.5 months of supply. Just put up a graph on EHS (as they decrease inventories) with S&P CS home prices and you will the relationship.

2009 was a terrible year for housing … …READ MORE

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The Obama Redirect To Uncertainty

By Andrew Busch | Published: January 22, 2010

After a stunning loss in the Massachusetts Senate race and loss of the critical 60-40 split in the US Senate, President Barack Obama did not wait long to change tactics and go on the offensive. Yesterday’s bank plan announcement is a fascinating turn in the political discussion. While the details are still a bit sketchy, the rhetoric is not. The speech had a direct negative impact on the equity markets as the S&P 500 dropped 1.89% and the financial sector dropped 2.93%.

While I (and others) believe the agenda of the White House will be pulled more mainstream due to … …READ MORE

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