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What a buffoon, how pathetic was this? The markets sure didn’t like it.

In Debt Downgrade Aftermath, Obama Serves Up a Silly Speech

First, do no harm. That is a useful injunction for doctors, lawyers, and, it turns out, U.S. presidents.

But President Obama’s useless speech Monday about the basic soundness of the American economy managed to reinforce all the concerns Americans on the left and right have about his stewardship of the country.

The speech did at least temporary harm. As soon as he finished speaking, the already jittery financial markets plunged.

. . .

His calm, passionless, “voice of reason” message, without a single new proposal except his pledge to make specific proposals in the future and work with the Congressionally designated super-committee to address the deficit and debt crises – “leading from behind again” – actually panicked the markets. And no wonder. Americans were looking for a leader, and what we got was the professor again.

See also:
Dow plunges as Obama says US A-OK
Presidential Failure
Matt Gurney: Obama’s speech writers should have their salaries downgraded
Obama’s jobs-message problem
Obama’s Jobs Message Isn’t Catching On
The Washington-Wall Street Disconnect Grows Even Wider
The most powerful man on Earth?
World’s Most Powerful Man Seems … Powerless
Republicans pan Obama’s speech
Democratic logic downgraded

If Obama can’t lead the economy out of the wilderness, he needs to at least call off his regulatory zealots and generally get out of the way. I’m guessing his resignation would be too much to expect from someone so obsessed with himself.

/Obama wouldn’t know sound economic policy if you tattooed it on his forehead backward, so he could read it in the mirror


Operation Hemorrhage

Al Qaeda has a new asymmetric warfare strategy. Instead of plotting spectacular attacks that might take years to plan and execute, they’re now intent on carrying out cheaper, smaller, more frequent attacks with the goal of causing economic damage by making the West respond to the threat, whether the attacks succeed or not.

Al Qaeda Promises U.S. Death By A ‘Thousand Cuts’

Printer bombs planted on two cargo flights last month cost only a few thousand dollars and were intended to affect the American economy, according to a newly published Al Qaeda-affiliated magazine.

The attempt was called “Operation Hemorrhage,” boasted the magazine, and the entire plot cost al Qaeda in the Arabian Peninsula, or AQAP, only $4,200.

. . .

The magazine also revealed the attack was not meant to kill more than the plane’s pilot and co-pilot, and was meant to force the U.S. government to spend billions of dollars on preventive security screening measures.

The strategy, the magazine said, was “of attacking the enemy with smaller, but more frequent operations is what some may refer to as the strategy of a thousand cuts. The aim is to bleed the enemy to death.”

See also:
Al-Qa’ida plot cost only $4261
Cargo-bomb plot cost just $4,200 : Al Qaeda
Al Qaeda claims parcel bomb plot cost $4,200
New issue of Al Qaeda magazine details failed mail bomb plot, signals shift to smaller-scale attacks
Qaeda Branch Aimed for Broad Damage at Low Cost
Al-Qaeda boasts of ‘bargain’ bomb plots
Al-Qaeda vows to continue parcel bomb attacks
Small-scale attacks to continue, Al Qaeda group says
Report: Would-be plane bombers post attack details
AQAP: Mail Plots Successful, Cost Low
AQAP Releases Special Issue of ‘Inspire’ Magazine ‘Operation Hemorrhage’ – Dedicated Entirely To Explosive Parcels Plot

So far, even though none of their attacks has been successful, AQAP is achieving its goal of causing massive economic damage by forcing the West to onerously tighten security measures, at great expense, in response to the terrorist threats. This new strategy costs al Qaeda next to nothing, while the West does all the economic damage heavy lifting against themselves, trying to defend against the perceived threat, whether the threat is real or implied.

/perhaps the best example of how well this new al Qaeda strategy is working is the ongoing TSA debacle