Guest Post: Nero's Fiddle And Obama's Golfclubs

Tyler Durden's picture

Submitted by Peter Tchir of TF Market Advisor

Nero's Fiddle And Obama's Golfclubs

I'm not sure what was going through Nero's mind at the time, but for posterity he is known as the leader who played a fiddle while the city he was responsible for crumbled all around him.  I have no clue what Obama's legacy will be, but his decision to remain on spring break with his family while the world is in crisis seems questionable.  Yes, I know its hard to cancel even a 'working' vacation with the kids, but in these turbulent times, we need more than pictures of him working in his 'mobile command centers'.  Maybe being awarded the Nobel Peace Prize based on some campaign promises has skewed his view of what he needs to do?  Maybe he defines success as the level of the S&P 500 so all is good in the world?  The reality is that the world is experiencing more problems than at any time in recent memory.

MENA alone deserves full and undivided attention.  We are now at war with Libya.  We have chosen to fight on behalf of the rebels - whoever they are.  We have issued a letter on behalf of Israel in response to the bombing in Jerusalem yesterday.  I'm not sure what group that is willing to bomb innocent people is going to be particularly intimidated by a letter, but guess someone felt that made sense.  Somehow we seem to be able to avoid Bahrain, no war, no letters, just a little wink-wink that its different there.  Yemen?  I think everyone is still trying to find it on a map and any reason we should care.  To me, it seems that we are reacting and are not proactive, and our policy is at best unclear across the region, and at worst hypocritical. 

Then there is our own economic situation.  In spite of QE2, tax cuts, etc., the data is starting to show signs that the spurt in growth is over.  Housing remains a mess.  Jobs aren't getting worse, but do not seem to be matching the expectations that were hyped late last year.  Inflation is starting to rear its ugly head.  If you believe CPI is an accurate reflection of what the average person spends money on, then we have no inflation.  If you believe the average person is having to spend more for less, then there is inflation.  If you believe company after company that is warning of margin pressure, then there is inflation.  CPI seriously misrepresents inflation.  It is accurate in what it calculates, but its basket of goods, does not reflect what we spend money on.  Housing is way too big of a portion, and basics are too little.  They also seem quick to give benefits to improvements in products (cars and tech) but slow on the other side (have you noticed restaurant portions getting much smaller).  The situation in Wisconsin seems relatively small, and at times almost comical, yet its real.  It might be the first of many attempts to cut back on expenditures.  That has to be done carefully as it will hurt the American consumer.  The demonstrations and rallies were peaceful and non violent, but my guess is they always start that way.  If what is going on in Wisconsin is reflective of the undercurrent of emotion in the country, the president needs to be addressing it.  This is the one thing he is supposed to be excellent at anyways!  There are rumors of an oil slick in the gulf.  Is it real?  Is it just silt?  In an era where we can know what Charlie Sheen had for breakfast before he knows what he's having, its hard to believe that 5 days later there is still very little information on this.  Is it because we just re-opened drilling in the gulf and he would look like an idiot or the puppet of the oil companies that we cannot get a quick, simple, definitive answer, to a pretty straightforward question.  In short, the domestic situation is as tricky as its been since last summer when double dip worries first flared up.  Where is he on these issues?  How long has the government been running with temporary extensions to the debt ceiling?  That doesn't seem to be a way to run the world's largest economy.  Even the optimists recognize that the debt burden is becoming worrisome and needs to be addressed.  More press conferences touting the good news, downplaying bad news, and finger pointing is just not enough.

Then we have Europe.  Its painfully clear that a number of countries borrowed too much and just cannot generate the income to repay that debt.  Various plans to hide the problems have only made them more intractable (Ireland is poster child for a bad plan to save the banks gone worse).  This is not the case of fearful investors being too scared to risk capital.  Maybe that was the case a year ago.  This is the result of diligent analysis and the realization that these countries are in unsustainable situations.  I'm not even sure what these bailouts are meant to accomplish anymore.  Who wants even wants the bailouts?   the citizens in Germany and France and America (via IMF) who are supplying the money? um, no. The citizens in the countries receiving them who will have to deal with austerity measures and where the vast majority would not be particularly harmed by default?  um, no. A few bankers and senior politicians who are too scared to let a corrective process take place?  um, now that sounds likely.  Its been like a black hole.  No country that enters bailout land has shown any ability to get out.  Countries (Iceland) that sucked it up and dealt with it are moving forward.  Where is the leadership from America on this?  Are we too scared of losses from defaults of the PIGS countries or are we scared to say too much about unsustainable debt because we don't want Germany and China giving us the 'takes one to know one' response? 

Japan is continuing to battle the aftermath of the earthquake and tsunami.  It seems clear that they are struggling with the nuclear reactors in Fukushima.  I'm not sure what we can be doing other than offering as much expertise and equipment as possible.  We should also be doing all we can to ensure accurate information is there for the public, both about the situation in Japan and the current state of nuclear affairs here.  In Japan, its either under control and getting better (in spite of irradiated water in Tokyo), or its already worse than Chernobyl, depending on who you listen to.  We run the risk of hurting our own nuclear plans by allowing fringe elements to overstate the risks.  To the extent that the situation in Japan is worse than is being presented by the media, we also risk a backlash from not being more up-front about the current status (and if the U.S. government can't get accurate information and disseminate it, who can?).         

So with real problems in Asia, the Middle East, Africa, Europe and domestically, our leader isn't in the capitol?  Hopefully the events play out well and he won't go down in history with Nero and his fiddle.  If nothing else, so far stocks are telling him he's doing a great job and the administration seems to view stocks as their key measure of success, so all is good, but I for one, am very concerned about this state of affairs.

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Conrad Murray's picture  <---Link on the right, "Find your lawmakers, tell them what you think"

chumbawamba's picture

I'm going to put up a website with a list of links that, instead of allowing you to contact your so-called representative it shoots a .50 caliber bullet at their office.  Enough presses of the button and eventually one of them will hit their target.  I just need some assistance in mounting the rifle from a high vantage point in DC.  Perhaps the Washington memorial?

Translation: please stop suggesting we go to websites to "tell our lawmakers what we think".  Can you suggest something even more useless and time-wasting, please?  I don't think I'm annoyed enough.

I am Chumbawamba.

BigJim's picture

Am I the only person who finds it ironic that a broadly anti-government website is posting an article calling for our beloved POTUS to engage in our lives more?

It seems to me that the longer O'Scama, Congressmen and Senators spend off the job, the better it will be for the rest of us.

piceridu's picture

+ we need a Belgium type non gov

object_orient's picture

Maybe the catchy title was a sticking point, and the article was deformed because of it. Complaining about idle presidents is fun (extended Bush vacations in Crawford, anyone?), but the implication that they should be working more cannot be avoided.

johnQpublic's picture



but i just watched an unbelievable commercial that i actually had to un-mute the tv for

you can now have ADT security mount a camera inside your home to have them monitor whats going on inside your house for your 'peace of mind and security'

NidStyles's picture

So when I get the urge to walk around nude they can see me in all of my glory? Sound's like a deal for me.

velobabe's picture

i can only do visual combat, chumba. i never learned how to fire a gun nor shot at a target. i lived under my cinderella laws. i will have a man do this for me. fck man, he is worthless. cowards, great whitey is a niggar.

Conrad Murray's picture

Nah, I'd rather get you internet tough guys all riled up.

Djirk's picture

Best article on this site I have read in a while.

"A few bankers and senior politicians who are too scared to let a corrective process take place?"     says it all....we need a managed cleansing or it will be a catastrophic. Or a looooooonnnng painful time of real growth stagnation.


greased up deaf guy's picture

interesting.  that was the one question that got me wound up because it didn't say enough.  the bankers aren't scared at all.  yes, they have the most to lose because they lent money they didn't have and they stand to lose it all if free market forces were allowed to commence without government bailouts.  the fact is they have the politicians "scared", but more importantly, they have them in their collective pocket.

Cindy_Dies_In_The_End's picture

TYLER--you promised you would delete comments like Chumba's. I mean, REALLY people, come on!

Chumba--you know better than this. Like you don't have enough problems already!

baby_BLYTHE's picture

The very reason ZH has gained immense popularity over the past few years, is the very same thing you are advocating Tyler to remove.

Free speech! Let them all speak! We have a junk button for those that take offense.

Welcome to Fight Club

greyghost's picture

daddy was a marxist....mommy was a marxist..... granddaddy was a marxist.....grandmommy was a marxist....obama is a ?????????

Careless Whisper's picture

he cut his vacation short without asking permission from the u.n., isn't that an impeachable offense?


Arch Duke Ferdinand's picture

""he cut his vacation short without asking permission from the u.n., isn't that an impeachable offense?""

Speaking of impeachable offenses

Emporer Nero/President Obama...


Wrong Side Up....OT comedy ...2 min vid...

Crassus's picture

Absolutely. By all tests a neocon.

divide_by_zero's picture

From his crappy books you can glean that he considers himself a post-colonial revolutionary Marxist, which puts him even to the left of true neocons. True to his roots, he apparently likes wars just as much.

Thorny Xi's picture

"Look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you." Warren Buffet.  Obama's what a lot of my younger friends call a "divorce kid."  Deferential to authority but often passive aggressive, goes along to get along, looks out for number one but pragmatic, using the shades of gray to avoid black or white decisions.

Anyone can grow up to be this way, but America's raised two generations of them now... he's their president. 

sunkeye's picture

@thornyxi  t/y for this ... interesting ... 

BigJim's picture

daddy was a marxist....mommy was a marxist..... granddaddy was a marxist.....grandmommy was a marxist....obama is a ?????????

...puppet who does whatever he's told?

D.M.'s picture

Guys leave obama alone. Im sure him and the Bernank are discussing (via facetime on his new iPad 2) how to fix this mess.

eddiebe's picture

I don't think he's talking to the Bernank, they probably despise each other. No, Obama playing golf in S. America just gives me further proof that Obama is just another figure head dancing to the music written by composers that were of the same ilk as those composing Nero's ditty.

 If Obama had anything to say or do about anything, he'd be far more engaged with what's going on. Why shouldn't he go play golf or whatever else? He has nothing to do with government, other than being a lightning rod. How sad, and how sad to know that so  many good folks still believe the whole 'change you can believe in' bullshit.

 No, those of you who haven't figured out the scam yet: We got fooled again! How many more times will you go to the polls thinking this time your man will come through for you??? Hahahahaha

Blano's picture

Ne(g)ro fiddles while Rome burns.

lynnybee's picture


Who is OBAMA ?   I'll tell you who he is !   He's a damn C.I.A. guy & his mother & father were C.I.A. assets !   That's who he is !    He's an agent of JPMORGANCHASE & JAMIE DIMON is his boss !    We are being taken over by damn bankers !   ........ calling for revolution, please !   I can't do this alone !  .......... the other night at dinner I said these same things to my dinner companions & they rolled in the aisle with laughter at me !    I sat at the dinner table stunned by the stupidity.    ....... unless someone out there in ZEROHEDGE LAND would like to set me straight ..... I'm glad for the education.

baby_BLYTHE's picture

I am actually starting to believe this conspiracy...

Want to know why Turbo-Timmy was hired and never fired?

His father, Peter F. Geithner, was the director of the Asia program at the Ford Foundation in New York in the 1990s. During the early 1980s, Peter Geithner oversaw the Ford Foundation's microfinance programs in Indonesia being developed by Ann Dunham Soetoro, President Barack Obama's mother, and they met in person at least once.

So yes, Barry Soetoro is his real name. He is at the very least a Dual-Citizen, which I believe he was only able to acquire based upon CIA/Intergovernmental ops he and his mother did for the Government.

Bicycle Repairman's picture

"microfinance programs in Indonesia"


pods's picture

Lynny, best way you can do that is to refuse to go into debt for anything.  Do not buy anything on credit.  That is the lifeblood of the banks.  And when you refuse to go into debt, you will accelerate the natural end of any fiat system that issues credit at interest.

Best thing you can do, and it will not put you on any list!


Arthor Bearing's picture

I would rather have the 100-year decomposed corpse of Teddy Roosevelt as my president

jus_lite_reading's picture

Markets up. Obamie did his (blow)job.

Pants McPants's picture

Um, not me.

TR for Obama is merely switching one imperialist for another.

Ident 7777 economy's picture

Respect for America notwithstanding ...

docj's picture

Just let the man eat his waffles, OK?

The Axe's picture

My father use to say" take care of you and your own" fuck Obama!!

Gene Parmesan's picture

Obama says we have to take care of ourselves, our own, and the half of the population that isn't paying taxes. And the Libyan rebels. And the Brazillian oil companies.

Infinite QE's picture

Without doubt or question, the worst President in American history.