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.
"Carney added that there's really no such thing as a presidential vacation since Obama will travel with his aides, receive regular briefings on national security and the economy and be able to return to Washington if necessary. "The presidency travels with you. He will be in constant communication," Carney said at the White House briefing. Last August, the president, Michelle Obama and their two daughters spent 10 days at a rented farm on the wealthy island retreat in Massachusetts.
Our advice: buy ELY stock: with the market about to implode, the president is sure to make at least one company's year.