One of these measures is the confidence interval of the American people. In both the Rasmussen poll and this real time February report from the University of Michigan (see charts), “no drama” Obama is starting to see a nasty breakdown. After seeing a nice lift out of its November hole, this confidence report of 56.2 versus the 61.2 we saw a few weeks ago has rolled over, hard.
If Obama gets a NO confidence vote from a world stage that blessed him with some of the highest approval rating ever, eventually it will catch up to the US Dollar. US Dollar weakness will beget strength in the US stock market. This is a perverse relationship, but at least it’s Darwinian.
Keith R. McCullough
CEO & Chief Investment Officer