Stock Market Carnage: The Smurfs 1, Obama 0

29 July 2011 is a date that will live in financial infamy as the Smurfs rung the bell opening that day's trading session at the New York Stock Exchange (appropriate music too, IMHO). Trading ended down like many days before and after it as the putridity of America's economic prospects have become more and more evident. QE3 anyone? As if QE1 and QE2 tomfoolery had any lasting positive effects. Today the Dow Jones Industrial Average closed down 600+ points. I guess that's no surprise after the S&P downgrade on Friday following the ludicrous debt ceiling fiasco dented any confidence in America's prospects going forward. Having grown up watching the Smurfs, I definitely will see the new movie featuring live action/animation. Despite the disturbingly huge Smurfs ringing the NYSE bell to commemorate the launch of the movie, let's just say stocks have been ground really, really small. Needless to say, many are blue.



But auguring financial pandemonium aside, don't forget that the Smurfs have been through worse. Remember the controversial UNICEF spot in which they were firebombed. I believe the spot asks support for those displaced by conflicts around the world. Helicopter pilot Ben Bernanke would do a splendid Gargamel.



Contrast the prescient Smurfs with the hapless Barack Obama. Instead of assuring anyone that America remained a solid proposition, all he managed to do was accelerate the sell-off by going live to...I do not know what. After making the ludicrous statement that "this is the United States of America. No matter what some agency says, we will always be a triple A country," the sell-off accelerated.



Judging by the evidence, I guess more folks believe their investments are going to be made small and rather blue by Stupid America Fiscal Tricks than Obama's tragicomic bloviating about American exceptionalism. While most of the world's major bourses fell precipitously on Monday, none fell more than that where the Smurfs made an earlier appearance. Coincidence? I think not.



The "new normal" may be recessionary conditions: how's that thought for you, America #1 cheerleaders?