The New York State Manufacturing Index hit a new record low on Tuesday with a reading of -34.7 versus an estimate of -22.2. One more sign of a quickly declining and contracting economy.
The markets had no reaction to the signing of the stimulus bill with the S&P dropping 4.6% and the NASDQ dropping 4.3%. While this represents investors voting with their feet, hopefully we will soon be getting near a low and hopefully this much derided package will have some impact.
The truth is that having real confidence in the bill having an effect would be better than the praying strategy, but at this point we have little other choice. This brings us to the topic of the day, plausible deniability.
What Is Plausible Deniability?
"The term plausible deniability was introduced into the English language in 1975 when the Church Committee, a US Senate committee, conducted an investigation into the intelligence agencies.
Plausible deniability has been honed since in government and private enterprise, into an art form. We all do it, at home with the kids, at work, with our mates from our club and sometimes sadly, with ourselves.
The problem for me is that plausible deniability is a phrase that equates to lack of accountability." (ChangeFactory.com)
What Can Plausible Deniability Possibly To Do With The Obama Administration?
I have been writing blog articles about the economy, foreign affairs, the financial crisis, the Obama administration performance, etc. for some time now, and the responses that I get from Democrats tend to fall out along the same lines. I am going to list the most common, and I would love to get feedback on others that you have heard that might be different.
The point I am making is that plausible deniability pervades most of them. It is not so much about where we are going forward, but where we have been and why the task is so hard. President Obama knew that the task would be hard since before the first day he officially started campaigning. What's done is done. Were mistakes made? Could things have been done better? Could situations been handled earlier with more urgency? Of course, but the blame is not on one man but is absolutely bi-partisan.
Looking forward I want to know what is going to be done. Positive thinking forward statements and not the blame game and some serious name calling. Pointing fingers is easy. Facing the problem with solutions is hard. Everybody wants a scapegoat. You want a scapegoat? How about all of these clowns that represent us in Washington, Democrat and Republican.
Please Send In Your Favorite Statements That Attempt to Deflect Responsibility From The New Administration And Merely Point Fingers Someplace Else
The blanks can be filled in with any number of words or phrases that I have seen
- Obama has only been in office ___ days. How did those last eight years treat you?
- Why don't you have Rush Limbaugh, that ______ and _______ run things!
- That _____ Bush got us into this hole, it will take time for Obama to get us out.
- How do you think McCain would be doing?
Let me know any others that you have seen. The past is past. Look forward.
For those wondering what the picture has to do with plausible deniability, think about it.