While we've been playing over the long weekend (or fighting wildfires), the rest of the world has been witnessing a substantial drop in the financial markets in Europe and now in Asia. Is this another "perfect storm"?
European exchanges opened mixed Tuesday, with neither large gains or losses, following a dramatic sell-off on Monday that pushed major indexes down more than 5 percent.
Asian exchanges fell Tuesday, some by more than two percent. Japan’s Nikkei closed at its lowest point since April 2009 — falling 2.2 percent, to a level unseen since the previous global economic downturn. Other major Asian markets also sustained losses, with South Korea’s KOSPI dropping 1.1 percent and Australia’s S&P/ASX 200 losing 1.5 percent.
U.S. markets tumbled Friday, but were closed Monday for Labor Day. ...WaPo
The general malaise added to August's zero employment gains and is reflected in the now 60% disapproval of Obama, unfair though that is in reality. It's as well to remember that Reagan, Clinton, and Bush had the same problem. Bush's low ratings never improved.
And it's not as though Obama has been alone in purgatory. Congressional Republicans have passed purgatory. They're now in the dark, hot place well below.
Obama does, however, rate better than do congressional Republicans, his adversaries in recent, fierce confrontations on federal spending. Just 28 percent approve of the way Republicans in Congress are doing their job, and 68 percent disapprove, the worst spread for the GOP since summer 2008.
When it comes to head-to-head match-ups on big economic issues, the public is deeply — and evenly — divided between Obama and congressional Republicans. Four in 10 side with both Obama and the GOP on jobs. There are similarly even splits on the economy generally and on the deficit. In all three areas, the percentages of Americans trusting “neither” are at new highs.
The Washington Post/ABC poll doesn't give Obama much of a chance. He effectively has no chances left.
... Current trends are highly unfavorable for the president. By 2 to 1, more Americans now say the administration’s economic policies are making the economy worse rather than better. The number who say those policies have helped has been chopped in half since the start of the year. The percentage of Americans disapproving of how Obama is doing when it comes to creating jobs spiked 10 percentage points higher since July. ...WaPo
The hard numbers are here.