Charles Payne

"And it was the din of all these hollow-sounding voices that made him halt irresolutely in the pursuit of phantoms. He gave them ear only for a time but he was happy only when he was far from them, beyond their call, alone or in the company of phantasmal comrades."

James Joyce: A Portrait of the Artist as a Young Man

In the game of life, those in the public eye of judgment have found it necessary to affect outcomes by establishing expectations. In that position, it doesn't take long to figure out that the success is not measured by actual results or output, but output versus expectations. Some call it a game and those aren't even the cynics. Unfortunately, this game seems to work when it comes to things like measuring our elected leaders, and judging the stock market and economy.

So, we have to come to expect the worst example of sandbagging on economic goals and achievements from the people we elect. We buy broad promises that offer little detail and more recently it's been good enough to say hope and change would make life better.

How does one measure hope and change? How does the public penalize the politician that comes up short of an unspecified goal or promise?

GDP First 5 Years

Reagan

Obama

Year 1

+2.6

-2.8

Year 2

-1.9

+2.5

Year 3

+4.6

+1.8

Year 4

+7.3

+2.8

Year 5

+4.3

+1.9

Average

+3.4

+1.2


Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.
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