President Barack Obama said last night that, ‘nobody messes with Joe.’  He was referring to his Vice President Joe Biden, who will be responsible for oversight responsibility in the latest government bailouts of financial institutions.  But it sure looked otherwise as he was trying to keep up with Speaker of the House Nancy Pelosi, who must have been working out since the New Year on leg push-ups, because she not only left Joe at the gate with her Jack-in-the box pop-ups of applause, she often started the cheering before Obama delivered the empty-suit punch line.

Joe was so delayed in his stand-up applause in comparison to the Speaker of the House, he probably should consult with his Doctor for some reflex tests before heading to the White House physical fitnes room for a session of leg push-ups.

If I knew how often Pelosi was going to be jumping up and down over Obama’s left shoulder, I would have kept count. All I could see was a helmet-like sprayed frozen hair style accompanied by a frozen smile, which must have been tattooed on her face the way they do eyebrows these days, accompanied by a pea-soup green outfit that made me want to ask someone to pass the croutons.

Why is it that these presidential addresses come off as such circus spectacles, especially when we are dealing with dire issues such as a recession possibly leading to a depression?

Senior members of the House; treat a rookie President as some in our society might swoon over Elvis Presley in his heyday,  Marylyn Monroe in hers or Angelina Jolie and Brad Pitt in theirs.

House members storm to the isles of the house for a photo op or press the flesh and then they do the same after the speech, seeking out autographs and having to tell President Obama how to spell their names as he pens the evening’s program.

After numerous introductions, extended applause after each and then when the rookie thought he was free and clear to open his speech and address the Speaker of the House he said ‘Madam sp. . . ” and was interrupted by Pelosi, for it is protocol that the speaker introduce the President to the House . . . and so it began.

Obama could deliver a sentence of 10 words, that didn’t make any sense whatever, to any audience and generate thunderous applause . . . especially from jack-in-the box Pelosi.

He led with Jobs and how he was going to save or re-create 3.5 million, but he didn’t give us any details — but did refer us to a website called recovery.gov, where there will be complete transparency.

Obama covered the credit crisis with generalities, lambasted the CEO’s for their bonuses and lavish spending . . . but void of details as to how we are going to return credit to the marketplace.  He did note that,”the cost of action will be great, but cost of inaction will be greater.”

Obama did say on a few occasions  that he inherited, inherited, inherited the situation he was in from the Bush Administration.  The day will soon come when this line will no longer be accepted by the people.

He spoke of Buying American, but tried to walk the fine line of not being too protective because we live in a global world.  Yet he noted that the automobile was invented in America and we should keep it here by buying cars, trucks built here in America.  Nevertheless, the majority of the committee he has named to oversee the auto industry bailout drives imports.

He called for health care reform this year.  He said health care costs cause a bankruptcy every 5 seconds.

We got more generalities on education and promises that if students give to their country, they will be guaranteed a college education.

Tax breaks will be eliminated for 2 % of the wealthy.  No increase in taxes for those making up to $250,000.  Oh and the checks are in the mail for 95% of families.

He glossed over Medicare and Social Security, again without specifics.

He noted that we have been a nation at war for the past 7 years, and that he will be withdrawing from Iraq, although he has sent 17,000 troops into Afghanistan.

The speech was but a re-write of what we heard on his campaign stump, lacking details.

This was the way Wall Street saw it today, down at the opening nearly 200 points, but began to rally toward the end of the day but was still down as of this writing.  Substance is what the street is looking for as well as the people.  Until we have this confidence will continue to wane.