Jenn Rubin brings to my attention a curious comment by Barack Obama.
What I’m looking at is not the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing. And, you know, the stock market is sort of like a tracking poll in politics. You know, it bobs up and down day to day. And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.
The problem, of course, is that Barack Obama is right. The Dow Jones is kind of like a tracking poll. And the trend downward is a vote of no confidence in Barack Obama’s economic proposals.
So many in the media are still harping on the “hoping Obama will fail” remark that they totally miss the point.
Yes, Barack Obama says his economic stimulus plan will stimulate the economy.
No, Barack Obama’s economic stimulus will not actually help the situation, but will make it worse. Even the Congressional Budget Office agrees.
So we must root for Obama to fail at implementing his agenda. Because if he is successful, the economic situation will only grow worse.
We have plenty of history to prove the point.
In the process, though, Obama is happy to enact policies that spook investors and crush the stock market because as he enacts policies to wipe out American wealth, the baby boomers just getting to retirement age will become more and more dependent on Barack Obama. That will cascade through the system until we’re all, by hook, crook, or necessity, on the government teet.
We must work to undermine Barack Obama’s efforts and his callous indifference to American investors, who are all of us in one way or another.
Steve Maley
Moe Lane
Dan McLaughlin
Neil Stevens
"Up and Down?" - where's the UP?
JLenardDetroit (Diary) Tuesday, March 3rd at 4:08PM EST (link)As Cavuto or Varney said…. It’s basically all DOWN…. Ignoring that is just moronic.
Regards from NoMoTown (the MOTORlessCITY)
“Liberals, looking to do for? America what they’ve done for? Detroit! which is DESTROY IT!”
“I think, therefore I am Conservative”
“Conservative by choice, Republican by necessity”
“You can lead a Liberal to the Truth/Facts, but you cannot make them THINK!”
“Romney [No, not my first choice] does NOT have a MORMON problem. He has a, far too many Americans; these days; are MORONS problem!”
Follow @JLenardDetroit
(RS:Help) (JLD) (Hollyweird) (Brain-deads) (SPIN-cycle) (Obamaocare) (Party of kNOw) (Conservatism) (TEApeats) (respectful) (message) (Warning: Children Will Die!!)
Heil “O” Hell No Obamao is NOT MY PRESIDENT! “No U won’t”
I want “O” to FAIL (here, here, & whole Diary (Ofail) here, is why)
“The first Liberal was Satan” – a Rush caller (other Quotes)
A strong middle class
loewenbrau (Diary) Tuesday, March 3rd at 4:09PM EST (link)does not fit into the plan of someone wanting total control over our lives. The investor class is in large, part the middle class.
Obama's damage control holds no water
scottbomb (Diary) Tuesday, March 3rd at 4:15PM EST (link)“…it bobs up and down day to day.”
This is true, under normal market conditions. But the stock market has been on a downward slide ever since you were elected. If your so-called “stimulus” was actually good for the economy, the market wouldn’t been tanking on a weekly basis.
We’re not buying it, Barry. Even your own voters are beginning to question your ability to lead (something they should have done before they voted for “hope” and “change”).
www.HowObamaGotElected.com
“The American people will never knowingly adopt socialism. But, under the name of ‘liberalism’, they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened.” – Norman Thomas, U.S. Socialist Party presidential candidate 1940, 1944 and 1948
Markets are forward looking
GT350 Tuesday, March 3rd at 4:31PM EST (link)Obama apologists keep saying “it took us 8 years to get to this point, we can’t fix it in just a few weeks.” That is missing the point.
Markets are forward looking. They bake in and discount all known information. Markets react to “new news” as it becomes known.
Stocks have dropped like rocks since Obama became president (or won the election), particularly after key speeches and key economic plans became available. That is because investors look at this new information, realize it is bad for growth, bad for earnings, and they dump stocks accordingly.
I know (and work with) some very large institutional investors. There is no investor optimism. Lots of these people voted for Obama on the “hope and change” promises. They are only understanding now that Obama is not a moderate, pro-growth democrat in the Clinton mold. He is an anti-growth, anti-business, confiscatory liberal in the Jimmy Carter mold.
Exactly....
jcheney Tuesday, March 3rd at 6:12PM EST (link)…..GT350, the market looks to the future, and it is tanking because they don’t have much confidence in the future.
First Obama said: ‘We aren’t going to worry about the deficit right now.’
Now he says the Stock Market doesn’t matter on a day to day basis either.
This is the guy who is spending our tax dollars?
Market doesn't matter
GT350 Tuesday, March 3rd at 6:27PM EST (link)Agreed.
Stock Mkt “doesn’t matter” on a day to day basis, just like opinion polls.
–But when there’s a consistent week-to-week downward trend in those “polls”
–And when people’s retirements, hopes, dreams are tied up in those “polls”
–And when those people are ultimately the ones you answer to….
Yeah, you better believe someone should be paying attention.
And when projects don't get funded because of a lack of confidence
6eorge Jetson (Diary) Tuesday, March 3rd at 6:30PM EST (link)then it matters.
People who understand economics move the stock market
Vegas_Rick (Diary) Tuesday, March 3rd at 4:32PM EST (link)They have no political agenda. They worship at the altar of profits. When they’re getting out like they have been since November 4th, they’re telling the rest of us what they think about Obama’s economic policies.
I know, profits are evil. But without profits, there is no capitalism.
“God is great, beer is good and people are crazy.”- Billy Currington
“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan ‘press on’ has solved and always will solve the problems of the human race.” Calvin Coolidge.
You think that concerns Barry in the least?
Bill S (Diary) Tuesday, March 3rd at 4:34PM EST (link)“without profits, there is no capitalism”
That’s his mission, dude. That’s a GOOD THING for the Marxist-in-Chief.
“It’s such a fine line between stupid, and clever.” – David St. Hubbins
How long
10ksnooker (Diary) Tuesday, March 3rd at 4:58PM EST (link)Before the Obamaloons recognize their 401Ks are also going down? And for no reason other than how they voted.
This is beging to look more and more like a contrived downturn.
And Obama wants to implement the Hugo Chavez final solution.
Callous indifference = Democrats don't care about the poor - nt
Mike gamecock DeVine (Diary) Tuesday, March 3rd at 6:01PM EST (link)Mike DeVine’s Examiner.com, Charlotte Observer and The Minority Report columns
“One man with courage makes a majority.” – Andrew Jackson