Economic savior: Eh, I don’t worry about the market’s “day to day gyrations”

posted at 4:42 pm on March 3, 2009 by Allahpundit

Audacity indeed: Have a look at the Journal’s analysis of the Dow’s performance lately, especially over the last month as we got a good, hard dose of economic Hopenchange, and then bookmark this post in your “Imagine if President McCain had said it” folder. Obama actually had the stones to refer to this as “fits and starts.” Hey, champ? We’ve got the “fits” covered, including another 37-point downward gyration this afternoon. When do the “starts” start?

Be sure to watch until at least 1:50, when he talks about current P/E ratios making stocks a good long-term buy, then read this Megan McArdle post. Tain’t so.


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What a genius. /s

Alana on March 3, 2009 at 6:55 PM

I can’t tell you how offensive his attitude is- It’s almost like he thinks it’s funny.

Offensive – and arrogant, to the point of being smarmy. He is in SO far over his head, and it simply doesn’t matter to him, because at the end of the day, he figures he “won”, and therefore nobody can question either his methods or his motives. He and Michelle are entertaining their a@@es off, running off to Chicago for a “long weekend”, zipping around in Air Force One like a couple of demented Fuller brush salesmen, trying to convince us that he really does know what’s best for us. Bullsh!t. In the meantime, people are losing their life savings. People who have been employed at the same small businesses for thirty plus years are being laid off – because those small businesses make products that people can’t afford anymore, because they have to worry about THEIR next paycheck.
This guy is nothing more than a Chicago con man. And an idiot.

uncivilized on March 3, 2009 at 6:56 PM

He said he is “absolutely confident” that those things will happen. But the president also said it will take time for the mistakes of the past to work their way through the system.

Yep, and seeing how the biggest mistakes were made in the last two months, we have a long way to go.

Fighton03 on March 3, 2009 at 6:57 PM

President Obama is trying to clean up the mess your former elected leaders made.

I assume this individual is referring, of course, to Bill Clinton. Unless he thinks Andrew Cuomo was a Republican HUD secretary prior to 2000.

I know it’s convenient to pretend one’s political enemies are responsible for all problems that occur when they are in office, but things actually happen for reasons, and if you do your research it’s not hard to track the sub-prime debacle back to its prime movers.

Blacklake on March 3, 2009 at 7:01 PM

Seriously, what are our options re Obama Contitutionally?

onlineanalyst on March 3, 2009 at 6:53 PM

two

1) have the GOP take the house and drag him to sense or impeach him

2) exert such political force upon the democrats after the disaster accelerates that they impeach him….

ie not great ones.

sven10077 on March 3, 2009 at 7:02 PM

Did this man really just compare the stock market to a “tracking poll” that is “bobbing up and down”? It is, in fact, sinking like a stone, primarily because his administration has demonstrated no understanding whatsoever of basic economics.

Beatnik Joe on March 3, 2009 at 7:03 PM

Seriously, what are our options re Obama Contitutionally?

onlineanalyst on March 3, 2009 at 6:53 PM

There’s always the 2nd amendment, but I doubt it effectively affords the kind of options it did back in 18th century. I don’t see how a coordinated revolutionary movement could even be started, let alone succeed.

Blacklake on March 3, 2009 at 7:09 PM

Did this man really just compare the stock market to a “tracking poll” that is “bobbing up and down”?

Quiet, heathen: the Messiah speaketh in tongues…

karl9000 on March 3, 2009 at 7:09 PM

Yes it bobs:
Barack Obama Bull Sh–

Wade on March 3, 2009 at 7:12 PM

The One is an economic idiot…but then, the economy is only a means to and end for him.

GarandFan on March 3, 2009 at 7:14 PM

You know, like when you drop a rock. It, like, bobs up and down.

whitetop on March 3, 2009 at 7:15 PM

Read between the lines

obamas says
im an idiot so dont expect the stock market to ever recover while i am in power because i am a moron who doents know what the hell i am doing..

hey obama try shutting up your big stupid mouth

jcila on March 3, 2009 at 7:23 PM

Day to day train wreck engineered by team “O” is
going to bite his Kenyan butt before long.

Texyank on March 3, 2009 at 7:23 PM

Seriously, what are our options re Obama Contitutionally?

onlineanalyst on March 3, 2009 at 6:53 PM

Simple, get the origional interpretation of “Natural Born Citizen” into court…

Founding Father’s definition was born on American Soil, AND of an American Father. They did this to ensure no split loyalties from dual citizenship.

Obama’s father was a British Citizen at this birth, therfore, by the origional Founder’s intent, is not qualified to be President.

Supremes punted on this question during the election… but if there is enough public pressure, they will have to answer it one way or the other.

Romeo13 on March 3, 2009 at 7:25 PM

He’s making it up as we go along. Good thing the Republic is foundationally strong or we’d be in mucho trouble-o

SouthernGent on March 3, 2009 at 7:27 PM

If you haven’t already done so, gp to WND and sign the petition.305 thousand have done so, what are you waiting for?

larvcom on March 3, 2009 at 7:30 PM

Typical Obama: If I don’t understand it then it’s just a distraction from my path towards greatness.

Socratease on March 3, 2009 at 7:31 PM

I think the comparison to Emperor Nero is the best and closest.

larvcom on March 3, 2009 at 7:34 PM

Yeah, cuz its not like it is his job or anything. A job he spent boatloads of foreign cash to obtain.

I would love to have a grown adult be POTUS again.

SimplyKimberly on March 3, 2009 at 7:36 PM

I think the comparison to Emperor Nero is the best and closest.

larvcom on March 3, 2009 at 7:34 PM

I think that the north end of a southbound horse is more accurate.

thomasaur on March 3, 2009 at 7:50 PM

No that was definitely James Earl Carter. Nero let Rome burn, probably started it and let it burn so he could reshape it.

larvcom on March 3, 2009 at 7:53 PM

The reason Jesus H. Obama has that smiley smirk on his face is because he knows, no matter how bad a president he is, no matter how profoundly his policies destroy the economy and the nation, he will never be held accountable for his failures by the national media. He’s got a permanent pass and he knows it.

Django on March 3, 2009 at 7:55 PM

Chicago Machine Democrat. This election we got bamboozled by the left wing media who sold a lot of Americans a bag of sh#t and they fell for it. We are stuck with this idiot for at least 2 years, that is if the GOP can get it’s collective head out its a$$ and get a solid fiscal plan together and a leader who can present it to the public (anyone seen Newt?). CNBC has suddenly turned into the epicenter of the anti-obama movement. I’m depressed, my pension plan is in the tank as well as my wife’s 401(k). So much for retirement. Thanks to my fellow Americans who didn’t do thier homework before going to the polls.

ChicagoBlues on March 3, 2009 at 8:13 PM

I can’t tell you how offensive his attitude is–It’s almost like he thinks it’s funny.

Exactly. And Gibbs smirked all the way through his answer on Cramer today and giggled with another reporter like a teenage boy being reprimanded by a teacher.

PattyJ on March 3, 2009 at 8:30 PM

I am beyond pissed off about this. We’ve lost over a quarter of our TSP account (a military 401K), most of it in the last few months. We’re not rich, my husband is a 8-year E-6 with 4 dependants… I don’t even think we qualify as lower middle class on his one income. I’m tired of watching the market tank every time that man opens his mouth, I’m tired of worrying about what’s going to happen tomorrow – and I don’t have the energy to worry about what’s in store for our long-term future.

I don’t like to hate, because I feel it does no good and is only negative energy… but I hate Obama. And those that voted for him, if this crap keeps up, I may end up hating them too. Including my husband’s mother, who switched parties just because McCain seemed “too old.”

I think I just felt another hair go grey.

Anna on March 3, 2009 at 8:35 PM

Profit and Earnings Ratio=Quayle’s “Potatoe” moment but nary a snicker.

The new Wizard of Wall street has developed a new technique for evaluating equities in his new economy. I’m guessing this new approach leaves many securities trading around a 1/1 or 1…or perhaps less, depending on how the various tax multipliers are now applied to the numerator and denominator.

Does anyone know if a PE ratio of 1 is a good buy or is there still room for a decline in this new economy?

moxie_neanderthal on March 3, 2009 at 8:40 PM

Duhhh, I forgot. Of course if this is forward looking earnings it will of course be a Profit Earnings (P/E) Ratio of less than 1 .

moxie_neanderthal on March 3, 2009 at 8:43 PM

It does that in a depression.

getalife on March 3, 2009 at 8:43 PM

Since all indicators are that Obama is a Gramscian Marxist following the Cloward-Pivens path, may we all join in singing “When the Reds’ Red Robbings Go Bob-Bob-Bobbing Along”?

onlineanalyst on March 3, 2009 at 8:49 PM

Maybe it really has to get this bad before the fools who elected him finally wake up & we return to the principles that made this country great.

That is, if there is anything left to salvage- after he is finished with his efforts to destroy what it took over 200 years to build and many wars to preserve.

God help us.

kg598301 on March 3, 2009 at 8:54 PM

“day to day gyrations”

Why worry about gyrations in the economic engine of the world?

It’s Like The Hula! It’s Fun! Give us a smile now, Barky.

Teddy on March 3, 2009 at 8:56 PM

Are Cloward & Pivens officially part of the White House Council of Economic Advisors or is Christina Romer just running plays out of their play book?

moxie_neanderthal on March 3, 2009 at 9:01 PM

PeBo has no experience as an economist or in business. Yet he thinks he can direct this obscenely massive “recovery” program to a successful conclusion. Sometimes I think he wants the economy destroyed. It will be easier for him to institute the rest of his socialist/fascist vision under the guise of “emergency measures.”

BTW, the dude looks like he has aged two to three years already in less than two months in office.

Mallard T. Drake on March 3, 2009 at 9:07 PM

Please could the Tea Parties take up residence at George Soros’s offices. With the most graphic of signs. Please Please Please

George Soros and the Arabs are laughing their socks off at the stupid Americans that bought this purple lipped twit.

nondhimmie on March 3, 2009 at 9:08 PM

UPS AND FREAKING DOWNS??? This guy is dumber than a sack of dog poo.

I’m sure what i’m about to say has been said in this thread already, but there has been a nosedive ever since jug ears locked up the election.

I suppose that they didn’t teach him simple linear regression or “Fitting the line to the slope” in his Law School. .. You know, the stuff they teach 5th graders…

I suppose that those jug hears hanging from his head are cutting off the flow of blood to his brain. Seems like every time he or the tax cheat (oops forgot to mention WHICH tax cheat.. I’m referring to Gaithner this time) .. Anyway, ever time one of the bozo brigade opens their mouths, the dow drops another 200 points.

You have to wonder. I can’t believe anyone would be so stupid or perhaps arrogantly stupid or stupidly arrogant to not realize the damage he is causing. If I were a tinfoil hat type of person, I’d begin to wonder if he isnt’ deliberatly tanking the system. Something like THe Longest Yard, only he isn’t the good guy.

Maybe we should just pick one of the freaking Gitmo prisoners at random and make him president. I doubt a terrorist sworn to destroy our economy, country, religion, liberty and way of life could make things much worse than jugears.

bullseye on March 3, 2009 at 9:10 PM

BTW, the dude looks like he has aged two to three years already in less than two months in office.

Mallard T. Drake on March 3, 2009 at 9:07 PM

No kidding, in 4 years he’s gonna look like Redd Foxx. Ha ha

kg598301 on March 3, 2009 at 9:11 PM

I think the comparison to Emperor Nero is the best and closest.

larvcom on March 3, 2009 at 7:34 PM

I was going to say Marie Antoinette, except for the hair & skin color.

kg598301 on March 3, 2009 at 9:13 PM

Still unable to find anything about this new “profits & earnings ratio” he is using as a buy signal for equities. Thus far I’ve only been able to find the tierd old and discredited theories of the past which use price to earnings ratios.

Maybe this is a ratio that He has either saved or created.

moxie_neanderthal on March 3, 2009 at 9:18 PM

(1) Nothing kills capitalism quite like chasing all the capital far, far away.

(2) If only Obama’s tracking poll numbers had looked like the Dow has lately.

(3) Everyone who has criticized the president in the above comments will receive a nasty letter from Press Secretary Gibbs. Shame on you all.

cackcon on March 3, 2009 at 9:19 PM

Maybe this is a ratio that He has either saved or created.

moxie_neanderthal on March 3, 2009 at 9:18 PM

well in deference to Chicago Jesus he came up with this new theory right around the time he was engineering new vehicles that power their batteries with love….

Messiahing ain’t easy.

sven10077 on March 3, 2009 at 9:27 PM

In the reeducation camp Cramer will have a lifetime of Our Fathers Dear Leaders to say.

moxie_neanderthal on March 3, 2009 at 9:27 PM

He’s making it up as we go along. Good thing the Republic is foundationally strong or we’d be in mucho trouble-o

SouthernGent on March 3, 2009 at 7:27 PM

I think that foundation has some cracks in it.

boomer on March 3, 2009 at 9:31 PM

I think that foundation has some cracks in it.

boomer on March 3, 2009 at 9:31 PM

not if we can can get the nation over this Gaia cult they seem to have become enthralled with….the US is still fairly resource rich if we were ever willing to use it.

sven10077 on March 3, 2009 at 9:37 PM

I was going to say Marie Antoinette, except for the hair & skin color.

kg598301 on March 3, 2009 at 9:13 PM

And the boobs?

Fortunata on March 3, 2009 at 9:39 PM

On The Job Potty Training.

Obama doesn’t have a clue about the markets: “Ups and Downs”, “Fits and Starts”. Wow.

TN Mom on March 3, 2009 at 9:41 PM

When I hear bobbing up and down, I just think of the Democrat clowns in a limo with George Soros and a bag of crack.

chunderroad on March 3, 2009 at 9:47 PM

Hey, I don’t worry about the market day-by-day gyrations either- it’s the minute-by-minute downward plummet that gets me (especially when the O speaks).

Fuquay Steve on March 3, 2009 at 9:47 PM

PARTIAL LIST OF DOCUMENTS THAT BARACK OBAMA REFUSES TO RELEASE -. OBAMA’S SECRECY AND “CLOSED RECORDS” POLICY
Indonesian Passport – Not released
Application for U.S. Citizenship (as former citizen of Indonesia) – Not released
Immigration Records – Not released
Original Vault Copy Birth Certificate – Not released
Certificate of Live Birth – Counterfeit Version on Obama Web Site
Obama / Dunham Marriage License – Not released
Soetoro / Dunham Marriage License – Not released
Soetoro Adoption Records – Not Released
Fransiskus Assisi School Application – Not released
Punahou School Records – Not released
Selective Service Registration – Counterfeit version generated
Occidental College records – Not released
Columbia College Records – Not released
Columbia Thesis – Not released
Harvard College Records – Not released
Baptism Certificate – None
Medical Records – Not released
Illinois State Senate Records – Not released
Law Practice Client List – Not released
University of Chicago Scholarly Articles – None

searcher484 on March 3, 2009 at 10:20 PM

I’ve got an economic stimulus plan.

Duct-tape Obama’s mouth shut.

Should be worth about 400-500 points on the Dow, at least.

I don’t think Obama wants to stop the plunge, I don’t think it hurts his plans at all. It’s not an accident, he’s doing it on purpose, because the more damage he can do now, the less effort it will be to get what he wants, control (he thinks).

Merovign on March 3, 2009 at 10:26 PM

Profit and Earnings Ratio=Quayle’s “Potatoe” moment but nary a snicker.

moxie_neanderthal on March 3, 2009 at 8:40 PM

Heh. This is much, much worse than Quayle’s “potatoe”. At least for Quayle it wasn’t about anything important, but the fact that this Precedent doesn’t know jacksh!t about the market is downright hysterical (in a very morbid way). It also exposes that, not only doesn’t he know sh!t, but he thinks that throwing around terms that he has no concept of will convince people that he is intelligent.

In the end, it’s not surprising. I don’t think this blithering idiot ever even came close to a calculus class and I wouldn’t be surprised to find out that he can’t even handle fractions – highlighted in his inability to even recognize that he’s talking about a ratio. BHO is the dumbest person to ever occupy the Oval Office, without any question at all. The dumbest.

progressoverpeace on March 3, 2009 at 10:36 PM

Somebody bring the ban hammer down on searcher484, please.

Fortunata on March 3, 2009 at 10:43 PM

I was going to say Marie Antoinette, except for the hair & skin color.

kg598301 on March 3, 2009 at 9:13 PM

And the boobs?

Fortunata on March 3, 2009 at 9:39 PM

Oh yeh I forgot his Cabinet- thanks!

kg598301 on March 3, 2009 at 10:51 PM

In the end, it’s not surprising. I don’t think this blithering idiot ever even came close to a calculus class and I wouldn’t be surprised to find out that he can’t even handle fractions – highlighted in his inability to even recognize that he’s talking about a ratio. BHO is the dumbest person to ever occupy the Oval Office, without any question at all. The dumbest.

progressoverpeace on March 3, 2009 at 10:36 PM

I guess if we ever got to look at his college records we’d find that he was probably too busy taking important classes like Advanced feminist tri-racial gender studies of androgynous trans gendered verticallly challenged individuals -or- mutliculturalistic non european same sex environmental studies focusing on the containment of corporate rape of the environment and mother Giaa Taking important classes like that would mean that he wouldn’t have any time for mundane classes such as non marxist economics, finance or accounting 101.

bullseye on March 3, 2009 at 10:58 PM

Bobbing up and down?

I think he was picturing Monica Lewinski and not the current Market.

But Obumbles isn’t concerned about details or accuracy or such.

Smile, talk down the economy, and know you are securing fat contracts and cushy deals for political pals.

Obama’s day to day gyrations undermine the nation.

profitsbeard on March 3, 2009 at 11:59 PM

So obama is saying….I don’t follow the market, but listen up as I tell America to go out and buy some stock.

hawkdriver on March 3, 2009 at 11:59 PM

Short the presidency and go long precious metals, ammo, canned goods, H2O and waders for all the coming bs.

moxie_neanderthal on March 4, 2009 at 12:08 AM

But Obumbles isn’t concerned about details or accuracy or such.

Smile, talk down the economy, and know you are securing fat contracts and cushy deals for political pals.

Obama’s day to day gyrations undermine the nation.

profitsbeard on March 3, 2009 at 11:59 PM

It’s not what he says, the words mean nothing. Obama uses words like a painter uses color — to set a mood and/or stir an emotion. The words themselves are meaningless, if the listeners leave with the impression and feelings The One intended to convey, then he was successful. By the time he leaves the stage, he will have forgotten what was said, that wasn’t the intent. Just as a painter will forget his last work while formulating the next work, what he said is also forgotten as he formulates his next rhetorical free-style illustration.

/Credit to Rush for his identification of The One’s rhetorical method. Words, just words

AZfederalist on March 4, 2009 at 12:36 AM

Hey, speaking of bobbing up and down like a tracking poll, has anyone done a poll yet to see how many Obama voters are now regretting their vote? I’d like to see the percentages on that one. I know a lot of voters were misinformed or just weren’t paying attention to who they were voting for, but I can’t believe that we have that many dumb people in this country!

Susanboo on March 4, 2009 at 12:47 AM

was about to stock up on gold and silver, but throught to wait until the T-bills hit the market. These T-Bills are sucking up a huge majority of the investment dollars that exist in the world so all other investment vehicles are currently sinking.

WashJeff on March 3, 2009 at 4:56 PM

I was thinking about gold too, but don’t know that much about it, except I think that we are headed for a $$ collapse and one world currency, mark of the beast. Could you explain when you think a good time would be to buy, and a little more about how T-bills, or anything else you are thinking of affect the timing to buy gold?

tigerlily on March 4, 2009 at 12:50 AM

As Dirty Harry would say (The Enforcer), “besides being wrong, he is stupid” or something like that. The problem is all of us are affected adversely.

miron on March 4, 2009 at 3:33 AM

Any talk of constitutionally removing Ogabe from office is a waste of time and effort. The consensus among congress and many Americans is that the economy is his to destroy, however he wishes. There is nothing, legally, that will be done to save us. Grab your ankles, America.

SKYFOX on March 4, 2009 at 5:10 AM

Obama as POTUS is so in over his affirmative-action head, “bless his heart.” An histrically illiterate man. An economically illiterate man. Hell, a man factually illiterate overall. America loses no matter whether Obama succeeds or not. “We (America) have dug a deep hole for ouselves”? How about Congress digging a deep whole for us? And, yes Obama, you were a Senator as this whole government-forced home loans to the unqualified was legislated, as a means of spreading home-ownership around (with over-inflated property values backed by the Government). This house of cards is crashing down around our heads (and investment accounts). No thanks to what you did, Obama, and what you are — and are not — currently doing. The corrupt Obama Administration is such an Epic Fail now, and we still have 46 more months to go. One can only wonder how bad things will get with such an Idiot-in-Chief at the helm of state.

RickZ on March 4, 2009 at 6:46 AM

OH MY GOD!!!!

sabbott on March 4, 2009 at 7:38 AM

This guy really does believe that the performance of the stock market is a meaningless statistic.

MarkTheGreat on March 4, 2009 at 8:27 AM

No, Obama doesn’t think of the market as a meaningless statistic. He’s smirking because he really is a marxist and everything is going swimmingly well from that perspective. The Socialists haven’t just infiltrated the government, they ARE the government. Our very sovereignty is at stake. And yet the One still has a what, 68% approval rating?…..I blame all of this on the media and the traitorous journalists…

adamsmith on March 4, 2009 at 8:48 AM

Its to the point where watching BHO without pressing mute is pointless. We know his Communist disposition already. I’m just waiting to hear about the Obama civilian force and their mission to go into the sheeples homes and take all guns and gold in the interest of ‘fairness’

hiphopconservative on March 4, 2009 at 8:56 AM

His approval ratings are manufactured by the media/propaganda machine.
He doesn’t care.
Unlike most other politicians, he wants this financial crisis to get worse.
Then they can implement their emergency “reform” measures.
It’s all about control and retention of power.
Look at his history for clues.
The end justifies the means.
Bad bad apple.

PaddyJ on March 4, 2009 at 9:03 AM

PARTIAL LIST OF DOCUMENTS THAT BARACK OBAMA REFUSES TO RELEASE -. OBAMA’S SECRECY AND “CLOSED RECORDS” POLICY
Indonesian Passport – Not released
Application for U.S. Citizenship (as former citizen of Indonesia) – Not released
Immigration Records – Not released
Original Vault Copy Birth Certificate – Not released
Certificate of Live Birth – Counterfeit Version on Obama Web Site
Obama / Dunham Marriage License – Not released
Soetoro / Dunham Marriage License – Not released
Soetoro Adoption Records – Not Released
Fransiskus Assisi School Application – Not released
Punahou School Records – Not released
Selective Service Registration – Counterfeit version generated
Occidental College records – Not released
Columbia College Records – Not released
Columbia Thesis – Not released
Harvard College Records – Not released
Baptism Certificate – None
Medical Records – Not released
Illinois State Senate Records – Not released
Law Practice Client List – Not released
University of Chicago Scholarly Articles – None
/.;,plk

searcher484 on March 4, 2009 at 9:38 AM