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.
Visit msnbc.com for Breaking News, World News, and News about the Economy
Blowback
Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.
Trackbacks/Pings
Trackback URL
Comments
Comment pages: 1 2 3 Next »
Not a problem. Obama loves me, this I know, for the liberals tell me so.
Kensington on March 3, 2009 at 4:45 PM
Nice.
Guess who’s “NOT” going to be the Worst Person in the Wooooooooooooooooorrrrlllllldddd tonight.
saltydogg14 on March 3, 2009 at 4:46 PM
If Bush had said this, they’d have lynched him.
promachus on March 3, 2009 at 4:46 PM
Bobs up and down? Where has the president been? It doesn’t really bob unless bobbing is defined as “continually dropping”.
Weebork on March 3, 2009 at 4:46 PM
Obama: LOL EMPIRICAL EVIDENCE WAT?
Tacitus_SGL on March 3, 2009 at 4:46 PM
How much is a share of Rezko Home and Gardens, going for these days?
Probably the one stock that has risen.
NoDonkey on March 3, 2009 at 4:46 PM
I didn’t either, when it was going up and down. But now that it is just going down I worry. I really wish obambi would also.
AlanC on March 3, 2009 at 4:47 PM
Why is the Bobby McFerrin song/video “Don’t Worry, Be Happy” running in my mind right now?
Oh, well. I guess it is better than crying and screaming in a pillow.
kingsjester on March 3, 2009 at 4:47 PM
By Barry’s standard, the Titanic is “bobbing”.
NoDonkey on March 3, 2009 at 4:47 PM
Oh man. So many jokes here. So many…but would I be banned?
lorien1973 on March 3, 2009 at 4:47 PM
It’s just a poll?
Firebird on March 3, 2009 at 4:48 PM
Good thing he doesn’t cause if he did he’d might have to realize that the market’s really having a case of buyer’s remorse…
Rogue on March 3, 2009 at 4:48 PM
Nice.
Weebork on March 3, 2009 at 4:49 PM
He’s never worked in the private sector. It’s terrible. They demand results!
Mew
acat on March 3, 2009 at 4:49 PM
Heh. Obama’s mention of the tracking polls sounds like what Bush used to say about listening to polls…
Also, how on earth is this current turmoil “bobbing up and down” when it’s been in a pretty continual downturn since September?
I thought you said you paid attention to the long-term Obama…
modnar on March 3, 2009 at 4:49 PM
The stock market will only go in one direction as long as you’re President, Barry.
pmanley on March 3, 2009 at 4:49 PM
Is this a joke?
Please tell me this is a joke.
rockmom on March 3, 2009 at 4:49 PM
Well, no, lately it hasn’t.
Kralizec on March 3, 2009 at 4:50 PM
Bah! Economic “fits and starts” are no different that approval ratings, says The One. You know, anything that demonstrates unequivocally that he’s a failure who has no clue what he’s doing is wrong, whereas whatever he feels like doing in right.
Now, enough with these distractions! We have to get back to important things that impact every day Americans… like 7 year old, irrelevant memos and twisting Rush Limbaugh’s comments to fit political witch hunt agendas.
Damiano on March 3, 2009 at 4:50 PM
That’s what I was thinking. Where’s Michael Scott when you need him?
nickj116 on March 3, 2009 at 4:50 PM
What this will result in is having a generation of people who will be too scared to believe in long term investing. 401K gone, stocks gone. I thought gold was good but then the commodities bubble burst too. I am stocking up on rice now /s
peter_griffin on March 3, 2009 at 4:50 PM
BOB? Dude, this market is “Circling the Drain” and you are the Jack Kevorkian!
Bicyea on March 3, 2009 at 4:51 PM
Chicago Jesus has seen some “ups” I have not…
10-1 that if/when the market crawls over 7500 we will get regaled with “and they said my policy was not market friendly er uh who do you erm trust?” from Captain Eloquence.
sven10077 on March 3, 2009 at 4:51 PM
The only thing bobbing up and down is Nancy Pelosi. The stock market is tanking and I think Obama is happy about that. What better way of destroying the achievers of this society. He wants people in a panic so it will be easier to transform this country into France II.
bopbottle on March 3, 2009 at 4:51 PM
Bobbing up and down? I must have blinked and missed the up part. Glad he isn’t a life guard with that logic.
dedalus on March 3, 2009 at 4:51 PM
Yeah, this asinine statement from the Zero will really do wonders for market confidence…NOT
Dear god, even my dead houseplant can articulate the condition of US economy better than this moron.
Norwegian on March 3, 2009 at 4:52 PM
Here’s why it won’t go up any time soon:
There is no incentive to put money in. Either the company you buy is so large it’ll be nationalized (cars/banks) or the capital gains on your profits will be taxed in the coming years.
Why put money in, when you’re gonna lose it?
lorien1973 on March 3, 2009 at 4:52 PM
Going up and down… there he goes, confusing the stock market with Chris Matthews head in his lap again.
Damiano on March 3, 2009 at 4:52 PM
Dude, that’s the plan. After this slow death of the stock market, nobody will invest in anything but Treasury bills, and average Americans will demand a “safer” pension system run by the government. That’s how President Emanuel will get the money to pay for his massive expansion of government.
rockmom on March 3, 2009 at 4:53 PM
So totally out of his element. The market is paralyzed and all he can do is tell us it “bobs up and down”?
FireBlogger on March 3, 2009 at 4:53 PM
Hey you people out there losing your jobs; suck it up! Your careers, you know, bobs up and down day to day.
carbon_footprint on March 3, 2009 at 4:53 PM
Does he realize peoples future happens to be mixed up in that little number that has hit the so called floor and broke through it. People are not spending money! Because they are saving for the future that they lost! This idiot needs to be stopped. How could anyone listen to this and have HOPE. Stuff done changed alright.
Tremmy on March 3, 2009 at 4:53 PM
Up and down? It’s gone down 3,000 points since the ba$stard’s been in office. That warrants some attention.
Ah, forget it. It’s going the direction he wants it to go.
Oink on March 3, 2009 at 4:54 PM
I was thinking a favorite “conservative” columnist.
lorien1973 on March 3, 2009 at 4:54 PM
“The stock market is sort of like a tracking poll in politics.”
When all you have is a hammer, everything looks like a nail.
My guess is this is his version of responding to Clinton’s advice for him to be more “positive.” Unfortunately it just makes him sound clueless.
Otis B on March 3, 2009 at 4:54 PM
His “Rezko Home and Gardens” stock is booming.
NoDonkey on March 3, 2009 at 4:55 PM
That’s what affrimative action gets you.
LtE126 on March 3, 2009 at 4:55 PM
This is funny!
Archie Noble on March 3, 2009 at 4:56 PM
I 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
steel ingots shaped like guns are a good investment right now…until the federales try to go 1933 gold market on them that is….
sven10077 on March 3, 2009 at 4:56 PM
This was written over a year ago here
RepubChica on March 3, 2009 at 4:56 PM
He doesn’t care, he doesn’t have any ‘skin’ in the game. He is too good to be in the stock market. what a tool. I really just want to go out and smack the first libtard demo-rat I see……*sigh*
clinker46 on March 3, 2009 at 4:56 PM
BWAAAAAAAHHAAAHHHH…. Way to go Obama, way to put that Harvard education and experience running a campaign to good use. Gawd, this guy is a loser. He could not run a snow cone stand.
davek70 on March 3, 2009 at 4:56 PM
If the Market continues to decline, does that mean Obama’s economic plans are working? Why YES, yes I think it does…
This is why RUSH is rooting for Obama’s policies to fail.
PappaMac on March 3, 2009 at 4:56 PM
TWSS!
BTW (and OT) there is a TWSS app for iPhone users. You’re welcome.
fourstringfuror on March 3, 2009 at 4:56 PM
All this bobbing up and down, then down again, then down again, then down again…………..
………. has evaporated the savings and investments of millions of Americans, Mr. Teleprompter.
Why not have another party at the White House?
Seven Percent Solution on March 3, 2009 at 4:56 PM
Should I buy medical stocks? Probaby not.
How about energy stocks? Probably not.
Bank stocks? Nope.
myrenovations on March 3, 2009 at 4:57 PM
Our retarded Precedent doesn’t even know what a market is. All he knows is that his marxist idols have continually railed against them (tools of the wealthy, you see) and said that they were evil.
progressoverpeace on March 3, 2009 at 4:57 PM
He is right, the economy will turn around, hiring will happen, stocks will rebound…just as soon as they reach bottom.
That is a fact, nothing he does will make it any sooner, but later.
If you wait long enough, and he has 3 years, things will rebound, and he will take credit.
The problem is, how low will it get before the rebound, and how many lives destroyed…he hasn’t a clue.
right2bright on March 3, 2009 at 4:57 PM
I saw that little analysis from BO about how now’s the right time to buy. What exactly is he seeing that we’re not, other than his re-election hopes dimming, if but ever so slightly?
Repurblican on March 3, 2009 at 4:57 PM
Obama “It is with great reluctance that I have agreed to this drastic plan. I love democracy. I love capitalism. The powers you give me I will lay down when this financial crisis has been abated! My first act, with this new authority, is to Nationalize all private enterprise, to counter the increasing threat of the market downturns.”
Rogue on March 3, 2009 at 4:57 PM
How did an ass clown with such a limited vocabulary and a complete lack of eloquence ever accrue the accolades he has for, ostensibly, speaking well?
keep the change on March 3, 2009 at 4:58 PM
I’m stocking up on ammo.
Les in NC on March 3, 2009 at 4:58 PM
100% agreement. Cradle-to-grave, sucking on big mother g’vment’s teat, and this man wants us to worship and be grateful to him for it happening.
Marcus on March 3, 2009 at 4:58 PM
“the Ukraine don’t have no ripples that wash back on our shores”?
WTF???
LtE126 on March 3, 2009 at 4:58 PM
Barry to all Americans: Drop your pants and squeal….
No realization that pension plans like CALPERs are losing billions upon billions
phreshone on March 3, 2009 at 4:59 PM
Yo Michael Steele and the RNC: pick up this fumbled football and run with it.
Pasalubong on March 3, 2009 at 4:59 PM
Don’t kid yourself, the idiot messiah doesn’t care one whit about re-election. He wants to exact his revenge on us (economic and social “justice”) as quickly and as deeply as possible, with the hope that he might succeed in killing the US. That is all he cares about. It’s all about revenge for the Precedent.
progressoverpeace on March 3, 2009 at 5:00 PM
“You know, it bobs up and down day to day.”
Like Larry Sinclair’s head in your lap???
BaaawwwwwHaaaaawwwwww!!!!!!!!
LtE126 on March 3, 2009 at 5:00 PM
There is an even more striking graphic of the DOW drop in today’s print version of the WSJ.
Gee, I wonder why the DOW is plummeting (and the all other tracking systems (NASDAQ, SP):
1. Nationalization threats = no investment. I sure as hell won’t buy stocks in industries being threatened by the Federal Govt
2. Obama’s reckless and irresponsible spending. Oh ya, that spells prosperity…umm. I have most of my money in a cash account now.
3. Increase taxes and regulation on the producing class in order to appease and feed the looters. Umm hmm. Ya, again, nothing buy prosperity in store for us under Obamasocialism.
4. Politicians who sneer and punish “profit”. Oh, gee, this spells innovation and resultant job creation…oh what? You mean any jobs created will be beholden to Obamasocialism and paid by an increasingly small tax payer base?
I agree with Rush. Obama does not want prosperity. He does not want a robust Wall Street. He does not want charitable donations given by free Americans to private charities.
Obama wants dependence on him. Obama wants poverty. Obama wants class warfare. Obama wants America to fail.
And Chrissy Tingles (MSNBC HardBall Anchorette) wants another thrill up his leg.
Montana on March 3, 2009 at 5:01 PM
Gyrations? This isn’t dirty dancing, you crackhead.
It’s our retirements going into the toilet.
I think America is ready to flush this turd known as the Obama Administration.
HornetSting on March 3, 2009 at 5:01 PM
Thanks AP–I was hoping you’d glom onto this one. It’s pure patronization. He really does think we’re stupid.
jeanie on March 3, 2009 at 5:01 PM
Our savings and retirement plans are tanking and it doesn’t bother him. This is part of his social justice. Perfect. I’m so beyond angry that I’m calm.
obladioblada on March 3, 2009 at 5:02 PM
Steele doesn’t have that in his playbook but what he does have is…
the Jim Marshall shuffle
sven10077 on March 3, 2009 at 5:02 PM
Time for Milberg (Formerly Milberg Weiss) to start the worlds largest shareholder class-action suit against The One…
phreshone on March 3, 2009 at 5:02 PM
Onward socalist soldiers marching on to ruination, with the Obama recovery act seal going on before.
saiga on March 3, 2009 at 5:03 PM
Obama’s policies are going according to plan. By the time the market totally tanks, no one will mind when the government nationalizes the retirement plans.
Bicyea on March 3, 2009 at 5:04 PM
The only part of that clip that will show up on the evening news is the first 13 seconds.
We are so boned.
KelliD on March 3, 2009 at 5:04 PM
HornetSting on March 3, 2009 at 5:01 PM
My best buddy had a bunch in the market and he had his broker withdraw it all. He just could not afford to lose any more money. This community organizer is ruining people’s lives with his economic ignorance.
kingsjester on March 3, 2009 at 5:04 PM
Nah, it won’t be anything that stunning. These guys know you can’t boil a frog by throwing it in the boiling water. You have to turn the heat up slowly. This will be a slow killing of equities until everything is financed by debt. After the midterm elections we will see the end of the 401(k) and the introduction of “Social Security Plus” under which the government will generously match everyone’s contribution (of course, only if you make less than the magic $250,000) and invest it in Treasury bills.
Voila! A $2 trillion annual deficit? No problem!
rockmom on March 3, 2009 at 5:04 PM
You guys are something. Just remember, President Obama is trying to clean up the mess your former elected leaders made. That takes time. Be grateful we now have someone with the brains to tackle this gigantic disaster the repugs created. I know you’ve lost tons of money but you have no one to blame but yourselves. Taking it out on the new prez may make you feel better but it’s not reality based. BTW, I made money in the stock market in the past few weeks.
robertnyc212 on March 3, 2009 at 5:04 PM
As I posted on the David Brooks thread:
This ain’t no plan made by liberals or progressives.
This is full Marxist-Leninism… and Barry and San Fran Nan are railroading through the Congress before anyone can stop it…
Leninism holds that capitalism can only be overthrown by revolutionary means; that is, any attempts to reform capitalism from within, such as Fabianism and non-revolutionary forms of democratic socialism, are doomed to fail.
I know I sound like a Bircher…. but unfortunately I don’t think I’m paranoid after the last 6 weeks…
phreshone on March 3, 2009 at 5:05 PM
Just down, pretty much, eh?
littleguy on March 3, 2009 at 5:05 PM
I just bet the trolls will come out in full force to explain to us exactly what Obama means….*crickets*
javamartini on March 3, 2009 at 5:05 PM
“You guys are all crazy in about a year you will be so poor you will need welfare everyone will be doing it. Then you will vote for the Dems. You may even crown Pelosi as queen.” President Obama Can he do anything without a teleprompter??
Tremmy on March 3, 2009 at 5:06 PM
*snort*
MadisonConservative on March 3, 2009 at 5:06 PM
I’m not talking tomorrow, I’m talking in about 2-4 years…
Rogue on March 3, 2009 at 5:06 PM
Obama is too busy going to Wizards basketball games than to worry about the economy.
How foolish of us.
jencab on March 3, 2009 at 5:07 PM
We have time to recover, but with this sh*tstorm getting worse and worse everytime this F-Tard opens his mouth, I’m thinking of bailing as well. We are all poor now.
HornetSting on March 3, 2009 at 5:07 PM
That must be some good medicinal stuff you’re smokin. Better get the hell out of Cali, they’re gonna start taxing you on that pretty soon.
Rogue on March 3, 2009 at 5:07 PM
All the GOP has to do come the fall of 2012, assuming the world is still here, is to ask this one question of the electorate: Are you better off now than you were four years ago?
The answer will be no. Certainly it will be no. Obama will be finished.
keep the change on March 3, 2009 at 5:07 PM
“One of the methods used by statists to destroy capitalism consists in establishing controls that tie a given industry hand and foot, making it unable to solve its problems, then declaring that freedom has failed and stronger controls are necessary.”
—Ayn Rand, 1975
Kevin in Washington State on March 3, 2009 at 5:07 PM
I know….
I’ll write a book about my fathers dreams then I won’t have to worry about the stock market either.
booter on March 3, 2009 at 5:07 PM
What – Me worry?
MB4 on March 3, 2009 at 5:08 PM
Just put down Rush or Palin and all will be forgiven.
Amadeus on March 3, 2009 at 5:08 PM
I just bet the trolls will come out in full force to explain to us exactly what Obama means….*crickets*
javamartini on March 3, 2009 at 5:05 PM
HornetSting on March 3, 2009 at 5:08 PM
Good point, Hannity and Dick Morris were talking about this last night, he doesn’t care about a second term just so long as capitalism is destroyed and everyone is on the dole.
I know many on here are not fans of Morris, but his book Fleeced, which I read last summer, is a good read. His first chapter about what Obama would do as president and the resulting effects are happening almost exactly like he predicted.
davek70 on March 3, 2009 at 5:09 PM
uh…the dims have had control of Congress for two years, right about the time this started.
Les in NC on March 3, 2009 at 5:09 PM
You forgot this: /sarc
right2bright on March 3, 2009 at 5:09 PM
Barack Obama, supergenius, and his attempts to control the economy.
turfmann’s stock tip of the day: buy Acme.
turfmann on March 3, 2009 at 5:09 PM
Someone could usefully explain to this man that P/E ratios won’t find a bottom until their denominators do. The Shiller PE10 is still around 12; from what I’ve seen, it tends to fall to 7 in severe market declines. Nothing the Americans’ President and Congress are doing has given me reason to think the Shiller PE10 will stop short of its customary bottom.
Kralizec on March 3, 2009 at 5:09 PM
What a boob. Are these statements just not indicative of someeone who has no concept of capitalism, the markets and really could care less. Someone who has never worked, never been responsible for a business, never invested, never took risk with capital and yet he somehow just knows how things work and has the answers. Only a supremely arrogant ass would make a statement such as that. He knows he has no idea what he’s talking about and he just doesn’t care…expect more of this…typical Liberal…expert on everything
AmericanUnderground on March 3, 2009 at 5:09 PM
Me worry?
MB4 on March 3, 2009 at 5:09 PM
sell, sell, sell….oh, and by the way Obama , FU and all you brown shirt buddies. Gibbs is a pussy that couldnt argue his way out of a paper sack.
ok, now i feel better.
donnak on March 3, 2009 at 5:10 PM
Here’s what passes for news in Chicago…read the comments. Priceless.
http://www.chicagotribune.com/news/local/chi-0303-oprah-puppy-story,0,2112385.story
LtE126 on March 3, 2009 at 5:10 PM
No surprise that Obama looked like he was struggling to regurgitate talking points and had no clue about anything he was saying.
JA on March 3, 2009 at 5:11 PM
uh…the dims have had control of Congress for two years, right about the time this started.
Les in NC on March 3, 2009 at 5:09 PM
On 7/19/07, the Dow Jones Industrial Average closed at 14,000… now under 2 years of San Fran Nan’s stewardship, its dropped by over 50%
phreshone on March 3, 2009 at 5:11 PM
Still waiting for that unicorn, huh?
KelliD on March 3, 2009 at 5:12 PM
RRRRRRRAAAAAAAAACCCCCIIIISSSSSTTTT!!!
Oh, that’s an “a”. Never mind.
/joke, folks, joke.
Matticus Finch on March 3, 2009 at 5:12 PM
Comment pages: 1 2 3 Next »