The President just doesn’t understand economics and his policy team doesn’t seem to understand either. The markets like specifics and the Obama administration has yet to provide them with any. At his first presser, he told America that his tax evading Treasury Secretary would elaborate on how to handle banking crisis but he didn’t and the stock market fell 400 plus points.
And now he wants to give stock market advice. During a presser with PM Gordon Brown, the Preisdent said that stocks are a “potentially good deal” for the long term. Sure IF YOU’RE A NEWBORN!
Overall, the stock market has lost 3,000 points and Americans have lost nearly $3 Trillion dollars in their retirement accounts since Obama was elected.
Our government, led by the excessive spending liberals, have spent more money since January 20 then they have in the 233 years of this country. It comes out to a whopping $36 billion a day.
While speaking to the press, Obama said the following:
“What I'm looking at is not the day-to-day gyrations of the stock market but the long-term, uh, ability for the United States and the entire world economy, uh, to regain its footing. Uh, and, y-y-you know, the stock market is sort of like a tracking poll in politics. It bobs up and down day to day, uh, and if you spend all your time worrying about that, you're probably going to get long-term strategy wrong.” Unfortuneatly, Mr. President it's mostly bobing down and down.
How much money have you lost in the stock market, Mr. President?
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