March 3rd 2009
Obama (Astonishingly) Blows Off Market Fall
W
hen John McCain said (astonishingly) that the economy was fundamentally sound, the mainly marginalized media couldn’t possibly have done more to trumpet his foolishness. So, how much do you think they’ll make of this?
President Barack Obama on Tuesday likened the stock market to the daily tracking polls used during campaigns. He said tracking Wall Street’s “fits and starts” too closely could lead to bad long-term policy. (LA Times)
That’s all? Just a bunch of fits and starts, just a daily tracking poll, nothing to pay attention to when setting policy? The LA Times let it pass with no comment, but I can’t. The stock market has lost half its value in two months – basically, a reaction to Obama’s policies – and that is not what any reasonable person would call “fits and starts.”
indices are not tracking polls; they’re the economy’s EKG; they’re how we track what our retirement will be like; they’re a numeric equivalent to our dreams, and our lifetimes of work.
The president should be pilloried for being so dismissive of the great damage he has done by adopting policies that have devalued our economy by trillions of dollars. But as long as the media cling to their love affair, he will think he’s getting way with it. But, most definitely, he is not.
Posted in Economic Policy, Media bias, Obama | 1 Comment » | |
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March 5th, 2009 at 11:33 am
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