Obama won’t yield to “day to day gyrations of the stock market.”
Perhaps he’s not certain what gyrations are:
WASHINGTON (AP) — President Barack Obama compared the stock market Tuesday to the daily tracking polls used during campaigns, saying that paying too close attention to how Wall Street “bobs up and down” could lead to bad long-term policy. “What I’m looking at is not the day-to-day gyrations of the stock market, but the long-term ability of the United States … to regain its footing.
The stock market is sort of like a tracking poll in politics. It bobs up and down day-to-day,” Obama said. “And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.”
This graphic represents the DJIA since the Democrats eased investors’ pronounced lack of confidence by passing the largest spending bill in American history.
Frankly, Mr. Obama, I don’t see much “up and down,” do you? Not to be a fly in your ointment, sir, but it’s pretty much just down. In fact, it has a nasty habit of dropping further down every time your administration brings clarity to precisely how devoid of any real “solutions” to the nation’s economic woes it truly is.
The Wall Street Journal ponders whether Obama and his party’s “long term strategy” have, in fact, become the problem.
(Graphic credit: Instapundit)