1-day Dow chart (real-time updating):
http://finance.yahoo.com/echarts?s=^DJI#chart1:symbol=^dji;range=1d;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Posted on 03/03/2009 1:54:20 PM PST by Red Steel
President Obama said Tuesday that he is not intently focused on the “day-to-day gyrations of the stock market,” comparing the downward roller-coaster on Wall Street to the fickle nature of political polls.
“You know, it bobs up and down day to day,” Mr. Obama said. “And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.”
With British Prime Minister Gordon Brown at his side in the Oval Office, Mr. Obama said it was more important to focus on whether lines of credit were flowing, businesses were making new investments and unemployed workers were finding jobs. He said was “absolutely confident” the global financial crisis would turn around if those markers were met.
As his words were broadcast on cable networks shortly after noon on Tuesday, the indicator at the bottom of the television screen showed that the Dow Jones industrial average was down once again. On Monday, the Dow closed below 7,000 for the first time since 1997.
“What I’m looking at is not the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing,” Mr. Obama said. “And, you know, the stock market is sort of like a tracking poll in politics.”
With lax regulation and major risks undertaken by banks, Mr. Obama said it was “not surprising that the market is hurting as a consequence.” He said the decline on Wall Street was a “natural reaction” given the bad assets that have soured banks.
The president did not offer any specific stock tips, but suggested that he believed the market might be close to its low point.
(Excerpt) Read more at thecaucus.blogs.nytimes.com ...
Hey President Urkle, the market ISN’T “bobbing up.” Not since you got the nomination.
It’s simple to explain why he doesn’t pay much attention to the gyrations of the market.
He knows better.
Unlike TARP I where the press made the republicans own the crashing market for voting against TARP, Now it doesnt matter!
1-day Dow chart (real-time updating):
http://finance.yahoo.com/echarts?s=^DJI#chart1:symbol=^dji;range=1d;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
October 1st, 2008, he told a different story.
http://edition.cnn.com/TRANSCRIPTS/0810/01/cnr.03.html
Quote: On Monday, over the course of a few hours, the failure to pass the economic rescue plan in the House led to the single-largest decline in the stock market in two decades. Over $1 trillion of wealth was lost by the time the markets closed. It wasn't just the wealth of a few CEOs on Wall Street. The 401(k)s and retirement accounts that millions count on for their family's future are now smaller. The state pension funds of teachers and government employees lost billions upon billions of dollars. Hard-working Americans who invested their nest egg to watch in grow are now watching it shrink. But while the decline of the stock market is devastating, the consequences of the credit crisis that caused it will be even worse if we don't act and act immediately. That's why I'll be flying back to Washington immediately after this rally.
YO, FUHRER OBAMA ... these aren’t Market Gyrations... they are the STEADY SWIRL of GOING DOWN THE DRAIN.
this is what happens we ya put a Commie in charge of a free market...
bhussein despises Wall Street. He wants it to be down. It’s for the “rich”. He’s a Marxist and wants wealth wiped from the face of the earth (except for himself and cronies).
Mr. Obvious
This is getting really scary. Is this jerk trying to trash our economy? Does he not understand what the word 401K means? Is he familiar with mutual funds and what they mean to people approaching retirement?
This man is sick. Very sick. And he has surrounded himself with the absolute dregs we are all familiar with and hoped we had seen the last of when klinton and his sticky fingered wife left the WH after trashing it and Air Force One.
“Bobbing”?
It’s not bobbing, it’s plummeting.
So what he’s saying is, the market and the government are not coupled — there is no such thing as the government affecting markets?
He wants to destroy the nation’s wealth so he can “rebuild” the entire economic system according to his european-socialist or Marxist model.
You’d better start, you freakin’ idiot. Every day you’re proving that you are truly either clueless or evil. I’m leanin’ toward evil.
Get out of the chair and let a real president take over.
I looked up “gyration” in the dictionary, and it doesn’t include the definition, “plunging into the ground”.
This guy either doesn’t have a clue to the damage he’s doing, or he understands it perfectly. Get ready for Dow 3000 in the next few months, if not sooner.
Mr. President, the stock market hasn’t “bobbed up” much or often since it became clear that you would be our President. It has collapsed nearly 30 percent since your election, and nearly 20 percent since your inauguration.
Millions of Americans have had their hopes for a secure and comfortable retirement plans destroyed by a stock market that fears your economic policies will produce the longest and deepest economic decline in our lifetime. And all you can say is that it is “a natural reaction” to the mistakes of the past?
There’s some compassion for you.
Where is the feeling, Mr. President, with which you speak about people that bought houses they could never afford, people that live beyond their means, and people that expect others to pay for their healthcare? Why, when it comes to those who have worked and saved for decades to have a comfortable retirement, can you not summon even a word of feigned compassion?
How dare you, Mr. President, compare this massive destruction of wealth and the devastating effect it has had on millions of lives to a daily political tracking poll. That’s like comparing our cancer to your hangnail.
Why, Mr. President, don’t you just tell the hard working men and women of American to have another slice of cake?
“And, you know, the stock market is sort of like a tracking poll in politics.”
—
His Tracking:
Straight in the Tank!
Also, those already retired living off earned income. I am one in that category.To old to start over.
He’s kind of like the mom watching her son’s platoon marching in boot camp before graduation
“How come everybody’s out of step except Billy?”
“You know, it bobs up and down every day”
Clinton used to say that in the Oval Office, too—at least his shortcomings didn’t cost me any money.....
Obama to your retirement fund: drop dead
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