President Obama, following his meeting with British Prime Minister Gordon Brown, told reporters, Breitbart says, that he was not measuring policies against the ". . .day to day gyrations of the stock market" but by whether lending is flowing more freely, businesses are investing and the unemployed going back to work.
Quite aside from the fact that we're failing on all Obama's parameters, the president's utterances need translation for all us non-Kool-Aid drinkers. St. Barack (no doubt pumped by his meeting with Mr. "Global New Deal" Brown) is telling us: "Who cares about the banks? I've been to Harvard Law, I was a community organizer, a Senator, and both Soros and Michael Moore like me. I know what's best for you, peasants! Who do you believe, me or Wall Street?"
True, the President says stocks look like a "potentially" good deal if you have a long term perspective on it. Oh, swell. Does St. Barack not understand that a rather off-hand comment by the President that stocks are a good buy in the "long" term may have somewhat deleterious effects on Jello stock in the short term? Does he care? Probably immaterial anyway, since all of us, our children, and our kids' great-grandkids are going to be so mortgaged paying on the stimulus that we won't be buying stocks.
Every time this guy opens his mouth, the Dow drops like a stone. How much will it fall this time?