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March 7, 2009
Add Bloomberg and ABC to the Growing List That Say 'It's Obama's Bear Market'
Topics: Political News and commentariesJennifer Rubin notest that Bloomberg isn't buying the Obama administration's "not our fault" take on the stock-market crash, and says that "Robert Gibbs will now have to add that entire news service, along with the Economist, the Wall Street Journal, Rick Santelli, and Jim Cramer to his list of supposed know-nothings who are too dense to appreciate the brilliance of Tim Geithner and the efficacy of a spending orgy, tax hikes, nationalization of healthcare and major industries, and cap and trade":
Bloomberg reports:"It's the Obama bear market," said Dan Veru, who helps oversee $2.8 billion at Palisade Capital Management in Fort Lee, New Jersey. "We don't know what the rules are in so many different areas the government is touching."
[ ...] "Obama should be listening to the stock market more than talking to it," said Kenneth Fisher, the billionaire chairman of Woodside, California-based Fisher Investments Inc., which oversees $22 billion. "He hasn't gotten out of the gate well."
Like the old joke: if people tell you that you're drunk, perhaps it's time to sit down.
And ABC's the Note gets into the act with a jab at the PR-obsessed president who might not get the big picture on a day when unemployment hits 8.1%:
From the White House, on the president's trip Friday: "The President will deliver remarks at the Columbus Police Graduation Exercises. The 25 Columbus police recruits graduating Friday learned in January that instead of being sworn-in as officers, they would be let go. However, Mayor Michael Coleman announced last week that he would use money from the American Recovery and Reinvestment Act to pay the recruits' salaries so they could keep their jobs."
Yes, 25 jobs. Just wait until that new Arby's opens out on Route 50. . . .
Read Jennifer's entire piece here...
Obama would do well to give up his socialization of America and focus on fixing the economy by fixing the banking system (beginning with the toxic-assets problem). Otherwise, there aren't going to be any taxes from businesses and individuals left to pay for his big government social programs and huge budgets, and America will be bankrupt. It's as though that, in spite of his rhetoric, Obama doesn't really understand that business, not government, is the engine of growth in this country.
Related:
He's Just Not that into Governing (What does he like to do? Summits. These are in essence campaign events -- faux town-halls where nary a discouraging word is heard and no real work is done. And he loves those campaign rallies around the country. ... it should should come as no surprise. George W. Bush was lambasted for poor management skills and excessive delegation. But that was nothing -- Obama has delegated the entire task of governing. He himself will keep campaigning.)
How do you know you're winning? (Absent any other data that President Obama can present, then a bear market is a bear market is a bear market.)
Posted by Hyscience at March 7, 2009 8:04 AM
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