Video Update: Gibbs – Main St v Wall St, bashes CNBC…Obama: The stock market is like a political tracking poll..
One part of the Gibbs fiasco is up….more to come from Tapper I betcha…
UPDATE: So POTUS and Team Obama dont LOOK at that pesky stock market as important,
WH Gibbs just said Obama is not concerned with daily stock market movement, he is looking at long term,
and that he isnt concerned just with Wall St traders, NOW BASHING CNBC!!!! AGAIN!!!!, “CNBC is geared to a relatively small audience: Gibbs just said when asked about investors losing confidence in Obama…
WH: ” WE NOW KNOW WHAT’S GOOD FOR WALL ST MAY NOT BE GOOD FOR MAIN ST”
DO THESE MAROONS NOT GET THAT MOST AMERICANS OWN STOCKS!! WTH IS WRONG WITH THEM!!
Now Gibbs just said the ‘investor class’ and POTUS can not just focus on ‘them’
FRAKKIN MAROONS! DOW WAS UP AND IS NOW TURNING BACK DOWN, FRAKKIN IDIOTS
at least he gets more ‘leaderly-like’, heh, when near another leader, like Zelig the chameleon man
Tapper has the scoop :
President Obama told Americans to take a look at investing in the stock market this afternoon, a remarkable utterance for an American president, especially as the Dow Jones Industrial Average proceeds on its course Southward.
“What you’re now seeing is … profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on it,” the president said on a day that trading continued to hover under 7,000.
The president predicted that Americans’ consumer confidence would improve as they see the stimulus bill “taking root.”
“Businesses are starting to see opportunities for investment and potential hiring,” he said. “We are going to start creating jobs again.”
President Obama made his comments in the Oval Office during a photo opportunity with British Prime Minister Gordon Brown, where the two world leaders took a handful questions from the media.
Asked about the troubles of the stock market, seeming to reflect investor insecurity about the Obama administration’s economic plans, the president said he was “absolutely confident that they will work, and I’m absolutely confident that credit’s going to be flowing again, that businesses are going to start seeing opportunities for investment, they’re going to start hiring again. People are going to be put back to work.”
Obama said he wasn’t focused on “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.” he compared the Dow Jones Industrial Average to a daily tracking poll in politics. “You know, it bobs up and down day to day,” he said. “And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.”
everything he says here clearly demonstrates IMO he does not get it on the economy
he is destroying wealth and apparently thinks that is just fine and dandy..
when listening to Gordon Brown of UK kiss axx recall Brown wants a new GLOBAL NEW DEAL GRAND BARGAIN..