Friday, February 27, 2009

The President vs. The Stock Market

Two things that President Obama has done exceptionally well since being elected (in addition to spending our money) are blaming George Bush for all that is wrong with the economy and demonizing Wall St. and the stock market as nothing but a bunch of fat cat, greedy Wall St. Bankers.
First off, the success of the stock market effects the savings, retirement plans and 401k's of millions of ordinary every day Americans so when his fear mongering, tax the rich, anti corporate America rhetoric causes the market to plunge it effects us all in a very negative way.
Secondly while it's convenient to blame his predecessor for the entire economic mess here are a few facts. Since election day the stock market has dropped 2000 points! In just the four days in February where Obama criticized executive salaries, announced his bank rescue plan, signed the $800 billion spending plan and held his Fiscal Responsibility Summit the market dropped a total of 1037 points on those days alone! Mr. President even though it is very convenient and the adoring press that follows you makes it easy to do so, please stop the rhetoric. All of this mess is occurring on your watch now......and that's what shim sez...

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