Yesterday President Obama weighed in on the drop in the Dow:
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.”
Get that? Don’t “spend all your time worrying about the Dow.” Except, of course, when the Dow was, you know, bobbing up and down day to day, during the election, then the drop in the Dow was fair game as a way to attack Senator McCain. From an “Obama Action Wire” email with the subject “Black Monday” sent on 9/16/08:
greg –
Hard-working American families are anxiously trying to make sense of yesterday’s disastrous economic headlines.
While they’re trying to figure out just how hard the news will hit them and their savings, John McCain’s advice seems to be: don’t worry about it.
Right after a major global investment bank declared bankruptcy, and in the middle of the second-biggest Dow Jones drop this century, McCain told an audience in Florida that “the fundamentals of our economy are strong.”
McCain never said “don’t worry about,” but President Obama has.





Comments