I thought it was funny a few days ago when President Obama advised people to buy stocks now and hold them for the long term. No doubt he was contemplating a Hail Mary pass. And how long did he mean? The comments were as ill-advised as his invitation to public dialogue with Rush Limbaugh. This was after having his spokespersons telling everyone the stock market didn't matter.
Any stimulus bill had to be focused directly on jobs, the banks, the housing market. Departing from that focus has accounted for a great deal of lost credibility. The President's limousine liberal pals haven't been eager to rush into the markets, either short term or long term.
The Obama Stimulus Plan seems to have driven the markets down, and the confusion telegraphed to business around the world has contributed to economic collapse. The economic plans of the administration create the impression of being spur-of-the-moment reactions to conditions they don't understand in the first place. The cap-and-trade talk is a retardant; a tax on corporations, passed onto consumers, will not help matters.
Don't think I'm being gloomy. I have good news for you. The Obama plan will indeed "create or save three" or four million jobs. That's because millions of baby boomers are beginning to retire even as we speak, and millions more to follow. But what of the money already spent so the administration can claim that its humungous money dump was successful? It's blocking the markets from finding its true footing, allowing to to fall through a series of false bottoms until it doesn't know exactly where it really is.
That's why Obama's liberal limousine elite are giving lip service only to the Obama economic plan. When asked to vote their pocketbooks, they vote no and run for the hills.