March 5 at 10:15AM
Jon Stewart Thinks Barack Obama Needs to Wear a Stock Ticker VISOR
Barack Obama is currently tooling around Washington D.C., indecently exposing his 70 percent approval rating to any unlucky congressman who so much as thinks about amending his appropriations bill wrong.
Foolish mortal. Any CNBC reporter worth his tie knows Obama's illusion of invincibility is about to be shattered. After all, the all-seeing Dow Jones Industrial Average, divine, scaled, price-weighted average of the trading price of 30 arbitrary companies, has rendered a profoundly different judgment on the first 100 days of Obama's presidency:
What question would you like to ask the all-knowing Dow?
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"unfettered capitalists and capitalism really does SUCK!"
Not as much as a ignorant, sheep-like liberal.
Pres. Obama isn't to blame for the state the economy, but nothing he's done, so far, has been any different than what's been done before. Its unfortunate that republicans, and others, use the stock market to judge his presidency, but that's a pointless issue. The bigger issue is the economy continuing to fail after multiple policies. Spending is the wrong answer and any sane economists well-versed in history knows that radical legislation will be the only solution to our current problem. I enjoy John and understand the tone of his show but side-stepping the issue to poke fun at the dumbass voices of the GOP gets old and isn't going to solve anything or put the real issue out there.
Kevin Espeseth
Please make sense next time you post.
Maybe Jon Stewart is right, 30 names is not a good sample… but if you look at the S&P 500 you get the same result. To be sure take a look at the Russell 3000… same thing, way down. The Russell is not so random, it has every stock that matters in this country!!!
But Obama need time for his great ideas to take effect. Well that's not what an index tells you (how things are doing right now), it tells you what people expect the market to do sometime in the not too distant future. This is because people are making a bet on how companies will perform.
When people trade and put their money down they are voting. They are voting on what will happen. It is more powerful than any opinion poll because they are voting with real money! This will always yield a more telling result than a random pollsters call at dinner time… you have nothing to loose when you just approve of Obama with no risk of monetary loss.
If you believe in capitalism then you should be concerned. And if you believe Wall St caused all these bad loans then you are blind to all the facts.
[...] Link:http://blog.indecisionforever.com/2009/03/05/jon-stewart-thinks-barack-obama-needs-to-wear-a-stock-t… [...]
[...] From:http://blog.indecisionforever.com/2009/03/05/jon-stewart-thinks-barack-obama-needs-to-wear-a-stock-t… [...]
To Sailor: That would be "an ignorant sheep-like liberal." At least we paid attention in English class.
To yorfutrxhsbnd: Did you leave out a comma? Maybe you slept through that lesson.
dear dow, what will santa claus be bringing me for christmas ???
[...] Jon points out the idiocy in connecting Obama's public approval rating and the Dow Jones Industrial …. [...]