Obama “The stock market is sort of like a tracking poll in politics. It bobs up and down day to day"

[Pirate Smile]

he said. If he spent his time worrying about the daily changes in the market, he said he would probably get the long term solution wrong.


I thought this was a good comparison.

It reminds me of during the campaign when McCain treated the race like it was about who "won the day". The daily spin wars was the focus of the cable chattering heads.

We have the same thing now. Cable news, especially CNBC, are focused on the short term and can't deal with Obama's long term focus so they just throw their daily fits.

[Kdillard]

1. He is exactly right imo. Also as someone said previously on CNN

when the stock market rises it is not necessarily good news for main street. It could just mean a CEO got richer.

[Abq_Sarah]

4. And your retirement account

Just got a little larger.

[Kdillard]

5. Maybe maybe not and that is the point.

[Abq_Sarah]

6. Uh... if your stocks

Increased, the value of your IRA, etc... increased.

[uponit7771]

2. Not only that anyone worth there salt should be dollar cost averaging in right now and if you're not

...then you shouldn't have your shit in the market anyway!!

[Life Long Dem]

3. All I see is spin.

Or a brown out. Unless like today there's something like a meeting that was canceled with President Obama.

I'd say Brown's meeting's are important, and not just the canceled one's.

[firedupdem]

7. I saw an economist on the other day that said wall street will not

be happy until trucks filled with money pull up.

[Pirate Smile]

8. Here is the video.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=385&topic_id=279458&mesg_id=279458

[Pirate Smile]

9. Fuller quote: "What I'm looking at is not 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. And, you know, the stock market is sort of like a tracking poll in politics. You know, it bobs up and down day to day. And if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong."