White House declines comment on stock market drop

[IDemo]

WASHINGTON (Reuters) - The White House declined to comment on a new drop in the stock market on Monday but said the global economy remains "extremely strong."

White House spokesman Tony Snow said Bush administration officials were keeping a close eye on the markets.

Asked if President George W. Bush had spoken to Treasury Secretary Henry Paulson, Snow said: "I don't want to generate a sense of crisis here."

Snow said he was not going to characterize concern or lack of concern in stock markets "only to note that the global economy remains extremely strong." He cited a rise in stock markets in Japan and China over the past year.

http://www.reuters.com/article/idUSWBT00663820070305?src=030507_1010_TOPSTORY_wall_st._falls_at_open

[acmavm]

1. Isn't this where Chimpy wants to put the money for our old age?

Doesn't he want the Wall Street gamblers to have full access to OUR money?

Since that is the case, I think they should comment.

[cgrindley]

2. D'uh

What in blazes do you think would happen to the stock market if they DID say something? Do you think it would go UP?

Many years ago, I was a speech writer in Canada. The Minister I was working for stood up in the local legislature and called the stock traders on the VSE a bunch of scumbags (they were a bunch of scumbags), and you know what? The market almost collapsed. The good went down with the bad. Politicians can't say shit like that about stock markets, even if it's utterly true. Stock markets are based entirely on emotion and butterflies. None of their statistics or math or values make any rational sense at all. All it takes to make the whole thing fall apart is for one powerful idiot to say something stupid.

I for one do not want my retirement savings wiped out by the truth.

[GreenPartyVoter]

5. That totally sucks and is rather scary

[zbdent]

3. We're screwed

The White House said the global economy is extremely strong.

Translation: Repukes have plenty of cash in their numbered accounts in Switzerland and the Caymans ...

Repukes are masters at saying the exact opposite of reality ... "We're winning in Iraq!" "I'm a good Christian!"

[Forkboy]

4. Just released photo of press conference

[Fovea]

6. Moral cowardice in the face of adversity

Courage in the very jaws of security.

That's our Georgie boy.