Michael Steele: The Stock Market is Rebounding Because Obama Is Failing

[babylonsister]

:shrug:

http://washingtonindependent.com/53938/michael-steele-the-stock-market-is-rebounding-because-obama-is-failing

Michael Steele: The Stock Market is Rebounding Because Obama Is Failing
By David Weigel 8/5/09 3:26 PM


On a wide-ranging conference call with reporters, Republican National Committee Chairman Michael Steele offered a theory as to why the stock market was performing strongly — because the Democratic agenda was hitting some hurdles.

“I think the stock market is also beginning to speak a little bit about this economy,” Steele said. “Because the train has slowed down on health care — it didn’t get done by the July 31 deadline — because cap-and-trade basically imploded under its own weight in the House and couldn’t get across the street to the Senate, because there seems to at least be some level of confusion that has slowed down this Obama juggernaut on trying to manage and control our economy, the market is beginning to do what markets are supposed to do: Heal thyself! And I think it’s fascinating that more and more people are looking at the market for the solution as opposed to the government. And I think that’s going to be conveyed, hopefully, if we continue to hold back government interference, in the investment and the savings.”

Steele quickly pivoted to argue that the “cash for clunkers” program had nothing to do with any market gains. “The Democrats writ large have basically once again distorted the market with this car program,” he said. “It’s encouraged people to go out and spend money that they may or may not have.”

[RT Atlanta]

1. Up is down with that guy

what a maroon (quoting bugs bunny)

[City Lights]

2. He's nutz.

Between this and his rerouting prank, he's certifiable. :crazy:

[Zynx]

3. And their rationale if they were both declining at once?

[noiretextatique]

4. nothing sadder than a lackey

except perhaps a black lackey.

[RobertSeattle]

5. Tails I win, heads you lose

Words fail.

[SweepPicker]

6. Mucho Loco GOPee

These people are ridiculous!! Hi all new to the forum but looking forward to learning and sharing!

[blondeatlast]

10. Welcome! nt

[DrDan]

7. this is why so few have no idea who he is

no one is listening to him.

He has nothing of value to say.

[mashimaro]

8. Try hundreds of billions of dollars just handed over to Wall Street

I do believe this market has ran it's course and will eventually retest 760 S&P. 70% of the new money in the market is TARP funds. These banks are still insolvent and are gaming the market to finish bleeding retirement accounts.

[FrenchieCat]

9. Michael "bling-bling" Steele.....

Is that you?

[zbdent]

11. stocks down ... the market is failing because Obama is failing ...

freeptoid logic ...

and don't forget ... they pretty much predicted that the stock market would hit negatives under Obama ...

edited to add:

Okay ... the stock market reached its peak numbers because Bush and the Republican party were failing ...

[timeforpeace]

12. It was just coincidence that it started up when cap and trade died.