About us Login Get email updates
Quick Clip
Print

Biden economic advisor Bernstein explains why media focus on stock market losses since Election Day is misleading

March 03, 2009 7:37 pm ET

Please upgrade your flash player. The video for this item requires a newer version of Flash Player. If you are unable to install flash you can download a QuickTime version of the video.

EMBED

Previously: MSNBC's Brewer cropped Dow to suggest current decline began on Election Day

Expand All Expand 1st Level Collapse All Add Comment
    • Author by theclocktowersniper8151 (March 03, 2009 8:03 pm ET)
         
      There's nothing misleading about it. The American investor can plainly see the direction Obama and Biden are taking this country and they, the investor, are reacting appropriately. That's how the market works. Biden's advisor can spin it any which way he wants but the market is adjusting to an administration that will quadruple government spending in the next two years with little or nothing to show for it. Job creation will be minimal with the market headed south so the only job creation will be just that, the government "creating" government sector jobs and hoping inflation will be their saviour. High inflation will create a mathematical smoke-screen for Obama with the illusion of debt reduction. Raum will fill the whitehouse press corp full of "percentages" this and "percentages" that. It'll be quite comical for the next two years.
      Report Abuse
      • Author by NiceguyEddie (March 04, 2009 10:44 am ET)
           

        Are you an idiot?  The market stated declining in MAY of 2008, and it's been pretty close to a linear declining trend ever since then.  Obama and McCain were neck-n-neck, statistically tied until the big 700 pt crash in September, only AFTER which Obama pulled ahead.  Your party's philosophy of deregulation and turning a blind eye to corporate greed caused this mess.  The few democrats tha went along only share the blame proportionate to how much the followed YOUR LOT'S CORE PHILOSOPHY!

        It is utter nonsense to suggest that the lats 5 weeks are somehow independant from the same trend starting 5 to 10 months prior.  Utter. Nonsense.  Name ONE THING that Obama has done that would have a direct negative impact on the stock market? Oh yeah - that would be NOTHING.  What he doing is in response to the pre-exsisting market conditions that he inhereited from George Wanker Bush.  And his proposals are in contrast to your party's which would be: keep doing the same thing that got us here, or do nothing.  Great ideas, Poindexter.  You're either insulting the intellingence of everyone around you, or you possess very little yourself.  Either way you are nothing more than an overflowing font of ignorance.

        Report Abuse
    • Author by wookie (March 03, 2009 8:24 pm ET)
         
      The statistics the critics cite are pointless crap. Obama didn't start until January 20th so the numbers just emphasize how things kept getting worse under Bush.
      Report Abuse
    • Author by funnymanpants (March 03, 2009 8:50 pm ET)
         

      >>The American investor can plainly see the direction Obama and Biden are taking this country and they, the investor, are reacting appropriately

      Yes, which is why Obamma has such a high approval rating. Just keep believing your own propaganda and Obamma will be elected by an even larger margin in 2012. 

      Report Abuse
    • Author by fmbanker87 (March 03, 2009 11:27 pm ET)
         

      obama said the market is like a tracking poll.  he clearly does not know what he is talking about.  the market discounts the future, and does not like what it sees.

       obama's ratings are not that high.  he's 20 pts behind where reagan was at this stage. 

      Report Abuse
      • Author by puttforever4682 (March 04, 2009 7:25 am ET)
           
        straight from Limbaugh, Tracking poll talking points echoed again by clueless sheepy listeners.
        Report Abuse
    • Author by theclocktowersniper8151 (March 04, 2009 3:05 pm ET)
         
      Niceguyeddie chimed in with an array of insults but failed to mention Obama's positive influence on the market, which is none. Obama has made radical changes his first 5 weeks in office but none of these changes has caused a positive change in the way investors see America. As a matter of fact, the reverse is true. Eddie's insults merely show his desperation of supporting bad economic ideas by Obama and his team and the next two years will certainly bear that out. Few, if any, economic experts are applauding Obama's strategy at this point. It is a massive spending agenda bent on reshaping America in Obama's leftist view.
      Report Abuse
      • Author by NiceguyEddie (March 04, 2009 4:23 pm ET)
           

        Obama has made radical changes his first 5 weeks in office but none of these changes has caused a positive change in the way investors see America.

        WTF?  WHAT "radical changes"?  He hasn't even had time to change the curtains yet.  The sign on the office door still says "George W. Bush."  (But the new sign arrives next week, I'm told.)  Are you out of your mind?  Do you honestly think that ONE PIECE of legislation was even supposed to fix everything, overnight, before a single penny of the money was spent? 

        The problem here is that Obama's supporters are far more realistic that the "flowers and unicorns" charicitures that your lot made them out to be.  And the "flowers and unicorns" promises that he supposedly made were nothing more than distortions of what he actually said, made by those on the Right.  I don't know how long this thing will take to turn around, but there's no reason to believe it will happen before the FUNDAMENTAL problems with the economy (starting with the credit market) are fixed.  And there's no reason to think that will happen untiil well after some of this stimulus money hits the states and people start spending again, once their jobs are just a little less in jeopardy, and some of their bills are paid down.  (WHich won't happen at all with soem amssive gov't speding.  Those of us who TOOK & ACED Macro-Econ understand this.)  OTH - you guys proposed doing either NOTHING, or doing MORE OF THE SAME.  You never really dealt with that, dude.  What's more - the only people who thought that Obama would fix everything overnight were his critics.  Way to set some realistic expectations, dude.  Really objective of you.  He hasn't fixed the biggest economic mess we've seen in over 70 years in 5 weeks.  What a bum.  You guys have lost your collective minds.  You are all being absolutely absurd with this nonsense.

        Report Abuse