Its The Economy (Stupid!) That’s Tanking the Market

[RedEarth]

One of the more ridiculous statements going around over the last few weeks is “this is an Obama bear market.” This statement is, well, ill-informed at best and fraudulent at worst. Let’s look at why.

First — who is saying this? Such economic luminaries as John Hawkins at Right Wing News (who actually asked Is Obama Deliberately Tanking the Stock Market?), Powerline, Brit Hume along with a host of other right wing bloggers. What all of these people have in common is their incessant chearleading during the Bush years despite mounting evidence of an upcoming recession. There are the same people who argued that … housing is a small part of the economy … most people are paying their mortgages … the US economy will decouple from the rest of the world …. it’s the greatest story never told ….. you get the idea. Simply put, these are people who have distinguished themselves by being some of the best contrary indicators around.

What all of these idiots are forgetting is the simple fact that the economy is the backdrop of the stock market. When the economy does well the stock market does well. When the economy doesn’t do well, the stock market doesn’t do well. And to that end, the economy isn’t doing well right now. Let’s look at some recent news events:

.......more

http://www.ritholtz.com/blog/2009/03/its-the-economy-stupid-thats-tanking-the-market/

[Turbineguy]

1. They can say "Obama" because

they don't have to say "Clinton" anymore.

[BR_Parkway]

2. Yeah, in their world - everything bad that happened was when Obama

took over from the Clinton administration - they're simply writing Bush out of history altogether

[Dr.Phool]

7. Or, as someone posted in the SMW thread yesterday.

You can give George Bush a pass because 9/11 happened only 9 months into his administration, But you want to blame the economic collapse on Obama, who has been in office 6 weeks?

What kind of an asshole believes that stupid shit?

[panader0]

3. Dow up over 200 right now...(Fingers crossed)

[Dr.Phool]

6. Better uncross them and head for the hills!

It's a typical sucker rally, fueled by a bullshit propaganda piece from Citi.

This market is cooked, and we're years from a recovery.

[dkf]

4. Its the banks that are tanking the market.

Obama is responsible to the extent of the Government's role in creating uncertainty and/or dealing with the situation.

[fumsm]

5. they finally realized they are losing.

Now they have to figure out a way to recover with out giving Obama any credit. I am sure the lyin cheats are hard at work.