Everyone is trying to pin the stock market gyrations on Obama. Here's loudmouth Jim Cramer doing his best Rush Limbaugh.
I remember when Cramer told everyone to buy oil stocks. His reasoning: because people's gas prices went up, why not own a share of the company that is reaping the profits? Good reasoning. Bad timing. Just as he suggested everyone buy oil, it tanked. If you had wanted in on oil, you would've had to have bought it about a year or two prior.
But here he is, another so-called "expert," placing the blame largely on Obama.
I have a tip. Whenever someone has to use theatrics (Rush, Cramer) to get a point across, their advice usually isn't worth heeding because they ARE merely entertainers:
Obama is not to blame for the stock market's ups and downs. We're in a recession (which Obama didn't start) and what we're seeing in the stock market is very emotional traders not getting what they want fast enough. The stock market has an outburst if traders have a bad lunch.
Obama compares it to daily poll tracking. We have to be patient. Obama is coming up with LONG TERM solutions, not quick fixes. America is impatient but this is part of sacrifice. He said it wasn't going to be easy and the people who are near retirement, dependent on their 401Ks, are going to have it worse. But these are the consequences.
