Saturday, February 21, 2009

Did the wordsmith Obama misspeak? Or slip up?

"With the Dow Jones Industrial Average making new lows, President Obama may have it exactly right. When he signed the so-called “stimulus” legislation on Tuesday, he said, “today does mark the beginning of the end.”

OK, he meant “the end of our economic problems.” But it was a peculiar choice of words for a man who is supposed to be so eloquent. It’s easily misunderstood — especially since every single effort he, his administration, and Congress have put forth to stabilize the economy has done nothing but drive the stock market lower and lower.

I wrote here several weeks ago that the “stimulus” bill would be an expensive dud — nothing but a big-government power-grab. And I wrote last week about what a disaster the unveiling of Treasury Secretary Timothy Geithner's half-baked bank rescue plan was. It's now gotten even worse, now that we can see a deadly surprises hidden in the "stimulus" bill, and now that we've heard the administration's plans for mortgage foreclosure relief."

http://www.smartmoney.com/Investing/Economy/The-Beginning-of-the-End-for-Investing/

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