President Obama is definitely trying very hard to boost the nation’s confidence. After his massive economic stimulus plan failed to impress investors about the prospective of a speedy recovery, the President himself came out Wednesday to suggest that stocks at the current level are cheap enough such that “buying stocks is a potentially good deal” ((AP)).
And once again, stocks fell, though moderately comparing to Monday’s huge sell off, with the S&P 500 index at its lowest level in more than 12 years. In fact, stocks dropped more than 30% since Obama won the election (US News & World Report), including the worst performance ever of the Dow on the day after the election and the inauguration day. Now I wonder how much confidence investors have in Obama and his plan.
By the way, Tuesday Obama connected the daily fluctuation of the stock market to the political tracking poll.
Is there any similarity between the two as Obama suggested? I didn’t see it. Did you?