J.P. Freire: ‘I Can’t Remember Anyone Saying’ The Bear Market Was Obama’s Fault
J.P. Freire: ‘I Can’t Remember Anyone Saying’ The Bear Market Was Obama’s Fault
Today, ThinkProgress Editor-in-Chief Faiz Shakir appeared on MSNBC opposite the Washington Examiner’s J.P. Freire to discuss President Obama’s handling of the economy. During the segment, Faiz brought up the fact that many conservative pundits have a habit of blaming stock market downturns on President Obama, a charge which Friere said was “made up”:
FAIZ: Remember back in October, November, December, January of this year, when Karl Rove and so many Republican pundits were going on TV and saying the market is failing because of President Obama? That the market was reacting because President Obama was now in office? What happened to that? Have their memories just completely been forgotten here?
FREIRE: I think that’s a brilliant strawman you made up. I can’t remember anyone saying that.
FAIZ: Are you kidding me?
The set reacted with uproarious laughter to Friere’s convenient memory loss. “I can’t believe JP doesn’t remember that,” said MSBNC’s Tamron Hall. “People were tracking the stock market and how many days Obama had been in office and comparing the two.” Co-host David Shuster chided Freire’s “selective amnesia.” Watch it:
For J.P.’s benefit, here’s a reminder of some right-wing rhetoric regarding Obama and the stock market:
KARL ROVE: “How much of it is the market saying, ‘You know what? The economy is not in a good place and we’re looking at the future, and how much confidence should we have in the team that’s coming to make the economy better?’” [Fox News, 11/20/08]
THE WALL STREET JOURNAL: “Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama’s policies have become part of the economy’s problem.” [3/9/09]
LOU DOBBS: “[T]he stock market has lost 20 percent since this president was sworn in. He has his own bear market. That’s the definition of a bear market, a 20 percent decline. This is now the Obama bear market.” [CNN, 3/9/09]
SEAN HANNITY: “Obama, since he’s elected, has tanked the markets.” [Fox News, 3/10/09]
A slew of Fox News pundits, in fact, had blamed stock market downturns on Obama. Today, the Dow closed above 9,000 for the first time since early January. We’re eagerly awaiting conservative proclamations of the Obama bull market. The GOP’s more recent efforts to blame job losses on Obama ring as hollow as the “Obama bear market” attacks did.
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lmao, that was awesome, Faiz
July 23rd, 2009 at 5:44 pmppsssssttttttt FRIERE,
July 23rd, 2009 at 5:49 pmyou just contradicted the head of the RNC, tub-o-lard limpballs who was crowing this nonsense since before the eleection in november. pucker up, you’ll kissing his cyst infected blubbery ass tomorrow in apology.
***
you guys ought to give me a job,
an hour ago i told proud off about
the dow on the cheney post:
joe cantwell says:
***
proud,
you missed this one.
have a nice day :)
…
July 23rd, 2009 at 4:10 pm
July 23rd, 2009 at 5:50 pmJP FREIRE: If I cover my eyes with my hands, no one can see me.
July 23rd, 2009 at 5:51 pmThis comment has been voted down. Click to read.
*snort*
So the troll had to go all the way back to “candidate Obama,” huh?
Who was president then?
July 23rd, 2009 at 5:52 pmNicely done Faiz. I seem to remember one Willard “Mitt” Romney making similar proclamations in early February about how the stock market’s decline reflected rejection of Obama’s administration — which was about two weeks old at the time.
Remember the rules class: It is always fair for Republicans to attack you for. If however, the Republicans attack you for a stock market decline you may not take credit for a subsequent rally. It is fair for the Republicans to proclaim the failure of the stimulus before most of the money is spent. If however, economic indicators begin to turn, you may not take credit. Republicans: the party of “heads I win, tails you lose.”
July 23rd, 2009 at 5:52 pmJP FREIRE tried to tell “the big lie” like he would have on faux. the only problem is, shit like that don’t fly anywhere other than faux.
July 23rd, 2009 at 5:53 pmThe repugs only remember good thing about Bush and bad thing about Obama. I call it “Selective Ignorance“.
“We (the R’s and C’s) are all capable of believing things which we know to be untrue, and then, when we are finally proved wrong, impudently twisting the facts so as to show that we were right.” – George Orwell
July 23rd, 2009 at 5:59 pmStampede88 says:
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As the Dow is currently 5000 points below the point it was before Obama was announced as the Democratic contender for president, explain to me how this milestone that was passed 10+ years ago is a good thing?
July 23rd, 2009 at 5:51 pm
Considering your boy , Chimpy McFlightsuit , managed to piss away a multi-billion $ dollar budget surplus , explain to all of us why you’re even posting here , you jackass………
July 23rd, 2009 at 6:01 pmThat’s the problem with GOoPers. They are impervious to facts and dedicated to the opposite of truth.
BTW, stupid troll, do you remember what happened last fall before the election? About a third of the Worlds wealth evaporated in a complex Ponzi scheme that the GOP had orchestrated for nigh on 40 years.
Now? The DOW is going up. Home sales are going up and jobless claims are going down. “Bad” news for the GOoPer obstructionists.
July 23rd, 2009 at 6:04 pmAnd people are surprised at a Republic Fascist Party Member lying?
They will do anything and say anything to try and put down anything Obama does…
…it’s their game plan…and it works on the “Not-so-bright Bulbs” in America.
July 23rd, 2009 at 6:05 pmI love the look on JP’s face when everyone starts laughing at him.
July 23rd, 2009 at 6:10 pmAnyone wanna bet that if our stampeding friend returns, it will be to claim that he’s a libertarian who opposed Bush’s spending?
July 23rd, 2009 at 6:11 pmJ.P. Freire is the associate editor of commentary. Previously he was the managing editor of the American Spectator. Freire was named journalist of the year for 2009 by the Conservative Political Action Conference (CPAC). Besides the Spectator,Freire’s work has appeared in Town Hall, and The Washington Times.
You couldn’t concoct a bio that screams GOP TOOL any more than this ………………
July 23rd, 2009 at 6:11 pmThis comment has been voted down. Click to read.
I guarantee you, no one will give Obama credit for the market turning around.
July 23rd, 2009 at 6:15 pmIn fact, heard an interview on Faux yesterday where the repubs are starting to say that the economy will take care of itself
Obviously, they see the President’s plan working and have started minimizing the impact. Likewise, the “no one has blammed Obama” is another attempt to seperate the President from the recovery.
kind of heralding a recovery similar to the first robin of spring.
July 23rd, 2009 at 6:17 pmStampede88 says:
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July 23rd, 2009 at 6:14 pm
If we had an even semi-intelligent and competent successor to Clinton , we all might have health care coverage right now with no worries . Instead , we’re in a world of SHIT because of Obama’s predecessor ; the worst president in US history.
Congratulations on voting for him twice , BTW……………..
July 23rd, 2009 at 6:17 pmStampede88 says:
July 23rd, 2009 at 6:14 pm
Where were you when Bush was spending like a drunken president?
July 23rd, 2009 at 6:18 pmStampede88 says:
July 23rd, 2009 at 6:18 pmdebt is good. that’s why i hugged 43’s sack for eight years.
Zooey says:
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Stampede88 says:
July 23rd, 2009 at 6:14 pm
Where were you when Bush was spending like a drunken president?
July 23rd, 2009 at 6:18 pm
Sitting on the adjacent bar-stool , apparently………….
July 23rd, 2009 at 6:20 pmThe GOP dictionary says:
I can’t remember= I can’t admit
July 23rd, 2009 at 6:20 pmStampede88 says:
Considering your boy , Chimpy McFlightsuit , managed to piss away a multi-billion $ dollar budget surplus , explain to all of us why you’re even posting here , you jackass………
You do know that a federal government should never have a surplus, right? If there is a surplus, that means they are taking money from you that they should not have. The federal budget should never be +.. should be balanced at all times but never should they take more then they need.
You do know the difference between the deficit and the debt your country has, right? The surplus would have gone to paying down the debt that we still had, and was made even greater by chimpy mcflightsuit, idiot. Your boy borrowed a lot of money from the commies in china that real americans will have to pay off. And by real americans, I mean the ones that aren’t freeeloading republicans, like chimpy, and you.
July 23rd, 2009 at 6:21 pm“go about their business” = code for, no regulations…
July 23rd, 2009 at 6:21 pmoh! way to go, faiz!
July 23rd, 2009 at 6:21 pmStampede88 says:
You do know that a federal government should never have a surplus, right?
You do know that when Bush took office we had a $5 trillion debt. So that surplus could have been used to start paying that off. Instead he passed trillions of dollars worth of tax breaks to the wealthiest Americans, and when he left office our debt was at $10 trillion. Keep trolling though.
July 23rd, 2009 at 6:21 pmBobwurst you beat me to it!!!
July 23rd, 2009 at 6:22 pmBWAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!
Nice one.
In fact, economic rule of thumb is that governments should run surpluses during strong economies and fall back on deficit spending during recessionary periods. It’s kind of common sense, actually.
The idea that government should never run a surplus may seem like a given to a supply-sider, but it’s about time for you guys to give up your fantasy world, since it has proven to be a failure.
July 23rd, 2009 at 6:23 pmThis comment has been voted down. Click to read.
Stampeed is one of those neal horsley republicans who like to date mules…
July 23rd, 2009 at 6:24 pmStampede88 says:
——————————————————————————–
As the Dow is currently 5000 points below the point it was before Obama was announced as the Democratic contender for president, explain to me how this milestone that was passed 10+ years ago is a good thing?
{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{
Stampede88′
I would like you to put aside the political and consider the possibility of Obama succeeding with the economy. I truly believe this would be a positive development for our country.
If Bush had successfully installed a democracy in Iraq, their oil was flowing and we had completely removed our troops, I would be celebrating. I would have given Bush the credit and admit I was wrong in my opposition to the Iraq war, and would have considered this a positive development for the United States.
For better or for worse, Obama is our President, and his success is our success. The spoiler game is not helpful. If you are a reasonable person, consider the implications if President Obama does get this country moving again. We can worry about the direction at a later date.
July 23rd, 2009 at 6:27 pmThis comment has been voted down. Click to read.
A good zinger right in the Balls! Good one Faiz!
July 23rd, 2009 at 6:30 pmJ.P. Freire says:
July 23rd, 2009 at 6:23 pm
What you said, JP, was that you couldn’t “remember” anyone saying the market was President Obama’s fault.
That’s what we’re laughing at.
BTW, welcome to TP!
July 23rd, 2009 at 6:31 pmi second what zooey said@37.
July 23rd, 2009 at 6:31 pmAssuming this IS J. P. Freire, you left yourself a bit of wiggle room there, didn’t ya?
“Not a major talking point” is a bit different than “I can’t remember anyone saying that.” It’s almost like you’re moving the goal posts. Now, it’s entirely possible that you can’t remember anyone saying that, but if so, that might suggest you’re not informed enough to serve as a political pundit, since it was a fairly common theme swirling in the righty media.
You can play the “uncertainty card” all you want to, and claim that the president does squat to effect the economy, but it’s really not a very convincing argument. Your bias against government intervention in all cases is not shared by most of us here, and will not lend any structural stability to your argument in this forum.
Thanks for stopping by, however.
July 23rd, 2009 at 6:31 pmPlease don’t try to equate macroeconomics with home ec.
A government is hardly the same thing as a family, and to assume the same rules and forces apply to each is too simpllistic to be of any use in a meaningful analysis.
But let’s examine the comparison, specious though it is: a family would be well advised to put up a reserve (it used to be called “savings”) to tide it over during slower periods of income, and in drastic financial circumstances, rely on credit to see it through a rough patch.
How is that foolish?
July 23rd, 2009 at 6:34 pmMapleStreet says:
I guarantee you, no one will give Obama credit for the market turning around.
I remember every conservative telling me during Clinton’s 350% stock market rise that the president had nothing to do with how well the market performs. They will spin anything into anything.
I also think that recent history has shown that it is very possible for the markets to do wonderfully and the majority of workers benefit little or not at all. Few have a ton of money in a 401k.
July 23rd, 2009 at 6:35 pmHey J.P, if someone hasn’t beaten me to it, heres Rove on Fox News claiming Obamas poll numbers are having a negative effect on the economy. That was in October.
http://thinkprogress.org/2008/10/23/rove-market-obama/
July 23rd, 2009 at 6:36 pmThe fact remains, Mr. Freire, that you got caught lying and were justly ridiculed for your attempt to revise history. One can go back to well before last years election and find references, including from the Hon. Senator McCain, that the financial woes of the time were due to the mere fear of a Democratic President, House, and Senate.
One can also call up clips of virtually every person on Fox News, and a few other sources, to find people blaming the Congressional Democrats and then candidate Obama for the financial collapse of ‘08.
And during the time between the election and President Obama’s inauguration the claims and accusations became more numerous, persistent, and shrill.
To claim one doesn’t recall such reporting one must confess either a profound ignorance or a complete disregard for any fact that doesn’t conform with your personal worldview.
In short, Mr. Freire, I don’t buy a word of it and I doubt any reasonable person will. You may be able to explain yourself to the knuckle-draggers but it won’t fly here.
July 23rd, 2009 at 6:36 pmThis comment has been voted down. Click to read.
I would like to echo Zooey’s welcome to Mr. Freire. if the posts are genuine (and they read well enough that it’s certainly possible).
It does show some class to come here and defend onesself.
July 23rd, 2009 at 6:41 pmStampede88 says:
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July 23rd, 2009 at 6:38 pm
When exactly did we illegally (and stupidly) invade Japan ?
After we were attacked 1st ?
Leave to a Bush backer to find the most ridiculous and inapplicable analogy and try to run with it…….
BTW
Bush The Boy Blunder giving away unnecessary (and unearned/unwarranted) tax breaks to the already wealthy is an example of a president “getting out of the way” ?
July 23rd, 2009 at 6:42 pmAh, yes, the laissez faire approach to solving the problems that the lassez faire approach caused in the first place.
July 23rd, 2009 at 6:42 pmFaiz,
Thanks for slapping down that right wing liar. Everybody laughed that moron right off the air.
Haha!!
July 23rd, 2009 at 6:43 pmHere’s a TP link from Oct. 23, 2008:
ROVE: But we have to be a little bit careful here, because markets try and predict the future. And what they may be doing here, this volatility may be people’s concerns about what would happen if Barack Obama, who has a lead in the polls and has been deemed by the media to be the likely next president of the United States, what would happen to their economy and their portfolios if he were to become president?
Lots of good comments that day, as usual, but I really liked #21.
July 23rd, 2009 at 6:45 pmBTW Mr Freire
I was wondering , based upon your stupendous response to Faiz Shakir , if you happen to be related to Alberto Gonzales …….
July 23rd, 2009 at 6:47 pmI tried to contact Mr. Freire or the Washington Examiner to see if this was the real person or just a prank. But anything other than leaving a voice mail is impossible. No email for anything other than advertising and circulation. I could not actually speak to a person in the news or editorial department, either. Just a computer.
July 23rd, 2009 at 7:06 pmJ.P., if I were called in to turn a company around whose sales were declining, whose market share was shrinking, which had a debt load that was worrisome, what would I do?
I certainly wouldn’t try to buy back stock.
What I would do is revitalize my product line, work towards rolling out ambitious new products, launch a big “We’re back!” marketing campaign, identify dead space but replace it with new capacity–and absolutely go into debt to do it.
And anybody on the board of directors who would advocate a freeze on new investment I would accuse of being a saboteur.
As for a family, deficit financing is done all the time. Mortgages. Student loans. If you lose your job, it might just be time time to get that RN degree–or that teacher’s accreditation. (It might not.) But would any family say “No, son, you can’t go to college, because that would involve us going into debt?”
Investment produces growth. Not all the time, but there’s no better mechanism for promoting it. I think it’s completely nonsensical to take the position that investment in prosperity is good but investment on a deficit is bad–even if it works.
July 23rd, 2009 at 7:08 pmAll good on Faiz! JP Freire (like concervative GOPers) seems to forget how almost all of the media is recorded audio or video. It’s not so easy to make the past commentary go away and not so easy to get people to forget. Yeah for new media and the progressive/liberal blogosphere!
July 23rd, 2009 at 7:09 pmJ.P. Freire says:
Even if you favor these policies, cap and trade and EFCA are two examples of policies that, if effected, make it more difficult to operate a business. (I’m sure ThinkProgress readers will say: Justifiably so, because these lifestyle things are more important. Fine — I disagree, but whatever.)
You think whether or not our planet is habitable for humans in the future and whether or not people can get a job with a living wage are “lifestyle things”? Whatever!
July 23rd, 2009 at 7:14 pmpbeeg,
July 23rd, 2009 at 7:19 pmMr. Freire does not go into debt when he purchases a home. All cash on the barrelhead!
progress thought says:
Hey J.P, if someone hasn’t beaten me to it
You beat me to it! Hard to keep up around here.
Which is a good thing. :)
July 23rd, 2009 at 7:35 pmIf liberal policies are bad for business and the stock market, then why do businesses and the stock market ALWAYS do better under Dems than they do under Repubs?
I remember record small business bankruptcies after three or four years of Reagonomics.
July 23rd, 2009 at 7:41 pmAnd why do predominantly liberal areas of the nation have higher incomes and productivity and the more conservative areas like the Deep South are at bottom of the per capita income scale?
One would think that the inherent superiority of conservative economic policies would have lifted states like Alabama, Oklahoma and Mississippi into positions of economic leadership long ago.
July 23rd, 2009 at 7:46 pmralph the wonder locust says:
One would think that the inherent superiority of conservative economic policies would have lifted states like Alabama, Oklahoma and Mississippi into positions of economic leadership long ago.
Great comment ralph! There should be plenty of evidence that conservative economic policies works. They have been in place since Ray-Gun. Problem is, these policies HAVE WORKED. The rich have gotten richer. The percentage of people getting rich has increased. The percentage of people getting poorer is by far greater. The Corporations, The Media, The Politicians, they are from the getting richer percentage and it is in their best interest to keep the conservative economic policies that have us where we are. Money is power. Power is psychologically candy. Candy is teeth rotting. Teeth are in your brain!
July 23rd, 2009 at 8:04 pmralph the wonder locust says:
One would think that the inherent superiority of conservative economic policies would have lifted states like Alabama, Oklahoma and Mississippi into positions of economic leadership long ago.
Are you saying that Jindal traveling around doling out federal funds in Louisiana while leaving the impression that it’s state money being handed out doesn’t double the amount of money available? Smoke and mirrors can’t be deposited in the bank?
July 23rd, 2009 at 8:05 pmOnly if you’re creating a diversion so you can rob that bank, mary lacewing.
July 23rd, 2009 at 8:08 pmStampede88,
Two Points
1.) The Iraq situation was given a timetable and a baseline of events that were to happen. First count was the weapons of mass destruction. The oil revenues were to help compensate for some of the expenses. The Iraqi people were to be thrilled with our presence. None of these events occurred, not even a close proximity. I don’t see a thing pertaining to the Iraqi war that has remotely benefited the United States.
2.) Obama’s approach to the economy on the other hand appears to have stabilize the markets. The stimulus package has infused much needed capitol to the country via the states and the private sector. The banking system has stabilized to a degree and the dire predictions have faded. Resounding success, it’s far from it. Have mistakes been made, I am sure there are many.
The US economy was on the brink of collapse. Regardless of all the economic theories the country needed an infusion of capitol. The progressives wanted more, the conservatives wanted nothing. I give Obama credit for balancing these two forces.
I am an optimist and I think Obama will succeed.
Scrap the economics theories, plan for success.
July 23rd, 2009 at 8:17 pmGood on you, Faiz. Laughter is the healthiest response to these pundit twatwaffles, dickweeds, and shitweasels.
TEN! TEN VOTE DOWNS! BWA HA HA HA.
July 23rd, 2009 at 8:56 pmStampede88 says:
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As the Dow is currently 5000 points below the point it was before Obama was announced as the Democratic contender for president
God doesn’t like it when we lie. There is no truth to this statement. The market was in full crash mode well before Obama was chosen. God had his reasons for choosing Obama and we may not like them, but God made his choice.
July 23rd, 2009 at 9:58 pmThis comment has been voted down. Click to read.
Aw geez, why was JP Freire voted down?
That’s not cool.
July 23rd, 2009 at 11:50 pmmarwick sez: “liberal fascism”
Too funny.
Crack a book, loser.
July 23rd, 2009 at 11:51 pm#69 Zooey, Don’t be hating because I can read and you can’t.
Mussolini started out as a socialist. Fascism is socialisms twin sister.
Look it up. If you can read.
July 24th, 2009 at 12:09 amIf you can comprehend, this will help you, Zoo
http://www.econlib.org/library/Enc/Fascism.html
July 24th, 2009 at 12:15 am“Fascism is socialisms (sic) twin sister.”
Too funny…
I’d stick around to laugh your astonishing stupidity, but I’ve got better shit to do.
Toodles.
July 24th, 2009 at 12:20 amHave to go press your blackshirt, Zooey?
July 24th, 2009 at 12:22 amZooey, our friend marwick is actually tactically very clever as trolls go. Rather than post a comment that is easily shot down with facts and/or logic, he posts comments that make no sense at all, and which thus don’t allow any points of attack given their universal weakness.
That cleverness doesn’t extend as far as wit, however.
July 24th, 2009 at 12:46 amGOP Commandment #1.2(c)
When at first you can’t succeed; lie, lie, again.
July 24th, 2009 at 12:48 amThis comment has been voted down. Click to read.
This comment has been voted down. Click to read.
marwick says:
You are so stupidd Bozo the Clown is red with envy. You are white hot singularity stupid. No Socialism and Fascism have nothing to do with each other. Only you braindead brainwashed morons buy such obvious stupidity. Hitler put REAL socialists in concentration camps right next to Jews. Only the stupidest people imaginable, like YOU, dont know that fascism is on the RIGHT end of the political spectrum. I dont know if you can read. It is clear you are far too stupid to understand. In fact its clear higher brain function will always be far beyond your wildest dreams. I do love to laugh at people as stupid as you though.
July 24th, 2009 at 8:41 ammarwick says:
Have to go press your blackshirt, Zooey?
>>>>>>>>>>>>>>>>>>>>>>>.
No she has to go try to convince your mother there is a better way to support YOUR lazy ass. So she should stop blowing toothless leprous truckers for pocketchange
July 24th, 2009 at 8:43 amI actually wrote a two-part series debunking the “Obama tanked the Stock Market” myth on my blog last March.
July 24th, 2009 at 9:02 amThinkProgress video:
Limbaugh blames Obama innauguration for Stock Market slide.
July 24th, 2009 at 9:34 ammarwick says:
Have to go press your blackshirt, Zooey?
July 24th, 2009 at 12:22 am
I’m guessing you were aiming for “brownshirt,” you miserable lame-brain.
July 24th, 2009 at 11:10 amralph the wonder locust says:
That cleverness doesn’t extend as far as wit, however.
July 24th, 2009 at 12:46 am
That’s why I left to iron my witches cape, ralph. It’s not fair to enter a battle of wits with an unarmed troll.
July 24th, 2009 at 11:13 amJ.P. Freire is the associate editor of commentary.
I thought Commentary and Dissent merged to form Dissentary (Woody Allen).
How will the wingnuts reconcile their claims that the stimulus has “failed” with the fact that the economy seems to have emerged from the recession in June, according to concensus economists’ estimates?
July 24th, 2009 at 1:12 pmi wrote about this yesterday on the Huffington Post
http://www.huffingtonpost.com/hale-stewart/the-obama-rally-continues_b_243871.html
July 24th, 2009 at 3:01 pm“Jew Lewinson”?
Really?
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