Obama called the bottom … a better call than CNBC has ever made

CJR mocking Gasparino:

Instead, one saddened Obama supporter from Wall Street told me, “He’s looking at a combination of bureaucrats and academics for these jobs”…

Maybe that’s why, as the president on Tuesday urged people to buy stocks because a bottom was near, the market kept going down all day.

Well, then. I’m told that four days later the Dow kicked off its current 49 percent bull run. The economy only declined 0.7 percent in the second quarter and is widely expected to grow sharply in the third, arguably due to administration moves, at least in part.

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Filed under CNBC, Corporate cronyism, President Barack Obama

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