I need to send copies to Barack Obama

My books arrived. I ordered three books from Amazon and they arrived today. Tonight once the kids are in bed I’ll be curled up in my bed with my little book light, highlighter, and pens all set so I can learn at the feet of the great one: Dr. Thomas Sowell. I ordered two of his books, Basic Economics and Applied Economics. I also ordered a book that I have a feeling will come in especially handy during Obama’s administration: Liberal Fascism by Jonah Goldberg.

Barack Obama puts on a good show, but he doesn’t have the foggiest idea what he’s doing regarding the economy. Just take a look at his comments about the stock market’s crash:

President Barack Obama is comparing the stock market to the daily tracking polls used during campaigns, saying that paying too close attention to Wall Street’s “fits and starts” could lead to bad long-term policy.

Obama spoke to reporters Tuesday after meeting in the Oval Office with visiting British Prime Minister Gordon Brown. Obama said he is not measuring policies against “the day-to-day gyrations of the stock market,” but by whether lending is flowing more freely, businesses are investing and the unemployed are going back to work.

Investors, and that includes individuals like my parents who have worked their entire adult lives, saved, and are counting on their retirement accounts and IRAs, have lost trillions of dollars the past month since Obama was inaugurated. The losses are even more staggering if you go back to when he was elected. And what’s his reaction? Dismissive. How is this chart of the past two months representative of what he calls “fits and starts”? It’s a very serious downward trend, yet Barack Obama seems unconcerned.

This is a serious loss of wealth. Jim Cramer at CNBC, a Democrat no less, put this loss of wealth in very serious perspective. He called Obama’s agenda “radical” and described the stock market losses as “the greatest wealth destruction I’ve seen by a president.” How did the White House respond? It was again dismissive:

“I’m not entirely sure what he’s pointing to to make some of the statements,” said Gibbs. “And you can go back and look at any number of statements he’s made in the past about the economy and wonder where some of the back-up for those are too.”

When pressed further by Costello, Gibbs said, “If you turn on a certain program it’s geared to a very small audience. No offense to my good friends, or friend at CNBC. But the President has to look out for the broader economy and the broader population.”

There are millions of Americans who have their retirements in the stock market. Cramer isn’t talking about day traders or professional brokers. He’s talking about everyday Americans. These folks whose savings are being decimated are the broader population.

I’d say President Obama is in serious need of copies of Dr. Sowell’s books because his policies spell doom for our economy and he has no clue.

Update: Here’s the video of Jim Cramer: