His mantra-like " pass this bill " was repeated 18 times as if he thought that if it were repeated enough it would stun the members of Congress and make them his devoted slaves and instantly pass his joke... err, jobs bill.
NO mention of entitilement reform, NO mention of the FACT that infrastructure is one of the least things that worry businesses.
And NO mention of how he expects to pay for it, except to once again tax the rich.
The government can't create jobs except in the short term. Only private employers can.
Something O'buma still doesn't understand after 3 years in office !
Cramer: Obama Doesn't Get Capital Formation
NEW YORK (RealMoney) --
You sure don't want a rip into this speech.
Remember, this is an ideological president who actually does think he is friendly to business, so you end up with something that's usually pretty disappointing as Doug Kass says in a post earlier this morning.
But I don't mind.
These speeches are like NFL games.
First, so little money goes on the over that it entices the under and then we are back again as people realize he's simply unable to break out from his community organizer/pro-labor role and really doesn't understand the capital formation process.
Plus, he is trapped by an anti-fossil fuel bias that, again, is ideological and therefore he can't help the one industry that wants to hire but needs government guarantees to hire fast enough.
Don't forget this is the president who failed at creating infrastructure jobs before.
I don't see why he should get it right these days.
So we have to go in with the lowest of expectations and the market's certainly giving you that.
You sure don't want a rip into this speech.
Remember, this is an ideological president who actually does think he is friendly to business, so you end up with something that's usually pretty disappointing as Doug Kass says in a post earlier this morning.
But I don't mind.
These speeches are like NFL games.
First, so little money goes on the over that it entices the under and then we are back again as people realize he's simply unable to break out from his community organizer/pro-labor role and really doesn't understand the capital formation process.
Plus, he is trapped by an anti-fossil fuel bias that, again, is ideological and therefore he can't help the one industry that wants to hire but needs government guarantees to hire fast enough.
Don't forget this is the president who failed at creating infrastructure jobs before.
I don't see why he should get it right these days.
So we have to go in with the lowest of expectations and the market's certainly giving you that.
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