After five continuous days of losses in the American stock market, President Obama had this to say in the Oval Office on Tuesday:

The stock market is sort of like a tracking poll in politics. You know, it bobs up and down day to day. And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.

Up and down? How about just down. As of it’s close today, since the stimulus bill passed the Congress, the market (S&P 500) is down 17.5%. Since inauguration, it is down 17.8%. Since Obama was elected, it is down 32.1%. Remember that all this is after its drop following the financial meltdown. Between September 14, 2008, when Lehman filed for bankruptcy and Merrill Lynch was sold to BofA, to election day, the market had already lost 19.6%. Obama has been an even bigger burden to investors than the financial meltdown.

So Obama has lost us 32.1% in the four months since election day. When was the last time that the stock market lost this much in four months? That big crash back in 1987? No. The bear market of 1973-74? Uh-uh. The last time was in the last four months of 1937. Think about that.

How about this, Mr. Obama: if you look at the stock market and it loses a third of its value in the four months since you were elected our chief economic strategist, then you’re probably getting the long-term strategy wrong.

And your insensitive comments about the “investor class", after all your giveaways to the debtor class or mortgage delinquents, really pisses us off.

He also said this:

Profit-and-earning ratios are starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on it.

The fact that they’re not a good enough deal for people to buy them means you are doing something terribly, terribly wrong.

According to the Washington Times, Allan Meltzer, an economist teaching at Carnegie Mellon University, refuted Mr. Obama’s characterization of the market as fluctuating:

The stock market has not been ‘up and down’ since January 20. It is mostly down substantially. And it falls especially on days when the administration announces its plans and proposals. A wise president would not dismiss this vote of no confidence … The administration and the Congress propose to redistribute a large share of income from upper to middle- and lower-income groups. They have set off a race between the tax rate, the inflation rate, and controls. I believe all three will win the race.

You better right this ship fast, Mr. President. My life savings are going down the drain, through “no fault of my own", as you would put it. And I blame you.