Tuesday, March 03, 2009

Obama Notices the Stock Market

Finally. With the stock market crashing like a six year old coming off a sugar high, it seems the President Obama has finally taken heed of the stock market.

To the extent that the market decline is a function of a lack of confidence, this might help. But the problem is that with a four thousand point decline from its high, and an over 2000 point decline since his election, the damage has already been done.

The Obama economic policy announcments have no fomented a feeling of confidence in the investing class and has lead to the greatest destruction of wealth ever (even greater than the Great Depression). While I wouldn't call what we are in a depression (I really want to make that clear), I think it has been long past time for the Obama Administration to take a good long hard look at teh correlation between their policy announcements and the stock market tanking.

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