Sunday, March 08, 2009

Obama's Indifference on Stocks

I hope this isn't true.

Certainly, it is not only the rich who own stocks (or are effected by the losses in the market), and secondly, you can't possibly characterize what's happened over the past couple months as "obsession with daily fluctuations in the market." We just lost 12 years of growth. That is enormous. That is the prime of some people's lives and tremendous amount of work and hard earned money flushed down the toilet.

It'll come back, but it'll take a really, really long time (and hopefully this time it won't be built on speculation, but productivity).

Lastly, I know this crisis isn't Obama's making in the same way the WOT wasn't Bush's making. But how he handles it is going to define his Presidency. And had we known economics was going to be the prime issue facing America in '09-'12 - would we - as a country - elected Obama?

Lastly again, this goes without saying, but if Bush were Pres these past couple months, can you imagine the daily battering he would be taking for incompetence, etc? Is this worth pointing out at all?

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