The president says he doesn't much pay attention to Wall Street. Good thing, because the feeling seems to be mutual: it sells every day he's selling.
New stimulus? Stocks down.
New financial rescue? Stocks down.
New budget? Stocks down.
More than 1,000 points since he became president, more than 2,000 points since he was elected president. Maybe something about costly government rescues. These guys go nuts. They did with the last guy too.
Now, to be fair, these guys are all about, well, these guys. Themselves. They're selfish. They're greedy. They are capitalists. And some aren't even good at that.
They've botched it royally, and now this president is sticking it to them royally, monitoring everything they do, assuming nothing they can do right.
It's no wonder they sell: They've got a president who all but detests them; makes fun of them; points fingers at them; says America is in the predicament it's in because of them; and now taxes them to the wall. And all their upper-income buddies too. And a lot of their deductions too, because they're easy targets. Some, even deserving targets. No matter, right now they are all targets.
It is no wonder they sell: They appear to have no reason to buy because government's taking things over and explaining they're the reason why when it does. You know, when FDR tried this in the 30s it made good theater, and I guess posed little immediate risk. After all, few average Americans even owned stocks.
Not so now, when few average Americans do not. FDR didn't have to worry about folks looking at their monthly mutual fund statements and their 401(k) statements, so he didn't care.
What's troubling is this president does have to worry about folks looking at those statements and he still doesn't care.
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