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Will stimulus work?
The markets have decided.
No. It will not.
Here's the deal:
It stinks.
It ain't going to do diddly.
It won't stimulate.
Or rescue.
Bail out.
Or remotely figure out how to make things better.
It'll likely make things worse.
That's not me saying that -- judging by stocks, that's the markets saying that.
The Dow tumbling to a fresh new bear market low...
Since stimulus was first approved...the Dow is off...nearly 500 points.
And to prove this is a bipartisan attack on government largesse...Consider this:
Since the 700 billion dollar financial rescue was first proposed under the "Bush" administration way back last September...remember that one???
Well, since then the Dow has lost more than 4,000 points.
Now, markets aren't always right.
But they are always selfish.
Looking out for their own interests and their own financial interests...Which because so many of us are invested in them, become "our" interests...So they have selfishly concluded there's nothing for ourselves here.
For maybe any of us here.
Bill Clinton learned early on it was important to win over Wall Street in order to win over Main Street.
Barack Obama seems to be doing things in reverse...Potentially forgetting, these days...Wall Street "is" Main Street.
And neither seems impressed.
Markets Saying Much More Than Washington
Large banks take beating on Wall Street
Government’s proposal for banks comes today
More Drama for Obama
