UPDATED: Obama’s Budget: Willful Blindness? March 4, 2009
Posted by Jehuda in Uncategorized.Tags: Economics, Money, News, Politics
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Obama should sit down with a neutral economist and read the writing on the wall:
For all of its occasional tedium, one of the nice aspects of economics is that markets often let you keep score in real time. And markets seem to be sending an unambiguous signal that the U.S. economy is now headed in the wrong direction…
But Obama and his supporters won’t listen to Jim Cramer, or give the stock market its due. Well, they don’t have to rely on any erratic “gyrations” (since when is a dive a gyration, anyway?). They can look for more accurate signs elsewhere and still find them equally ominous:
Fortunately, there are other markets that give a cleaner reaction. In particular, one can look at the government bond market, which is now giving the Obama plan a decided thumbs-down.
Read the whole thing…
RELATED: “Capital, bluntly put, has gone on strike. Those who own wealth are pushing it to the sidelines, as a young and inexperienced president tries to jam through the most sweeping economic changes in over 70 years”. Yup. Capital goes where it’s needed and it stays where it’s well treated. That’s Mr. Obama’s – and everyone else’s – problem right now.
More: “Our leader wants the country to be run by its national government. ‘Run by’ isn’t the same as ‘owned by’.” Exactly…
UPDATE: Demonizing the investor class? (if not, at least forgetting how much the middle class overlaps with it).
