It's the Market, Stupid!

Since Clinton, unfairly but to great effect, used a variation of the phrase on Bush I, it is only fair to turn it on the great gullible masses out there. Last night, Obama the eloquent made a moving speech to general acclaim. I was watching Fox where the pundits then proceeded to belittle Bobby Jindal. True, there was something of the marionette in the awkward progress to the mike, but the folksy stories the talking heads disliked appealed to me, none better than the bureaucrat who demanded the registration and insurance of the ragtag flotilla which massed to rescue people in New Orleans after Katrina.

Although I could see some of Obama's spending, as in the technology money is essence an investment for the future. At least the grandkids who will pay for this will get something out of the deal. Not so for the culture funds, the reseeding of the lawn, etc. But then el presidente- with a straight face, no less- insisted there was no pork. What? I've had less at Noche Buena.

All his glibness, however, was not enough to reassure people who actually have two brain cells and think for themselves. Apparently that doesn't reflect many people I know. This morning, they're carrying on about how wonderful he was and how stupid the Republicans. I'm standing around getting offended. First, because it just doesn't occur to them that anyone could conceivably have a different opinion. Second, they who have brought this upon us have not a clue about things financial. So I'm thinking that we'll see later on. But then I realize that they are so entrenched in their conception of themselves that they will never see.

So to my friends, I offer the market which has done almost nothing but tank since the great one took office. Why? Because financial types, some of whom-granted- got us into this mess, have no confidence in an administration which seeks to regulate everything, yet shows no restraint of its own. If the performance of this congress and president were so wonderful, there should be some semblance of bounce, however short-lived. There is none, because the market is not reassured by the Great Society II. Just my two cents.