You can include me with the 50% of the US citizens that are not optimistic about the economy or the stock market. It appears that the O’bama administration has no concept of macroeconomics and the creation of sustainable wealth. I suppose that during his college days O’bama consumed the weekly edition of the Communist Manifesto but never took the time to read Wealth of Nations.
Financial markets do not like uncertainty, and O’bama’s laundry list of esoteric social programs only adds to the mystery. There is no question that the recession started at the end of the Bush administration. However, it is Obama’s pursuit of massive and inflationary spending to support his brand of socialism that is spooking the markets. I have seen first-hand how professional investors are avoiding any risk. For example, some REITs are closing their funds to additional investment. As a result, there are some pundits who see the Dow under 5,000 and rioting in the streets.
O’bama pretends to be a savvy student of business principles, but his public statements illustrate that he does not understand the differences between spending and investing “…a stimulus bill is a spending bill”. If printing money and spending without concern is all it takes for prosperity, I suppose that I have wasted my life working hard trying to build a business. I never thought that the demographics of our country would change to the point that we have a majority of people that want to base their lives on the vision of the tooth fairy.