The Obama Market?

Comments at Cheat-Seeking Missiles.

The market's down $3300 from October 8, when it became apparent Obama was going to win the election. The Wilshire 5000 is even worse.

I used to think blaming the economy on the president was a cheap shot … and I still do.  This fall is part the result of Dem policies on housing and mortgages crafted while Obama was still snorting coke in high school, and excessive spending by W and Congress.  And Wall Street/Main Street is certainly no more enamored with Obama than it is with Nancy Pelosi and Harry Reid.

But my numbers show conclusively that the American voters were wrong when they decided to put their bet on a spend-crazy Obama who said before the election that he would not cut a single spending program despite the worsening downturn - a promise he's kept. 

Wall Street is not buying the Obama spin, just like it didn't buy Carter 30 years ago, despite his popularity. And Wall Street won't buy the spin, ever.  It will buy - or sell - based on real, not political, results, something Obama has never delivered in his flighty career.