Friday, March 06, 2009

To the White House: Forget the Inheritance, the Problem is Now

The financial problems plaguing this country are not limited to those inherited from the last administration. The lack of interest projected by the President when it comes to financial matters is taking its toll as well. The President has got to get a grip and encourage the nation. He has to abandon his crazy spending ideas and batten down the hatches. A nation is a terrible thing to waste.

Pictured above is the Dow Jones Industrial Average with the red line marking what has happened from election day until today. Down 3,000 points. This isn't a little moving back and forth from day-to-day like a tracking poll best ignored--as the President put it--to get things right; this is a major meltdown.

Life savings are being lost, businesses are going down the drain, and people are wondering if their cash in the bank will be there when they go to get it. When people buy stock they're trying to buy something that has future value. When the only certain future is uncertainly, the market will try to price that as valiently as it can. Today's market is not solely attributable to an inherited problem, this is a problem in the White House as well. The leadership vacuum created by a president who fails to address the problem by reassuring and encouraging his fellow citizens is frightening and it must stop.


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