We can spend all day arguing policy, arguing freedom and liberty. At the end of the day, Wall Streeters are not ideologues. They’re pragmatists that put the rest of us who spin our webs of theory to shame.
You want to know how good or bad an economic policy (or stimulus, or budget) is? Check out how Wall Street reacts. These people have their lives and livelihood completely invested in it. If any of us are wrong, we are embarrassed and look foolish. But our arguments will live on. We’ll debate this crap till the end of time.
For a real perspective, check out those who do it for a living. They don’t care if it’s a “D” or an “R”. They want good policy, and they’re not seeing it right now. For them it’s not about who’s “up” and who’s “down” politically. They know how to make money, and they know Obama’s plans are wrong for the economic health of America.
While the Obana Administration spends their time berating Corporate America, demonizing “the wealthy”, and attacking Rush Limbaugh, their policies are scaring the begeezus out of the people who make the wealth in this country.
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ReplyDeleteI was watching Cramer's Mad Money for a few minutes the other night and he was talking about "Obama proofing" your portfolio. Now here's a guy that I've never heard (I hardly ever watch either) make political comments. Of course, as you say, he wasn't making political comments; he was giving advise on how to keep from loosing your life's savings. In a nut-shell he was advising to invest overseas. I think the American big money is headed for distant shores.
ReplyDeleteExcellant take on the issue. Good read.
ReplyDeleteDan, I also saw Cramer's take on the subject.. It was really Cool!
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