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The Obama market: A 265 point collapse

08-02-2011 • The Political Commentator

Deja vu all over again as Obama and Reid talk taxes, shared sacrifice and QE3! Back in December 2009 I had written the article below that is relevant, unfortunately, again today. It speaks to how the financial markets are the greatest arbiter of the potential impact of the decisions that take place in Washington. Today President Obama and Harry Reid both spoke of the future in terms of taxes, shared sacrifice and what sounded very much like a call for QE3. The markets answered with an emphatic nay!

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