This is an area (the stock market) where I have clearly been right and Rush Limbaugh clearly has been wrong (or inteleectually dishonest--whichever view you choose to take). I have told you that the gyrations of the stock market don't mean much (since these are the Stupidest People on Earth--trading on computer programs and momentum).
Well, the stock market made one of those irratonally big swing moves today--but UP. This is merely the biggest up day in one of those rallies that we have had several times since October when Wall Street casino, short term traders feel they can HYPE some "news". Previous rallies have merely been trpas, as they were nothing more than fiction.
The stock market is now up to November levels (November 20--mayble a little ABOVE where the market closed that day).
Rush Limbaugh was not on the radio today. Question: When he comes back tomorrow, will he now say that Obama is now on the right track, since Wal Street is usddenly so "optimistic". Don't be silly. You know that Limbaugh is not going to praise Obama because the stock market is suddently going up. That merely illustrates the intellectual DISHONESTY of this conservative talk radio habit, over the past month, of blaming Obama for the stock market drops.
Nope. I do not think the stock market gyrations have anything to do with the prospects fro the economy, or with whether Obama is doing the "right thing". I praised Obama for sayihng essentially that--one of the few times I have praised Obama. Presidetn Obama was right. He has no business, as President, in catering to the stock market. In fact, the problem with his most recent economic "proposal" (see earlier entries today) is that it comes straight from those Stupid People on Wall Street.
Thje idea that the people on Wall Street accurately evaluate tell you when our economic policies are taking us in the right direction is STUPID. On this particular issue (almost the only one), President Obama was right, and Rush Limbaugh has been STUPID.
If you doubt this, see what Rush says about the stock market when he comes back tomorrow. What is funny is that if the stock market is down tomorrow, which will only be a reaction to the IRRATIONAL magnitude of the UP day today, Rush will probably mention that--without admitting that his talk about Wall Street traders being so smart has been proven WRONG.