Remember when Obama suggested that all Americans should have some 'skin in the game', thus justifying his socialistic agenda of redistributing wealth? Well, what do the people who have 'skin in the game' right now (i.e. investors on Wall Street) think of his speech last night?
The tone was set early by disappointment President Barack Obama shed little new light about how his administration would stabilize the economy in a major speech before Congress.
It looks like another Barry Market day.
Will Obama and Democrats bust below that 7,000 ceiling? We'll see:
Stocks were down this morning by 150 points or 2% today.
Maybe the markets were reacting to the Democrat's promise to raise taxes on the rich? Or, maybe it was the talk about raising taxes on businesses? It might have been the promise to spend billions more on another pork-laden bill?
At the moment I'm writing this, the market is down about 125 points.
Obama speaks = market tanks.
The consistency continues.
There's my two cents.