Investors Show Confidence In Obama As Market Soars

The Dow is up over 235 points or 3.3 percent today with President Obama scheduled to give an address before a joint session of Congress. Other indices performed even better. We could claim that this demonstrates confidence in Obama among investors and is a sign of the success of his economic policies.

Actually there is not much basis for such claims, or any other claims based upon short term changes in the market, but this argument is just as valid as the many conservative attacks on Obama based upon recent stock market performance.

On the other hand, there probably is some meaning to the near 25% drop in the market when George Bush was in office.

Times Change

Bard DeLong reports receiving this email:

“In Agatha Christie’s autobiography, she mentioned how she never thought she would ever be wealthy enough to own a car – nor so poor that she wouldn’t have servants…”

Will we see a comparable shift in relative costs of anything such as this in the future?

Quote of the Day

“God help us if Obama ever lies about a blow job.”

John Cole responding to this wingnuttia over states’ rights.

If conservatives are so concerned about states’ rights, why didn’t they protest when the Bush administration refused to respect laws legalizing medicinal marijuana in several states? For that matter, why didn’t they protest when the United States Supreme Court put Bush in office, ignoring matters such as decisions of the Florida Supreme Court and the will of the voters?