“No Man’s life liberty or property is safe while the legislature is in session”.

- attributed to NY State Judge Gideon Tucker



Thursday, March 5, 2009

Confusing "Wall Street" With Investors

I caught a fragment of some CNBC anchor's comment the other day involving the administration's remarks concerning the cable network's staff and guests' observations and opinions on Wonderboy's economic moves.

One remark referred to the First Rookie proudly proclaiming that he 'doesn't pay attention to Wall Street.'

The other referred to administration spokesperson comments directed by name at CNBC hothead Jim Cramer. He apparently now has joined Rick Santelli as a specific target of Wonderboy's animus regarding free speech and opinions of his failing economic policies.

It seems to me that Wonderboy is confusing "Wall Street," the now-vanished investment banking sector of the American economy, with investors.

Investors are the driving force behind markets. They, through their demand for securities, both debt and equity, set prices and make financially-oriented judgments on government policies.

The continued fall of equity prices since Wonderboy's inaugural tells you all you need to know about broad investor sentiment about his economic plans and programs.

That's not "Wall Street," that's the broad US and global investing classes pronouncing what they see evolving as a colossal failure.

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