Funny, I am not surprised this is happening...
Going from a President weak on economic issues (Bush: Bad trade deals, borrow and spend liberalism, Bailout) to a gawd-awful one (Obama: Socialist, Socialist, Socialist)...this sure isnt going to help the stock market.
Scary thing is that the market mess will make it easier and more plalatable, politically, for Obama to move the US more and more socialist
Not really. The problem with enacting more social policy during a recession is that it tends to discourage new growth, and drives existing businesses closer to bankruptcy.
And once full blown depression hits, Obama is toast. The nation is already broke. he'd have to borrow like a turd world country from the international monitary fund, which is saying it is near broke as well, and was hoping for a few trillion more from the USA.
Obama is screwed. He just doesn't know it yet.
It's too bad the nation has to go through this, but it just might save it from becoming the marxist crap hole it could had business and industry been in better shape and able to withstand gradual marxist policy changes.