My whole point is when the markets are going up and are indifferent to weak economic fundamentals as in the case today then this will give Obama more power as he takes the credit for the up markets which have a lot of psychological effect on the public. The people will say Obama is right on everything he is doing. Obama will be further encouraged to adopt more destructive socialism that will eventually lead to the collapse of the economy.
I’m not sure what the argument is. I’m just saying that mark-to-market was a bad thing, I’m glad they got rid of it, and I can’t be concerned with how Obama might take credit for a market rally due to a bad policy being overturned.
I’m not cheering what the market does. I don’t have any confidence in it, I’m not following it, and I’m not making decisions based on it.
I’m just glad mark-to-market is gone.