Guess What? It's Not Working - The American Spectator | USA News and Politics
Guess What? It’s Not Working

Despite everything Obama and Democrats have done — or, perhaps, because of everything they’ve done — the bad economy appears to be getting worse. Today, the Dow Jones Industrial Average and the S&P 500 both hit two-month lows, and financial analysts are starting to speak bluntly about the grim prospects ahead:

“Investors are grasping the fact that the recovery, when it does come, may not be as robust as what many hope for.”
Robert Siewert, portfolio manager at Glenmede

“It’s an overall reality check. People are starting to worry there may have been a disconnect between the market and reality. I kept thinking we were way due for a correction a month ago or more, and it wasn’t coming.”
Doreen Mogavero, president of Mogavero, Lee & Company

“We are maybe past the very worst of it, but that doesn’t mean we are ready to zoom up. I think the recovery is likely to be shallow and uneven.”
Janna Sampson, co-chief investment officer of OakBrook Investments

Meanwhile, however, the firm of Obama, Pelosi & Reid is discussing the need for yet more “stimulus”:

“I think it’s insane, the first stimulus package has not even been spent yet,” said Andre Weisbrod, president & chief executive of Staar Financial Advisors in Pittsburgh. “They are creating what I would call the government bubble . . . When that bursts we are in huge trouble.”

Ideas have consequences, and the prevailing idea in Washington now — that government is better than the free market in terms of generatiing economic growth — is having consequences that are utterly predictable, and were predicted, seven months ago.

Robert Stacy McCain
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