Optimism or Pessimism?

More than any single poll of a few hundred people, the stock market is the best indicator going to give us an idea as to the direction of the country. It isn't just a few hundred people voicing their opinions. It's millions of investors from our country and throughout the world, who look to our stock market as a source of return on their investment. This week saw a market in turmoil. On Inauguration day, the market saw the biggest slide ever on that ceremonial day (See Full Story). This showed absolutely no hope or optimism for our economy going forward. It was almost as if a message was being sent to the President. The next day showed a positive recoil from the previous day's disaster. But, as the week progressed, it was primarily a downtrend.

The market is reacting to a lack of hope for recovery anytime soon. The plans on the table give no reason for hope. There's a lot of pork on that table. It appears that the Congress and the White House want this country to have an excessively large helping of that "other white meat" so they can payback those that voted them into office. The much-needed and targeted stimulus plan to get this country back on track just is not there. Investors know this because they are selling their stocks. And, the selling isn't going to stop over the long haul.

For awhile, I was hopeful that the new Administration would continue its middle-of-the-road track that Obama, himself took after his nomination. However, it appears that was just a tactic to get elected. In three short days of being in charge, his far left-wing views are clearly coming back out of the closet he had shoved them into once he got that nomination. We are seeing why Mr. Obama was considered one of the farthest left politicians in the Senate. He snookered those in the center who thought otherwise. I once, in this very blog, thought he would shed his left-wing views to be a great President, and to get re-elected. Now, it is clear that his past actions as an extreme liberal, even as a socialist, are showing up once again in full force. From abortion, to his stimulus plan, and to the war on terror, we are clearly living with a staunch progressive/liberal/socialist in charge. I'm disappointed, and the stock market is too.

Image of the New York Stock Exchange by riacale's photostream on Flickr with Creative Commons Licensing. Some rights retained. (Click to View Other Works).