The stock market is like a tracking poll?

The President's comments on the equity markets yesterday reveal a stunning ignorance of what they are and do. He sounded much like I might if I had to explain String Theory (no clue what it is, although it sounds cool). The markets are not a poll, they are a predictor of future economic conditions and they are currently predicting future catastrophe. My wife witnessed stark evidence of our downward spiral yesterday as one third of her coworkers were laid off. Are they cheered that we are making a $630 billion dollar down payment on European style health care? No, they want their job back. Are they cheered that we are going to tax CO2 emissions to the tune of $600 billion over the next decade? No, they want their job back. Are they cheered that the Marsh Mouse of California will get $50 million to preserve it's pristine habitat? No, they want their job back. Joe Biden is right that Americans care about a three letter word: J-O-B-S (hey, at least he spelled it right). When even liberal Senators like Russ Feingold and Evan Bayh get sticker shock, maybe it's time to reconsider reinventing America!