Tiny, Targeted, and Temporary
Who would have really expected a 300-point stock market plunge on the day after President Obama’s so-called jobs speech?
Yes, worries over new fears of a Greek default ripped through the markets on Friday. As did fears of an al-Qaeda bombing plot on the tenth anniversary of 9/11. But you can’t help but think that at least some of the stock plunge is a signal of no economic confidence in Obama’s plan.
And for that matter, who really expected an unbelievably large $450 billion plan? That’s way more than 50 percent of the original $800 stimulus package in 2009 — which did not work.
Read my full column here.