Professor Elam

Politicians, when things go well, instantly link the White House to the successful implementation of their 'policies.'  In truth the economy and markets are somewhat independent of politics.

The stock market peaked in Oct of 2007 at 14000. We have lost more than half that value in the Dow and many times more than that in other stocks, like CITI now trading for less than $2. I am smelling a re bound in prices.  No doubt poilticians will seize on that as 'evidence' that the markets like the Stimulus package.  But even a 2,000 point Dow rally would do little but relieve an oversold market.

The markets will go where they want, what politicians do in the short run, by stacking up debt for dubious projects to be paid by later generations in the name that we have to do something, is folly. And both parties, led by Bush, Obama and the same crew at Treasury and the FED have done just that.