Obama Talks, Market Retreats

When President-elect Obama walked on stage this morning to introduce his economic team and to discuss the current chaos in the financial markets, the Dow Jones Industrial Average was up 330 points for the day.

By the time he stopped talking about his expectations for substantial increases in spending and taxes 30 minutes later, the market had declined 100 points in a nearly straight line freefall.

The man simply has no understanding of markets or economics.