Presidnet Obama to Wall Street: "Drop Dead!"

President Obama has nearly complete disdain for the stock market, comparing it's movements (down 20% since he took office) to a politician's daily tracking poll. His attitude reflects both his lack of knowledge of basic economics and his inability to acknowledge what he doesn't know.

The President doesn't understand that Wall Street is not the private preserve of a handful of evil bankers that he caricatures; instead, it is America's master savings account, our investment in our future.
What began a year ago as a dribble of withdrawals accelerated in November into a full-blown run on the bank as tens of millions of regular families submitted simultaneous "sell" orders. The trade imbalance, where sellers have outnumbered buyers every week but one since the election, has wiped out trillions of dollars of savings, retirement accounts and corporate value.

President Obama fancies himself a descendant of FDR. In his economic policies, his tax policies, his willingness to castigate economic bogeymen, he's more similar to Herbert Hoover than Franklin Roosevelt.

Just like the market is never wrong, it is also never irrelevant.