WSJ.com: Obama's Dow 5000
Unfortunately, it’s true. The stock market doesn’t like you. Only one month in and investors are giving up. Another 30% haircut would put the Dow at 5000. And that level wouldn’t just put a crimp into your presidency. The ensuing collapse in savings and the U.S. pension system would destroy it.
Now, some advisers may tell you not to worry about the stock market. That it will take care of itself. But that’s wrong. Especially today. At its core, the market is a measure of belief — the belief that investors can make money by buying a slice of America.
And a plummeting Dow means they really don’t believe in the country. Or in you.
Source: The Wall Street Journal
