More of last night's teh awesome Stewart:
The storyline is beginning.
CNBC, Fox, and the Wall Street Journal (which is owned by the same company that owns Fox by the way) already are complaining. Obama chooses Main Street over Wall Street.
"You can't help Main Street unless you help Wall Street," they scream.
Ummm, here's the thing. Wall Street can't survive without Main Street, but Main Street can survive without Wall Street. The economy will hurt and growth will be slow, but businesses will survive and consumers will return.
Wall Street can't survive without Main Street. America's economy is driven by consumers and small business. Wall Street only exists to supply funds to allow for growth, and is not an end in itself. Main Street is.
Wall Street traders and financiers actually had begun to believe Wall Street was an end to itself. That market prices were entities that were not connected to physical companies. That moods on the floor had more importance then feet in the mall. That tooth faeries were real and over paid.
They lived and still live in a fantasy world where the believe they are all that matters.
And the millions out of work are sob stories for the nightly news and don't effect the economy.
They are the economy. And when they start doing better Wall Street will start doing better.
And only then.
Now Jim Cramer espouses caution. Too late guy, everyone who listed to you already is broke.
And how a recession that started in December, 2007 is now the fault of Obama who has been in the office for just a month is a mystery. A mystery only the high paid pundits of CNBC and Fox News can unravel for you.
- rob 10:20 PM - [PermaLink] -
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