Mr. Market and the President

I should have shut the TV off this morning after the Van Morrison interview, only to let things slide into "Face the Nation" where Bob Schieffer repeated the tired canard about "the market," to wit:

"It seems as if every time the Obama Administration announces a specific effort to help the economy, Wall Street tanks."

Mr. Schieffer would be well advised to watch the March 4th edition of the Early Show, wherein Jon Stewart not only shreds the shouting heads on CNBC but succinctly explains why Mr. Market ain't a reliable political indicator (my favorite: it tanked when Truman announced an end to World War 2). He might also wander over to FiveThirtyEight for a more indepth treatment on Mr. Market, politics and the economy.