Monday, March 09, 2009

The Uncertainty Created by Economic Policy Quote of the Day

"My job is pretty much recession proof. I just hope it's Obama proof."

-- from an email from my co-blogger Lanette, who rightly has concerns that the President's policies will result in a reduction in investment in pharmaceutical research.

I would add this less pungent and more long winded thought: with the Dow Jones Industrial Average having dropped roughly 20% since inauguration day, and with the normally articulate President now babbling incoherently about "gyrations" and encouraging people to buy stock, even as he proposes a series of policies that would force dramatic changes in industries that comprise more than half of the entire American economy (health care, finance, energy, transportation, etc.) while also making radical changes to the tax code and levels of government spending, one fears that the President has ideological commitments that make it impossible for him to face economic realities.

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