By Dan Calabrese ——Bio and Archives--March 5, 2013
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Tuesday’s market gains came as the Chinese government announced overnight it was maintaining a growth target of 7.5 percent for this year. The government said it plans to increase spending to support the country’s economy after a slip in growth last year. The Dow’s record high confirmed that the ongoing political paralysis in Washington has failed to spook the markets much in the past year. As lawmakers and President Obama lurch from one fiscal deadline to the next — from the debt-ceiling crisis in 2011 to the fiscal cliff to the steep budget cuts triggered last week — the markets have soldiered on with hardly a bump. “The stock market and the American public are looking at the political theater with a jaundiced eye,” said Ted Weisberg from the New York Stock Exchange, where he has been a trader on the floor for more than four decades.Maybe this is why Obama prefers "Main Street" to "Wall Street" in the simplified parlance he prefers. Those Wall Street fat cats absolutely refuse to panic when he declares that disaster is nigh. Jerks. The Post seems flummoxed by Wall Street's "pattern of near indifference" every time the honorables launch into the latest alleged high-stakes theater. Here's a thought: While the political class is screwing around with nonsense, the rest of us have work to do.
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