Watchwoman on the Wall

The New York Sun

300-Point Plunge in Stock Market Signals Absence of Confidence in Obama’s Jobs Plan

By LAWRENCE KUDLOW, Special to the Sun | September 9, 2011


Who would have really expected a 300-point stock market plunge on the day after President Obama’s so-called jobs speech?

Yes, worries over new fears of a Greek default ripped through the markets on Friday. As did fears of an al-Qaeda bombing plot on the tenth anniversary of 9/11. But you can’t help but think that at least some of the stock plunge is a signal of no economic confidence in Mr. Obama’s plan.

For that matter, who really expected an unbelievably large $450 billion plan? That’s way more than 50% of the original $800 stimulus package in 2009 — which did not work.

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