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Overnight Open Thread

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Honorary Yooper2/25/2009 8:35:23 am PST

re: #985 avanti

Fox Business says it’s the record housing sales decline announced this A.M. driving the market down. Plans good or bad don’t drive the markets, facts do. They say it may turn upward later today once they absorb the bad housing news.

Um, plans, good or bad, do help drive the market. In fact, because FDR kept changing plans and kept Wall Street in limbo as to what he would do, the markets stayed down during the 1930s rather than recovering. I see Obama making much the same mistake.