PSJust sitting here watching a tape of Cantor on CNN this a.m. w/ John King, I have to say, I think the GOP is being foolish in using the stock market woes to hammer Obama.
Sure, his policies or lack thereof are part of it. But there are numerous other factors too (one being the tidal wave of redemptions hitting hedge funds which the media is either unaware of or loathe to mention).
But here's the thing. Putting aside the fact that the 21% decline in the S&P-500 since Obama's Inauguration isn't that much bigger than the 18% or so back in 2001 from Bush's Inauguration to this same point in time, what is the GOP gonna say when the market inevitably bottoms, turns and rallies with a vengeance (even if it's only a counter-trend move of several months)? Are they then gonna say, well ok, it looks like the market is showing that Obama's policies are the right ones and are instilling confidence?
Guess who looks like a putz today?
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