Obamanomics and Wealth Destruction

It's been a tough month for the new administration.

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Jennifer Rubin of Commentary tries to sum up Obama's first month, particulary fears of bank nationalization:

In other words, the Obama administration, and specifically the boy genius Treasury Secretary, succeeded is wrecking havoc on the markets in a matter of weeks. It is rather remarkable that they thought they’d spur a recovery by talking down the economy, providing no clarity to investors and financial institutions in dire need of some, and coming up with pork-a-thon “stimulus” bill. One wonders how much wealth has been incinerated (and how long the recession has been prolonged) by a government-induced panic.

Me: Are folks more or less confident in the new team in Washington than they were on Inauguration Day? Was that the zenith? Long ways to go, of course. But I wouldn't overestimate voter patience.


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