Dow Recovery Shows Republicans Inconsistency

The Dow is back up over 9300. So much for the Republican line of reasoning that we know it was wasn't working because of the stock market. I don't see many of them making the case that the stimulus worked because of the stock market. They argued that the Obama policies were too close too socialism and the low Dow (on a downtrend since the Bush Administration) showed America's rejection of those policies.

This was obviously bullshit. By their reasoning, they should recognize that Wall Street has embraced Obama policies.

To be consistent, I don't believe the Dow Jones is a proxy for the economy or for how most people are doing. The Dow offers a sense of how much a few companies are expected to profit. Many of us have very little invested in the Dow via things like 401Ks but we are told that it is important to us when it really just is not. Most of the wealth there belongs to the superrich, not us.

I think the high Dow shows that Obama has chosen to fix the economy for rich people first and maybe he'll get around to most folks later (the far greater than 10% that are unemployed or underemployed and fear constantly of getting ill when the insurance company will take years of premiums with a shout of "See ya later, sucka!"). Historically, if the rich people aren't happy, we all suffer, so maybe this is the best approach. But we should not be fooled - least of all by the Republicans who have abandoned every measure of consistency to attack a President who captured a serious mandate from the people.