I have to say I really don't respect the way you have to make your "political discussions" personal.
800-points is very serious, and furthermore, while the market is doing very well now, at the time it wasn't, so my comments were fully logical and justified. Not a "Chicken Little Screed."
Furthermore - explain to me WHY the market is doing so well right now? Who is invested in it, because I have asked around (to professional money managers) and they honestly don't know.
It isn't John Q. Public.
The best guess is that it is all the banks who have been pumped up by the Feds QE while simultaneously limiting their ability to lend money through Chris-Dodd.
If everything is rosy - why aren't the banks lending money? Why are businesses still going bankrupt? Why are there no new jobs being created?
In other words - this has all the signs of an artificial bubble created by the government just like the real estate bubble in the last administration. I may be missing this rally, but I feel a lot safer NOT being in this market right now, because if it crashes & burns it will not be a pretty sight.
Many people have come to accept the current status quo of QE as "manageable" but in truth no one really knows - and the arrogant proselytizing of "economists" like Paul Krugman that the market is a sign of a "solid economy" is just plain laughable.
There are still no jobs. Obama has invested billions in "clean energy" startups and not one of them has had a successful lift-off. Most have crashed and burned. One in five people are getting food stamps.
Are those people in the market? Yeah, right.