Wall Street Update...again

Today the Dow Jones dropped 427 points to close at 7997 and change. That means that since The One was elected to be president, the Dow is down 1622 points, or 16.9%.

Barack Obama has held one press conference since he was elected. The markets are nervous about what he will do on taxes in the midst of a recession. Investors are nervous that he will keep his promise on raising the capital gains tax and are selling off before he gets the chance.

Raising taxes in an environment like we currently have is economic suicide. He needs to get in front of the American people and tell them that his tax proposals will have to wait until the current economic troubles have stabilized.

That would be a change.