The commentators on CNBC murmur about the Market as if it were the Island on Lost: a mystic force that must be placated, lest it become angry and punish us. “The Market doesn’t like…” “What the Market wants to see is…”
And, oooh, is the Market cranky at Obama! The Market doesn’t like raising taxes on the wealthy (even if Buffett does). The Market doesn’t like government health-care reform or cap-and-trade environmental policy or big budgets or limiting bonuses at bailed-out banks. And don’t get the Market started on bank nationalization. That ticks the Market off!
