As a GP commentor once put it, “The stock market relies on confidence, and the stock market has done incredibly well since Obama took over. How do you explain that?”
A picture is worth a thousand words:
But here’s the summary. Fed pumping gobs of money into Wall Street? Market drifts upward. Fed stops pumping? Market doesn’t. The so-called “confidence” is drug-induced.
Hat tip: Zero Hedge
UPDATE: This is your town, on food stamps. Once per month, the town of Woonsocket, RI springs to life as residents receive (and spend) their benefits. The Obama administration has more people on food stamps than any in U.S. history:
Spending on SNAP has doubled in the past four years and tripled in the past decade, surpassing $78 billion last year. A record 47 million Americans receive the benefit — including 13,752 in Woonsocket, one-third of the town’s population…