'It's only your life savings'

Jennifer Rubin writing at Commentary takes the president to task for his cavalier attitude toward the destruction of wealth his policies are causing.Here's the president telling Americans who have invested in the stock market to suck it up and stay out of his way :What I’m looking at is not the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing. And, you know, the stock market is sort of like a tracking poll in politics. You know, it bobs up and down day to day. And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.How dishonest is that? Rubin:To be clear: there is no bobbing here. It is sinking like a stone. And unlike polls the markets are "real" in the sense that they are tied to real money, real earnings, and real economic behavior. His glib waive of the hand - too busy to worry about the market...(Read Full Post)