Who would have really expected a 300-point stock market plunge on the day after President Obama’s so-called jobs speech? Yes, worries over new fears of a Greek default ripped through the markets on Friday. As did fears of an al Qaeda bombing plot on the 10th anniversary of Sept. 11. But you can’t help but think that at least some of the stock plunge is a signal of no economic confidence in Obama’s plan.
Leaked reports leading up to the speech suggested a $300 billion plan — already way too big. But $450 billion? At a time of massive deficits and debt? And a downgrade?
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