Obama is spreading panic rather than building confidence.

Dick Morris tells it like it is: "The crash of the stock market in the days since he took power (indeed, from the moment he won the election) can increasingly be attributed to his own failure to lead us in the right direction, his failed policies in addressing the recession and his own spreading of panic and fear. The market collapse makes it evident that it is Obama who is the problem, where he should, instead, be the solution."

Obama and his apologists will continue to blame everything on George W. Bush, but increasingly the problems of the market seem to be the result of Obama's disastrous policy choices and talking the market down. The market seems to be indicating a profound distrust of Obama and his policies.

As bad as his spend, spend, spend policies are, his announced decision to increase taxes may be even worse. Where does he think job creation comes from except the profits that he will tax away? Increased taxes was one of the disastrous mistakes made by FDR that delayed the recovery in the 1930s. It looks as if his pupil will replay that mistake.