Throw Away That Ticker Tape

Daniel Gross advises:

[Obama] should be ignoring the Dow. The index has fallen about 50 percent from its closing peak of 14,164 on Oct. 9, 2007. (That was the week the Fox Business Channel debuted. Coincidence? I report, you decide.) Everything about the markets has been chopped in halftheir value, their moral authority, and hence their claim on Washington's attention. Having deprived Americans of so much of their wealth, the market is today like Rush Limbaugh: an unpopular loudmouth prone to emotional outbursts.