Opinion: Justifiable Pessimism Over Obama Hype

Markets anticipate economic cycles. The economic cycle will expand and contract as it always does. Things will get better. But all this sleight-of-hand stuff will not hasten that recovery. It is tantamount to standing on the beach in the afternoon and waving your hands while chanting "Tide! Come to me." When the tide comes in, it's not your accomplishment. It's the work of the moon.

WHERE DO WE GO FROM HERE? (We avoid the Obvious Mistake)

Continue to separate the economic outlook from the market outlook. They are different. If you blend the two, you are destined for one of two fates: You could either be an analyst on Wall Street and lose other people's money, or you could lose a lot of your own money.

THE REAL SOLUTION THAT WILL NEVER HAPPEN

Let's cut to the chase in very simplistic and general terms. While this may offend those who either envy those who are rich--or those who are rich and feel guilty about it--the best economic stimulus results from allowing more rich people to keep their money...not on giving poor people a $500 check so they can put it toward a big screen TV.

When rich people have more money, they get even greedier and expand their businesses to make even more money. This creates the very jobs that most folks are so concerned about.

When poor people have more money, they spend it. They do not save it. And that is why they are poor. Period. This may sound harsh, but most truisms are harsh. They don't need free money. They need opportunities to make their own money. And rich people provide those opportunities. That is why they are rich.

We are enabling those who are doing the wrong thing, and we are penalizing those who have the most to contribute to the very things that the poor people need: JOBS!