Web Letters | The Nation

Go Big, Mr. President

Wall Street and jobs

It seems to be common knowledge on Wall Street, that American jobs support 70 percent of the economy. Anyway, Wall Street has priced in Obama’s jobs proposal as if it is really going to pass Congress. Since investors traditionally buy on rumor and sell on facts, and it is difficult to tell if they are serious about jobs, or are just using rumor to temporarily drive up the stock market. However, since jobs do support 70 percent of the American economy, maybe they realize that there is no American market or economy without the purchasing power of jobs. Is simple math beyond them, or are do they require some complicated mathematical model to prove the importance of jobs to the markets?

Pervis James Casey

Riverside, CA

Sep 7 2011 - 12:54pm

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