The problem is...

As the equity market sinks to new lows, there's an almost palpable feel of money and power shifting from the longs (dumb optimists) to the shorts (savvy realists.) The problem is that jobs and capital formation depend on the longs, as do pensions (state, local, union, corporate) and future social security payments.

We maintain our view that the collapse of the U.S. economy and financial markets can be stopped, and probably will be, but not with Washington's current policies.

David Malpass, via NRO. No worries, it's just a poll.

Our president says so.