David Gregory Mistakes Dow for Opinion Poll

The Dow is not a measure about what "people" think about government policies. It's a measure of what the tiny, elite group of people who trade stocks think stocks are worth, which is to say what they think other people would pay for them. These evaluations have little to do with the long-term health of the economy. In some cases, a declining stock market might be good news for the economy, particularly if stock prices have been unrealistically inflated. Full Story »