Now Obama Really IS Operating Above His Pay Grade

So, this is curious.  The Lightbringer is trying to jaw-jaw the stock market into a swoon.

Couple things.  Someone named Adrian Gray worries:

No one wins from a President trying to talk Wall Street into a crisis. Bad if markets tank. Bad if markets ignore a president.

Actually, no.  Not bad in the least if the stock market ignore a President.  Not in theory and not in practice.  I know of absolutely no theory of corporate finance or capital markets that says that a market must follow along with the preferences of a government official, even a very high one.  And, as readers well know, I have argued that the stock market is already ignoring the Lightworker.  Well, not ignoring him, but discounting him certainly.

Furthermore, to the extent that "Wall Street" gets spooked, I suspect the damage will be alot worse for Treasuries than stocks.  Right now, stocks are your inoculation against dumb ass government, government bonds are your exposure to such.

Finally, bring it on Sparky.  I'm sitting on a pile of cash and would love to increase my ownership stake in corporate America at lower prices.  I'll bet you Warren Buffet is teed up and ready to buy.  Just one more of the many ways that Dear Leader is helping us millionaires and billionaires.

UPDATE:  Futures pointing slightly lower.   Conclusion:  either it's too early to measure Lightworker's impact or he has NO impact.

UPPDATE:  Futures are down marginally, essentially signalling no impact.  Just as I expected, the market deems Obama essentially irrelevant, which is what I have been saying for awhile.  Sorry, Mr. Gray, the stock market doesn't have to pay attention to the President, nor should we be concerned that it doesn't.

UPPPDATE:  Futures have turned UP!  It actually probably has more to do with the jobless claim numbers, but it sure is delicious to think that the market is saying "Obama who?"

UPPPPDATE:  CNBC:   "Wall Street wonders if Obama wants a selloff"  Translation:  "What is this d**khead doing?"