I believe it is that so far, Barack Obama has focused on the short term, on what I refer to as the first order effects of his policies. That initially plays well with some in the media and with the public at large. But investors are looking to see what the impact will be down the road. They don’t like what they see. President Obama’s economic policies fail to take into account second and third order effects.
A friend of mine sent me the video, and I immediately thought of Mitt's "second order effects". Of course, the metaphor breaks down a little when you realize that its us who get cold-cocked.
