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Not a promising beginning

In my latest editorial, I listed a few of the reasons my hopes for 2009 have suffered a setback.

The editors of Investor's Business Daily (aka America's other daily business newspaper) have offered a more detailed look at the various actions of the new administration that add to, rather than reduce, investors' anxiety. They introduce them with:

Today, as the market continues to sell off and we plumb 12-year lows, we wish we had a different explanation. But it still looks, as we said four months ago, "like the U.S., which built the mightiest, most prosperous economy the world has ever known, is about to turn its back on the free-enterprise system that made it all possible."

How else would you explain all that's happened in a few short weeks?

This is followed by a lengthy, rather discouraging, laundry list of concerns. This is not recommended reading for the faint-of-heart breadwinner/taxpayer.

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