[a fragment of debate]
If we take seriously the idea that the mood of the country (confidence or panic) can have a huge effect on the market, the genius of FDR's "We have nothing to fear but fear itself" becomes clear.
On the other hand does anyone dare suggest that 2-1/2 years of a war against the president that showed its hand with the urging of parents to keep their children home from school the day he made a special address to schoolchildren -- that these years of calling the president a Marxist, a thug, a secret muslim, not an American citizen, an elitist intellectual an incompetent fool, a wild ideologue, a triangulator with no ideology, and predicting doom for the country if he isn't stopped -- does anyone dare suggest that this is all bound to have a profoundly negative effect on the economy?