Are We Betting Everything?

Since Barack Obama was sworn in as president on Jan. 20, stocks have tumbled to record lows — with investors losing an estimated $2.5 trillion in market value. The trend continued Thursday, with the Dow closing down 281 points, a 4.1 percent drop for the day. Since Inauguration Day, the Dow has fallen 20.4 percent. All week, negative headlines have competed with the slumping market ticker, including early news Thursday that General Motors might well go bankrupt despite billions in taxpayer loans.

Obama has moved aggressively on economic and fiscal policies. But investors — if the market is any indication — are giving his initiatives a chilly response. A keen poker player, Mr Obama is gambling not only his own presidency, but the future wellbeing of the country. If he pulls it off, they might find room for him on Mount Rushmore. If he fails, he could bankrupt the world's largest economy.