JOHN HINDERAKER: “It’s a bit late for investors to notice that pretty much everything Barack Obama wants to do will hurt the economy.” It’s not too late for Obama to notice that and change his plans, though.

UPDATE: Michael Moynihan: “To all of those who saw in Obama’s victory some sort of economic panacea—and believe me, I have spoken to plenty of people who, like Andrew Young, believed an immediate market recovery would follow the rejection of the Republican Party—I’m here to remind you that it ain’t going to be that easy.” Nope. And it’s not clear that yesterday’s market slide was a response to Obama’s election, though some news stories said so. But it certainly didn’t support the theory that election Obama would solve all our problems posthaste, which quite a few people honestly seemed to believe.