First off "The anticipated tax treatment of stock market investments vis-à-vis other asset classes" as a disntiction is silly: captials gains taxes apply to all capital assets whether they are traded on an exchange or not.
Similarly, risk tolerance is something that the market accomodates by pricing differentials, discounting higher risk ventures while marking up the safe assets.
Moreoever, anything that benefits the economy will benfit the amrket in general as much of the amrket is based on consumer sentiment and buying power and in our capitlaist system eventually a dollar even if "created" by the government has to make it into the private hands.
I could go on, but you are so far out of your depth as to be not worth reasoning with.
Let's take a look at the market today: plunging once more!
Citibank trades beneath a dollar and GM cannot muster $2.00. But heck, let's not get all squishy over the market. Things are jsut peachy and prosperity is right around the corner!
Regan created a new paradign and ushered in supply side economics that created the foundation for propserity, employment and wealth creation that we enjoyed in virtually uninterrupted fashion for nearly 30 years until Ovomit came on the scene.
Now he is killing it with his return to very economics that ruined this economy in the 1960s!
"By and large, conservatives want to use the stock market at the critical measure of how well the economy is doing. Liberals want to use employment and wages, including the inequality of incomes, as a measure of how well the economy is doing. "
Wealth or income distribution, Juris, is hardly a measure of prosperity. I am told that the rich have gotten richer over the last 30 years or so, but at the same time there is virtually no real pverty left in this country and everyone seems amazing prosperous (or at least they did until the edn of Bush era) compared to what I remember about the bad old days.
All that wealth creation at the top sure did a lot it seems to create employment and prosperity for all. Maybe it was the transfer of wealth from the government to the people that Ronald Reagan oversaw that did it?