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Thursday, September 04, 2008

The Market Has Spoken, and It's Not Impressed

The stock market reacts to last night's speech:

U.S. stocks tumbled, sending the Standard & Poor's 500 Index to the longest stretch of losses since January

The news media is blaming the drop on economic data such as the news about rising jobless claims that was released today, or are unsure what caused it, but in good old Republican spirit, we know the market dropped for one reason, and one reason only, it doesn't like Sarah Palin and John McCain's economic plans. The increased chance they might win after last night's speech sent the market into a tailspin.

This has been another issue of "What Would They Say If It Was a Democrat?"

[Update: In response to comments, please note: I AM NOT SERIOUS!!! The point is about saying one thing when it's Democrats, another when it's one of their own - e.g. it is quite common for them to say that a drop in the market was in response to some Democratic proposal and I was poking fun at that (I thought that was commonly known, my mistake). But the serious part of the what would they say question, for me anyway, is that I really don't understand why Republicans get away with so much hypocrisy. Democrats get nailed for technical flip-flops, but the blatant hypocrisy from the other side is ignored? I don't get that.]

    Posted by on Thursday, September 4, 2008 at 03:15 PM in Economics, Financial System | Permalink  TrackBack (0)  Comments (20)


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