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AP on the post-election stock market drop

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Unsurprisingly, the AP words it this way:

Stocks Tumble as Investors Shift Focus to Economy

Wall Street stopped to catch its breath Wednesday, cashing in gains from a rally that lifted the Standard & Poor's 500 index more than 18 percent over six sessions. Stocks showed little impact from the presidential election or a report that the U.S. services sector contracted sharply in October.

So when the stocks went up on election day, it was investors optimistic about the results, but now that the results are for Obama, and stocks are down, suddenly investors no longer care about the election results and they're "shifting their focus back to the economy".

Last night, Asian stocks went up and everyone on TV said it was because of the Obama win. And if the Dow had shot up 500, the AP would be reporting how elated investors were with the Obama win.

Edited by brian0918
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...The same brainiacs who think that the president rescinding the executive ban on offshore drilling had NOTHING WHATSOEVER to do with the gigantic plunge in crude oil prices that started the very next day! (They credit Bernanke saying that if the prices stayed high, demand would drop--as if any market trader who doesn't lose his shirt in the first five minutes of his career does not KNOW this....)

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Unsurprisingly, the AP words it this way:

So when the stocks went up on election day, it was investors optimistic about the results, but now that the results are for Obama, and stocks are down, suddenly investors no longer care about the election results and they're "shifting their focus back to the economy".

Last night, Asian stocks went up and everyone on TV said it was because of the Obama win. And if the Dow had shot up 500, the AP would be reporting how elated investors were with the Obama win.

Anyone who says the stock market did X on any given day, because of Y, is lying to you.

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I can't remember where I saw the data and it's been several years ago, but I get charts and stuff all the time from mutual fund companies and such, being in the business. Historically, when the elections are mixed (Dem Pres, Rep Legislature or Rep Pres, Dem Legislature) the market is up the following day. When one party wins it all, markets are down. Perhaps Wall Street understands the importance of gridlock vs almost-always-bad-change?? B)

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It's totally ridiculous to think that this is a response to the election. For one thing, this dip is pretty tiny compared to recent dips. More importantly, however, is that Obama's election has been a sure thing for weeks now, and whatever affect that may have on the markets has been priced in at least as long as that. Markets are forward-looking.

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Well, then if it can't be the election that did it today, it cannot be the election that did it yesterday either, for exactly the same reasons!

The point is the media is being inconsistent here. Either Obama causes the markets to move or he does not. Ascribing upward movements to him and downward movements to anything else reeks of the sort of "logic" that says God must have been watching out for so-and-so because he was late to work in the WTC on 9/11.

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Ha! Now that the Dow's down 400+, the AP is saying maybe it has something to do with Obama:

A case of post-election nerves sent stocks lower Wednesday as investors worried about recession began questioning what impact a Barack Obama presidency will have on business and the overall economy.
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The media...inconsistent?! Never! :P

Of course not. They always spin facts to suit their ideology. that's very consistent.

For example, once a lion escaped at the zoo and pormptly cornered a little girl. A zoo patron threw a rock at the lion's head, stunning him, and pulled the girl out of danger. A reporter saw the whole thing and immediately took down all details to report the story. He asked the quick-thinking hero "By the way, how did you vote last week?" The man asnwers "Republican."

So the headline the next day is "Rabid McCain supporter beats up African immigrant and steals his lunch."

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Of course not. They always spin facts to suit their ideology. that's very consistent.

For example, once a lion escaped at the zoo and pormptly cornered a little girl. A zoo patron threw a rock at the lion's head, stunning him, and pulled the girl out of danger. A reporter saw the whole thing and immediately took down all details to report the story. He asked the quick-thinking hero "By the way, how did you vote last week?" The man asnwers "Republican."

So the headline the next day is "Rabid McCain supporter beats up African immigrant and steals his lunch."

Nice. :P

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Of course not. They always spin facts to suit their ideology. that's very consistent.

For example, once a lion escaped at the zoo and pormptly cornered a little girl. A zoo patron threw a rock at the lion's head, stunning him, and pulled the girl out of danger. A reporter saw the whole thing and immediately took down all details to report the story. He asked the quick-thinking hero "By the way, how did you vote last week?" The man asnwers "Republican."

So the headline the next day is "Rabid McCain supporter beats up African immigrant and steals his lunch."

:P I love it.

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I don't think that an Obama win would have affected the stock market to the degree portrayed by the media. By most measures Obama was the predicted winner at least a week before the election. The market would have already digested the news.

Edit: Grammar

Edited by LeoPTY
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Of course not. They always spin facts to suit their ideology. that's very consistent.

For example, once a lion escaped at the zoo and pormptly cornered a little girl. A zoo patron threw a rock at the lion's head, stunning him, and pulled the girl out of danger. A reporter saw the whole thing and immediately took down all details to report the story. He asked the quick-thinking hero "By the way, how did you vote last week?" The man asnwers "Republican."

So the headline the next day is "Rabid McCain supporter beats up African immigrant and steals his lunch."

Source please. :P

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Of course not. They always spin facts to suit their ideology. that's very consistent.

For example, once a lion escaped at the zoo and pormptly cornered a little girl. A zoo patron threw a rock at the lion's head, stunning him, and pulled the girl out of danger. A reporter saw the whole thing and immediately took down all details to report the story. He asked the quick-thinking hero "By the way, how did you vote last week?" The man asnwers "Republican."

So the headline the next day is "Rabid McCain supporter beats up African immigrant and steals his lunch."

:P Good one!

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This is just a taste of what we have coming from the MSM for the next four years. Everything bad that happens will be the fault of 8 years of Republican looting, plunder and de-regulation. Nothing bad that happens will be the result of the socialism that we'll be getting shoved up our backsides.

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This is just a taste of what we have coming from the MSM for the next four years. Everything bad that happens will be the fault of 8 years of Republican looting, plunder and de-regulation. Nothing bad that happens will be the result of the socialism that we'll be getting shoved up our backsides.

Like always.

By the way, I'm still eager for that source. :confused:

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  • 8 months later...
"There was a similar stock market crash in the US in 1929. Lets hope that things improve during these recession days and stock market open new ventures for investors and stock traders."

And the History CHannel spreads the myth, too

Last night I heard the following about "Reaganomics"

"It's fine if you believe in cutting taxes and not worrying about the future..defense spending..."

Is an example of the half truths that they spewed

Now for the whole truth from someone who was sentient and watching the fiasco.

The Reagan plan called for tasx AND spending cuts, but which branch of government has "the power of the purse" and what partly controlled that?. They did indeed pass the tax cuts BUT did not pass the budget cuts and the Reagan administration duelled them for 6 months living on "continuing resolutions" until in November 1981, they threw in the twoel. Even at that, the National Debt as a perscentage of the GDP shrank from 5 to 2.5 percent. So we did grow our way out of about half, but that was not the original plan. But guess who spend like drunken sailors.

Not to mention the record-setting tax increase of 1986 that Reagan was browbeaten into accepting by virtue of the fuss and threatened impeachment over the Contras issue (for which the CONgress ought to have been disbanded and about a dozen troublemakers executed by firing squad for treason: Dellums and Bowland to name two)

The 1986 edition of Miller's MACRO-ECONOMICS textbook had a page that quoted the Brookings Institute saying "...28% of the budget went for defense and 52% for social spending"

But then the HC has been devoting a lot of time to UFO's Cryptozoology, Conspiracy theories and other Coast to Coast crap, so what do you expect but more bad sci-fi/fantasy

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  • 11 months later...

This is just a taste of what we have coming from the MSM for the next four years. Everything bad that happens will be the fault of 8 years of Republican looting, plunder and de-regulation. Nothing bad that happens will be the result of the socialism that we'll be getting shoved up our backsides.

A little over a year and a half later, I'd say gags got an accurate reading from his crystal ball that day.

j..

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