Thursday, March 5, 2009

Version II

2 comments:

Anonymous said...

I am well aware that anyone who thinks this is 1) clever or 2) relevant would not be caught dead watching something as pedestrian as the Daily Show (Stewart and his 'facts'... what an ass...) BUT last night there was an incredibly poignant vignette about the absurdity of using the DOW as an indicator of any president's (or world event, it doesnt matter)performance. Are you aware:

- DOW tanked after Truman announced victory in WWII? Yeah, that was a bad day....

- DOW tanked after inauguration of GOP hero Reagan?

- DOW rises the day of the Titanic's sinking? There's a great day for some small-cap gains...

And on and on.

So... are we willing to accept that Obama has nothing to do with the DOW, and that in fact a 60+% approval rating in the face of economic meltdown means he just might know something that you don't? Or have we been listening to Sean Hannity too long to be su sceptible to 'factual reality'?

Marty Heflin said...

Hmm... Jon Stewart, a comedian, as a source for economic policy. I hadn't thought of that! The one day vignettes of Dow performance are also cute. The Dow is a forward looking indicator - it is a prediction of how investors feel a business will perform. Given Obama's penchant for wanting to destroy business, investors are getting out. BTW, it is also a forward looking indicator for a President's popularity. So when the honeymoon and the drugs wear off and America comes to grips with what this man has done to them, the ratings will fall. No, he IS responsible for this - the precipitous fall began right after he took the lead in the polls and it hasn't stopped.

It will turn around at some level...4000? Simply because there's nowhere else to go. Then, I am sure Mr. "Profits and Expense" ratio will take the credit.