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Stocks Surge, Drudge Ignores

Somehow I knew this would not be a headline on the Drudge Report today:

Stocks shoot higher on Citigroup profit news

For those who are not daily Drudge readers, he's had a habit of late of running headlines of plunging stocks and tying that news to recent moves by the Obama Administration. The result is to present a false cause-effect argument coupling the faltering economy to a President just 50 days on the job. So today we see a glimmer of good news and Drudge suddenyl doesn't think the market is all that important. Go figure.



Haha - i had this same conversation at the office today. ;-)
Though, sadly, I think we're on a rollercoaster right now and can't say i'm overly confident tomorrow won't be a down day again.

Oh yeah, I don't think it'll be all disco balls and cocaine from here on out, but the fact that all down days (on an actual day-to-day basis) are attributed to Obama while up days are not is hilarious to me.

Up days clearly illustrate the return to conservative economic principles! (You know, the same ones that got us into this mess...)

i will give some credit, drudge did highlight stock movement in the top left corner of his site. yes, he obviously de-emphasized any link to obama. i was wondering when a bounce was going to happen. citi lead the way with the memo, but prior to that, immelt from ge was doing a lot of pr to push a more positive position for ge over the weekend.

things could be mixed today. speculation will run rampant. a lot of it will look to thursday for retail and employment numbers which come out at noon. though, we could also see a little dip today because oil is dipping due to a report that there will be less us demand for it over the coming months, even though us stockpiles have been depleting.

Vit, what's funny about all this is that we're now hyper-focused on day-to-day fluxuation in the market as if that is any indicator of anything more than what ahppened THAT day and then how it was precipitated by the Obama administration's policy. I would argue that 25 years of deregulation and 8 years of targeted tax cuts at the top (allowing the already rich to over-extend themselves) had more to do with today's economy than the various statements and policy moves Obama has made in the last 50 days.

Not that you're saying anything different...

believe me, i've been been fixated on the day-to-day activities of the markets tracing back to my college days, and even more obsessed about them since i've been able to get market data with a slight delay on yahoo finance. i remember the day i could be able to see it in real time. now, i have that and constant opinion pieces by the likes of barry rithotlz. i love it.

there's a lot to blame for the current state of the economy that goes to so many levels of both financial markets and government. though, the roots all trace back to the anathema that is the chicago school of economics and their patriarch milton friendman.

isn't it funny, the two major schools of thought (neoconservatism and the chicago school of economics) that have emerged from the university of chicago over the past half century have proven to be culpable for the economic morass we find ourselves in today?

the market's reaction has absolutely nothing and everything to do with the policy moves obama makes. the old guard is shaking in it's boots as to how far the pendulum will swing back toward progressivism. to policies that benefit a stronger middle class. so, even without action by obama that directly correlates to any driving force, it's the mere thought of what his policies hold one day for how the markets are run that effect it so greatly.

on a side note, i've always found it fascinating (and now find it refreshing that it's a talking point of the left on television talking head shows) that conservatives that purport a laissez-fair economic philosophy have little problem finding ways to circumvent the tenants of the philosophy they champion by finding ways to induce stimulus into an economy through increased military spending or through manipulation of the monetary policy .

what gets my rancor the most is all the wingnut on the right championing amity shale's book in which she blames the great depression on fdr. whatever.

here's a few quick things to get some normalcy back into the u.s. markets... bring back the uptick rule, ban all naked short selling, and have greater oversight by the sec. the shit has been crazy lately.

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