DOW Jones nearing 10,000 - RedState approves: "a barometer of where people who invest real money think the economy is headed"
Thursday, October 15, 2009
Looks like the Dow is about to hit 10,000. What do Obama's opponents have to say about the stock market? Let's see what RedState.com says about the numbers on the Dow and what they mean. Back in March when the Dow was at a record low they were all about the stock market as an unbiased predictor of the economy.
Post 1 - the Dow is a truth-teller.
Post 2 - the market is a leading indicator.
Post 3 - the stock market is saying that with Obama in office the outlook is poor.
Gotcha. The Dow is of paramount importance, it's a barometer of the economy, it can't be swayed, doesn't need anger management classes. I think this means we can expect a very positive post on RedState today or the next day if the Dow hits 10,000. After all, being negative about the administration when the numbers are down but not being positive when the same numbers go up would be intellectually inconsistent.
PS this post is sarcasm.
5 comments:
It's not like the Dow should really be considered a barometer of economic health anyway. All it does is track the stock prices of a handful of big companies. The stock market is going up now, but that doesn't mean things are getting better for most workers and families. It just means the market expects somewhat normal growth over the next two years, growth that won't be enough to dent the unemployment rate.
Yes, exactly.
The anger management classes line was good, by the way.
It's not like the Dow should really be considered a barometer of economic health anyway. All it does is track the stock prices of a handful of big companies. The stock market is going up now, but that doesn't mean things are getting better for most workers and families. It just means the market expects somewhat normal growth over the next two years, growth that won't be enough to dent the unemployment rate.
Yes, exactly.
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