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I draw that you don't know anything about equity markets.
So please enlighten us. Why are stock markets soaring this morning when every GOTP operative is shrieking that the cliff-avoidance deal will ruin the economy?
So please enlighten us. Why are stock markets soaring this morning when every GOTP operative is shrieking that the cliff-avoidance deal will ruin the economy?
Because a bunch of Big Banks in Manhatten are bidding up the price of equities: pretty simple.
Stock market is simply re-adjusting to reflect the uncertainty of the cliff. It's not "soaring" per se, it's simply correcting itself to it's appropriate level to correct for the previous effects of uncertainty that were bring the market down.
The DOW is not even a major part of the economy. It is a subset of a subset of actively traded companies.
And yet when the Dow slumped late last year, every GOTP shill and her brother was insisting it was all Obama's fault and yet another sign of impending collapse.
And yet when the Dow slumped late last year, every GOTP shill and her brother was insisting it was all Obama's fault and yet another sign of impending collapse.
Thanks for setting them straight.
Only 30 companies comprise the DOW and it isn't even a price, despite the fact it's denominated in dollars. It's an index. A better indicator is the S&P500.
Only 30 companies comprise the DOW and it isn't even a price, despite the fact it's denominated in dollars. It's an index. A better indicator is the S&P500.
... which is up nearly 2% so far today.
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