The stock market continued its horrible post-election crash Thursday:
Doug Ross tracked the Obama factor in the current market slide in this very interesting blog post–
If we zoom into the September-to-November timeframe, we’ll see something very enlightening. By late September it was increasingly clear to Intrade.com bettors that Obama was going to win the election. From 9/28 to 9/29 Obama’s Intrade price went from 57 to 61, which represented a huge jump… Around September 29th the market began its collapse.
Call it a crisis of confidence. Call it a Fannie-inspired meltdown. Call it what you will, but the markets appear to have reacted to Obama’s promises of economic “fairness”, “spreading the wealth” and raising taxes on the job creators of society.
Read the whole thing here.
Hypothetical question: who’s going to bail out the American taxpayer?