Andy
Well-Known Member
- Joined
- Jan 6, 2008
- Messages
- 3,497
I had a chuckle at this new post. Now tell me this isn't "spin". I'd love to hear your theory as to how it isn't.
Starting from Nov 3rd, the dow industrial average was $9,625. Aside from a relatively steady decline in value, plus three sharp drops after the election, the inauguration, and the pass of the stimulus bill, by Feb 24th, the dow industrial average is now $7,114. So despite the coming messiah, and he lefty buddies in congress, the market has lost 2511 points.
However, after a Federal Reserve Chairmen said that banks would lose value if they were nationalized, the dow industrial average went 'up' to $7,350... or a 3% increase. So we're down 2275 points from just four months go, but up a mere 236 points from yesterday. Now how do you think the mass media press will cover this tiny ripple in the falling tide?
Banks SOAR as Bernanke calms nationalization fears!
Yes of course! This is great! The stimulus is working! The bailouts are saving jobs! The wars are all over! The messiah has come! Oh it can't get any better! The market is up a WHOOPING 3%!! \o/ Praise the Barack! \o/
Now I don't know what the market will do. Perhaps it will rebound, perhaps it won't. One thing I do know is that whatever Bernanke says, doesn't make a bit of difference in the world. The feds do whatever they want, when they want, how they want, and nothing some chairmen of the federal reserve says means a hill of beans.
They're input never stopped bad policy in the past, and certainly won't now. Nevertheless the point is, isn't it funny how easily the news can be slanted one way or another depending on who's in office?
Starting from Nov 3rd, the dow industrial average was $9,625. Aside from a relatively steady decline in value, plus three sharp drops after the election, the inauguration, and the pass of the stimulus bill, by Feb 24th, the dow industrial average is now $7,114. So despite the coming messiah, and he lefty buddies in congress, the market has lost 2511 points.
However, after a Federal Reserve Chairmen said that banks would lose value if they were nationalized, the dow industrial average went 'up' to $7,350... or a 3% increase. So we're down 2275 points from just four months go, but up a mere 236 points from yesterday. Now how do you think the mass media press will cover this tiny ripple in the falling tide?
Banks SOAR as Bernanke calms nationalization fears!
Yes of course! This is great! The stimulus is working! The bailouts are saving jobs! The wars are all over! The messiah has come! Oh it can't get any better! The market is up a WHOOPING 3%!! \o/ Praise the Barack! \o/
Now I don't know what the market will do. Perhaps it will rebound, perhaps it won't. One thing I do know is that whatever Bernanke says, doesn't make a bit of difference in the world. The feds do whatever they want, when they want, how they want, and nothing some chairmen of the federal reserve says means a hill of beans.
They're input never stopped bad policy in the past, and certainly won't now. Nevertheless the point is, isn't it funny how easily the news can be slanted one way or another depending on who's in office?
