3.27.2009

The Obama Rally Begins

Bonddad is an expert. He's not simply a 'left-wing blogger.' He knows his shit, he know the market. He's one of those who was warning about a major market collapse 2 years ago. He's work is so detailed that at times my eyes glaze over. But his overall themes have been clear and when he says something, it's undoubtedly true.

From DKos' Bonddad:

Since early March the market has rallied over 20%. Yet -- for some strange reason -- the right wings blogs who professed doom at every opportunity then the market was dropping are now silent. Little Green Footballs -- who posted daily articles on the dow dropping -- has yet to comment on this rally. John Hawkins of Right Wing News -- who wrote an article titled "Is Obama Trying to Crash the Economy -- has been strangely silent. Powerline -- who are without a doubt economic titans of the highest order -- have not said a word. National Review has yet to comment on this rally -- even though I am sure they are happy to see it. After all, markets are good, right?

[snip]

...there are a host right wing yahoos who at every turn talked about the market dropping over the last few months. Yet none have said anything about the rally. The reason is simple: they know squat about how the market works. One commenter to a previous story went so far as to blame the then latest drop entirely on Obama but failed to perform the same analysis on the 2007-2008 drop because "Bush did too good a job healing the economy". Talk about mental gymnastics.

[snip]

So to the right wing blogs, yahoos and commentators who think the Dow is the ultimate arbiter of the economy, what say you now?

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