Monday, August 11, 2008

Does He Mean Nasdaq or the NYSE?

This is ridiculous, even for an Obama supporter like Andrew Young...
And because Obama would be welcomed by global leaders, Young believes his presidency would have a dramatic beneficial impact in the United States.

“Nothing would have more impact on the economy and the price of oil than his election as president,” Young said. “There would be a boost of 1,000 points on the stock market the first week after he’s elected. This would be better than a chicken in every pot.”
John Edwards' claim in 2004 that people like Christopher Reeve would walk again if only John Kerry was President seems reasonable by comparison. And Jim Geraghty has a point for Mr. Young:
Obviously, stocks and markets rise or fall based on many, many factors. But I would note that the Dow Jones Industrial Average, closed on January 3, 2008, the day of the Iowa caucuses, at 13,056.72.

One day later, after Obama won the Iowa caucuses, it closed at 12,800.18.
Young would probably say that if Obama had lost, the Dow would have declined by even more.


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