Dow drops to 5 year low after speech

elSicomoro · 07-11-2002, 10:01 AM

You're right UT...the stock market shouldn't be tied to a president's success or failure. But we know that inevitably it will be...Dubya's dad is a perfect example. And one of the polls I've seen shows Dubya's handling of the economy at a 55% approval rating right now.

And why? Probably because most folks aren't intelligent enough on how our economy really works. Granted, there are some folks that are influential in how the economy plays (Greenspan, the Secretaries of Commerce, Treasury, Agriculture, etc.), but there are so many factors to consider that it seems impossible to point the finger at one source. For that matter, blaming the current situation solely on companies like Enron, Global Crossing, WorldCom, etc. seems silly.

It's all about the mindfuck. I don't want to deny the Stock Market the importance that it plays in our economy, but it's so amped on the psychology of all the players involved in trading, analyzing, etc. Let the market ride its highs and lows as it should...the results of the past 20 years speak for themselves...and it can't be due to just sheer hype.

07-11-2002, 10:01 AM	#4
elSicomoro Person who doesn't update the user title Join Date: Jan 2001 Posts: 12,486	You're right UT...the stock market shouldn't be tied to a president's success or failure. But we know that inevitably it will be...Dubya's dad is a perfect example. And one of the polls I've seen shows Dubya's handling of the economy at a 55% approval rating right now. And why? Probably because most folks aren't intelligent enough on how our economy really works. Granted, there are some folks that are influential in how the economy plays (Greenspan, the Secretaries of Commerce, Treasury, Agriculture, etc.), but there are so many factors to consider that it seems impossible to point the finger at one source. For that matter, blaming the current situation solely on companies like Enron, Global Crossing, WorldCom, etc. seems silly. It's all about the mindfuck. I don't want to deny the Stock Market the importance that it plays in our economy, but it's so amped on the psychology of all the players involved in trading, analyzing, etc. Let the market ride its highs and lows as it should...the results of the past 20 years speak for themselves...and it can't be due to just sheer hype. Last edited by elSicomoro; 07-11-2002 at 10:08 AM.

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