this is asinine. The Dow is in the toilet because the economy is in the toilet. The Dow has steadily dropped all year, but in September it began taking catastrophic dives.
If McCain was elected, the situation would likely be just as grim. If Bush had 2 more years the situation would be grim. It has little to do with the election or policies not enacted yet by a President who hasn’t taken office yet.
To blame this on an election is basically saying the market and democracy are incompatible, because wall street will throw a hissyfit if their agenda and their people aren’t elected.
The market and Democracy are incompatible. You need only look as far as what is happening in Detroit to the "Big Three" to see clear evidence of this fact. Simply because a majority of a group of people think the market will accept their product, regardless of quality or cost, does not mean that the market will find that product acceptable.
I, for one, am very thankful that we do not live in a Democracy.
Federalism ain't dead (yet)....
Agreed.
People are forgetting which is the dog and which is the tail, and it's politics that reacts to markets and not the other way around. OK, we hear (supposedly) intelligent people like Rush saying "screw the markets", but while politics is all well and good it has its place. Sometimes I think the way these political hacks strut that it's like hearing religious freaks ranting.