Skip to comments.Media Attacking Allen West for Stock Market Comment
Posted on 03/18/2012 4:11:50 PM PDT by Kaslin
Always interesting what the media chooses to comment on, isn't it? Outlets are going after Allen West for his recent comment that he thinks the market is doing better because of the potential for a GOP candidate in the White House this November.
The New Times Broward-Palm Beach-- which, by the way, has started an "Allen West Fact Party series, in which we take claims made by the District 22 Republican and attempt to figure out whether they have a basis in reality" (thought: do they have one for Debbie Wasserman Schultz? The articles I found on her from the outlets seem to all make excuses for how some of her statements are really just misunderstood or aren't as dumb as the Republicans)--had two analysts break down West's comments, and found one who (surprise) actually thought West could be on to something.
The Maddow Blog, meanwhile, had an entry that provided additional analysis supporting the Democrats on this, including a Bloomberg chart that showed stock investors benefited more under Democrat administrations. It's based on Standard and Poor's 500 Index, which is ironic since S&P also downgraded the U.S. credit rating for the first time in history under a Democrat administration. I guess this story could be spun several ways, but, as the Bloomberg article points out, who's the party of Wall Street now?
Here's West's comments that started the whole thing. Listen and decide for yourself:
Allen West Explains Away Bullish Stock Market
I wonder if the media slime bags know where the sun don't shine?
Absolutely the stock market is seeing the glass half full with Obamer in such trouble.
Here’s what I know....the day AFTER the election, with Obamer as winner, will cause the market to crash. I believe this. Predict 300 point plus drop, don’t know if this is Clash territory but the stock market won’t be happy.
If a Republican wins, conversely, the stock market will take a big growth .
For now, the stock market chugs along, doing okay for a doldrums economic environment. But there’s a lot of investory money out there and many are getting holes in their pockets.
All depending on this next election....
I have no doubt that Congressman West can handle himself quite well against these dregs of humanity.
Too bad his district is being subdivided.
Media “Fact Sheets” on Republican Conservatives - wow what an original idea!
Here in the conservative 6th Congressional District - MN, our local paper never misses a beat when covering Michele Bachmann. They are certain to have a negative headline for her by hook or by crook. Periodically they write about her so-called factual errors. I have yet to see any article alerting us to the nonsensical stands and statements given by Al Franken.
I trade for a living and the market tanked 23% in the 3 weeks following President Oblamer’s election on Nov 4 2008.
This was AFTER the financial collapse first hit the market and during those 3 weeks there were no more Lehman crises, etc. (only the news that a Socialist who hates capitalism had won).
I remember how pathetic it was that the media didn’t even make a peep about the possibility that smart capital was leaving America because President Obama Marx was elected.
Capital - smart or otherwise - seems to have returned.
Since March 2009, six weeks after Obama took office, the S&P 500 is up more than 100%.
Good point, but that’s because of 2 things:
1) Companies got rid of dead wood in order to survive. Company productivity (more profit with less labor) and profits are very good — for the companies that are still in business and publicly traded.
2) Interest rates went lower and lower, so there is no place to put capital to work but in the markets with QE 1 and QE2
I realize you’re trying to play Devil’s advocate, but the stock market rise now isn’t necessarily a function of market confidence in Obama.
It is, as you say, a profit story, which implies to me that current USA corporate management may be the finest in world history.
I have never been more bewildered by a market or an economy.
Everything I have learned for 50 years has been stood on its head.
Record government spending and debt, record money printing, record low interest rates and moderate inflation, unpayable bank and mortgage guarantees, and unpayable liabilities like Social Security, Medicare, and government pensions.
How can this not end in a catastrophe?
Yes, at some point, the dollar will collapse because the US is bankrupt. That means imported oil will cost much more relative to our dollar. So we’ll see hyperinflation.
The country’s broke - no matter who gets in, that stays the same. Within two years after the election, the piper will have to be paid...