Tuesday, November 25, 2008

Dow drops, blame Orszag or Vick?

The Dow Jones has seen modest, yet steady decreases today after the highest two day gain in 20 years.  On her show last night, Rachel Maddow proposed that Obama's nomination of his economic advisors had inspired confidence in the market. Today, Obama named Peter Orszag to be his new budget chief. 

My question:  If Maddow's theory is correct, why hasn't the Orszag nomination inspire a market spike today?

My answer: Michael Vick is back in the headlines, pleading guilty to dog fighting charges in Virginia.  We can't have animal cruelty news infiltrating the media in times of economic crisis.   Dog fighting gives people bad vibes.  Bad vibes keep people from investing.  Would you invest in Alpo or Pedigree if you had just read a headline about Michael Vick?

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