Stock Market Politics & the McCain Market Rally

I love when this happens:

In the beginning of the month, I jokingly referred to the market correction as The John McCain Market Selloff. I was — rather sarcastically, I thought — pre-empting the usual poor analysis that comes from partisan quarters.

Statements such as these are actually "tells;" They reveal a profound misunderstanding of how markets operate, and only serve to alert you to a persons political preferences. They provide no insight into the "preferences" of the markets.      

Rorschach Test


Previously:
The John McCain Market Selloff, March 07, 2008    http://bigpicture.typepad.com/comments/2008/03/the-john-mccain.html

Source:
McCain Market Rally?   
An
outlook on stock market politics, with Art Laffer, Laffer Investments;
Andrew Busch, BMO Capital Markets; Greg Valliere, Stanford Financial
Group; and CNBCs Larry Kudlow.

http://video.aol.com/video-detail/mccain-market-rally/1663336496

What's been said:

Discussions found on the web:
  1. donna commented on Mar 28

    Can Laffer please please just go away? I think he’s done quite enough damage to the well being of the less than rich American, thanks anyway.

  2. larster commented on Mar 28

    I shudder to think that their could be some people actually investing based upon their opinions. There should be some kind of disclaimer for Kudlow’s show ala Cramer or maybe something like the cigarette warnings- “using these recomendations could get you killed in the market”.

  3. Mark commented on Mar 28

    Kudlow , Laffer , and their complicit cronies know perfectly well that it’s ludicrous to link recent market movements to the relative polling positions of this or that presidential candidate.

    They also know that a sizeable segment of their listeners are brain-dead dittoheads , who will accept their propaganda without question and will be more likely to vote for McCain , and thus ( in the dreams of the Kudlow crowd )result in the THIRD coming of Herbert Hoover.

  4. Bob A commented on Mar 28

    When the market goes up it’s because of Republicans.

    When the market goes down it’s because of Democrats. And Pessimists.

    Everybody knows that.

  5. Douglas Watts commented on Mar 28

    Actually what we are seeing now is the Spiro Agnew bounce.

  6. Johnny Debacle commented on Mar 28

    http://online.wsj.com/article/SB120672890827072299.html?mod=hps_us_whats_news

    Stolen from Juggles on Twitter but UBS marking down their clients’ ARS….

    “UBS, however, using an internal model to value the securities, will mark them down this afternoon and inform clients via their online statements shortly thereafter, people familiar with the matter said. The markdowns will range from a few percentage points to more than 20%, the people said.”

  7. john commented on Mar 28

    Am I the only one that wants to see larry in a big purple hat, pimpin “Goldilocks” in times sq. baseless exuberance is forgivable , leading the sheep to slaughter isn’t , call it “knowing baseless exuberance”

  8. john commented on Mar 28

    Am I the only one that wants to see larry in a big purple hat, pimpin “Goldilocks” in times sq. baseless exuberance is forgivable , leading the sheep to slaughter isn’t , call it “knowing baseless exuberance”

  9. Billy Shears commented on Mar 28

    I’m surpised by the number of people who still watch CNBC regularly (even when Barry isn’t on). Bloomberg TV is slightly better (as far as content, not entertainment), but there are alternate sources for real news on the web. This site for example and a handful of others. Of course, the cheerleaders still outnumber the realists, but you don’t have to watch bubblevision.

    I confess, I do watch it during market meltdowns…but that’s all! Kind of like listening to the call-in radio show after a rival football team just lost a big game. It is kind of fun to hear the excuses and bad calls the refs made. In this case, it’s the short sellers and that darn uptick rule which is causing the market to fall.

  10. mark mchugh commented on Mar 28

    I watch for Michelle Caruso-Cabrera. She could sell me anything.

  11. la grande poussée commented on Mar 28

    No question, Bloomberg will be the channel of choice, at least for up to date people who can find better entertainment away from the business community. If I were you, I would get a permanent spot at Bloomberg – I’m a trader and it is what I listen to. You are very good at explaining things – It’s a waste to the wrong audience. Hang with smart people and become smarter, hang with Kudlow and sooner or later, you’ll be the greatest story never told. Also, if you get a chance maybe you could get Rick Santelli to work with you in front of the cameras from time to time.

  12. E commented on Mar 28

    “There’s a power outage in the Capitol. No power, no product. The Dow is up 120. Draw your own conclusions.”

    – Larry Kudlow, April 4, 2006

  13. cinefoz commented on Mar 29

    Al I know is that the market started it’s descent into Hell shortly after Kudlow stopped taking blog entries from readers. Fast Money in his old time spot sealed the deal. Coincidence? I think not. Blame him for all recent troubles.

  14. VennData commented on Mar 29

    How dare you people criticize John McCain, a Presidential candidate, during a time of war. He’s going to beat the pants off Barack Hussein bin’bama and of course that’s all Hillary wears is pants.

    McCain is going to continue the winning Bush economic program which means with each increase in military tensions, people will be encouraged to go out and shop. That’s why the market goes up.

  15. Blackswan commented on Mar 29

    I am a lifelong Republican who really has no policy differences with Larry Kudlow, however, I wish CNBC would replace him. He monopolizes the show and constantly talks over and interrupts his guests to the point where I think he’s becoming unglued. The poor man’s ego is out of control to put is charitably. Further, I want politics left at the door with stock market, economics, and current events discussed objectively from an investor’s point of view. I am keenly aware of the failure of the George W. and the congressional Republicans to deliver and will still support the Republican ticket, so I really don’t need the Larry Kudlows of the world trying to whitwash and distort the facts.

  16. Goeran commented on Mar 29

    McCain Market Rally?! This is ridiculous!

    Fox News, Chris Mathews, Kudlow – all I see is propaganda, propaganda, propaganda.

    Observing this from outside the U.S. I really get the impression that your country has turned into a “soft fascist” state.

    Not a place I feel comfortable anymore to invest my money.

  17. Tom B commented on Mar 31

    “Al I know is that the market started it’s descent into Hell shortly after Kudlow stopped taking blog entries from readers. ”

    It’s a key indicator: the more “comment-averse” a news piece, the more partisan/specious the piece is. Forbes is a big offender.