Thursday, November 6, 2008

I didn't know the Dow had 1,000 points left to drop

Since the Rise of Dear Leader the Market has lost over 900 points. Two quick points.

1. If the market had done this after a McCain win, does anyone doubt the story would be "Market uneasy with upcoming Administration?"

2. That being said, I would've assumed, since Obama wasn't a surprise winner, that the market had already accounted for the New Order before Tuesday. Between this and Russia's saber-rattling, there will be no learning curve for the new guys, no matter how happy Ahmadinejad is about the resuts. (Incidentally, as a rule, if Iran is happy with it, I'm not.)

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