Tuesday, September 20, 2011

The Media Got It Wrong

The stock market took a dive yesterday morning. The headlines said it was because of worries over the financial situation in Europe.


The stock market's movement Monday morning was just a reflection of the futures market's movement Sunday afternoon. And that market took a dive immediately after the White House let out the information that President Barack Obama would be calling for $1.5 trillion in tax incraeses. I saw the graph showing that movement Sunday evening.

To put it as charitably as possible, the media got it wrong! The alternative choice is that the media deliberately lied to us.

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