November 08, 2006
Democrats Win, Markets TankAmericans voted yesterday. The markets vote today. Futures indicate what many know to be true: Democratic priorities like higher taxes and more regulation are bad for the economy.
U.S. stock market futures fell on Wednesday as Wall Street expressed disappointment that Democrats took control of the House of Representatives for the first time in 12 years, and the possibility that they would control the Senate as well.The sound of "Ways and Means Chairman Rangel" is very bad news for the economy.S&P 500 futures fell 5.10 points at 1,383.90 and Nasdaq 100 futures shed 6.75 points at 1,745.00. Dow industrial futures slumped 25 points to 12,163.
Posted by Jonathan R. on November 8, 2006 08:41 AM
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Yes... They tanked... Sure looks that way...
Posted by: NovaNardis at November 8, 2006 10:56 AM
NEW YORK - Wall Street rose for a third straight session Wednesday, with the Dow Jones industrials reaching another record close as investors grew more confident that a huge victory by Democrats in congressional elections would result in gridlock and keep lawmakers out of the way of business interests.
Posted by: Sean at November 8, 2006 05:11 PM
WRONG!
Markets ended on a "UP" note. See... SMEAR AND FEAR WON'T WORK THIS YEAR.
Guess Karl Rove is going to have to find a new line to tote... or actually, a new job after this GOP disaster.
Posted by: hotkey at November 9, 2006 02:12 PM
I would argue that "very bad news for the economy" is, say, the Bush administration's creation of the largest budget deficit in US history.
Quite frankly, someone needs to regulate what's going on, otherwise one day you're going to wake up to China repossessing your house... ;)
http://www.uuforum.org/deficit.htm
Posted by: Mik at November 10, 2006 02:21 AM
So you think that the fact that big business dislikes the Democrats proves they are bad news for the economy? Two reasons why that statement is stupid:
1. Of course they hate the Democrats, they're big time employers who gain from the GOPs tax subsidies, that their employees pay for. Would they support them even if they were right?
2. Big Business hated the New Deal, and every
other successful Democratic economic initiative - therefore, big business is hardly the person to ask about democratic policies, unless you're a GOP circle jerker
P.S. I would stop using Tom DeLay's testimonials for your propaganda books if I were you
Posted by: Ben at November 10, 2006 04:56 AM
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