As Jon Stewart so eloquently pointed out, when the stock market was slumping, a number of talking heads blamed it on President Obama. While it was overwhelmed by the hype about his takedown of CNBC, The Dow Knows All was one of the funniest Daily Show segments I’d seen in some time. It’s short–follow the link above. Even if you just see the first minute and a half, you’ll laugh.
This week, the stock market has rocketed back up by several percentage points. Will the same pundits (many of them from Fox) praise Obama for bringing this about? Or will they be strangely silent?
To be clear, I don’t think that the media should link short-term stock market changes, be they positive or negative, to daily politics. As Stewart pointed out, the stock market is useful as a rough indicator of the health of the economy when viewed in the long term. But different indexes focus on different sectors, and it is in no way a daily register of the strength of the economy or a judgement on political events of the day.
But hey, when has logic and reasoning ever stopped pundits? So vote below!