Tuesday, October 8, 2013

Stocks Fall Nearly 1% Thanks To John Boehner's Sunday Talk About Default

During the 2008 financial meltdown, as stocks plunged, Fox News would regularly show what the stock market was doing when President-elect Obama spoke.  Its suggestion and sometimes explicit claim was that the President and his policies were harmful to stock values.  Fox gave up this ploy shortly after stocks hit bottom in March 2009 and began the biggest bull run in market history.

Given that history, Fox should start showing the stock markets movement when John Boehner speaks. As CNBC wrote on Monday morning before the markets opened: 

"Mr Boehner's latest comments have unsettled investors with the S&P 500 expected to open lower on Monday, following falls in European and Asian stock markets."

Indeed, Boehner did talk down stock values, with the DOW falling 136 points and the NASDAQ doing worse than the DOW in Monday trading.

Speaker Boehner will have to choose between the radical GOP he leads and the country's economic and financial stability. Right now, I am scared about which direction Boehner will go.  Indeed, investors around the world are growing scared of Boehner and the radical GOP House caucus.

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