Markets Are Booing McCain's VP Choice

Investor's Business Daily ^ | 2008-09-05 | John Tamny

[rabscuttle385]

Alongside last Friday's announcement that Alaska Gov. Sarah Palin would be John McCain's running mate, the Dow Jones industrial average fell 170 points. Stocks have shown weakness ever since.

While there are many factors that move markets, a looming electoral contest between a tax-hiking Democrat versus a nominally pro-growth Republican surely weighs heavily on market psyche. It says here that the markets concluded that whatever John McCain's true economic views, he has handed the election to the anti-growth candidate with his selection of Palin.

Stocks were presumably booing a running-mate choice that will greatly aid Barack Obama's election in November. Running against a candidate suddenly much less credible thanks to the Palin selection, Obama will now have much less reason to temper the liberal rhetoric that's put him within striking distance of the White House.

[rabscuttle385]

For economic libertarians already skeptical about his pro-growth bona fides, McCain's selection of an unknown when it comes to policy for the nation's second highest office is evidence that he'll say and do anything to get elected; his true views to be determined.

So basically...McCain is still McCain?

[jerry557]

Market is being effected mainly right now by speculation that the jobs report is going to be bad. And retailers are reporting that “back-to-school” sales were sluggish this year.

[snarkytart]

Exactly.
lol

[goldstategop]

If they want a tax and spend socialist, they have no right to complain about confiscatory taxes and oppressive regulation in the future.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[JennysCool]

Err, dude, you’re posting an article from last Friday.

Lots has happened since then.

Check your calendar.

[a_chronic_whiner]

yawn. nothing to see here.

[eclecticEel]

Wow, just wow.

When I heard a news report earlier today that the markets were a little down I jokingly thought some idjet was going to rush out and blame Palin for it - then I dismissed the idea as absurd, no one is that blatantly and illogically partisan. Unfortunately, I was wrong on that score.

[hsalaw]

True. I would have expected better from IBD.

[rabscuttle385]

Ping! Give this article a look over. The author is somewhat long-winded and disorganized but makes some good points. Since Palin is not your average Beltway insider (unlike McCain, Obama, and Biden), there are a lot of unknowns, and it's hard to fill in the blanks with all the spin and disinformation flying around. Hopefully things will become clearer as the dust settles.

[JennysCool]

Oops. My mistake!

I’m ahead of my time.

Gotta get that calendar fixed!

[snarkytart]

Ah, you’re not a fan of Palin, huh?

[FocusNexus]

What happened to IBD?

They used to have such sensible editorials, now they are competing with the stupidity and bias of the MSM.

[cherry]

but McCain has increased the risk of a major hurricane hitting the Norleans coast because of his selection of SP for vp ( now THAT is catchy!) AND lets not forgot about the poor apple crop this year.

[rabscuttle385]

Err, dude, you’re posting an article from last Friday.

Today is 09/05/2008. The article is dated 09/04/2008, after market closing, and will likely appear in today's edition. Would you like me to check for you when the paper shows up at my doorstep in a few hours?

[stripes1776]

a looming electoral contest between a tax-hiking Democrat versus a nominally pro-growth Republican surely weighs heavily on market psyche. It says here that the markets concluded that whatever John McCain's true economic views, he has handed the election to the anti-growth candidate with his selection of Palin.

Rather than asking the markets, has it ever occurred to anyone to actually ask the people who are making the trades why they are selling or buying?

[mbraynard]

Dumbest analysis ever. Right up there with Astrology and palm reading.

[TheWasteLand]

In putting Sarah Palin potentially one heartbeat from the presidency, John McCain has for all his great service to this country shown an impressive disrespect for the same country's highest office with this cynical gimmick.

For a second, I thought I was reading Daily Kos. What is this crap?

[AlexW]

While I was never a big fan of McCain, this article is stupid.
Crying morons.

[FocusNexus]

This is so stupid.

I watch CNBC on some mornings, and frequently catch CEOs and mutual fund managers express serious concern about the negative impacts of an Obama presidency with a Dem Congress would have on the economy and markets with their plans for higher taxes and more regulations.

[rabscuttle385]

Ah, you’re not a fan of Palin, huh?

If by that you mean that I haven't blindly pledged my allegiance to her, than yes.

Right now, she appears very good, and I think that she'll pass all the tests in the end. But, since McCain announced her as his pick, all sorts of stuff has been flying around, some conflicting, some spotty, and others in the middle.

I'll wait and see. At first blush, she's one helluva conservative and provides hope for a bright future to the conservative wing of the GOP. But, I'd rather perform some due diligence before casting a vote, if you don't mind.