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Politics and Markets Update

Jeffrey Miller (March 6th, 2009) Writes:
CNBC news anchors have reached a new high in politicizing daily market reporting. Regular readers of A Dash are well aware of the danger of inferring causation when two events occur simultaneously.  In a market environment where we have intra-day moves of five percent, often with no apparent reason, it is silly to speculate about a gain or loss of 1%. Today's Example It is dangerous to confuse your political views with your investment decisions.  Most financial journalists do not distinguish between analyzing events and offering opinions.  Let us turn to today's example. President Obama was making a speech to the graduating class at a police academy in Columbus, Ohio.  While discussing today's terrible employment numbers, and the total job loss during the recession, he observed that the stimulus package had saved the jobs of this class.  Avoiding impending budget cuts in state and local government was part of the package for a simple ...

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