Markets Plunge As Obamamania Subsides
Seriously, what is up with you "investors?" Yesterday, as everyone anticipated an Obama victory, the Dow Jones Industrial Average soared more than 300 points. Now that everyone is sure Obama will be the next President, the Dow has dropped almost 500 points. Make up your mind, people. The Wall Street Journal's analysis: "glum readings of service sector activity and employment" combined with a generally poor economic outlook combined with hedge funds selling off holdings to raise cash in anticipation of investors pulling their money out. The quick and dirty Yahoo Finance analysis: "The decline was driven by profit taking, and discouraging economic data on employment and the services sector." Our analysis: a bunch of real suckers went wild yesterday buying stuff up cause they love Obama. Now it's settling in that hey, he won't even be in office for another three months and even when does get there, he still has to deal with the same shitty economy we have today. So then they all were like, "Sell!" Or maybe they're all Republicans.