My personal musings about anything that gets on my radar screen--heavily dominated by politics.


Again With The Economics of Emotion

Yesterday, based on strong earnings numbers, the stock market fell sharply; so today, on solid if not spectacular GDP news, the stock market again fell sharply; this after last week when the stock market fell sharply after Greenspan spoke optimistically about the economic recovery.

Please--and I'm not just saying this here--somebody explain to me the psychology of the investor class. Sure, I get that fear about the prime lending rate is driving this; what I don't get is how continued good news is only met with fear.

It's like being in the Democratic National Committee.

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