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CNBC, the cable network that covers business and finance, is peddling some equity strategist’s dubious theory that last week’s three-day surge in stock market prices can mean only one thing: Investors think Mitt Romney is going to win the November election.
Wonkette’s Rebecca Schoenkopf snidely translates this nonsense thusly: “When the stock market goes down, that is because everyone hates the president, but when it goes up, that is because everyone hates the president.”
Schoenkopf also NOTES that the CNBC Web site actually hedges the bet in the 10th and 11th paragraphs of its story on the pro-Romney theory:
The conclusion, ...
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