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Goldfish are said to have 3 second memories.
(Sweet Goldfish movie)

I very much doubt the media's is that long. Otherwise you would think we would stop using the Dow as an oppinion poll. THE DOW IS NOT AN OPINION POLL!

It's a magic 8 Ball.

You're better off choosing your lotto numbers by the index values than you are the outcomes of, or appetite for, complex financial policies.

Today is a case in point: (After the jump)

Washington Post, February 15, 2009: Disappointment Over Bailout Drives Losses

First Paragraph:

U.S. stocks fell last week after Treasury Secretary Timothy F. Geithner failed to convince investors that his bank rescue will work.

Washington Post March 23, 2009: The obliquely named -- U.S. to Help Investors Buy Bank Assets  

First Paragraph:

Financial markets roared ahead yesterday as investors reacted with near-euphoria to the Obama administration's new trillion-dollar plan to stabilize banks by relieving them of their troubled assets and risky loans.

Emphasis added

That the Dow is at best a pulse "Yep, there's still a Dow Jones Industrial Average...."  

Hey Media, remember when you were constantly judging individual actions of the government in the middle of a crisis, while markets had some of the highest volatility ratings ever recorded?

I didn't think so... It has been more than 3 seconds after all.

Originally posted to AveryProg on Mon Mar 23, 2009 at 09:01 PM PDT.

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