Wednesday, November 08, 2006

Dems good for markets?

The answer to that question: Yes, but there's something else at work.

Kos put up a table of the annualized stock returns for all presidents since Truman. The conclusion that was made was that Dems average a better stock return than the GOP.

Looking closer at that table, there are a couple of outliers, and they really stick out badly. Nixon and Bush the Lesser. The others from the GOP are right about at the average.

My explanation: the markets really hate autocratic executives that work to consolidate a huge amount of power into their own offices. And when the next one comes along and spreads the power out among all three branches, markets do well again.

So the answer is that Dems are good for markets, but only because the standard-bearers are not dictatorial assbags. Lesson: Democracy good, dictators bad. The American stock market only gives good returns when America is run by Americans, and not by conservatives. Conservatives who seek to consolidate power in the conservative class, enriching only themselves.

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