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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (148229)7/14/2002 7:39:59 PM
From: i-node  Read Replies (4) of 1575808
 
And let me show how stupid this administration is..........They do not have a clue that investors are freaked easily nowadays, and every negative word out of the president's mouth scares the bejezus out those investors.

You have totally misinterpreted what is happening in this respect. I think the administration, correctly, realizes that any effect his statements have on the markets are insubstantial at this point. He's not going to say anything that has influence on the markets beyond the moment, and they know it.

In the 90s we saw a president that measured precisely the political consquences of every statement and acted accordingly. This president is at the other end of the spectrum. He does what he thinks is right and the political (or market) consequences, well, they just don't matter to him. One of my great criticisms of the previous adminstration was the degree to which polls influenced his decisions (which, unfortunately, leads to horrible decisions about running government). As a result, I'm very pleased to see a president base his policy on right/wrong rather than the poll of the day. The same concept generally applies to trying to have or avoid impact on the markets.

A president's speech, for the most part, has only a transitory effect on the markets -- so it really doesn't matter. If that makes the administration "stupid" by your measure, then your criteria aren't very meaningful.
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