LOL! Maybe the politicans can do a better job running LTCM.
US SENATE GOP: DO CLINTON'S MONICA WOES IMPERIL WORLD MARKETS?
--Republican Policy Memo Probes The 'Monica Market'
By John Shaw
WASHINGTON (MktNews) - In a policy memo that makes the Laffer curve look like astrophysics, Senate Republicans have reduced the baffling complexities of the world's economic woes to one epic force: Monica Lewinsky.
The memo traces the stock market's 1998 volatility, noting that in 11 of the last 18 sessions the Dow Jones Industrial Average has moved one percent or more. It further notes that in 61 days this year the market has moved by at least one percent.
"While obviously many factors affect the financial markets on a day to day basis, also obvious -- particularly since August -- is that the President's predicament has been one of them," the memo says.
Charting the trajectory of the Dow Jones against the backdrop of the Clinton scandal, the Senate GOP memo argues that "even over the course of the year's entirety, the market's performance has broadly tracked the predicament of President Clinton."
The memo sets out a timeline for such historic events as "the Story Breaks," "Susan McDougal released from prison," "Lewinksy granted immunity", "Lewinsky turns over physical evidence" and "Clinton admits to 'inappropriate relationship'" and links them to swoons in the market.
"It is a legitimate concern that President Clinton's past, current and potentially perpetual problems will serve to undermine an already weakened American economy and even weaker global one," it says.
"Rather than the 'bull' or 'bear' market, do we face a 'Monica market,' hallmarked by dramatic and discomforting volatility?" the
memo questions.
** Market News International ** |
