The Stock Market Is Up 10.9% Since Romney Said the Market Would Be Unhappy at an Increasing Prospect of an Obama Victory
As the Silver probability of an Obama victory has moved from 60% to 75%, the market has gone up by 10.9%.
That is not stunning evidence for Romney's contention that his policies of tight money and Hooverish cuts in government spending programs will be loved by the stock market:
Mitt Romney, May 17, 2012:
[The markets] will probably be looking at what the polls are saying. If it looks like I'm going to win, the markets will be happy. If it looks like the president's going to win, the markets should not be terribly happy. It depends of course which markets you're talking about, which types of commodities and so forth, but my own view is that if we win on November 6th, there will be a great deal of optimism about the future of this country. We'll see capital come back and we'll see—without actually doing anything—we'll actually get a boost in the economy…