Last night the financial market elites (not individual folks) freaked out when they figured out their media got it all wrong, and Donald Trump was going to win. The cool kids were anti-Trump, because they watch CNN (or worse). The stock market futures markets were tanking. The liberal news media reported the crap out of it, feeding the fear and making it worse (which they constantly deny doing, but that’s another lie and a story for another article).
So financial channel CNBC chimed in this morning with this great investment advice:
Market to fall 6% on 'heightened volatility' due to Trump win, BofAML says https://t.co/OZtWn6QRnm via @cnbcpro
— CNBC (@CNBC) November 9, 2016
They weren’t the only ones. Lots of media reported on the inevitable collapse of the markets — due to “Trump.” Based on nothing. I think they just hoped it was true, for purely political reasons. It’s a bandwagon effect in action, and at its worst. Here’s the state-owned CBC’s effort at left-splaining financial markets (always gives me a chuckle). Note the photo of the guy looking like he’s about to jump out the window — which is so stupid given the Liberals’ new assisted suicide endorsement:
Trump victory sends shock to financial markets and stocks tumbling https://t.co/pXUPASOUYu pic.twitter.com/HxXPYMdUuR
— CBC British Columbia (@cbcnewsbc) November 9, 2016
So today it must have been much like a miserable dose of déjà vu — like watching the election results on MSNBC last night — as the market today opened steady, then rose, then went higher, then went higher, then broke the record high, and then finally closed way up.
Dow closes up 250 points, short of record levels; financials surge after Trump election upset https://t.co/PBPmABNu39 pic.twitter.com/Hb0d3px5iB
— CNBC (@CNBC) November 9, 2016
The CBC account which tried to freak us out earlier in the day, never bothered to cover the rise in the markets — not even the rise in the Toronto market which was as great.
I feel sorry for the folks who freaked out, were concerned and mislead, or even lost their shirts simply because so many liberals chose to toe to the liberal propaganda line rather than appealing to common sense and reason, and facts, enabling them to offer good, sound advice.
UPDATE: A late addition to my observations:
Media pronounces a market apocalypse yesterday and today the Dow hits all-time high. What else did hey get wrong? https://t.co/hcxzr0WllJ
— Donald Trump Jr. (@DonaldJTrumpJr) November 10, 2016
PTBC was founded by Mr. Johannesen in 2000.
Contact Mr. Johannesen about this article using this form. Please refer to article's title.
FOLLOW @JoelJohannesen ON X!
- Say something. - Friday October 25, 2024 at 6:03 pm
- Keep going, or veer right - Monday August 26, 2024 at 4:30 pm
- Hey Joel, what is “progressive?” - Friday August 2, 2024 at 11:32 am
