Here are some rules from Conservativeland when it comes to economic policy and the stock market:
- The stock market reacts to the news coming out of Washington and nothing else. If the market is going down, it’s because the entire financial sector disapproves of Washington’s economic policies.
- Subsequently, the President of the United States is singlehandedly responsible for the performance of the stock market. There is a direct correlation between the President’s speeches/actions on any given day and how the stock market performs on that day.
- The stock market is the only worthwhile measure of economic success. No other factor (the unemployment rate, inflation, GDP growth/loss, etc.) is even worth measuring or considering.
Now that a Democrat is in the White House, those are the rules governing how Republicans talk about the economy. Kinda ridiculous when you actually sit down and spell them out, aren’t they?