Friday, January 04, 2008

Did the market want Romney?

Hewitt appears to think so:

The market is tanking, allegedly because of the jobs report, with the Dow down 244 and the NASDAQ off 92 (3.5%) at this writing.

How much of the decline is due to the investor class rejecting the idea that any good news comes out of either Obama-McCain or Obama-Huckabee? Neither matches up well against the youthful, "politics-of-hope" Illinois populist with Oprah at his side. Both Senator McCain and Governor Huckabee are identity politicians who leave part of the Reagan-Bush coalition cold without adding any significant new groups to make up for their loss.