World Stock Prices Plunge Following Bernanke's Reappointment

I haven't seen that headline. Maybe we should ask why. If stocks were following their current course and Bernanke had not been approved by the Senate, there would have been no shortage of people willing to blame his rejection for the downturn. In reality of course, no one can really explain day to day movements in the stock markets, people are just guessing. The millions of independent actors that cause these movements don't offer their opinions, they just buy and sell.

Only a fool would try to make policy based on these movements and only a dishonest political hack would use them as a basis for supporting or opposing specific policies.

--Dean Baker

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