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When Drudge headlines backfire

February 25, 2009 2:40 pm ET by Eric Boehlert

Here's the big one today:  

WAS IT SOMETHING HE SAID?

See, when Drudge posted the headline/graph Wednesday morning, Feb. 25, and the graph only showed stock activity between 10 am and 11 am, it was supposed to be a ha-ha moment: Obama addressed the nation about the economy last night and the market opened way down. I guess readers are supposed to see a direct connection between the two because conservatives have decided that Obama's entire presidency is going to be judged, hour-by-hour, by the stock market.

But uh-oh. Look what happens around 2pm. The stock market recovered its losses for the day. Did the rebound have anything to do with Obama or his rhetoric today? No. Just like the early decline didn't have anything to do with Obama. (Unexpected declines in housing prices did, though.)

The truth is, the longer Drudge keeps the graphic up on his site the more people will see the absurdity of the exercise.

UPDATE:

Drudge gives in around 3:30 pm and changes the headline to "STOCKS REBOUND"

UPDATE:

The comedy continues. At 4 pm Drudge goes back to WAS IT SOMETHING HE SAID? Is he going to do this for four years?

FYI: The graphic above continually updates and is now showing the latest Dow movement, and does not reflect the activity at the time Drudge first posted on Wednesday, Feb. 25.

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    • Author by harley (February 25, 2009 3:17 pm ET)
         
      Drudge is taking his "economic advice" from Cavuto and Faux.  They have been gauging the stock market the same way for years.  When dubyah made a speech or an appearance and the DOW climbed, it was attributed to King George.  When the DOW fell, Cavuto would blame it on Paris Hilton, or Michael Moore, or the ACLU, or the NYT, or whatever boogeyman was available for the day.  
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      • Author by steeve (February 25, 2009 10:59 pm ET)
           
        Stock market analyst might be an even easier job than big media pundit.

        Every morning, write your "up" story and write your "down" story. Then release the one that points the way the stocks did.
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    • Author by harley (February 25, 2009 4:01 pm ET)
         
      Drudge spoke too soon.  The DOW is down around 80  at 4 pm.
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    • Author by fawltylogic (February 25, 2009 4:12 pm ET)
         
      What did Obama say around 3:30PM today?
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    • Author by PurpleState (February 25, 2009 4:46 pm ET)
         

      Yes, Drudge.  Obama is playing with the Dow like that guy in Airplane! who pulled out the lights to the runway and announced, "Juuuust kidding!"

      You stay classy, Matt Drudge.

      Report Abuse
    • Author by MickD (February 25, 2009 4:54 pm ET)
         

      Drudge...

      I've got my brain in a jar. Developing.

      Report Abuse
    • Author by mk3872 (February 25, 2009 5:54 pm ET)
         

      SHOCK: Drudge is a conservative puppet!

      This was very funny, MMFA, thank you for posting this!!

      Report Abuse