Market Bull: WSJ's Moore Ties Stock Market Fall To Obama Deficit Reduction Plan

Blog ››› ››› ANDY NEWBOLD

The Wall Street Journal's Steve Moore appeared on Happening Now to discuss his opinion on the outlook for the U.S. economy. He attacked the Obama administration as "anti-business," and claimed that the market "really started to fall" around "a week and a half ago" because Obama called for tax increases that show "Washington is working against [businesses] right now."

However, the claim that the markets "really started to fall" about "a week and a half ago" is totally divorced from reality. The stock markets actually began to plummet in July and August. Experts at the time said the plunge was due to weakening economic data.

But if someone wanted to play Moore's game, the plunge occurred at the same time that tea party members and their right-wing media allies (including Moore) threatened to plunge this nation into default to advance their ideological agenda.

Below the fold is the data from the Dow Jones Industrial Average, NASDAQ, and the S&P 500.

Dow:

NASDAQ:

S&P:

But, regardless of the facts, the right-wing media are always willing to twist the ups and downs of the stock market to fit their agenda.

Posted In
Economy, Budget, Taxes
Network/Outlet
Fox News Channel
Person
Stephen Moore
Show/Publication
Happening Now
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