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Beck not sure why market didn't rally, says prediction that Brown victory would trigger rally "made total sense"

January 21, 2010 10:45 am ET

From the January 21 edition of Premiere Radio Networks' The Glenn Beck Program:

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Previously:

Paging CNBC's Jim Cramer, where's the "gigantic" Scott Brown stock market rally?

"Pelosi Politburo emasculation":  CNBC's Cramer predicts "gigantic rally off a Coakley loss"

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    • Author by marco21 (January 21, 2010 10:47 am ET)
      1  
      Obviously.
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      • Author by Max Credits (January 21, 2010 11:39 am ET)
           
        Ha! The best part is that it still makes "total sense" to Beck. The market is just wrong.
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    • Author by grunt (January 21, 2010 10:49 am ET)
        12
      MMFA needs to wait until some legislative decisions are made with Brown. At that point, the market will determine whether they feel free to grow or if they are still going to be restrained by new programs and taxes. It really isn't that difficult.
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      • Author by Ouroborus (January 21, 2010 10:58 am ET)
        3  
        MMfA did not make these predictions: talking heads like Beck and Cramer did. All MMfA is doing is reporting on their misinformation and failed crazy predictions.

        In fact, that's all MMfA ever really does, but that never quite sinks in for wingnuts.
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      • Author by MidnightWriter (January 21, 2010 11:09 am ET)
           
        Here's the deal--if Brown is going to get any legislation he supports passed, he's going to have to work with the Dems. It's the news that politics are being put aside and that we've actually got elected representatives working to get some positive things done that will make the markets rally.
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        • Author by PopeRatzo (January 23, 2010 5:21 pm ET)
             
          Brown's not in the Senate to "pass legislation". He's there to oppose Democrats.

          And why do you think that a "market rally" has anything to do with getting "positive things done"? Be careful not to assume that the stock market is a measurement of how good things are for Americans.
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          • Author by MidnightWriter (January 23, 2010 5:43 pm ET)
               
            Oh, I'm certainly aware that market movements, up or down, often have little to do with anything reality based. Greed, pure and simple, greases those wheels.

            The main point I made a poor attempt at making is that Brown is but one member of a minority party that's been all too determined to get nothing done. I'm tired of it. I would hope a growing number of conservatives are tired of it, too, and have come to recognize that the NeoCon and Teabagger screamers have been drowning out their more reasonable voices.

            I guess I'd like to believe that both the right and the left understand their first obligation is to the American people as a whole and not to the political party they are connected to. If that can happen I figure that would be a very positive thing and would be a cause for optimism in the markets and elsewhere.

            Yeah, yeah, I know, I know. I'd like to believe in Santa and the Easter Bunny, too.
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      • Author by Max Credits (January 21, 2010 11:20 am ET)
           
        Media Matters does not have to wait to shine a spotlight on Beck's and Cramer's DEAD WRONG prediction.
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      • Author by RKAllen (January 21, 2010 12:52 pm ET)
           
        You are aware that Fox News and many Conservative figures predicted a rally in the market after the election of Brown, don't you? DOW down 120 yesterday... and as I am typing this... down 200 today.

        I think they tend to not count progressive/liberal and democrat money when they attempt to make predictions in the stock market. Apparently Fox, Talk Radio, and Jim Cramer think that he only people willing to invest in this country's companies are Conservatives and capitalists thus the market only responds to their whims.

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    • Author by worrierking (January 21, 2010 10:50 am ET)
      1  
      It made total sense, to Beck and others in the tin foil hat brigade.
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    • Author by roland (January 21, 2010 11:01 am ET)
      2  
      Don't these dimbulbs realize that the healthcare plan, if passed as currently written, will, in fact, be a total bonanza for private insurance companies? Apparently, those on Wall Street know that better than these know-nothings.
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    • Author by ojnabieoot (January 21, 2010 11:06 am ET)
      2  
      If Beck paid attention to the news, he'd see that worry about Chinese lending caused the stocks to fall. Unfortunately, he and the rest of the FOX crew are so madly in love with Scott Brown that they actually think it is the only newsworthy thing happening - Haiti, China v. Google, the growing war in Yemen, etc. are all minor events compared to a Republican winning in Massachusetts.

      The worst part is that so many of his listeners are well-intentioned, decent people, all of whom are being misled and lied to.
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    • Author by clearstate (January 21, 2010 11:27 am ET)
         
      If you use Hannity's "logic", the bad rally yesterday shows how people favor Brown. The Republicans win a senate seat and the stock markets plummets.
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    • Author by snoopy (January 21, 2010 11:39 am ET)
         
      OMG, I'm re-living last night! I had this same conversation with a guy who admitted he was a teabagger, and he mouthed Beck word for word! The best part of the argument was when he claimed 80% of people on unemployment are bums that the democrats paid off to buy their votes. When challenged on where he got the numbers he said he really didn't know, but it didn't matter because it looked about right to him.

      He also told me that he has no problem being fascist if it means getting rid of "socialism" once and for all...
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      • Author by markbfoot199 (January 21, 2010 12:10 pm ET)
          2
        Snoopy, lets start with "Teabagger" I am guessing you are the person helping with this, since you know he is a Teabagger? How about he is a Tea Party Supporter, the new party that has more individuals identify themselves with them the Republicans or Democrats.

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        • Author by magnolialover (January 21, 2010 12:25 pm ET)
             
          Hey, Teabagger is what they used themselves at the onset of it all. Not our definition, their own.

          And if they were a tea partier, they apparently have no historical idea about what the Boston Tea Party was about.
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        • Author by snoopy (January 21, 2010 12:36 pm ET)
             
          He identified himself with that term, so obviously he accepts it.

          feel free to post that data showing identification statistics, we'd love to see it...
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    • Author by markbfoot199 (January 21, 2010 12:08 pm ET)
        1
      Why would it rally after the Government wants to extend the debt limit. FYI, more debt is not good.
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    • Author by magnolialover (January 21, 2010 12:27 pm ET)
         
      Yeah, made total sense, in Glenn Beck-world. Because one guy gets elected an entire market moves? I'm pretty sure Senator Elect Brown does not hold that kind of sway over, well, anything at all.

      Usually someone like, oh, Obama, or whoever is President at the time, can swing the market one way or another with proposals, plans, announcements, and so on. A lone Senator from Mass, he doesn't have that kind of juice.
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    • Author by shaggles (January 21, 2010 12:46 pm ET)
         
      Beck finally said something that's true. He doesn't know sh!t about the stock market or investing.
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    • Author by big2xrube6146 (January 21, 2010 3:54 pm ET)
         
      Just more Beck BS. A fence post has more sence than Beck.
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