Possibly the current election debacle will open more eyes to this all-important fundamental. It certainly should, for, as any keen observer has already recognized, every sector of the various markets have reacted instantly to every news announcement, photo op, and legal plea over the past four weeks. With near-perfect consistency, each time Bush gains the advantage, the Dow soars. Each time Gore renews his vow to keep fighting, the markets plummet.
Many financial reporters employ euphemisms to describe what is going on.
They say that the markets want things settled or that they react badly to uncertainty. The truth is, the markets like George W. Bush. I predicted this phenomenon back in August, in my monthly newsletter, Larry Abraham s Insider Report . But if Bush is the perceived winner, they will start to break out. If the investor community believes that it has to face the political risks attendant with another four years of Reno-type justice, it will head for the exits instantly.