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How You Can Tell if Sessions' Testimony Was Successful

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Perhaps I should title this post, "Law and Economics."

The Attorney General gave his potentially explosive testimony this afternoon.  Within about an hour of the time he finished, the Dow Jones Industrial Average rallied off a two-day slump and finished at an all time high.

Is this necessarily an indication that the market was reacting to Sessions' testimony? Nope.  But it's unlikely that the market would hit a record close if it viewed developments in Congress as likely to de-stabilize the Administration.

2 Comments

Bill, do you think the Dow provides a useful metric of the success of recent 2-term Prez administrations?:

GW Bush: -26.5%
Reagan: +147.3%
Obama: +148.3%
Clinton: +228.9%

For the record, I am a fan of a Dow metric, but the data above conclusively shows me that there is not a direct correlation with ethical government actors. Just sayin'.

"Bill, do you think the Dow provides a useful metric of the success of recent 2-term Prez administrations?"

Got me. But I think the Dow's one-day performance has a correlation with the highly publicized events of that day, you bet.

For whatever it's worth, which probably ain't a whole lot, I see from your figures that the Clinton administration, with its vast increase in incarceration, vast decrease in crime, and widespread enactment of mandatory minimum sentences, was the Dow leader. Good for it!

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