June 06, 2008

An experiment in Bush/Dow coefficients of correlation

As a brief endnote to Friday's musing, President Bush is about to address the nation on the "economy." I will watch this speech on CNBC and note the Dow at the moment when Bush begins speaking. I have noticed in the past that as Bush speaks, the Dow sinks with practically every word. It's already been a terrible day on Wall Street, and we'll see if King Bizarro Midas can work his magic again:

The Dow at the moment Bush begins to speak: 12,314 Down 289.
Dry mouth, slurring his words. He looks gaunt these days.
5 minutes in, Dow down 288. Confounding the theory.
7 minutes in, Down down 287. This man is a leader.
Uh-oh. At 9 minute mark, down 294.
Bush still on stage, Dow down 298.
Finished.
So when Bush began, Dow was at 12,314. As he turned to observe the swearing in of his new Secretary of Housing and Urban Development, Dow was at 12,305.

9 point loss in the course of a 10 minute speech. It's good Bush didn't speak for an hour. Would have cost us 54 points. Wait-- now we're at 321 down. This must be the hangover effect from a Bush speech. Just when the country is feeling hopeless, Bush begins speaking and we have our confirmation - there truly is nothing but despair on the horizon.

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