Wednesday, November 11, 2009

Quotable

Vanity Fair's James Wolcott:
"Don't let the soaring market fool you," cautioned [Neil] Cavuto at the start of his 6 pm show.
....To address this crisis of rising portfolio value, Cavuto introduced his first guest, that financial oracle, that investment wizard, that translucent orb that burns by night: John Bolton, Sheriff of Nottingham.
It takes more than a market rally to pull the wool over Bolton's mustache. He perceived the rise as a function of a falling dollar, which is a thumbs down on America's declining status and crumbling balance sheet. Following Bolton on Cavuto's show was fellow C-lister Dick Morris, who never gets anything right, so who cares what the thinks about anything?
See, what peeved Cavuto and Fox Biz was that Wall Street refused to follow the doctrinaire script. After the House narrowly passed health reform over the weekend, the market was supposed to go down on Monday as a damning verdict on the socialist overreach of the Obama administration. Here are Glenn Beck, Stewart Varney, that twerp on Fox Biz's "Happy Hour" who keeps crying fascist!, and the jingoistic Capitalist Pig, and the other hobgoblinizers spouting and shouting themselves hoarse that Obama (and Pelosi) are bad for business, profits, and individual investors, and in 2009 the markets have had the indecent gall to go up, daring to contradict them.

- Garry J. Wise, Toronto

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