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Wall Street Dives on Concerns That Sarah Palin Will Destroy the Economy?

Reported by Melanie - September 4, 2008 -

That (the title of this post) would probably have been the opening chyron today (September 4, 2008) on Your World w/Neil Cavuto (including the ubiquitous "Cavuto mark") if Sarah Palin were the Democratic VP nominee and the Dow dropped 344+ points (as it did) the day after she gave her acceptance speech. And Cavuto would have opened with something like this:


Good afternoon everyone, I'm Neil Cavuto. This is a Fox News Alert. You are looking live at the big board at the New York Stock Exchange at the corner of Wall and Broad in New York City, the heart and soul of the economic and financial infrastructure of this great country. This is where the blood pressure of our economy is taken and things do not look at all good right now — the Dow down over 344 points.

Take another look folks:


Again, I'm Neil Cavuto and this is a Fox News Alert and you are looking live at the closing numbers on the Dow. As you know, Democrat Sarah Palin spoke last night, accepting the nomination as the potential Democrat vice president of the United States. Obviously, Wall Street is none too happy with what they did or did not hear. Some say they're downright worried about what her policies, and Democrat policies, might do to our economy, and to the economy of the entire world for that matter. It has been been weeks since the Dow plummeted like this — diving down close to 400 points. Aagin, this is a Fox News Alert and you are looking at a very, very bad day on Wall Street on the heels of potential VP, Democrat Sarah Palin's speech last night. We will have much, much more on what this means for our country, for you, for your family and for your future after this. This has been a Fox News Alert. Don't go away. We'll be right back with this breaking news on the plunge in the Dow and what it means for our future and what it means, well, for life as we know it. Stay with us.

In all seriousness, Austan Goolsbee, Obama's Senior Economic Advisor was on Cavuto today. I was composing this post in my head while watching him, and out of the blue, he said this (he gets it!): "If this had happened the day after Barack Obama's speech I don't think you guys would have been saying it had worked out so great. I think you would have been looking at the market and saying the market decided that they didn't embrace the solution." Cavuto, lying, as usual: "Oh, no, we wouldn't have been saying that. Come on." Haaah! Love it. Goolsbee is absolutely correct.)