Nonsense of the Day
October 13, 2008 – 2:45 pm by BHVia the Curious Capitalist:
When last I checked, the Dow was up 6.9% and the S&P 7.5% in reaction to Paul Krugman getting the economics Nobel before trading began this morning. In London the FTSE ended the trading day up 8.26% and in Frankfurt the DAX was up 11.4%.
This is just so wrong-headed. Markets are not up because of Krugman. Markets are up in anticipation of Apple’s announcement of their new laptops tomorrow morning. Dubious? Don’t be a mac hater dude. And don’t say they’re expensive either since now you can make your own super portable mac for super cheap (tuaw). Complete with mac logos and everything. We should all thank Steve Jobs for bringing the market to its senses.
Oh yeah, so Justin Fox, the author of the post, gives a couple of other possible causes, something about a trillion-dollar bailout or whatever, but I say he still misses the point.
