The Man Who Still Rules Their World
This is really a jump the shark moment for Matt Drudge, who is only relevant to the Gang of 500, anyway.
The markets opened this morning with a sustained decline, which Reuters attributed to a new “report showing yet more deterioration in the housing market.” Matt Drudge, however, wanted to blame it on President Obama, so he posted an auto updating graph of the Dow Jones Industrial average. Under that, in large block letters, Drudge asked, WAS IT SOMETHING HE SAID? But as the day passed, the market rebounded, and Drudge was left suggesting that Obama was responsible for the rally. Drudge couldn’t let that stand so, several minutes later, he changed the headline: MARKET REBOUNDS. But then, shortly before the closing at 4:00 PM, the market declined again. What did Drudge do? He hurriedly changed it back, typos and all: WAS IT SOMETHING HE SAID?">WAS IT SOMETHING HE SAID?
We all know that every minute of market activity is dictated entirely by the utterances of whoever is President at that time, so Drudge is surely on solid footing here. So I'm sure this embarrassment is just a temporary setback for him. After all, markets rarely fluctuate over the course of a day.
I'm also fairly certain this will cause approximately no member of the chattering class to reassess their reliance on headlines and news stories hand-picked by someone who today revealed himself to be a complete idiot.