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January 29, 2003

Bush Causes Stock Collapse

Here's the story arguing "U.S. stocks tumbled early Wednesday as investors concluded after President Bush's State of the Union address that war with Iraq is almost inevitable."

I don't really buy this kind of singular causal analysis of stock movements, but its significance is that it will depress any attempt to describe Bush's speech as some kind of raging success.

That Bush said nothing new to explain how he will repair the economy-- speeding through his domestic initiatives to get to the only thing that really seemed to excite him, war, it's hardly surprising that no one is expecting anything good from the economy now.

Posted by Nathan at January 29, 2003 10:15 AM

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