While Congress is away, the bulls will play. At least that’s what the authors of a new study, “Congress and the Stock Market,” conclude: Stock market returns are lower and more volatile when Congress is in session than when it’s in recess.In fact, about 90 percent of capital gains recorded on the Dow Jones Industrial Average (DJIA) index between 1897 and 2001 occurred on days when Congress was not is session, according to the study.
Source link: http://archive.mises.org/3946/the-state-is-bad-for-business/
The state is bad for business
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Congress’ return causes the market crashes in the Autumn? I’ve heard the moon phase and the Farmer’s harvest as alternate explanations, but somehow the return of the Congressmen (remove the “gress” considering the quality) sounds somehow properly ironic.
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