I know, correlation vs. causation, but still . . .
Posted by Lissa on August 12, 2010
I think I may have discovered how to encourage our sickly economy:
Michael Ferguson and Hugh Douglas Witte found that “about 90% of the capital gains over the life of the Dow Jones Industrial Average have come on days when Congress is out of session.” The finding could of course be a fluke but Ferguson and Witte found the relationship to be particularly strong when Congress’s approval ratings are lower. They point out that when Congress is in session, companies and investors face “a more uncertain tax and regulatory environment.”
You don’t say.
Perhaps a longer break would be just the medicine we need!
h/t to Mike