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Opinion
Barry Ritholtz

Confusing Cause and Effect: Election Edition

The race for president offers little insight into markets.
It just doesn't matter that much to markets.

It just doesn't matter that much to markets.

Photographer: Robert Nickelsberg/Getty Images

As you surely know, this is an election year, and that means a combination of sophistry and ignorance is flooding the news media. The latest point of contention among the chattering classes concerns the financial markets, which so far this year have been anything but uplifting. The entire discussion represents a classic logical misunderstanding, although I suspect some disreputable partisans know this but traffic in it anyway.

This is yet another of my many pet peeves (see this, this and this), but one that I haven’t addressed recently.