It is because Obama won.
It's simple. We don't have a president in Obama who distrusts us instinctively, and lies all the time, with every breath.
The Republicans in an election year thrive on bullshit, it is what makes their world go round, and it is what the market loves, too. It's how people keep prices over their ordinary book value as a factor of earnings.
So the mirrors and fog machine have been yanked aside.
Minus another percentage point later this week: my prediction. You saw it here.
NB ADDED 1/1/09: Ten percentage points more fell off that week.
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