I was stunned this morning watching CNBC (stock market porn) to see a commentary on the election that I would expect to come from Hannity or Limbaugh and not a "news" organization. It was tinged by the familiar code words of racism and unequal treatment of the left and right.
I was outraged enough to transcribe it as completely as possible (I posted it in an open thread, but it is more appropriate for a diary).
Transcript after the jump:
Art Cashin, a trader with UBS, was on Squawk Box on CNBC this morning at about 8:50 a.m. The topic turned to the election's affect on the market. This was the exchange:
Joe Kernan: When it comes to next Wednesday and for the rest of the year, does it matter who's elected, are things already in the market?
Art Cashin: Well, no. There's a lot of things not in this market. This market is still working its way out of crisis mode. It hasnt come to grips with the recession that's coming up, which is not going to look like a "V" or "U", it's going to look like a bathtub. And that will carry us longer and further than we would care to be.
But I think you might get some reaction to relative surprises in the election. If Obama wins in a total landslide and has both houses in his pocket you might get some pushback on that - usually the market doesn't like everything all in one hand.
If McCain surprises and sneaks in I think people will look to see what kind of backlash there is. I mean, this has been almost a poisonous campaign. Will there be action in the streets..that the election was stolen?
Joe Kernan: Yeah
Art Cashin: So election day's going to be a tough time - the post election day is going to be a tough time.
Joe Kernan: With all the reevaluation of, you know, taxing the investor class and spreading the wealth if it were to go the wrong way - if it were to go the right way for McCain I wonder about that. That no one would attribute it to a reevaluation of the tax policy, it would be attributed to something more unseemly.
Art Cashin: Absolutely. No one wants to take any of the decisions as reasonable and reasoned. And I think that's what helped to poison the campaign. I mean people aren't a million miles away from each other on many of these issues, but you would think it was the real Hatfields and the McCoys if you watch and you hear the people in the street talking about it.
{end my transcript}
So if McCain wins...the people in the "street" are going to attribute it to the election being stolen and it could create post-election troubles? And you hear "people in the street" talking about it?
This is VERY much the word among the "investor class" - they think the "people in the street" - i.e. black folk - are going to riot if McCain wins. I hear it on a popular investor message board I'm a member of. One of the most racist sentiments there is.
I guess they haven't seen the violence at the Palin rallies...or the fact that Obama has been the subject of not one but two assassination attempts, including one where the alleged assassins had long range rifles and scopes and radios. I think there will be more violence on the RIGHT if Obama is elected among the Christianist fringe of the Republican party - as shown by their actions - than there would be on the left.
This is obscene and has to stop. And one way for it to stop is for you to go to your damned voting booth and punch the ticket for Obama.