Tell Congress to go home and stay there. According to a recent article in the New York Times:
…stocks fare better when Congress is out of session, much as [Will] Rogers suggested. Along with Michael F. Ferguson of the University of Cincinnati, Professor Witte corroborated this finding in a 2006 paper. The researchers found that more than 90 percent of the price gains over the 108-year life of the Dow Jones industrial average through 2006 came on days when Congress was out of session.
Amazing, is it not? Several theories were offered as to why this effect occurs, but I prefer the theories of American humorists Will Rogers and Mark Twain. Twain’s take on the situation:
Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself.
Will Rogers went for immaturity rather than stupidity. He wrote:
This country has come to feel the same when Congress is in session as we do when the baby gets hold of a hammer. It’s just a question of how much damage he can do with it before you can take it away from him.
Will Rogers wrote in 1930. Twain’s commentary came in his autobiography, which was dictated to a stenographer between 1906 and his death in 1910. Current sentiments toward Congress are obviously nothing new! For those who are seriously concerned, here is a link to a Congressional calendar. The target date for the next adjournment is October 8.
They might adjourn 3 weeks ahead of schedule this year!
*fingers crossed*