I've heard Allen West say a lot of mind numbingly stupid things in the past, but this latest is right up there with some of the most ridiculous. Here he is on Neil Cavuto's show with his explanation for why the markets are up.
The Nasdaq topped 3,000 today for the first time since 2000 and the Dow finished strong, up 217 points at 13,177 — its highest level since the end of 2007.
But on Fox News this afternoon, West said the markets were only up because traders think Republicans will win big in November. Host Neil Cavuto seemed taken aback by the suggestion and pressed West for clarification, but the Congressman stood by his claim:
CAVUTO: What do you think about that? That the markets say you’re wrong, that the pick up is alive and well.
WEST: Well, I would think maybe the markets are maybe looking five to six months down the road, when we have a change in leadership in this country –
CAVUTO: Wait a minute, you think that this is built on a Republican either capturing the White House or Republicans capturing the Senate? … That might or might not be a stretch, but it is out there as a factor. You think that’s a genuine factor? You think that the markets are getting bubbly in anticipation of a Republican taking the White House?
WEST: Oh, absolutely. Well, I think that there is a hope that may be out there, is that we can get a person that has practical viable solutions for job creation here in the Unite States of America [in the presidency].