Posted on 02/17/2009 9:45:45 AM PST by TennTuxedo
President Obama’s 2,000-point tumble
By Michelle Malkin • February 17, 2009 10:37 AM
On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28.
In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a massive new mortgage entitlement, the Dow dropped to to 7,606.53.
Now, imagine if President Bush had presided over a 2,000-point stock market tumble in the same time period — during the first few months of his presidency.
Great start, O.
Just saying…
Yes, but it IS Obama. The media is NOT going to report that one. Sorry.
The news reports the stock market results ever day. The market is going to continue its slide. They will figure it out on their own soon enough.
People will claim the market was already heading in that direction.....funny how they don’t say that about clinton and the 90’s.
They will say the market is still reeling from the failed policies of the last eight years.
How quickly they forget.
It tumbled nearly 4,000 in the waning weeks of the Bush admnistration.
The drones and slugs are happy though. At no time in the history of man have so many incompetent morons lived higher on the hog than now. And they’re not likely to give up their ill-gotten booty. These vermin are now in the majority and they vote. I suppose we should get used to it. The ruling paradigm is the Democratic Party; witness, California, D.C., Detroit, Baltimore, and Philly, all turning into shitboxes. Is there any reason to expect that the “Anointed One” will govern any differently? I think not. He and the Democrats have and will continue to enable the nonproductive parasites who are in the ascendant.
Also imagine this. The Praise Obama would get for achieving the high-water 14,000 + mark that Bush had back in 2007. An achievement nobody in the media or to the left of center seem to remember.
Michelle, really, that’s embarrassing. The end game has been in the works for thirty years and you know it.
12,156.77 on 11/7/06 ------>7,591.63 as of this post
Much as Bubba Clinton tries to spin it that way, we were in a recession when Bush took office and the market plunged in the wake of the 9-11-2001 terrorist attacks.
We rebounded and from 2003 on we were on an upward trend.
Several years ago the administration tried to investigate Fannie Mae and Freddie Mac. Barney Frank huffed. Louis Freeh and Jamie Gorelick made millions.
America got punk'd.
Nice chart, and good points.
For some reason the media and liberals seem to think that the market reacts to news the day it is reported. In reality, it reacts on the possibility of news in the future.
I’m a commodity broker, working primarily with agricultural products. In the middle of summer, I have seen it rain across the whole corn belt, but futures go up limit because there is no more rain forecast in the future.
The same is true for stock prices, they went down because of what could happen, not what was happening at the time. I’d argue that due to Bush’s approval ratings, the market started trading a Dem win as early as 07.
NEVER Obama’s fault. Unthinkable for the messiah to make a mistake.
“How quickly they forget.
It tumbled nearly 4,000 in the waning weeks of the Bush admnistration.”
-Yes, as it became clearer and clearer that Obama would be elected. As Hillary made her come back from March to June, the market rose. When it became clear she would fall short, the market began to tumble. This wasn’t about Bush after mid-year last year. It was about Obama. Free markets swoon when faced with Marxist controls.
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