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…
Well said. My portfolio was disappearing weeks before Bush was inaugurated. It took Bush to eventually get it back.
If there is any antidote to all of this revisionist history pain we suffer, it would have to be a newspaper I have at my office desk. Date December, 20, 1998. Headline: CLINTON IMPEACHED.
I know quite a few people who got out of the market before the 0ne took over the reigns. So really that drop could be due to people knowing what the Marxist in Chief was going to do.
I got out and haven’t looked back.
Louis Freeh, former FBI director? Do you mean Franklin Raines?
Great charts. Can you provide a link to the site?
I just did some Yahoo Finance graphs.
Must've been one smart banker, huh?
USA Ptooey doesn't permit FR to quote their articles:
Ex-FBI Director Freeh joins Fannie Mae board (5/23/2007) (Al Reuters, via USA Today - link only)
I just hate it when our Right wing pundits are equally as dishonest as Left wing pundits.
Obama was sworn in as president on Jan. 20, less than a month ago. It is fair to say that the markets tumbled 2000 point since Obama's election, but not in the first "few months" of his presidency. Not yet, anyway. Let a few months pass, see where the market is then, and tag him with the blame if he deserves it.
Hard to read this. All you usually thoughtful people here quibbling about what is/was Bush’s, Clinton’s, 0bama’s fault. People elect representatives and leaders, no one of whom, even a president, bears sole responsibility for much beyond his own desk.
0bama’s a convenient pinata here, just like his predecessors. Blame the voters, the marauding swine.
Stocks at 3-month lows / Finally they're cheap
Typical way for them to turn bad news into good.
Good point at his end. I was actually talking about his beginning-how the economy was improving before he formally took office.
Absolutely. It's happening here in NYC already. Lots of buyers remorse among rats.
LOL .... so how come no one's buying? It won't be long before the MSM spins itself onto the unemployment line. They actually think they're immune.
From November 13 - the last big day for the markets:
Bush defends free-market system
Mr Bush’s comments seemed to please investors, as America’s main Dow Jones index ended up 6.7%.
http://news.bbc.co.uk/2/hi/business/7728048.stm
People talk about the Hillary/Obama race and the effect on the market -
how about when McStain secured the nomination?
Bear market unfair? Maybe racist?
Obama wants SEC "Fairness Doctrine"
Too many "big money" conservative investors, "Invest or lose license."
Radio news said that the markets dipped today because of European markets, not because of the signing of the bill in Denver. Deny deny deny.
Obama has never been anything but a corrupt money changer who happened to deliver a FEW good speeches.
Corrupt money changers pretend to be performing a public service, but they really enrich themselves (and the members of their inner clique).
Hmmm..... The market tumbled under Bush. It's tumbling under Obama. What could be the common denominator?
A Democratic Congress!
Pelosi’s Fault!
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