Posted on 03/09/2009 9:38:15 PM PDT by FocusNexus
The election of Barack Obama offered the promise of a new set of fixes for the financial crisis and the economy, a do-over that might help nurse the stock market back to health.
Since then, the market hasn't just gotten worse - it's turned in its worst performance ever for a new president.
The Dow Jones industrial average has fallen 21 percent during Obama's first seven weeks in office. Count back to Election Day and the results are even bleaker: That afternoon, the Dow closed at 9,625. Now it stands at 6,547, a loss of 32 percent.
Stockholders have lost $1.4 trillion during the young administration.
In this case, said Wachovia Securities chief market analyst Alfred E. Goldman, investors are saying "they have no confidence in the stimulus package doing much stimulation anytime soon. And they're greatly concerned about the size of the budget."
(Excerpt) Read more at google.com ...
People are PISSED about their dwindling wealth under this commie fraud.
The Russian Communist Bear
The China Communist Panda Bear
The Market Bear
just how long does it take for the masses to figure out that the so-called “stimulus” package
has nothing to do with repairing the economy?
LOL now that some real change. The more he talks the lower the S&P goes.
The Dow is down nearly 6,000 points since democrats took back congress.
This is Obama’s economy.
But, seeing Obama neutered by his own Party will be fun, even if we don't take quite as many of them out, next year.
Bear-ack 0bama...
CHANGE, man.
AP must have noticed the CBS error.
agree.
times are dire.
my father used to say,
you younger people haven’t lived thru’ the depression.
and who knows what 12 or 16% unemployment will bring to the streets of america?
Idiot! People are worried about the huge marginal tax rate hikes coming up real soon sucking investment capital out of the market. They are worried about the enormous drag of the cap-and-trade tax and the income redistribution Washington plans for it. Investors are worried what happens when more than 50% of the populace can vote itself goodies at the expense of the "rich." They are worried about the nationalization of health care turning doctor visits into DMV visits.
Check this out!
New Threat: The ‘Obama Market’ (FLASHBACK June 30, 2008!)
http://www.freerepublic.com/focus/f-news/2203079/posts
Further, the veteran adviser, who publishes a 46-year-old monthly investment newsletter, the Growth Stock Outlook, out of Bethesda, Md., made a marvelous market call last July (2007!) with the Dow Jones Industrials hovering around 14,000 and bullish sentiment rampant. In an ominous warning to subscribers, he urged extreme caution, predicting the Dow was on its way to 8,500 to 9,000, which he noted was a forecast that “could be on the high side.
Initial polling suggests that Senator Obama will be the next president, a view Mr. Allmon shares. An Obama presidency is certain to mean a big tax increase, he says.
“He’ll cause more damage to the stock market and even make Jimmy Carter look good,” Mr. Allmon says. “Senator Obama is leading a children’s brigade, but the problem is children shouldn’t be leading this country.”
Maybe this is why those brianiac intellectuals on college campuses are on college campuses and not running Fortune 500 companies. Or you know, the United States.
Obama is the biggest disaster ever to occupy the Oval Office.
In retrospect, Bill Clinton was harmless compared to this commie idiot. A dumb commie running the largest economy in the world. I am living my worst nightmare.
...And exactly what in the hell was that supposed to be? It certainly wasn't revealed during the campaign. I believe the writer was simply expressing what HE was hoping for from Obama. During the campaign, Obama said very little. He was merely a symbol for people, and his followers could just make of him whatever they wanted that inspired them.
I wonder what else the markets have in store for the community organizer?I hope the behind the scenes types on wallstreet have something in store like they did for ole spitzer.Hmmm.
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