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But let's be honest here. Between Jan 20 and 30th when Obama was actually a president, the dow GAINED, not lost. In other words, if we are going to point fingers at the president then Bush is to blame. Also, S&P fell over 40% in 2008, which was almost on par with the worst YEAR ever in wall street history. The worse ever was 1931. Anyway last year saw 7.3 Trillion dollars melt away, which is a staggering amount.
Bottom line: It is intellectually dishonest to pin the blame of it on someone who was not even in office at the time when it happened. Just plain dishonest.... It doesn't get any more partisan than that.
But let's be honest here. Between Jan 20 and 30th when Obama was actually a president, the dow GAINED, not lost. In other words, if we are going to point fingers at the president then Bush is to blame. Also, S&P fell over 40% in 2008, which was almost on par with the worst YEAR ever in wall street history. The worse ever was 1931. Anyway last year saw 7.3 Trillion dollars melt away, which is a staggering amount.
Bottom line: It is intellectually dishonest to pin the blame of it on someone who was not even in office at the time when it happened. Just plain dishonest.... It doesn't get any more partisan than that.
The op also shows that the month of Sept. dropped 17% alone.
Yet, from Nov. 4, 2008 through Feb. 12, 2009, the DJI overall fell 18% -- a larger drop than during the Sept-Oct plunge.
In late August of 2008, the market was around 13,000. Then the Sept-Oct plunge. Then Nov 4th to Feb 12, which was larger than Sept-Oct.
After the election, obama was busy announcing his disastrous plans for the economy. The links highlights those announcements with a corresponding plunge of the market.
The result of all that is the worst January in 113 years.
The market was doing just fine until the bottom fell out in Sept.
actually, the market has been tanking since sept. 2008, and OP suggests that President Obama is to blame. I think people can see for themselves that the stock market HAS BEEN DECLINING NOW FOR SEVERAL MONTHS
and, OP has tried to blame CRA, and everything to it's (stock market) demise all the way back to the Carter presidency. OP is grasping at straws, and has the perfect opportunity to blast a newly elected president for something which he has had absolutely no control over. op also rejects the notion that the stock market has crashed under other presidencies too. the perfect opportunity to bash President Obama, because listening to the trash filled airways of limpbag, hannity and o'reilly has tainted clear and useful thought. while jan. 2009 may be the worst january on record, it is by no means the worst crash in history, which I have pointed to in other posts in this thread. OP is still misleading, blaming the new president for something he has no control over.
The Election result and the subsequent comments by obama, plus his Porkapalooza Bill have set a record. No other president has the honor of achieving what obama has in so short a time.
No one should be rescued from poor job performance, big spending and living too high on the hog for their income.
This is why doing nothing would be far better, let bad banks fail, let poorly run corporations fail, let people suffer the consequnces of living too high on the hog.
Unemployment will only increase as Obama destroys the stock market for his plans to nationalize our economy.
You people have really got to stop watching Fox, Hannity and Limbaugh.
Obama has no big, scary "plans to nationalize our economy." Put away you tin-foil hat and the paranoia that accompanies it.
If you bothered to read anything other than neo-con, fear-mongering garbage, you would know that every economist says that doing nothing would be, in fact, far, far worse.
Let's not be silly. This plan has been in work for a while. Everyone knew it was coming. Eleven days (officially)? So what. It's still his doing. As more and more news "leaked" out or was published on the "transition Website", there were no surprises. He might as well have been in office since the election. That's when the bottom dropped out of everything.
Bush would have been better able to deal with this, because I think he would have cut the capital gains, and that's what we need.
Bush cut taxes on the wealthy for years. It did nothing to help the economy. Zero. Zilch.
Sure they do. All the time. Depends on who's writing them down.
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stocks tanking
