Dow Jones has lost 2,443 points since Obama was elected - a 25% decline!! (Congress, speech)
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It has lost even more since the first time it looked like it was possible for him to win the election. It tried to recover and then he came out talking again.
Last edited by NCN; 02-26-2009 at 06:26 PM..
Reason: Sorry, I got a little off topic. The subject is the stock market's reaction to Obama.
It has lost even more since the first time it looked like it was possible for him to win the election. It tried to recover and then he came out talking again. You just cannot trust someone who stands there and says there are no earmarks in a bill that is nothing but earmarks.
Have you read the bill or are you just spouting the GOP Talking Points from RNC Chair Steele?
With Obama's stupid economic plans the markets will continue to go down. BUT, when there is a recovery the markets will be worth yet just a fraction of what it was pre-Obama because the dollar will be worth far less.
You can probably give the dollar a 25% haircut over the coming 2-3 years, so whatever the markets (DOW, S&P, etc.) go down to in the next 2-3 years shave off another 25% or more for comparison to pre-Obama market values.
Location: New Albany, Indiana (Greater Louisville)
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As the OP let me state why Obama can be held equally accountable for the stock mark btw his election and inaug.
Everytime his economy people (or himself) gave a speech about their economic plans the stock market reacted. After 3 months of talk about caps on trade, carbon taxes, and higher taxes on businesses the Dow Jones has been battered by a socialist hurricane and could take years to rebuild
Did the stock market become some kind of vengeful God or something?
When peoples portfolios are attached to it it's not far off. Those people know what makes money and doesn't No one will invest money when they think it's going to on go down. People sell off and cause even more loses. You want to get in when it's down but not while it's going down and therein lies the strategy and the reasoning for the decline.
Did the stock market become some kind of vengeful God or something?
The U.S. stock markets are one of many indications of the state of the economy and the health of businesses, most of which are headquartered in the U.S. It is a key indicator according to Ben Bernanke who testified to this just a few days ago to Congress.
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