Obama versus the Dow

The Dow Jones Industrial Average after passage of the stimulus bill

The Dow Jones Industrial Average after passage of the "stimulus" bill

Here’s a shocker.  Mr. Hopenchange (Barack Obama himself) has now presided over the fastest and most significant drop of the Dow Jones Industrial Average for a new president in at least the last 90 years according to Bloomberg.

I honestly don’t worry that much about me and my immediate family as much as I do about my parents and my in-laws.  I’m only 30 and I have a lifetime of income in front of my.  However, my parents and others in their 60’s and 70’s do not.  They’ve just watched 30-50% of their saved income vanish.

This Obama administration is going to do their best to pass the buck to George W. Bush.  You’re supposed to forget the fact that all of this has happened under a Democratic-led congress (in power since 2006 in case you Obama voters didn’t know).  Blaming Bush will only go so far…perhaps until August.   Sure, the previous administration made some errors, such as spending too much.  Democrats are doing their best to justify outrageous spending by confronting us with the outrageous spending under the Bush White House.  You don’t fix the problems arising from excessive spending by more excessive spending.

What’s the Obama Adminstration’s response to all this?  They’re not going to make policy based on what the Dow does.  Yeah, it’s pretty obvious they don’t care about the life savings of the majority of Americans.

In large part, this is a crisis of confidence.  There won’t be a recovery until the leader of the free world decides to stop stoking fear in the heart of American investors and businesses.

Obama’s favorite words lately seem to be “crisis” and “catastrophe”.  That’s really a shame.  A man as gifted a communicator as Obama (at least while he’s on a teleprompter) could really inspire Americans to believe in themselves and thus help us get out of this recession.  But that won’t happen.  Obama believes in government, and more government is what you’re going to get.

Or maybe more food stamps is their idea of compassion.

HT: FoxNews.com

The Dow Jones Industrial Average has fallen faster under President Obama than under any new president in at least 90 years, according to a review conducted by Bloomberg.

Bloomberg reports that since Inauguration Day, the Dow has fallen 20 percent, leading at least one investor to dub this the “Obama bear market.” The Dow has also dropped 31 percent since Election Day.

Despite a string of government bailout offers and Obama’s advice earlier this week that Americans should be buying stock while shares are low, the Dow has continued to freefall.

Bloomberg reported that Obama is at risk of breaking a historical trend — in which the Dow soars an average of close to 10 percent in the first year after a Democrat wins the presidency.

Plus: Obama’s radicalism is killing the Dow

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