Monday, March 9, 2009

Another Record!... Obama's Market Decline Worst For New Prez in 90 Years

Obama keeps racking up those records...
** The stock market had its worst January in 113 years.
** This was followed by the worst February for the stock market since 1933.
** Don't forget the record unemployment rate.
** Obama's budget more than doubles the national debt held by the public, and adds more to the debt than all previous presidents -- from George Washington to George W. Bush -- combined.

And, now this...
The Dow has dropped faster under Obama than any other new president in 90 years.

Today the Dow continued its decline.
Fox News reported:

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.

But there's hope!
Today the Obama Administration started taking economic advice from Twitter.

Source: Gateway Pundit


Joe Markowitz said...

Now that the stock market has had its best month in years, will we be seeing a post from you that socialism is working?

M said...

Um socialism is not working, I truly believe that we are on a crash course with Obamo in the drivers seat. Big deal we had a notable gain that doesn't make up for what we have lost since this clown took office. I bet it will drop again as soon as he comes back and opens his mouth. 2010 cant come soon enough.

I am sick and tired of the irresponsibility of the government bailing everybody out.

Anonymous said...

On January 19th, the last full day of President Bush's (43) presidency, the Dow closed at 8218.22. On February 20th, a month later, the Dow closed at 7365.67.

That is a decline of 852.55 points and obviously more than 10% of the market's value since President Obama took office. Why? Well the obvious explanation is that the market does not have confidence in Obama's so called stimulus plan.

That is a decline of 852.55 points and obviously more than 10% of the market's value since President Obama took office. So until the day comes that this is not just a fluke and I believe it i.e. the small gain that we saw, the day before then we can talk.

Socialism only works until you run out of other peoples money. Call me greedy but I am sick and tired of bailing out LOOSERS and everybody that wants to suck off the nipple of hard working people rather than go out and earn it.

If you don't like capitalism move. Obama is such a joke and so our the people that voted for him