Dow Down 22 Percent Since Election Day (Gasp! It's Obama's Fault)

US News & World Report ^ | November 20, 2008 | James Pethokoukis

[rightinthemiddle]

OK, we've had a bear market even if you count only the losses since Barack Obama was elected.What, don't investors know the MegaStimulus Package is on the way? Maybe instead of a guesstimated $500 billion, it should $1 trillion or maybe even $2 trillion (which I actually heard suggested on CNBC). Or maybe we should do what we did the last time we faced a severe economic downturn ...

[rightinthemiddle]

Hard to find anyone in the media putting 2 and 2 together.

[Retired Greyhound]

The market is clearly nervous about Obama and the Dems.

Everything will continue to be Bush’s fault for the next 4 years, even as Obama prepares to run for a 2nd Term.

Good news: Obama’s fault
Bad news: Bush’s fault

[rightinthemiddle]

Also from this author:

Obamanomics and Uncertainty
November 19, 2008 01:37 PM ET | James Pethokoukis |

One reason the economy didn’t return to prosperity during the Great Depression seems to be the great amount of anxiety and uncertainty FDR created with all his economic experimentation and anti-business attitude. Russ Roberts has the numbers about plunging business investment, and Amity Shlaes has the analysis: “Negative net domestic private investment in human language says: ‘we have no hope.’ And that was the attitude of business in much of the 1930s. Those New Yorker cartoons of people crying into their drink at their second home were accurate. They were not creating jobs.”

http://www.usnews.com/blogs/capital-commerce/2008/11/19/obamanomics-and-uncertainty.html

[Moonman62]

Hard to find anyone in the media putting 2 and 2 together.

It's even harder to get anyone on FR to admit that this is W's mess.

[wmfights]

It's even harder to get anyone on FR to admit that this is W's mess.

How so?

[rightinthemiddle]

ALL of my clients (business owners/managers) are nervous and pessimistic about the future because of the election.

The Obama presidency is going to hurt many of the people who voted for him.

If the market was down 22 percent after a McCain win, the headlines would be screaming for his head. The MSM sucks.

[ProtectOurFreedom]

“Is the country headed in the wrong direction”??

You betcha!

Don’t worry, though. HopeyChangey Man has the Plan.

[BenLurkin]

No one should kid themselves — Obama wants a depression.

[Romulus]

The market started peaked on October 9, 2007. It was off 35% on November 4 of this year. This bear market has been a long time coming, and anyone who blames it on Obama is a fool or else a liar.

[Taking Congress back in 2010]

Nov 5th. The day it went from being Clinton’s fault to being Obama’s fault.

This mess that we are in is not so simple that we can point the finger at one fellow.

Let’s get real.

[rightinthemiddle]

The economic downturn is the result of Liberal policies, be they from Republicans or Democrats.

The stock market doesn’t see any hope for the future because Liberals have no solutions to problems caused by Liberals.

Can we blame it all on W? No. Was it his responsibility? Sure.

The market is trading on the Obama presidency now.

[Boiling Pots]

The market is certainly nervous, and probably wouldn’t have confidence in McCain either (would you?)

I would certainly not be buying stocks right now if McCain would have won.

Bottom line, Obama will be judged by what the Dow is starting Jan 20th. Obama and Co. are certainly praying the Dow and the US economy continue to crash. Then t hey will claim their mandate for “change.”

This is the perfect storm for Obama.

[TomGuy]

Maybe instead of a guesstimated $500 billion, it should $1 trillion or maybe even $2 trillion (which I actually heard suggested on CNBC).

When the big bailout was initially being debated on Capitol Hill, and failed, CNBC commentators and hosts were livid, ranting, raving at how awful it was that it got voted down.

One commentator even suggested that [sniffle] [kleeex alert!] there might not be any Christmas because retailers wouldn't be able to buy goods for their shelves.

The whole bunch of them were unbelievable -- that they were supposed to be reporters and commentators, instead of perveyors of woe-is-me-ism.

The few they did interview -- who spoke rationality and good sense -- were quickly removed from the camera and microphones.

I quit watching CNBC.

[FrankR]

"The market is clearly nervous about Obama and the Dems.
Everything will continue to be Bush’s fault for the next 4 years, even as Obama prepares to run for a 2nd Term.
Good news: Obama’s fault
Bad news: Bush’s fault"

New terms to use from now on:

"The Obama Market Crash"
"The Obama Slowdown"
"The Obama Bailouts"
"The Obama Recession/Depression"
"The Obama Socialism Experiment"
"The Obama [insert next catastrophe here]"

Everything for 8 years has been said to be "Bush's Fault"...so let's start enumerating obama faults and give each of them a name..."OBAMA".

[LetsRok]

"The market started peaked on October 9, 2007. It was off 35% on November 4 of this year. This bear market has been a long time coming, and anyone who blames it on Obama is a fool or else a liar."

The presidential campaign started over 18 months ago. Even back then, it was unlikely that a Republican could win with the fickle public's attitude about the war. Wall Street has been preparing for the eventual Obama or Hillary win since then. ALL OF THIS is based on investors fears of a Democratic administration.

[rightinthemiddle]

If the markets were up since election day, would the MSM give the credit to Obama?

[MayflowerMadam]

I’m pretty sure MSM is putting 2+2 together; they just don’t plan on mentioning it. Gulags can be soooo uncomfortable!

[longtermmemmory]

Then you had better tell the traders, the money boards, and the business cable channels.

ALL of them are factoring Obama taxes into their repositioning over the market.

like it or not it is clearly the big government obama who is driving the panic in the market.

[TexasCajun]

But, but I thought America & The World were rejoicing, all was right in the world again and the planet and its people would prosper and we all would be happy.

[mrmargaritaville]

you’re right-and if the Rs had any brains at all they would start every TV or radio interview with the following phrase:

“this economy was very strong and in good shape until the time that pelosi and reid took over congress”