Posted on 12/01/2008 8:46:25 AM PST by Mike Bates
Everything good that happens is because of Barack Obama. Everything bad is attributable to George Bush or Dick Cheney or Sarah Palin or some other Republican. In keeping with these mainstream media-manufactured verities, USA Today's Web site reports "President-elect Obama's actions perk up stock market." The story begins:
President-elect Barack Obama hasn't even moved into the White House yet. But Wall Street is already showering him with praise for injecting confidence into the battered psyche of investors and working quickly to hatch a plan meant to jolt the economy out of its worst funk in decades.
A market that two weeks ago was desperate for political leadership and a clear strategy to repair the economy appears to have found it in Obama, who is fast emerging as a decisive economic commander in chief.
Stocks soared last week after Obama moved aggressively to fill the power vacuum until he's sworn in and demonstrated his commitment to dig the USA out of its economic rut.
How did USA Today determine that Wall Street is "showering" Obama with praise? Easy. They found two people who have good things to say about him. Harris Private Bank's chief investment officer opines that Obama has been "a solid force behind the recent moves in the stock market." And a hedge fund manager believes "the market is thinking that Obama will put a fix to (the economy)."
USA Today is correct that stocks soared last week. What the outlet didn't mention was that, as reported by the New York Times, November 4 saw the biggest stock gains of any Election Day in 24 years while the next day the Dow Jones industrial average dropped 486 points. Bloomberg.com noted: "The stock market posted its biggest plunge following a presidential election . . ."
The Dow was at about 9,600 the day Obama was elected. As of this writing, it's under 8,500.
That's some real perking up. It's great to see all that hope and change kicking in so quickly. In the meantime, the MSM will keep up its mantra that anything good that happens is strictly the result of actions taken by The One.
So does he also get the blame for the drop today?
I guess it depends on your definition of 'perk', huh?
Uh...what happened today? Talk about bias...
Duh!
Stocks oftentimes go up the week of Thanksgiving...and on light volume.
Today we returned to reality.
USA Today - doesn’t even have a good crossword let alone news.
No, that’s Bush’s fault. See how nicely that comes together?
What do you think? No need to reply.
USA Today “found” two people.
Wonder how long it took to find two people who would spin something positive?
I think the recent market upswing has been because Obama’s cabinet picks so far have not been as bad as expected. Don’t get me wrong, that still leaves plenty of room for them to be less than stellar. But “not as bad as expected” is often sufficient to cause a rally.
You might want to check the Dow before posting this. It currently is down about 400 points after Obama announced his cabinet.
Dow is down 400 today.
Must be watching Obama.
It is going to be a four mega disgusting years when it comes to the media reporting on Obama and attributing every good thing under the sun to him and at the same time hide all his many mistakes, many blunders and blame President Bush and the Republicans for all the ills of the world even four years from now.
Never mind, I now see the sarcasm.
I’ll consider the possibility of 0bama ‘perking’ up the stock market if it hits, say, 12,000 by the end of next year. Not until then.
Oh please. The DOW is down today.
“FLAT” is the new “UP”
Yep, DJIA down 384 points.. so much for the USATODAY:-()
Actions? All he has done so far is make appointments. He has not even taken the oath of office yet. As though the Constitution has a chance of being defended.
And here I thought it was going to be a real news story about Wall Street being relieved that Obama’s cabinet is full of Clinton retreads instead of the hard-core looney leftists were were all worried about.
I know. I hate all this gooey eyed cult of personality crap that goes with a liberal in office. Barf barf barf.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.