Posted on 08/05/2011 8:01:34 AM PDT by maggief
For more than a year, there has been one economic indicator that President Obama could always count on as a good-news salve to the festering sore of grim unemployment and jobs data.
Until now, the stock market — and more specifically, the Dow Jones Industrial Average — had been on a long, steady increase, adding nearly 3,000 points, an increase of almost 30 percent, between June 30, 2010, and July 22, 2011.
Since Mr. Obama took office, the market has gained steadily even as the overall economy has sputtered along and job growth has remained anemic.
But in the last two weeks, the market has suffered an abrupt correction, giving back nearly 1,300 points on the Dow — more than 500 of them on Thursday alone.
Politically speaking, the news could not come at a worse time for Mr. Obama. The weeks-long battle over the debt ceiling has pushed his approval numbers down, especially where the economy is concerned.
(Excerpt) Read more at thecaucus.blogs.nytimes.com ...
April 1, 2010
Wouldn't this be "Bush's Fault"?
The Democrats are trying to blame this latest economic indicator, the stock market, on those “pesky” Tea Party “terrorists” and their stubborn insistence that Congress stop the gluttonous SPENDING before agreeing on the debt ceiling. Which never really happened, no thanks to the Senate. - Anyone notice the smug expression on Harry Reid’s face these days?
It used to be TAX and SPEND. Now, it’s that, and also SPEND first, then TAX.
Once again, the unemployment numbers are dismal. Who are they going to blame for that to get Obama off the hook?
And now, my computer won't let me Google access to "Crash Protection Program." Believe me, it exists.
Plunge Protection Team
August 4 was Obummer`s 50th birthday.
August 4 2011 stock market crashes 500 points.
Coincidence? Or a sign of something more sinister and evil?
I also can't Google that term, but I can Google "Bill of Rights."
Our government? ... at work?
Wasn’t the gain from 2008 to 2011 mostly due to one big, giant government sponsored crutch?
Happy Birthday Obastard. Hope you had fun fiddling with your movie star friends.
I bet lots of those "independents" who had money in the market and voted for this goon are learning - the hard way - that socialism is bad for business.
Exactly. Multiple trillions of dollars (TARP, stimulus, QE 1 & 2 etc.) was injected into an economy with intrinsic fundamental problems.
Now that all of the money is spent, we're stuck with the same intrinsic fundamental problems with a few bonuses - like the Eurozone collapsing.
I don’t think the stock market is a barometer of our nation’s economy. Back in the day when Wall Street cared about Main Street, yes, but those days are over. Wall Street couldn’t care less about Main Street.
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