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TI had a chart up but it caused Internet Explorer users to get an error message.
What happened was that on inauguration Day, the market fell 332.13.
With his ascension to the throne, The One made a statement... or two.
And the Market made a statement as well.
Right now, it's shouting "7949! 7949!"
Welcome, Mr. President. You are now fully on the ground... but are you up and running?
The Market doesn't seem to think so. I wonder why?
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4 comments:
You don't understand economic fundamentals and principles, do you? One speech can not fix the economy that has taken years to ruin you moron.
...but given his comments caused a further decline, it does indeed mean something. I knew stocks woud fall after he assumed office, and they will continue to fall as long as he sounds like he is taking a socialist track.
His speech did nothing to assuage fears of socialism.
Best regards,
Gail S
On the contrary, the market reacts to all sorts of events. A soldier getting shot in Iraq can send the market down. The Dow is a psychological barometer. If investors were happy with B. Hussein Obama, the market would reflect it today.
Thank you so much as yet another courageous example of the diversity of thought the left abhors.
Given the huge amount of money I pay in taxes, I believe I have at least some modicum of understanding of the process and the economy.
What I know and believe is outlined in this post: http://clarkcountypolitics.blogspot.com/2009/01/so-mr-obama-wants-to-put-is-in-debt-for.html .
What I also know is that the Market, had they any faith in Mr. Obama's view (I hesitate to say "vision," since he has yet to show a financial vision as much as he's shown a political variety) most likely would not have tanked, today.
I have repeatedly acknowledged on this blog that time will tell. But no time at all is required to see that Mr. Obama intends to bury us in a mountain of debt. Nor is any time at all required to remember his allegations against Mr. Bush in that regard, calling him the "most irresponsible president in our history" for soing precisely the same thing.
It is not "bad" for one president to bury us in a pit of debt while it is also, somehow, "good" for the president YOU support politically to do the same thing.
If it was bad for Bush to spend like a drunken sailor, it is also bad for Mr. Obama to do the same. Double-standards, you see, are not allowed on this blog.
Thank you SO much for setting me straight.
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