Quote from Free Thinker:
http://www.ritholtz.com/blog/2011/01/if-this-is-socialism-call-me-comrade/
By Guest Author - January 1st, 2011, 7:40AM Global Macro Monitor produces informed opinion about markets and the global economy. This was originally published on December 31, 2010
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No politics or partisanship here, âjust the facts maâamâ. The stock market as measured by the S&P500 is up just about 50 percent since President Obamaâs inauguration to todayâs close. Only Eisenhowser comes close, but not even in the same zip code. A 50 percent stock move does a lot âspreading the wealth aroundâ and Joe the Plumberâs pension is in much better shape today than it was in November 2008!
Sure, sure, there are a ton of reasons to explain the differences, but this is politics folks! A CapEX spending led economic acceleration and pick-up in hiring in 2011, which usually follows such a strong equity performance, will make the President look unbeatable same time next year, in our opinion. Stay tuned.
The actions by the FED have more to do with the market rise than anything Obama has done.
