You're correct but the Obama decline is much worse, much faster. DOW is down over 30% since election day, 25% this year alone. While it's true he inherited a mess, his money grab for socialist programs is exacerbating the problem. The house is on fire and his gang is shopping for new furniture.
Obama's Radicalism Is Killing the Dow
- Thread starter Lightningdog
- Start date
You're correct but the Obama decline is much worse, much faster. DOW is down over 30% since election day, 25% this year alone. While it's true he inherited a mess, his money grab for socialist programs is exacerbating the problem. The house is on fire and his gang is shopping for new furniture.
The difference is that Reagan had to fight inflation with higher interest rates and he knew it was going to hurt business in the short term.
Obama has said nothing about his policies being negitive for business in the short term. I am beginning to believe Obama doesn't care about equity markets. He only cares about expanding goverment.
Obama doesn't understand the relationship between markets, capital and jobs.
Obama figures he can make all the jobs he needs from bigger goverment
Interesting though that Reagan did exactly the opposite of what Obama has done. He LOWERED marginal tax rates. Obama is raising them. Reagan was for small government. Obama is for big government/socialism. Reagan set off a 18 year bull market. You ready for the 18 year bear market?
OldTrader
Bush inherited the Naz Bubble and the foundation for 9/11. He gutted through it and the dow made new highs.
Obama problem lies in the first paragraph.
"....... of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis."
Deception at Core of Obama Plans:
http://www.realclearpolitics.com/articles/2009/03/a_dishonest_gimmicky_budget.html
WASHINGTON -- Forget the pork. Forget the waste. Forget the 8,570 earmarks in a bill supported by a president who poses as the scourge of earmarks. Forget the "$2 trillion dollars in savings" that "we have already identified," $1.6 trillion of which President Obama's budget director later admits is the "savings" of not continuing the surge in Iraq until 2019 -- 11 years after George Bush ended it, and eight years after even Bush would have had us out of Iraq completely.
http://www.realclearpolitics.com/articles/2009/03/a_dishonest_gimmicky_budget.html
WASHINGTON -- Forget the pork. Forget the waste. Forget the 8,570 earmarks in a bill supported by a president who poses as the scourge of earmarks. Forget the "$2 trillion dollars in savings" that "we have already identified," $1.6 trillion of which President Obama's budget director later admits is the "savings" of not continuing the surge in Iraq until 2019 -- 11 years after George Bush ended it, and eight years after even Bush would have had us out of Iraq completely.
I think that is one of major points of the article. Obama is raising income and capitol gains taxes during a recession. In addition, he is also proposing a carbon tax that will increase energy costs, as well as goods and services produced with energy.
"President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown"
Exactly, this little pipsqueak unedumacated, LIBERAL, card-carrying, pinko caused all the investment banks to fail, caused the dollar to plummet, caused the world to overheat, forced America's fine defense contractors to cheat the hell out of us taxpayers, and caused our brave boys and girls to torture our enemies, and NOW he wants to "re-engineer" our wonderful US economy by proposing a net of over two trillion dollars of tax cuts in his budget. He's a commie for sure.
Exactly, this little pipsqueak unedumacated, LIBERAL, card-carrying, pinko caused all the investment banks to fail, caused the dollar to plummet, caused the world to overheat, forced America's fine defense contractors to cheat the hell out of us taxpayers, and caused our brave boys and girls to torture our enemies, and NOW he wants to "re-engineer" our wonderful US economy by proposing a net of over two trillion dollars of tax cuts in his budget. He's a commie for sure.