…Barack Obama. Case in point:
On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28.
In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a massive new mortgage entitlement, the Dow dropped to to 7,606.53.
Now, imagine if President Bush had presided over a 2,000-point stock market tumble in the same time period — during the first few months of his presidency.
Great start, O.
Just for fun, let’s take a stroll back through history. When did Obama wrap up the nomination for the Democrat party? Early June, 2008. Observe:
Right about the same time, the market began a free-fall that hasn’t stopped yet. McCain never really did achieve front-runner status, so once Obama beat back Hillary, people started gearing up for Obama.
So, although Malkin points out that Obama’s presidency has seen a drop of 2,000 points, I’d go another step further and point out that since Obama has looked like the front-runner for President, the market has fallen by an astounding 5,000 points! That’s about 42%, for those of you who like percentages.
Just to provide some historical perspective, here’s a 5-year view of the stock market…
There’s my two cents.