The Dow Jones Industrial average since meeting Barack Obama

Update: April 24, 2012

We’ve talked before about the DJIA and the President. It’s tanked since he wrapped up the Democratic nomination. In mid-May it was obvious he was the Democratic nominee and the market has been downhill ever since. Here’s a new chart to refresh your memory:

The market reacts to what it anticipates. It plays to the future. I think it’s safe to say it doesn’t like what it sees under this guy.


P.S. You know, you disagree with Paul Ryan on one little thing and get cut of completely. No more invitations to blogger calls. :(

Comments

  1. True.

    But I think Wall Street expectations have been too optimistic for months now. I think the street is slowly coming to the realization that economic recovery in late ’09/early ’10 is unreasonable, regardless of Washington’s moves. They are beginning to price in prolonged economic contraction (as they should). The question is whether the Obama administration can put a structured bankruptcy plan in place for the big banks, sooner rather than later, to finally repair our financial system and also find a way to find some support to the housing crisis and unemployement numbers.

    So far, it appears we are going to continue duct taping the holes in the dike.

    P.S. Did Ryan cut you off or something?

  2. Randy in Richmond says:

    Remember 8-10 months ago when gasoline prices were high and heading upward. Americans were angry and Congress stomped it’s feet in outrage. As a candidate, Barack Obama, as a good liberal, had a plan to ‘fix’ things. He said let’s issue another round of stimulus checks and give most Americans a $1000 tax cut. But he wasn’t President and that didn’t happen. President Bush took the hugely unpopular decision to allow the free market to do it’s thing–against the polls and many in his own party. Oil went up to almost $150 a barrel.
    Today oil is selling for about $35 a barrel and each American household has in real cash around $150 per month more to spend as it sees fit.

  3. Please re-post this in 3 years.

  4. No one will be happier than I, Dave, when President Obama has manipulated the market to all-time highs as he begins his re-election campaign.

  5. Then you have to credit Bill Clinton, according to your logic, for the economic boom in the 1990′s.

  6. Hey, if you want to blame Clinton for the tech bubble as well as the housing bubble, fine with me.

    Actually, though, yours is not an apples to apples comparison, as you are comparing the 8 years of one presidency to the compacted time frame of six months or so for another.

    In that comperable time period, there was really no change in the stock market for B. Clinton.