Monday, March 09, 2009

Obama has plunged the Dow just as far as Bush

Let me record some numbers here that should enlighten.

At its peak on October 9, 2007, the Dow Jones Industrial Average closed at 14,164.53.

On Election Day, November 3, 2008, the Dow closed at 9,625.

This equals a 32% drop.

Today, the Dow closed at 6,547.05.

This equals a 32% drop from the day of Obama's election.

There is no question that Bush and the Congresses during his 8 years did not prevent the easily preventable housing and banking crisis. However, the market has shown absolutely no confidence that Obama can or will fix the problem. This was the Bush/Barney Frank/Christopher Dodd recession. It is now Obama's recession/depression.


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