Posted by: franklynchusa | February 23, 2009

Barack Obama’s Greatest Legacy: The Obama Stock Market Crash

Use any stock market chart covering ten years. Observe that when the national public opinion polls in May 2007 showed that Obama would be the next President the market started down from 13,000 to almost half that level today.

In contrast, during Bush’s Presidency the market went up almost thirty percent.

So who is the better President?

Bush up 30 percent over eight years

Obama down 50 percent in nine months?

Duh?

Only Nadya Souleman messed up worse in nine months!

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Responses

  1. The stock market sure doesn’t seem to like Obama. Even his speech last night did not do much to give a bounce to the stock market. In fact, it fell.

    This man cannot stop traveling and talking and smiling for the cameras. I grant that he is photogenic, and has an attractive way of speaking and handling himself. But, does he intend to spend any time in Washington working?? Or, would that be out of the realm of his experience?

  2. And eight years of gutting and deregulating the markets, all but destroying oversight by the NEC, the Commodity Futures Modernization Act, leveraged buyouts (as well as other practices that led to the Crashes in 1929 and 1987) had nothing to do with it, right? The market crashed in 2008- under BUSH’S watch- not 2009. Your reasoning- if you can call it that- makes no sense. Of course the numbers were up under Bush-that’s what happens before a crash. And of course the numbers went down under Obama- that’s what happens AFTER a crash, and it would have happened no matter who got into office. There are plenty of reasons to criticize Obama but blaming him for the latest financial meltdown is ridiculous- and so is your premise, whatever it is.

  3. Actually, Obama’s first discoverable act as an attorney was in 1993 teaching Acorn courses on how to occupy bank boardrooms to force the banks to give mortgages to people who could not qualify for a $300 credit card. That was followed by lobbying Sen. Dodd and Rep. Barney Frank to grant a federal exception to state mortgage broker laws so that Acorn could recieve tens of millions of dollars in commissions without being licensed as mortgage brokers, on mortgages that they forced banks to accept. So obama was at the very genesis of the problem.


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