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Wednesday, February 25, 2009

The Obama/Stock Market Connection... (Part III)

Political Cartoon by Gary Varvel

((Click here for "The Obama/Stock Market Connection Part I"...))
((Click here for "The Obama/Stock Market Connection Part II"...))

Allow me to provide you with yet another visual before I offer some closing remarks on this issue:

Dow Jones Industrial ~4 year analysis (click to enlarge)

  1. Democrats take over both the House and Senate
  2. Obama announces his presidency
  3. Housing and credit worries sweep the markets
  4. Housing bubble bursts
  5. Obama’s intrade odds against Hillary Clinton begin to climb steeply
  6. Obama wins the democratic nomination
  7. DNC Convention concludes
  8. Obama overtakes McCain’s momentary poll lead (notice the Dow drops after the lead change, not before it – thus indicating the Obama’s poll edge lead the economic down turn, it didn’t follow as the left-leaning media insisted).
  9. Obama wins presidential election
  10. Obama, Pelosi and Reid begin stimulus plans
  11. Obama’s Inauguration
  12. Announcement and passage of Obama’s “stimulus” bill
Does any of this mean that Obama is responsible for every market drop we've experienced over the past year? Certainly not. The economy is perfectly capable of fluctuating irrespective of Obama, or any politician for that matter.

I'm well aware of the various economic factors which have negatively impacted American markets. Caterpillar Inc.’s warning that the housing slump was infecting the wider economy likely served as the catalyst of the housing market bubble burst. In February, The Institute for Supply Management’s non-manufacturing index data showed the worst monthly contraction in the services sector since the last U.S. recession and Standard & Poor’s warned it could cut bank credit ratings - which sent stocks dropping further. Oil prices plummeted and fueled inflation fears, and the credit and mortgage markets have only gotten worse.

I've never contended that America wouldn't be in a recession if not for Barack Obama. What I've contended, rather, is that he has made a bad situation worse. The chart above shows that Obama's political successes have hurt the markets. The markets drop every time his economic policies enter the limelight. Whether he has directly or indirectly affected the markets is debatable, but what is not debatable is that he has negatively affected them.

Here are Neil Cavuto and Charles Payne discussing Obama's impact on the stock markets:

Now for the bomb shell... none of these facts will even matter. In a couple of months, liberals will have molded their revisionist history, and Obama's role in this recession will be erased from the annals of history - just as Clinton's role in the 2000 recession seems to have escaped everyone's memory.

Even more sinister is the unavoidable catch 22 this creates for Americans. Every single American wants this recession to end, and it will. The markets cannot drop forever. But when they do reach rock bottom, Obama and his cronies will be there in full force, claiming they have "ended the recession." Obama's stimulus bill, which has clearly caused the markets to tank more dramatically in recent days, will be credited for the rebound as a means for justifying liberals' efforts to buy themselves a more socialized country.

Never mind the fact that this recession is bound to end eventually anyways. Never mind that fact that when the markets bottom out and begin to rebound, it will be in spite of Obama's policies, not because of them. Never mind the fact that, when the dust settles from this panic storm which Obama has wrought, this country will have increased its national debt by over 25%. Never mind the fact that when this is all said and done, the government will own and/or control between 1/3 and 1/2 of the entire nation's wealth. Let's not pay attention to the fact that when people begin to rely on the government for work, they can no longer hold that same government to an objective standard. Let's pretend that socialized spending initiatives aren't a blatant attempt to buy votes for the politicans who crated them. Disregard the fact that all of this is NOT conducive to a functioning republic. Let's just ignore the failed history and context of socialism all together, and plod along in a daze because Barack Obama reads empty platitudes and falsehoods off of a teleprompter well. Let's continue to count ourselves amongst the bleating heard of Obama sheople, blindly eaiting up every word he utters as if they were subsidized gumdrops from heaven.

And never forget, we're not allowed to use the word "socialism" in educated discourse any more. Why? Because Keith Olbermann and Chris Matthews said so.

At the risk of sounding like "Nobody Messes With Joe" Biden: Mark my words, because school books are generally written and proctored by liberals, we will one day find our children and our children's children reading text books which suggest that Obama saved this country from a recession which was solely George W. Bush's fault. No mention will ever be made of the Obama/Stock Market Connection - it will be as if he never existed until the markets rebounded.

President Obama will be our messiah, even if liberals have to rewrite history to make it so.

((Click here for "The Obama/Stock Market Connection Part I"...))
((Click here for "The Obama/Stock Market Connection Part II"...))

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