A few weeks ago when the Dow was closing down almost every day we would see a couple of questions a day from people blaming the drop on Obama and his economic policies. Now that the Dow has had a couple of up days where aren't these same folks who were blaming Obama for the downturn congratulating him for the upturn. I mean, if he IS in fact responsible for one he must be responsible for the other, right?
2009-03-13T07:41:57Z
To say I'm dissapointed in the replies so far would be an understatement. I was trying to point out the ridiculousness, the stupidity of ideologically driven nonsensense like blaming Obama when the stock market takes a 1-day dip but being silent when it goes back up again. Mostly what I got in reply was the same Chimpanzee part of the brain ideological gibberish.
Anonymous2009-03-13T06:24:38Z
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Yeah, it's always someone else's fault isn't it?
That is the American Mantra.
It's amazing how much power one man holds. He must truly be GOD.
Did you not learn anything in High School US Government class?
The President (Democrat or Republican) does not, I repeat, does not control the economy.
Now if you go to a higher education level and take Econ 101 in college you learn you learn is while government does have some effect on the economy it's by no means in control. And you also would learn that government can screw up an economy easily but it can't fix it as easily as it screws it up.
Yup --- Pssst - I'll let you in on a litttle secret -- The Dow Jones RESPONDS to Obama. If the Dow HAS faith in Obama...the Dow goes UP. If the Dow has NO FAITH in Obama....the Dow goes DOWN which is why the Dow IS going DOWN & DOWN & DOWN.
There is no logic to your question. If Obama is bad for the stock market, then, when it goes up, it does so in spite of him, rather than because of him. Indeed, Obama has been caught with his pants down, spouting his knee-jerk blame Bush negativity while GM, Citi, and Bank of America all gave more optimistic assessments. The other factor at work is the impact of Warren Buffett calling Obama out on no less than four important policy matters. The market likes that Buffett has the courage and perspicacity to do that. With a good president in office now, the Dow would be at about 12,000.