They must be hiding somewhere, the throngs of American conservatives who are cheering for Barack Obama now that the Dow Jones Industrial Average has broken above the 10,000 mark, far higher than the level of the Dow when Obama took office as the 44th President of the United States. I can’t see them, I don’t hear them, but I know they must be out there.
I know this because just a few months ago, American conservatives were out there in droves telling the nation how responsible Barack Obama is for the performance of the stock market:
So now the Dow has dropped below 8000. Yes, I know that a good deal of the blame here goes to the credit crisis brought about by the sub prime mortgage mess. (Blame the Democrats for this one, by the way), but what role does the election of Obama play here? None, you think? Well try to think a little more. In about eight weeks we’re going to coronate a new president that is clearly not in love with capitalism. Barack Obama wrote of his flirtations with Marxism during his college years. He gravitated to Marxist professors and hung around student gatherings where Marxist literature was sold. His campaign rhetoric parroted may Marxist maxims. Now you may not like this .. and I’ll probably get some of those silly “Obama’s been elected, get over it” emails. How many of you remember any pro-capitalism statements from Obama during the campaign? Did you hear him praise the role of business and entrepreneurs in the American economy? If he said it, I sure didn’t hear it. So give me just one good reason why a capitalist – an investor, a business owner, or an entrepreneur – should feel positive about the upcoming Obama presidency?
Wall Street’s doubts about the Democratic Party’s $787 billion deficit-spending economic stimulus plan crystallized today when the Dow Jones Industrial Average plunged nearly 300 points even as President Obama was signing the bill into law in Denver.
The Dow closed at 7552.60, only a fraction of a point shy of the recent low of 7552.29 Nov. 20, just after Obama was elected. The market now is down more than 2,000 points since Obama was elected, when it closed 9625.28 Nov. 4.
Obama’s Effect on the Stock Market:
Obama’s Radicalism is Killing the Dow
It’s hard not to see the continued sell-off on Wall Street and the growing fear on Main Street as a product, at least in part, of the realization that our new president’s policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis.
On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28.
In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a massive new mortgage entitlement, the Dow dropped to to 7,606.53.
Now, imagine if President Bush had presided over a 2,000-point stock market tumble in the same time period — during the first few months of his presidency.
If you thought your personal financial situation was bad in November, 2008….. you ain’t seen nuthin’ yet. Obamanomics is killing our future already!
Funny thing. When I listen for the sound of conservatives connecting the performance of the stock market to the presidency of Barack Obama nowadays, all I hear is the sound of crickets chirping.
I know those congratulatory conservatives must be there. I know: they must be sending millions of mimes onto America’s streets to perform a congratulatory walk against the wind.