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The Obama Bear Market...First President to have his own Bear Market!

Original post made by Perspective, Midtown, on Mar 6, 2009

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From the Bloomberg News above

President Barack Obama now has the distinction of presiding over his own bear market.

"The Dow Jones Industrial Average has fallen 20 percent since Inauguration Day, the fastest drop under a newly elected president in at least 90 years, according to data compiled by Bloomberg. The gauge has lost 53 percent from its October 2007 record of 14,164.53, slipping 4.1 percent to 6,594.44 yesterday."

A bear market is defined as a decline of 20 percent or more.

Buying shares “is a potentially good deal” for long-term investors, Obama said March 3. He compared daily fluctuations to a tracking poll in politics and said he wouldn’t adjust his policies just to meet market expectations.


Does anyone else wish Barack Hussein Obama, a president so much smarter than Bush, would consider "adjusting his policies just to meet market expectations", or do you want him to keep acting as if he knows more about economics than the millions of investors and business owners in the USA?

A guy who has never owned a business or stock in his life?

Open to commments...

Comments (7)

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Posted by Paul
a resident of Downtown North
on Mar 6, 2009 at 3:00 pm

"A guy who has never owned a business or stock in his life"

You mean, like Ronald Reagan?

"A guy who has never owned a [successful] business or stock in his life"

You mean, like George W Bush?

Like this comment
Posted by Jarred
a resident of Midtown
on Mar 6, 2009 at 8:45 pm

Let's see:
- stock market crash
- $1.75 trillion deficit for 2009, double the previous postwar high
- comically inept and epically corrupt cabinet
- complete inability to speak a coherent sentence without a teleprompter
- using same discredited recovery strategies that led to Japan's "lost decade"
- pursuing a carbon tax that will crush businesses and consumers in order to wage a completely pointless war on the "Satanic Gases".

Having spent a few trillion in his first months, he has been curiously unable to purchase a clue.

As an investor, what's not to like?


Like this comment
Posted by Perspective
a resident of Midtown
on Mar 7, 2009 at 6:47 am

I wonder when Obama defenders are going to realize that Bush and Reagan are gone? And that, regardless of what they BELIEVE to be true about either of them ( such as Paul above) the RESULTS of economic prosperity and increased USA (and world) security are what people remember.

What will we remember about Obama?

Like this comment
Posted by Perspective
a resident of Midtown
on Mar 7, 2009 at 6:49 am

jarred, that is hilarious "curiously unable to purchase a clue..."..thanks

Like this comment
Posted by Marvin
a resident of Charleston Gardens
on Mar 7, 2009 at 7:47 am

Perspective, like Gary, is so -filled with hatred towards Obama that they troll the internet fior factoids to bash him with. How shocking that in 6 weeks Obama has not been able to correct what the republicans did in 8 years. Of course, as most of us know, whatever Obama does it will never be goo din the eyes of hatriots like Persepctive, Gary and their alter egos like Jarred. Rush Linbaugh will be proud

Like this comment
Posted by Sharon.
a resident of Midtown
on Mar 7, 2009 at 11:07 am

When you look at what Barack Obama believes, it’s necessary for the country to be so insecure that it looks to a big security nanny state with enormous powers to provide a kind of safety net for us all.

His priority is to make sure that people feel sufficiently insecure that they’ll go along with this big nanny state apparatus.

Like this comment
Posted by Perspective
a resident of Midtown
on Mar 7, 2009 at 11:20 am

Again, as usual..not hatred for Obama, or Pelosi, or Reid, or Schumer, or Durbin etc.

Hatred for the policies we believe will destroy our economy, our liberty, and our security.

Unlike the left, we don't hate people, we hate the underlying philosophies that drive really bad policy.

On a more positive note, I am starting to hear some thought that we may be more or less stabilizing out in the market. Maybe we won't hit more than 10% unemployment, nor lose much more in the stock and real estate market.

So much depends on if our leaders can keep a muzzle on their bad ideas for awhile...

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