Friday, March 6, 2009

The Obama Stock Market

I've been wondering how all the people who voted for Obama feel now after watching their 401K values tank in value since Obama took office? Don't blame me, I didn't vote for him.

Back in the fall of 2007, on his show, "The GOP, the Economy, and You", CNBC analyst Lawrence Kudlow was positively prophetic when he proclaimed that the prospect of a Democratic presidency is very bearish for the markets. When it comes to economic growth and the markets, I tend to put more stock in what Kudlow and Jim Cramer say, as opposed to Democrats in the House and Senate such as Barney Frank and John Kerry, who've been Washington politicians since the 1980's. Kudlow and Cramer actually worked on Wall Street and know how the markets operate.

On 1/21/09, the day after Obama was inaugurated, the Dow Jones Industrial Index closed at 8228.10. Today, 3/6/09, the Dow closed at 6626.94. Six weeks of market carnage due to the Obama policies and lack of action to help stabilize markets. How low can it go? Where's the bottom?

I'm already longing for the days of June 2008, when my 401K hadn't plunged, the Dow was at 12,300, and gas was $4.05 a gallon.

1 comment:

Nick McNulty said...

Yep, Obama is an ideologue, he and Pelosi are trying to do to the U.S. what Hugo Chavez did a few years ago in Venezuela. I had really hoped I was wrong about Obama and that his socialist record as a liberal Democrat senator would be abandoned now that he is the president of ALL Americans, but part of me knew he wouldn't.

Mike Huckabee was talking about a book called "How Democracies Fail", by a French communist of all sources, and the author says that sooner or later, an unsustainable percentage of the population begins voting out of self-interest from the treausury, like we see today. That theory sound familiar at all Kevin?

I have the solution to America's socialism problem - only taxpayers vote, period. Voter rolls are generated by IRS records, and the shrinking minority of us paying taxes vote, the growing rolls of welfare dependent layabouts, transient college students, and illegal immigrants do not vote, unless they vote with their feet. Problem solved. The Democrat majority and Obama presidency would fast fade to black were the people supporting the system governing it again, as the founding fathers envisioned.