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President Barack Obama may end up unhappy with Tuesday's election results, but he can be satisfied with one referendum on his term in office: The stock market.
The S&P 500, a broadly based measure of stock market health, is up nearly 48 percent since Obama was inaugurated Jan. 20, 2009. The Dow Jones industrial average is up nearly 40 percent over the same time period.
Of course, it's worth noting that the stock market fell sharply between the election that put Obama in office and his inauguration, amid gloomy fears that the country was heading for the next Great Depression. The S&P is up just 18 percent from Nov. 4, 2008, and the Dow is up nearly 16 percent in that time period.
Those fears turned out to be unwarranted.
Unemployment is still well over 9 percent and the economy is expanding at a sluggish 2 percent rate, but the recession technically ended in June 2009.
The stock market rally technically began about six weeks after Obama's inauguration, after a report that battered banking giant Citigroup had turned a profit. The Dow is up nearly 70 percent since bottoming out in March 2009.
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Since the Government has control of the Stock Market who can dispute what goes on?? This is not free enterprise this is socialism at it's lowest level Obama has seen every way to try to stay in power.
The report fails to mention that some areas of the country have technically slipped back into a recession, while others are borderline. Nor does it mention that this is the worst recovery we have had since the Great Depression. And , the unemployment number seems to be stuck, at or above 9.5%. We are experiencing a jobless recovery, with businesses admitting they are to afraid to hire, afraid of the Obama administration agenda. Also, at 2% growth of GDP, which is the predictions for next year, we will not see any substantial job growth. The 99ers, 99 weeks of unemployment will give way to the 150+ crowd, meaning 150+ weeks of unemployment compensation.
It's like getting into a head-on collision in your car and you want to blame and sue the car company for leaving you with broken bones from the airbag and a weeks stay in the hospital. When in fact the car company's air bag and structure of the car saved your life. Democrat or Repulican, we would be in the same spot as we are today with the economy. We could have been in much worse shape. Much worse! People have no idea what tough times would have been.
We are spoiled Americans who think everything should improve NOW. You don't go through what we did and expect happy smiles on all Americans within two years. This will take a LONG time to recover people. You can talk about how to get there and disagree, but the anger is just political rhetoric and has no fact base behind it because nobody has been through this situation before.
I'm an Independent who usualy votes Republican, but free enterprise will get us in this mess and will again in the future. That's the nature of the beast with capitalism. I love capitalism and that's our engine, so you have to understand the pain behind it along with the benefits that make this the best country. The key is to have more balance politically to avoid huge swings, otherwise we drive the car across the yellow line and force the head on collision with economic trouble.
The government controls the stock market!!! Are you NUTZ!!!??! Jeez, you folks will look for anything, make up anything to pile unfounded criticism on Obama. At least keep it in the realm of logic. The markets have gone up. Undisputable. And that's a business estimation of near future economic conditions. Those are facts. Of course there are areas of the country where people are still really really hurting, but an argument can be made that Republican obstructionism prevented a better, greater stimulus plan from benefiting a wider range of citizens (as if the largest tax cuts in history - fact - coupled with funding of more than 15,000 infrastructure and green projects - fact - wasn't appreciable...). At least provide a basis for your complaints instead of bellowing like a hurt cow just out of general principle......
Well JERSEY BOB the government saw fit to intervene in the stock market and how it was handled==do you really think OBAMA let it go at that?? The government has control of what they do==so what do you call that???????
I would rather have socialism over free enterprise any day if free enterprise allows for corporations to function unethically and allow for the corporations to function like citizens in the US. They are flooding the airways trying to control how people vote and that is Illegal the justices that allowed for this to occur needs to stop working for special interest groups and start working for the American people. Judge Alito sucks and Clarence Thomas!!!!
When you have corporations and elected officials working against the American people there is no longer free enterprise but, a system set up to keep the rich rich & the poor poor.
so, I don't care what happens to those at the top anymore not when I'm in the negative after getting paid every week. they don't care about how we are fairing here on the bottom or even if we are able to live at all.
Again: Get your facts straight - and don't put a fictitious spin where there's nothing to back you up. The government did not intervene in the stock market - didn't even suspend trade, usually the first step in such intervention. The government did "buy" much of GM and Chrysler. That's certainly not "controlling the stock market." And did you ever read of governmental decisions on the auto industry's processes or paths to recovery? Nope.... In fact, GM is having its IPO soon - and the government will likely make a profit (eventually) on its bail out - just as it has already from the banking bail out..... Yep, the government did prop up the banking industry - without such help the entire banking infrastructure likely would have collapsed. But that's not the stock market either, now, is it? Yes, the banking bail out did influence the stock market. Hell, so does the World Series and Super Bowl. But there is no government conspiracy to control the stock market. You imply that the government owns the stock market. Please send me some of the stuff you're smoking......
The stock market is UP because it knows that oblahblah is on his way OUT! Anyone who says the market is controlled, has obviously never participated in the markets in a sensible manner. They have probably been burned by some stock broker in Florida who has never stepped foot on a trade floor and just wanted to make money, then thought they could do better by doing it themselves and opened an ETrade account and lost even MORE money. oblahblah is on his way out, health reform will be repealed and the country can finally get back on its feet.
Pathetic. Trying to equate the stock market rise with some kind of "approval" of Obama is flat out misleading and extremely ignorant. The market has gained far more than the economy largely due to increased trading efforts by the bailed out banks and movement of cash from real-estate speculating to stock speculating. If Obama had resigned or been impeached we would have seen much larger gains. It is no coincidence that stocks just had their best Sept and Oct in years because it has become clear that the Dems and Obama's agenda will finally be kept under control after the midterms.... as is acknowledged in nesweeks article:
"Will a Republican Sweep Make Stocks Surge?"
http://www.newsweek.com/2010/11/02/will-a-republican-sweep-make-stocks-surge.html
A wall street surge on Dem losses shows just how much "approval" there was for B.O.'s agenda.
The stock market is UP because it knows that oblahblah is on his way OUT!
Pure Capitalism, I am assuming oblahblah means Obama. Obama still has 26+ months left in his 1st term. The stock market bottomed out in March 2009 at around 6,600 it really couldn't go any lower. Under Obama's leadership the economy was stablized and although the growth is enemic it is growing. I find it interesting how short the memory of so many people is. Do you forget what Obama inherited as president. I am confident that the market will continue to grow slowly unless unforseen disasters help cripple the economy again. Does anyone here actually think that the country would be in better shape had McCain/Palin won, If a bunch of you do, God help this Country.
Hey! Thats a pretty darn good assumption! You must be a college graduate! If it offends you tough @!$%#. I've heard 'shrub' for years, deal with it. Sorry to correct you but oblahblah has 26 months left in his ONLY term. Do you forget what Bush inherited? Next you're going to blame Bush for 9/11. I am confident the market will continue to grow as well, but not because of oblahblah. Unforeseen disasters help? Are you implying that we may be attacked again? But not during oblahblahs reign. He fixed all that with his mooslim brethren. I believe it would have been better, YES. John, before you reply, check my profile. DARE YA.
Do you forget what Bush inherited? Next you're going to blame Bush for 9/11. I am confident the market will continue to grow as well, but not because of oblahblah. Unforeseen disasters help? Are you implying that we may be attacked again? But not during oblahblahs reign. He fixed all that with his mooslim brethren. I believe it would have been better, YES. John, before you reply, check my profile. DARE YA.
No I didn't forget what Bush inherited I think it was a 100 billion plus budget surplus. I didn't check your profile, but I would guess I would see a picture of some Bozo who loves his fox news, or some white trash piece of @!$%# dressed like a klansman. Deal with it this election will actually help Obama win a 2nd term because the microscope will be under the do nothing republicans.
One more thing fear monger their are other devestating disasters besides terrorist attacks. So obviously to people who actually think for themselves, I wasn't implying anything.
So once again, you are assuming something without checking facts. Fear monger? You must think that the world is a pretty rosy place huh? You betchya I'm afraid. I am VERY afraid. When people like you ASSUME that nothing is wrong, thats when you SHOULD be afraid. I will make every effort to secure what is mine. You can let others take your @!$%# and then blame others for your losing it. Not my problem if someone takes your stuff. Your fault, not my problem.
Well I for one am not pressing the panick button, seriously is the environment you live in that bad.
Thanks for letting me take responsibilty for my possessions. Forgive me if I don't answer right away I am in my bunker and I only have 2 hours worth of power per day for computer activity.
Well Bush had been in office almost 9 months, and they did allow 911 to happen. George was in reading class while Dick ran the show. By the way half of the clowns on this post blame Clinton because he did not kill bin laden. Bush did not kill bin laden because he had to have his liars war in Iraq.
1. yes. I also think that if John Boehner and the Republicans hadn't begged Congress to bail out the banks back in Sept '08, we'd be in far worse shape than we are now. Like THIS:
In late September 2008, when the United States financial system was in freefall, Boehner took to the well of the House and tearfully begged the Republican caucus to support the Bush bank bailout of Wall Street and the “too big to fail” banks, officially known as the “Emergency Economic Stabilization Act of 2008″:
What? You didn't know that? You've really got to start looking past Fox for your information, Ellie.
2. The government has no more "control" of the financial industry than it's had in the past. Some old rules to prevent cheating YOU got put back in place this past year -- that's after the Republicans made those rules disappear in the last ten or more years.
Ellie, I get the feeling that you're a frightened older lady. I hate that for you, and I mean that. I also wish you'd realize that you're being taken for a ride by a bunch of GOP thugs who couldn't care less what happens to you - they just want you to vote for them and then conveniently shut up. They'd like to get back to making money hand over fist at your expense.
So dont press the panic button, but nothing wrong with being prepared. So when the balloon DOES go up, dont you dare come running to my place looking for food, shelter, and water. The only thing you'll find is the business end of a Winchester 101 double barrel over and under staring you in the face. Go ask your Savior Uncle oblahblah to help your sorry ass. Guess what, he wont be around! I'm not sayin go live in a bunker right now, but theres nothing wrong with being prepared. Like a good Boy Scout 'Be Prepared'. Todays world IS unpredictable. If something went wrong, it wouldnt take long for a situation to deteriorate. Unfortunately, you would be one of the people that would hasten that deterioration. Look at hurricane Katrina. How long did it take for the government to get WATER to them? How long was it before the first person was murdered in the Super Dome? It happens faster than you might think..
All may be rosy in your neck of the woods. I live mere blocks away from Cabrini Green in Chicago. I live in a world of reality bucko. People on the streets have guns. Do you think the Chicago Police will give a @!$%# if it all went to hell in a hand basket?
of course, we all know that the stock market has a liberal bias!
The people that won't give Obama any credit for anything are losing their credibilty. You want to be angry be angry but start spreading the blame around for crying out loud. Did you read the damn article, the stocks were in the tank BEFORE he became president. So if the government controls the stock market please tell me why they tanked it? By that way that would have been done by the previous administration.
The economy is recovering MSNBC, tell the people instead of promoting the Republican agenda vicariously through the Republican TEA Party. Obstruction is obstruction and the mere fact that you guys continuously promote a party and give no voice to Progress, speaks volumes about you guys "Leaning Backwards".
Sorry President Obama does not have a magic wand, but he does have a brain. C O'Donnells need not apply because we don't believe in magic wands.
OBAMA don't have a magic wand but he does have a lot of ----with him==The only intrests he has is himself and the damage he can do to this country and being payed for by the TIDES FOUNDATION,APOLLO GROUP,GEORGE SOROS,CLOWARD&PIVEN for their own personal agenda.
Aside from improving poor spelling and grammar, you should really be careful about casting aspersions on Democratic agenda - as in Glass House Syndrome. There is near universal agreement that the Dems really do care greatly for the country and its people and are sincere in their efforts to promote recovery The Republican argument is that the Dem proposals for recovery are wrong-headed. You say the Obama and the Dems are deliberate in efforts to ruin and destroy??!!?! You really need to get some professional help......
Obama don't [sic] have what again? Your ignorance and willingness to be lead around by the nose by those with a right wing agenda is showing.
Thank you for being a voice of reason Jersey Bob, I couldn't have said it better myself.
I've read Ellie's responses before.
What I've come to believe is that Ellie's one of the scared older women you'd see carrying "Government Hands Off My Medicare" signs at the town hall and Teabag rallies. She got pumped full of "death panel" scare tactics and she's now carried all of that forward into full-scale Chicken Little response mode. She mentioned being worried about losing her Social Security a day or two ago. Well HELL -- who's talking about killing it? Teabag Sharron Angle, for starters.
The people who'd victimize someone like her, like this, for the sake of winning an election ought to have their asses kicked, and I mean that from the bottom of my heart.
The stock market is UP because it knows that oblahblah is on his way OUT! Anyone who says the market is controlled, has obviously never participated in the markets in a sensible manner. They have probably been burned by some stock broker in Florida who has never stepped foot on a trade floor and just wanted to make money, then thought they could do better by doing it themselves and opened an ETrade account and lost even MORE money. oblahblah is on his way out, health reform will be repealed and the country can finally get back on its feet.
Pure capitalism I have traded in the market and if you have you should know there is no rationalism in the market, the ups and downs are purely based on greed and fear. Anyone could drop a sizeable order long or short and start a stampede. The market is, and always will be risky and irrational.
Ron its great you've traded. I am actually licensed and worked on the floors since I was 18, I'm 46 now. You are right it is based on greed and fear. Its risky for people who DONT KNOW how to MANAGE RISK. Its a huge problem in America. Your portfolio is the next biggest investment next to your house and most people have no frikken clue on how to protect themselves and use the market to their advantage. I wish you luck in your trading.
Obama has a brain, but like most people does not have a clue to business or the stock market.
The stock market is free enterprise and the fact that the market has done nearly 70% since the bottom is GREAT news. The government actions can influence the market but the government does not control the market. And if you're worried about socialism, the stock market tells you otherwise. You have to be a wing nut to think that there is a socialism and it is hindering economic process. Corporate earnings are extremely strong, corporations are sitting on record cash, stock P/E ratios are at very reasonable levels even after this run, and borrowing rates are near zero for companies. This is all great news and great for the future economy. Corporations are just gun shy to hire now because we came out of the worst recession in a generation. If you want to pound Obama for the unemployment rate, then give him credit for one of the best stock markets in a presidency. Of course because of timing, he shouldn't get credit for the market returns, nor should he get blamed for the unemployment. Left and right wing nuts need to be realistic and not be so impressionable with political half truths and hyprocisy.
Good point Middleman. I do wonder though if all the money coporations are putting into this election, that things might be a little better if they would have spent some of that billions of dollars on hiring people, instead of political attack ads.
Corporations are sitting on "record cash" because of uncertainty. The uncertainty generated by Obama and the Dems. People that have "record cash" don't sit on it unless they are afraid of investing it due to high risk and uncertainty. They use it to make even more money. The potential for tax increases and the costs for things like Obamacare, cap and trade, and potential big government mandates are all things that make people with "record cash" just sit on it.
I think it makes a better excuse, and better political fodder for the right, than a legitimate reason.
Your rational, reasonable and non-partisan response is indicated by the name you've chosen for yourself. Thanks for playing.
Incidentally, I am *quite* moderate. Thanks for ASSuming.
No, I made a rational and centrist comment. And the President's policies are centrist enough that much of his flamin' liberal base is irritated that he won't pursue their agenda. Let's apply a little essential logic here, shall we? You (the far right) say he's too far left. The left says he's too far right Average those out, where does he end up? Right about in the middle. What a surprise.
Just because the John Birch TEAciety has co-opted the GOP for the time being doesn't make their views sane, mainstream or viable past election day. It's easy to capitalize on fear and anger when times are difficult. If the Bags win any offices today, it's put up or shut up time.
And that is going to be hilarious to watch, because the second the Sharron Angles start pursuing their wingnut agendas, they may as well start packing their bags for the trip home.
Think people were upset over "gov't hands on Medicare"? Wait 'til Angle tries to do away with it entirely. I can't wait to watch.
Bozomba the Clown banned, flameout, probably a parachute of Rob-San Diego.
Historically, the stock market performs best under Democratic presidents. A theory -- Democratic presidents make the rank and file citizens feel good about themselves, offering programs that help the middle class and attempting to spread the wealth such that it's not concentrated with the very few. This "good feeling" in turn leads the average citizen to work harder -- feeling that their hard work will not be in vain with all profits going to executives. Harder work leads to greater productivity, more demand, more private sector success, and then higher stock prices. By the end of the Bush admin. the average worker felt trampled upon, less wealthy, and they had given up hope since the cards were all stacked in favor of the very wealthy. Obama changed this attitude just by sweeping into office without lifting a finger.
I'm not certain the above is true, but I know I felt a lot better about myself and my chances for success after Bush left office. However, there is a tipping point. Democrats go overboard too with taxes, regulation and spending. For this reason, stock markets do even better when there is a Democratic president and Repub congress. Why? Another theory -- you still get the "feel good" messages from the president, but republicans create gridlock in congress and, unfortunately, when the government does nothing, business does even better with fewer regulations and taxes.
What Planet have you been on for the last 4 years. MSNBC pushing the Republican Agenda - are you kidding? Can you spell Keith Olbermann - how about Rachel Maddow - here's an easy one Ed Shultz. Whatever gains the market has made are in spite of Obama - not because of him. No doubt he is well loved by Wall Street executives - I wish I could get all my debts paid for by the tax payers.
The only thing they talk about is what all the "tea partiers are doing". They spend very little time explaining what might be of benefit to americans in the Health Reform bill. They spent all their time jabbering about what the people who did not like it thought.
They might be liberal in their thinking but do they really do any investigative reporting on the issues. Does Fox? Does ABC? Does CBS? No, the news companies esecially the 24 hour news stations are businesses that rely on controversy and division to sell their product. If you think MSNBC has been good for Obama, I would have to disagree with you, they have been as harmful as anybody to his Presidency and to health reform, which beleive it or not, like it or not, this country needs.
The very best support they can give the Democrats is to keep quiet about the health care boondoggle. It will be several years before the sheeple figure out that healthcare reform does not mean they get free healthcare - rather it means that they will be REQUIRED to buy health insurance.
Seriously! I guess for some if MSNBC's home page doesn't look like a moveon.org or a Socialist Party USA home page they must be "pushing the Republican agenda".
I agree. The market has made its gains in spite of Obama and the Dems. Believing anti-business government leadership inspires the stock market defies simple logic.
Talk about sheeple.
"Free", my @ss. Want to know what health care reform means for me?
It means I'll be allowed to buy and pay for health insurance despite having a pacemaker implanted going on three years ago. It means I won't have to lose the home I've worked my entire life to own, in order to pay for a replacement pacemaker in a couple of years -- and another every five to seven years or so for the rest of my life. Free? I don't want free and I don't need free. I just want to be able to afford to live and see my grandchildren grow for a few years.
The Republicans didn't want me to have that. In return, I choose not to believe a single word those bloodsuckers say.
They're the best votes he could afford with the tax dollars we have left to us.
LOL, Obama-slam FAIL!
But, but, but he is anti-baseness.
The stock market is up simply because the adminstration both Bush and Obama spent a great deal of money underwriting (read bailed out) the bad decisions/unscrupulous practicies on Wall street. It is interesting that so much ink is spilt defending the policies of the current administration as economic life savers. If the recession technically ended in June of '09 then the policies the current administration enacted had not had a chance to take effect (some of that money has yet to be spent). Now the questio we all should really ask is what have you all done with our money?
Today many of the same people who created our economic problems will be rewarded with the opportunity to make Obama's job even more difficult. However, the GOP is going to have to present its proposed solutions which should provide much entertainment sense they remain clueless. The GOP is an excellent pravticioner of the politics of personal destruction, but miserable at governing.
And the current crop of droolsobbering wild eyed extremist GOPers have no chance of promoting, or even thinking up, anything resembling reasonable solutions. Don't know about anyone else, but I for one am sick of the fanatics, on both ends of the spectrum, derailing our common purpose of government through civil discourse and rational compromise. (this time they happen to be righties - they do not deserve the name 'conservative' - but any kind of wild eyed fanatic is dangerous and unacceptable in government.)
Why shouldn't the stock market be happy with Obumbo, after all they are going to have a big bonus for christmas thanks to Obumbo and co. with there bail out. While the american people are left holding an empty bag.
This article is TOTAL B.S.
The markets were at a low when Obama took office; they had nowhere to go but up.
He and his egghead friends and the Democrats gave away TRILLIONS without having a clue as to how to get the economy going again (on its own, without meddling by Big Government).
The markets are up most recently (in spite of ridiculously high unemployment) because of cost cutting by companies (higher profits), Federal Reserve policies, and IN ANTICIPATION that today's election will stop Obama in his tracks.
You're right about the markets had nowhere to go but up. Of course they could have stayed flat for a longer period of time. And the economy could be a hell of a lot worse.
The majority of the market returns came in 2009, so the notion that the GOP will take the House drove the returns only explains the past quarter.
If you're not giving Obama credit for the market, don't blame him for unemployment and the economy. It's the same timing argument.
Agreed on the TYPE of spending, but the spending had to happen. The GOP would have to do the same thing. Could have been a better form, but the spending would be the same and the results would be the same.
Bill, the largets single contributor to the Dems is the Union AFCSME. Total contribtuions form all Unions is at least as big as that of all corproations. Unions have run a ton of vitriolic attack ads. You guys have got to get over the idea that corporations are the Bogeyman. If you don't think Unions are corrupt and sometimes criminal you need to read some history and get you news from somewhere other than MSNBC.
This is one of the most brainless idiotic stories I have ever seen.
You must not read much.
This should come as no surprise. The stock market has traditionally done better under Democratic presidents. Republican economics just never works and never fails to get us into trouble.
Actually, who the President is makes no difference at all. Take any statistical measure you want and apply it to all the Presidents since WWII. I used eight measures - and they were a statistical dead heat when the President was the only criterion. However, when you add in the Congress - then things change. The absolute worst is Dems controlling all three houses; and in a close second is the Repubs controlling all three. The absolute best is Dem President and Repub in both houses of Congress. Second best is Repub President with Dems controlling Congress. When Dems control the House and Repubs control the Senate - middle of the road. Repubs never have controlled the House while Dems control the Senate since WWII - so no data for how that might work.
Repubs in the House and Senate equates to low unemployment, economic growth, increased productivity, greater exports. The last period like this was 1995 to 2005 (yes, I'm aware Jeffords switched parties)
Dems controlling both houses are 2007 to today; and 1987 to 2005. Both periods sucked (economically) overall - but the rich made a lot of money during them.
I think anybody equating only political parties into a statistical analysis of economic gains is either being deliberately obtuse or needs a better understanding of what drives stock martket growth. e.g.: 1995 to 2001 - Dot.Com bubble. Similarly the 03-08 has a strong correlation to real estate speculation and associated unsustainable grown in the housing market and everything else that fed into it (appliances, hardware, carpetting, construciton, etc.). IMHO government rarely has much to do with true growth (it is driven by consumer sentiment) and often has a lot to do with economic failure (through failure to inact regulation that would prevent super-heating of the economy).
If we are going to be ultra-pro-capitalism we need to quit bitching when the bubbles burst and we suffer the consequences - think yin/yang - the two inseperable sides of the capitalism. Fantastic stock market gains are going to lead to fantastic losses which are going to lead to fantastic gains.... You want to dampen out the negative swings then you have to have regulation and accept that growth rate is going to be dampened at the same time.
Also, the economy sucks because we the people think it sucks. Companies are sitting on cash because the people that run those companies know that we the people are negatively opinioned of the economy. You want the economy to turn around - start thinking like its turning around.
Why would companies manufactuer more products and hire more people if you are to afraid to buy their products? The funny thing is that we'll see nothing but gridlock for the next 2 years because of a split congress, but the economy will keep getting better because people are going to gradually feel better about the economy.
Maybe the stock market is going up a little because the Republians are going to get control of the house.
People need to be reminded that the Obama Administration prevented an economic depression and stabilized the economy. In 2009 there were tax cuts of $400 for individuals or $800 for married couples, energy tax credits, home buyers tax credits, car tax credits, etc. In 2008, the Bush Administration bailed out Wall Street and they deserve credit as well.
Those Dems are really quite incredible if they figured out in six weeks how to control the stock market. Considering that for a hundred years nobody has been able to do this I have to wonder if my vote for Republicans this morning was misplaced.
Do you have facts that they actually control the market or is this another email enhanced theory bolstered by some snake-oil salesman?
The very best support they can give the Democrats is to keep quiet about the health care boondoggle. It will be several years before the sheeple figure out that healthcare reform does not mean they get free healthcare - rather it means that they will be REQUIRED to buy health insurance.
The stock market is 'forward looking'. It moves based on what is anticipated to happen in the future. Could it be that the market is up today because it is anticipated that the Repubs will neuter Obama's destructive run against this country? Could it be that the general feeling of the country and investors is that 'change' is coming - good change!
Please. It rose IN SPITE OF HIM and his policies, NOT BECAUSE OF HIM!
Jan - The point of the article is that the market has rebounded greatly from Obama's inauguration and slightly from his election with a big drop between the election and the inauguration.
As my high school government and economics teacher told us, economies are cyclical. The leadership of the country has some influence but not much on the economy as a whole.
If the stock market is giving this idiot "high marks" then they deserve to lose their money in the coming crash.
Obama's policies have done more to hurt the market than help....the gains in this market have been borne by the businesses who made the cuts and sacrifices necessary to stay in business. Unfortunately, there will be no new job creation until government gets off the back of business and trying to regulate it all. Less government and free enterprise is the way out of this mess, not more. Once the Republicans take back Congress, this will slowly change....like steering a gigantic ship, but change will happen. Only when Obama is out of the picture in two years will we again see our economies at state and national levels return and bolstered by new jobs and a growing GDP. Don't be fooled, the Republicans can screw things up just as bad, but if this election can do one thing and one thing only, its to put politicians on notice that they are no different than the rest of us and they will be held accountable. Things will improve....patience is all that is needed....and a lot less government without Obama. Too bad his tenure in the White House wasn't all he dreamed...his socialist agenda was never to stand and the history books will know him by his attempt to destroy the US. Too bad for people of color trying to make a run at the big job in the future...people are really going to question their agenda.
YouAreTooanIdiot
Change your name to I am an idiot, because your racism is showing. Obama made mistakes, but his policies such as the stimulus did help avert a much worse economy and perhaps 12% unemployment.
By the way 1/3 of that stimulus was for tax cuts for the middle class remember that $400 credit you got for make work pay when you filed your 2009 taxes. In office less than 2 years and some idiots are calling him the worst President ever or already writing how history will view him.
Give me a frickin break
If the GOP takes the house the stock market will fall. That`s a fact. Then Obama will get the blame for that as well. The GOP will block everything, get back in the drivers seat and guide us to that HEAD ON CRASH. I dont wanna go back to the Bush days to where I have to bite my fingernails every monday I go to work and pray I dont get a pink slip
Right on!