Monday, March 2, 2009

In Just 6 Months, Obama Creates Lost Decade

The Wall Street Journal today reported that the stock slide that pushed indexes to new 12-year lows picked up speed in the afternoon on fears that economic recovery may still be a long way off.

The Dow Jones Industrial Average tumbled through the 7000 level shortly after the open, then through 6900 and 6800 to finish at 6763.29, down 299.64, or 4.2%.

The Dow has fallen 7,401.24 points from the October 2007 record, a 52% drop.

If we are to agree that in September 2008 it seemed clear that Obama would be elected president, then we can say that the Dow has fallen from around 12,000 to close today at 6763.

The threat then the reality of the Obama presidency in just six months has lost a decade of earnings.

We don't need Rush Limbaugh to say he hopes Obama will fail.

Obama is failing on his own.

Labels: ,


Post a Comment

<< Home