Thursday, November 20, 2008

the "Barack Market"

The market was going up until the day immediately after Obama won the Election.

1 day of Obama as President-elect = 486.01 point drop

2 days of Obama as President-elect = 929.49 point drop

7 days of Obama as President-elect = 1342.62 point drop

14 days of Obama as President-elect = 1628 point drop

Coincidence ?? hmmm....Why did the market choose exactly on the day he was elected, (of all times), to reverse its rise and instead drop? And why does it still continue to drop nonstop?

Fox News calls it the "Barack Market"...

"The market has fallen in six of eight days since Barack Obama won the election. The Dow Jones Industrial average has fallen from 9,625 to 8,497, a 12 percent decline. The NASDAQ and S&P 500 have experienced similar declines.

The Wall Street Journal and others have labeled the drop the “Barack Market,” reflecting the higher taxes on everything from capital gains and dividends to income and increased regulations. They are right, but they are thinking much too narrowly. Much, if not all, of any recession and economic problems is due to Democratic policies."

tip from Burning Hot

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