No Wonder Republicans Hate Him
If you listen to Republicans the Obama Presidency has been an investor’s disaster. The deficit is out of control, unemployment is all Mr. Obama’s fault, and business has no confidence in the economy and so it will not invest. In fact investors just hate Mr. Obama and will flee the markets.
The only problem with this scenario is that things are not working out quite that way. The Dow Jones is now in the 13,000 range. On Tuesday
After bouncing up and down around the 13000 level for a week, the Dow Jones Industrial Average finally closed above that psychologically important mark for the first time since May 2008.
Hm, May 2008, we wonder what party controlled the Presidency in that month?
So looking at the chart of the market can anyone see where Mr. Obama took office? Yeah, right about at the low point.
Any explanation why Wall Street is raising money to defeat Mr. Obama? Well he does want them to pay their fair share of taxes, and everyone knows that Wall Streeters would rather have lower after tax income than higher after tax income as long as taxes are lower. Everyone recognizes Wall Streeters are rich, nobody thinks they are smart.