Wednesday, August 1, 2012

Physics May Have Found the Basic Particle of Life, But They Cannot Explain This

Stock Market Rises Dramatically Since Mr. Obama Inaugurated And Business Owners Hate Him

Go Figure

The recent Gallup poll has this finding about the popularity of President Obama among business owners.

Poll: Obama disapproval highest with business owners

7/27/12 6:00 AM EDT
President Barack Obama’s job disapproval rating is higher among business owners than with any other major occupation.
According to Gallup Daily tracking from April to June, Obama’s disapproval rating with business owners is 59 percent, compared to just 35 percent who approved of his job performance. His approval rating dropped 6 percentage points between the first and second quarters of 2012 – the biggest decline among the 11 occupational categories listed by Gallup.
The polling organization defines business owners as owners of a store or a factory, or self-employed such a plumbing contractor.

One can easily imagine why business owners in general along with Wall Street professionals and high earners are furious with Mr. Obama.  Well, actually one cannot.  See first of all there is the stock market.

Dow Closes Above 13000; First Time Since May 7


The Dow Jones Industrial Average capped an unusually volatile week Friday with a triple-digit jump that pushed it above 13000 for the first time since early May.
Investors pushed up U.S. stock prices, joining a global advance, amid growing expectations that the European Central Bank would soon step up efforts to alleviate the growing crisis in the region. But prices of Treasurys slid on the news.
The Dow gained 187.73 points, or 1.5%, to 13075.66, its first close above 13000 since May 7. The Standard & Poor's 500-stock index advanced 1.9% to 1385.97, its highest close since May 3, and the Nasdaq Composite added 2.2% to 2958.09.

Hm, let’s see, since the market was around 9,000 at the beginning of the Obama Presidency it is hard, not make that impossible to determine just what the business and investor community is mad about.

Paul Krugman has the most compelling answer.  Mr. Obama and the Democrats don’t say nice things about them.  Yep, that’s probably it, since no other explanation is available.


  1. Obama has said plenty of nice things about American business. I think a more compelling answer is that Republicans constantly repeat that Obama and Democrats are anti-business and that their policies will destroy business. Combine this theme with the popular perception of Republicans as the party that understands business and hard work (why, they're the ones always appearing in WSJ OpEds!), and many members of the business and investor community irrationally believe that Obama is out to get them.

    The saddest part is that everything the Republicans say about business is based on numerous false premises that they have successfully integrated into mainstream thought: supply-side economics is sound; taxes and regulation are evil; spending does not create jobs; the U.S. budget can and should be balanced; it is bad for the U.S. to run a national debt that grows with its population and economy. By winning the war on gaining widespread acceptance of these fallacies, Republicans can brand Democrats as anti-business just by their refusal to believe them.

  2. Few things get close to making me lose the willl to live like the argument that Obama is horrible for and hates business! I own several and he hasn't hurt me at all. When I bring up the DOW as evidence that he's not anti-business it is slways met with the sound of crickets! Idiots!