President Barack Hussein Obama (let's just call him "H") signed his Trillion-Dollar Turd into law today. Full of earmarks and pork, but very light on jobs, the market sold off 3% to show their doubt that the socialization of America will work. Clearly the market doesn't like Obammunism. To prove my point, I decided to look at market closes on noteworthy days during the leadup to where we are now. How long until someone calls this recession what it really is? The Obama Recession.
On Oct 9, 2007, the Dow Jones Industrial Average hit its all-time high of 14,164.
On Nov 19, 2007, Barack Obama took the lead in the Democrat primary race for Iowa- the Dow was at 13,176.
On May 9, 2008, Obama took the lead in superdelegates for the Democrat nomination. The Dow was at 12,745.
On Jun 3, 2008, Obama clinched the Democrat nomination for President. The Dow was at 12,603
On Nov 4, 2008, Obama won the election. The Dow was at 9625.
Today is February 17, and Obama just signed into law his Trillion-Dollar Turd. The Dow is down to 7552.
In case you're counting, that's 5,624 points that the market has declined since The One took the lead in Iowa. Thanks, Obama.
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