Next time you hear a Democratic talking head spouting the usual blame on Bush regarding the current economic crisis, remember that the stock market crash started once Wall Street realized Obama could actually become President. It's not about the last 8 years, or the last 4 years. After Clinton "the blameless one" handed off the dot bomb to Bush in 2001, the stock market floundered a bit as it recovered from ridiculous over pricing in tech stocks. The market recovered in late 2002 and began a steady increase over the next 6 years. These images show that crucial spikes and dips are strangely related to points in the election that showed Obama on the rise, and then McCain surging. Once it became clear that Obama would win, the market dropped faster than flight 3407 over Buffalo.
1. Hillary Clinton Concedes the nomination to Obama on June 7, 2008. Interestingly this date in time marks the beginning of a long steady decline in the markets.
2. McCain begins a miracle comeback and it appears he may have a chance. Despite being outspent over 2 to 1, (in some mediums over 3 to 1), the market hangs tough through August but begins a decline in September as doubts grow.
3. Obama is largely considered the sure winner, and has all major newspapers, major TV networks, comedy shows, and movies supporting him all the way.
4. Despite a campaign of massive spending by the Democrats which included buying prime time on all three major networks, plus Obama's own TV channel running 24/7 on networks such as Dish, the polls actually showed some new support for John McCain as people began to realize that they didn't really know Barak Obama. Once the elections were finalized though, it has been all downhill, and not surprisingly, all the worst fears of those most nervous about Obama have come true.
Few were those who spoke out against Obama at that time (myself not included). It was all going to be great. Historic. Monumental. But the fact that we elected a spokesperson type with no actual experience has had disastrous results. You will no doubt hear Democrats spouting off about how Obama is just trying to overcome 8 years of failed policy and an economy that was in the tank, but I would argue that perhaps Wall Street knew what most Obama voters were not willing to consider: Obama would be a tax and spend liberal or worse. The man looks at economics as if we were still in the 70s, and wants people to get out their shovels. He's a showman who will let Dems like Pelosi and Rangel do the actual legislative work, which is frightening. I don't really want to see laid off Microsoft employees shoveling highway ditches, and unemployed small business executives doing some landscaping work to save the mouse. I would prefer to let businesses be businesses, and not subjects of Executive Branch ridicule.
Please. Take a moment, look at these charts, and realize that this market crash may be a direct result of Obama himself, and his party's message of catastrophe, fear and great depression. We hope the economy will recover, and when it does, let us all remember to cut through the BS of those who will surely give Obama all the praise. Wall Street knows better, and conservatives do as well. Only those dumb enough to vote for Obama in the first place will believe his story of hype and circumstance when it's all over. These folks might also be dumb enough to vote for a referendum to extend Presidential term limits. Obama's going to need at least 12 years for his "great plan" to actually work. Maybe 16. I can hear Sean Penn arguing that point now, with one arm around Hugo Chavez, and the other around Barak.
(images ~ Google Finance)
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