Where was the Dow Jones when Obama took office?

[Guest040616]

Where was the Dow Jones when Obama took office?
By Investopedia

When President Obama took office on Jan. 20, 2009, the Dow Jones Industrial Average slumped to 7,949.09, the lowest inaugural performance for the Dow since its creation. The S&P 500 and the Nasdaq took similar hits, dropping 5.3 and 5.8 percent, respectively, and fourth quarter earnings reports were on track to drop more than 20 percent over the previous year's figures. Bank stocks in particular were hit quite hard, with the sector in general declining by 30 percent. Bank of America Corp. dropped 29 percent, and Citigroup Inc. sank a comparatively gentle 20 percent.

While the economic backslide may have seemed to indicate that the America public was less than confident in their newly elected leader, the dip was instead widely credited to continued lack of confidence in the failing economy left behind by the previous administration. Under former President Bush, the stock market took a 2.3 percent fall on an annualized basis, reflecting the 1 percent increase achieved during his first four years and the 5.5 percent decline suffered during his second term. If nothing else, the historic lows of the Bush administration and the shaky beginnings of the Obama years definitely indicate an economy in flux.

Good news, however, was not too long in coming. Despite its inauspicious economic beginnings, the Obama administration has overseen an impressive upswing in the stock market. As of Sept. 12, 2014 the Dow Jones has more than recovered from its January 2009 slump, resting nicely at 16,987.51 for the day, more than double what it was on inauguration day. More importantly, it has maintained a healthy average between 14,719 and 17,162 for the past 52 weeks. Though there have been intermittent downturns, the Dow's general upward trend speaks well for the Obama administration's efforts at economic recovery.

http://www.investopedia.com/ask/answ...artner=YahooSA

[JD Barleycorn]

Ever hear of quantitative easing (QE)? Anything that happened in the stock market for the last four years means nothing because of QE. The federal government (Obama) transferred $85 billion a month for almost four years from the taxpayers to the stock market. The last few months it has come down to $65 billion a month. The stock market is a mirage, a giant bubble that will pop. You are a fool for trying to suggest that this means economic health. Just do the math, 85000000000 times 42 months and that is your miracle. Bought and paid for by people who got the profits of a piss ant from it.

Believe me when I tell you that you are truly a moron.

[UnderConstruction]

Originally Posted by JD Barleycorn

Ever hear of quantitative easing (QE)? Anything that happened in the stock market for the last four years means nothing because of QE. The federal government (Obama) transferred $85 billion a month for almost four years from the taxpayers to the stock market. The last few months it has come down to $65 billion a month. The stock market is a mirage, a giant bubble that will pop. You are a fool for trying to suggest that this means economic health. Just do the math, 85000000000 times 42 months and that is your miracle. Bought and paid for by people who got the profits of a piss ant from it.

Believe me when I tell you that you are truly a moron.

Believe me when I tell you you're a dumbass. Myopic to say the least. ANYTHING that happened in the last 4 years means nothing? There's absolutely no way you can qualify that statement. You say it's a mirage because you don't understand it.

[CuteOldGuy]

They are partying like it's 1929.

[Yssup Rider]

Hunker down, bunker clown!

[TheDaliLama]

Anyone can print a bunch of money.

The reason the economy is doing anything at all is because of....

DRILL BABY DRILL, which by the way BO had NOTHING to do with.

[MrGiz]

Originally Posted by bigtex

Despite its inauspicious economic beginnings, the Obama administration has overseen an impressive upswing in the stock market... the Dow's general upward trend speaks well for the Obama administration's efforts at economic recovery...

Originally Posted by UnderConstruction

... You say it's a mirage because you don't understand it.

It's pretty fucking obvious, who doesn't understand it! Obama hasn't "overseen" a fuckin' thing that we all haven't. Unless, BiTex thinks Obama exercises control over the Fed, Yeah Right! That's another discussion, and a silly thought.

UC is one of those MF'rs who has to feel he's the smartest man in the room, wherever he is. It doesn't take much to understand the performance of the FBSM... Fed Backed Stock Market, over the last few years. I've profited quite well, no thanks to the Uber Idiot occupying Crib O at the moment.

[LexusLover]

Speaking of "WallStreet"...

"http://www.wsj.com/articles/u-s-incomes-edge-higher-as-sluggish-recovery-persists-1410878730

"The government's annual look at U.S. incomes helps explain why, despite a stock market that has returned to record highs, the economic recovery has been so unsatisfying for the broad swath of Americans who rely primarily on wages for income.

"Since the recession ended in 2009, median incomes are down 4%, back to levels last seen in 1996. By contrast, incomes grew 13% during the expansion that ran from 1991 through 2000. Since 2009, incomes have risen only for the top 5% of earners."

Apparently, according to BigIdiot, HIS MAN IN THE WHITE HOUSE has been helping the "well-to-do"! So much for "income distribution" and improving poverty ... weren't those the goals of "Obamacare"?

Who is it that benefits from the "stock market"?

[Guest040616]

Doncha' just love it when the Idiot Klan, errr Clan, circles their wagons and start firing blanks into thin air!

They are soooooo predictable!

[MrGiz]

Originally Posted by bigtex

Doncha' just love it when the Idiot Klan, errr Clan, circles their wagons and start firing blanks into thin air!

They are soooooo predictable!

The Federal Reserve; along with the Federal Government of which you are so enamored have proven to be incredibly inept. They haven't been able to spur inflation (so far), no matter how many trillions of Monopoly Dollars they print! They won't be able to get away with the smoke and mirrors game forever. For now, all we can do is collect as many monopoly dollars as we can, while trying to acquire any hard, real assets we can.* Yes, the stock market may not be a "mirage", but it has no "real" foundation, whatsoever!! Taking any temporary advantage we can from the Federal Klusterfuck, is all we can do for now.

I'm not an ultimate "Doom and Gloomer", but there is a shit storm brewing that will make 2008 look like a picnic!

[DSK]

Originally Posted by UnderConstruction

Believe me when I tell you you're a dumbass. Myopic to say the least. ANYTHING that happened in the last 4 years means nothing? There's absolutely no way you can qualify that statement. You say it's a mirage because you don't understand it.

He is right about QE - anyone can succeed at President when they get to print more usable money than anyone in history.

[Yssup Rider]

How about printing money to send to BooBoo Netanyahu, "DSK?"

[UnderConstruction]

Originally Posted by NTJME

It's pretty fucking obvious, who doesn't understand it! Obama hasn't "overseen" a fuckin' thing that we all haven't. Unless, BiTex thinks Obama exercises control over the Fed, Yeah Right! That's another discussion, and a silly thought.

UC is one of those MF'rs who has to feel he's the smartest man in the room, wherever he is. It doesn't take much to understand the performance of the FBSM... Fed Backed Stock Market, over the last few years. I've profited quite well, no thanks to the Uber Idiot occupying Crib O at the moment.

It's often true. That's not my fault. Of course it's been propped up, but for JDJiZZY to say that EVERYTHING is due to that is hyperbole, like most of what he says.

[MrGiz]

If you hang in here for any length of time, your IQ drops.

Originally Posted by UnderConstruction

[DSK]

Originally Posted by Yssup Rider

How about printing money to send to BooBoo Netanyahu, "DSK?"

We do too much of that already!!