As the Dow continues to drop day after day, I thought it might be telling to look at the market’s reaction to several historical events… (Note elections end after the market closes)
G. W. Bush Elected Nov 7, 2000
11/07/00 – 10,952
11/08/00 – 10,907
9-11-01
09/10/01 – 9,605
09/17/01 – 8,920
Democrats re-take Congress Nov 7, 2006
11/07/06 – 12,156
11/08/06 – 12,176
Government “Helps” Dow Find The Bottom with Bank Bailout:
Dow drops from 10,917 on Sept 15 to 8,852 Oct 17, 2008
Obama Elected Nov 4, 2008
11/04/08 – 9,625
11/05/08 – 9,139
Obama Inaugurated Jan 14, 2009
1/13/09 – 8,448
1/14/09 – 8,200
Obama Stimulus Signed into Law Feb 17, 2009
2/13/09 – 7,850
3/17/09 – 7,552
(Market closed for Presidents Day 2/16/09)
So how is the stimulus doing??? As of Today (Mar 9, 2009) the Dow closed at 6,547.
-13.3% since the “stimulus” was signed.
-20.1% since America’s first black President.
-31.9% since Hope was elected.
-46.2% since Democrats took control of the government (save a lame duck President).