If you thought your personal financial situation was bad in November, 2008….. you ain’t seen nuthin’ yet.Â Obamanomics is killing our future already!
Michelle Malkin:Â On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28.
In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a massive new mortgage entitlement, the Dow dropped to to 7,606.53.
Now, imagine if President Bush had presided over a 2,000-point stock market tumble in the same time period â€” during the first few months of his presidency.
Here’s what today alone looks like on the Dow Jones (via Drudge)
HopeandChange??Â Â YIKES!
I’m stocking up on essentials…
UPDATE: Oh yeah, and have you noticed that gas at the pump costs more now than when President Bush left office?
So prices at the pump will probably keep going up no matter what happens to the benchmark price of crude oil.
â€œWe’re going definitely over $2, and I bet we’ll hit $2.50 before spring,â€ said Tom Kloza, publisher and chief oil analyst at Oil Price Information Service. â€œThis is going to be an unusual year.â€
On the last day of 2008, gas went for $1.62 on average, according to the auto club AAA, the Oil Price Information Service and Wright Express, a company that tracks transportation data.
Help fight Obamanomics.Â Buy a bumper sticker!
UPDATE (from Dan):Â To those critics who claim that Obama can’t possibly “own” the decline in the stock market sincehis election, recall that these indices are a kind of futures market, with investors buying in (or selling as the case may be) based on how they believe the economy will do.Â Note how on Election Day 2004, the markets tooka tumble when it looked like John Kerry would win.Â And how they rebounded when it turned out he did not.
So, in the wake of the Democrat’s elections, investors were taking their cues from what he said and whom he appointed.