General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDJIA Clarity As of 12:32 EDT
The Dow is up 207 points from where it was on Election Day 2016.
This is 1.29% over 41 months!!
This is 0.84% annualized!
As a reminder, the Dow rose under BHO at an average of 12% per year.
Are the "he's a businessman" folks tired of winning yet?
Shanti Mama
(1,288 posts)I'm all for critiquing the man in the white house, but Obama did not face a pandemic. Had he done so, he, too, would probably have seen a fall in the market. He would have managed all this way, way, WAY better, but he isn't god.
W_HAMILTON
(7,869 posts)Here, I'll be nice and even give you some help: https://www.cdc.gov/flu/pandemic-resources/2009-h1n1-pandemic.html
Shanti Mama
(1,288 posts)H1N1 was had different data.
Had the covid 19 played out under Obama the market would have gone down. That's my point.
W_HAMILTON
(7,869 posts)And since you didn't bother to read the article I provided you, here is one of the most important parts, since you seem to be downplaying that pandemic:
Now, if you want to claim that the market would inevitably go down at least some due to this pandemic, that is understandable. But there is no doubt that a competent Democratic administration (redundant, really) would have been in much better shape to combat this virus in our country and they wouldn't watch the DJIA drop 500-1000 points every time they go out and speak.
What we are watching most certainly was NOT inevitable. It is the result of having an ill-qualified, out-of-his-league, narcissist reality show host as president.
Recursion
(56,582 posts)and because he hadn't destroyed the CDC they did not become pandemics.
That's kind of the point.
ProfessorGAC
(65,079 posts)First, he started with the worst economic condition in 75 years. So, it's not like those policies merely stepped on gas of the economic engine.
Second, there was H1N1. But, it wasn't mishandled so it didn't create this kind of panic selling.
Third, the economic underpinnings of super cheap money and tax reductions during a period that did not require stimulation created a situation ripe for a substantial correction.
Given 1 & 2, I don't think CV19 is a very strong excuse.
Given #3, the pandemic was a fuse & accelerant.
The comparison is more apt than you suggest.
Response to ProfessorGAC (Original post)
HarlanPepper This message was self-deleted by its author.
doc03
(35,351 posts)lastlib
(23,251 posts)Hang on for it!
doc03
(35,351 posts)that is what I hear from my WV neighbors.
ProfessorGAC
(65,079 posts)At 3:29 EDT, it was 18,333.7. It closed on election day 2016 at 18,332.7
One point in 41 months.
Hoping very few people within 10 years of retirement didn't heavily invest in index funds exclusively
MoonlitKnight
(1,584 posts)The Saudi v. Russia price war is a bigger shock than covid-19. The market was not making these huge moves prior to the substantial drop in oil prices. Add mismanagement of covid-19 and you get the disaster we see today.
We had an 11 year bull market. Pumped up by cheap money, lower taxes for the rich and lower regulations. This bubble was going to pop anyway.