2 Sep
Have Stocks Dropped 13% Since Obama Got Elected Because of How Much “Hope” Everyone Has?
Is this because of all of the high paying "green" jobs he’s going to create?
Is this because universal heatlhcare will save us soooooooo much money and prescriptions will be cheap too?
Is this because energy from windmills will be cheaper than from coal?
Is this because the poor and elderly will be so much better off when they pay carbon taxes?
Is this because hybrid cars cost less to run than gasoline cars?
Is this because "sharing the wealth" motivates everyone to work hard for each other?
Posted by susanmaried on 02.09.09 at 12:13 am
Precisely. This story tells it liek it is:
This headline doesn’t lead with the connection, but it does state the largest two-day drop sinc Oct 1987occurred in the two days following the election results:
http://finance.yahoo.com/news/Stocks-tumble-lose-10-percent-apf-13494806.html
"Major indexes have lost about 10 percent since Barack Obama was elected president — a vote preceded by a steep rally — and the losses represent the Dow’s worst two-day percentage decline since the October 1987 crash."
Posted by Stew S on 02.09.09 at 12:13 am
Stocks are dropping because we are in a recession and damn near to a depression. Things are getting bad out there. And there is no one man to blame for this.
George Bush did not ruin the economy of this country much less the entire world.
Posted by The Beaver for PRESIDENT on 02.09.09 at 12:13 am
It’s because the earnings statement is out and sales are down. Way down.
You can thank a whole bunch of things for that. Including Bush and the market meltdown.
Posted by bill_of_wildstallions on 02.09.09 at 12:13 am
Republicans are terrified and pulling their money out of the market.
Many who know about market manipulation know damn well this a great way to make a Man look bad.
Posted by DM on 02.09.09 at 12:13 am
Cause and effect. Obama wins, stocks go down.
Posted by dingding on 02.09.09 at 12:13 am
No, it’s because we’re in a depression (not just a recession) thanks to the last 8 years of corporate greed. Viva Bush.
Posted by christy8075 on 02.09.09 at 12:13 am
STOCKS ARE DROPPING BECAUSE NO ONE IS SPENDING MONEY!
Everyone is just trying to pay their bills and stay afloat. Companies cant make money if the consumers have no extra money to spend. It has NOTHING AT ALL to to with Obama.
WHY do people keep asking the same STUPID questions? Must be a kid who has absolutely no understanding of the economy.
Posted by Danielle F on 02.09.09 at 12:13 am
Maybe it’s because the ECONOMY HAS BEEN IN THE HOLE FOR MONTHS, with 1.2 million jobs gone since January 08.
Companies are falling left, right, and center. Numerous banks, Circuit City, DHL, Best Buy, GM, Ford, Chevy to name but a few. They didn’t fall overnight.
Many of you give Obama far too much credit for the recent continuation of the year’s disaster.
Posted by Dog Father on 02.09.09 at 12:13 am
Take a look at how much stocks have fallen since Obama announced he would run for president. The closer he gets to office the worse it gets. Oh but his vast experience will right the ship once he’s in office.. yeah right.
Posted by MeHoo on 02.09.09 at 12:13 am
Sure hasn’t dropped as much as since Bush’s election.
Posted by Hermione Granger on 02.09.09 at 12:13 am
Obama will make you capital investment hostage to unions. If by some miracle you manage to make a profit, the profit will be confiscated.
Why bother to invest if you can simply shred your money as well.
Sell, cut your losses, buy diamonds.
(Buy the way I gave this advice right here on Y!A at least 100 times since January)
Posted by bloodbath on 02.09.09 at 12:13 am
No, because GWB is still president
Obama cannot take action until after 1/20/2009.
Come back then, sir
Posted by Cindy the Borg Queen on 02.09.09 at 12:13 am
Are you aware that the stock market is only a reflection of investments. Not how the average person is doing. The stock market to go through the roof and the average person could be losing their home. So, basically, who cares how the stock market is doing.
Posted by rajb1037 on 02.09.09 at 12:13 am
Stocks dropped because the job loss report came out the day after the election, showing unbearable losses for the second straight month. In addition, this is the time of year when companies reveal their earnings, performance, outlook, etc… which have all been bad.
A report showing we’ve lost over 1 million jobs this year was the obvious reason for the market drop. The market had been rising steadily as an Obama victory was becoming all but certain.