"Obama Factor" Weighs Heavy in Market Crash

The stock market continued its horrible post-election crash Thursday:

The Dow is down nearly 20% since Barack Obama won the presidential election.
This is the largest post election stock market sell off in history.

Doug Ross tracked the Obama factor in the current market slide in this very interesting blog post–

“Barack Obama and the Wisdom of Crowds”

If we zoom into the September-to-November timeframe, we’ll see something very enlightening. By late September it was increasingly clear to Intrade.com bettors that Obama was going to win the election. From 9/28 to 9/29 Obama’s Intrade price went from 57 to 61, which represented a huge jump… Around September 29th the market began its collapse.

Call it a crisis of confidence. Call it a Fannie-inspired meltdown. Call it what you will, but the markets appear to have reacted to Obama’s promises of economic “fairness”, “spreading the wealth” and raising taxes on the job creators of society.

Read the whole thing here.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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Thanks for sharing!