Another Record!… Obama's Market Decline Worst For New Prez in 90 Years
Obama keeps racking up those records…
** The stock market had its worst January in 113 years.
** This was followed by the worst February for the stock market since 1933.
** Don’t forget the record unemployment rate.
** Obama’s budget more than doubles the national debt held by the public, and adds more to the debt than all previous presidents — from George Washington to George W. Bush — combined.
The Dow Jones Industrial Average has fallen faster under President Obama than under any new president in at least 90 years, according to a review conducted by Bloomberg.
Bloomberg reports that since Inauguration Day, the Dow has fallen 20 percent, leading at least one investor to dub this the “Obama bear market.” The Dow has also dropped 31 percent since Election Day.
Despite a string of government bailout offers and Obama’s advice earlier this week that Americans should be buying stock while shares are low, the Dow has continued to freefall.
Bloomberg reported that Obama is at risk of breaking a historical trend — in which the Dow soars an average of close to 10 percent in the first year after a Democrat wins the presidency.
But there’s hope!
Today the Obama Administration started taking economic advice from Twitter.