Tuesday, September 15, 2009

Musing on the Market

I'm certainly no expert on this subject, but I just happened to notice today that the market is up another 56 points, to 9683. This represents a 48% gain in the Dow in six months, since its low of 6547 on March 9th, a month and a half into Obama's term.

That seems like a pretty spectacular gain to me. At this rate, the Dow could essentially double in value in a year. Does anybody know if there have been other such relatively sustained periods of growth in the Dow of this magnitude since, say, 1940?

This got me thinking that with a little more good news, we could be closing in on 10,000 in a month or two. You'd think that getting the Dow back into five figures for the first time since (I think) last October 3, would be a tremendous psychological event.

I'm so looking forward to the heaps of praise that the ever- serious business minded Republicans will heap on President Obama and the Dems in Congress, for rescuing the country from the economic catastrophe brought on by George W. (Don't you DARE call him a conservative!) Bush.


Kevin Williamson said...

I just sent a letter today to a Conservative friend who back in March was saying that it was because of Obama that the stock market had lost so much value.

As you say, I wonder if now that the Dow is almost back to 10,000 and Bernanke says the recession is over as opposed to being on the brink of a depression, he or anyone on the right will give BO credit.

Green Eagle said...

No, of course not. Their story now is that Bush and Co. didn't really screw the economy up at all, and Obama isn't really the legitimate president because he got people to vote for him by spreading terror about a phony economic crisis.

Don't forget, these are people who are willing to claim that they believe the earth is 6,000 years old.