Obama Hexes The Stock Market
The stock market has fallen once again after the election of Barack Obama. He portrayed himself as the savior who was going to rescue the economy that he said was wrecked by Bush.
The fact of the matter is that stock values are based on future expectations. If the market had viewed the election of Barack Obama as a positive, the market would have went up. But the market did not go up; the two days after the election the market went down, losing almost 10% of its value.
Let’s look at the Obama Effect on the stock market. Below are daily closing values for the two most well-known stock market indexes, the Dow Jones Industrial Average (DJIA) and the S&P 500.
11/04/2008 (Election Day)
- DJIA: 9625.28
- S&P 500: 1005.75
11/05/2008
- DJIA: 9139.27
- S&P 500: 952.77
11/06/2008
- DJIA: 8695.79
- S&P 500: 904.88
Closing values as of 11/12/2008:
- DJIA: 8282.66
- S&P 500: 852.3
Since the day Barack Hussein Obama was elected president by millions of idiots, the economy has lost trillions of dollars of wealth. Almost $2.5 trillion in wealth evaporated after the election of Obama. The Dow Jones Industrial Average is down 14% and the S&P 500 is down 15.26% in the week following the presidential election. This is despite oil dropping from $70.53 on election day to about $55 on 11/12/2008. The per barrel price of crude oil dropped 22% and still the American stock market went down.
Maybe Barack Hussein Obama put some African voodoo curse on the market or something. Obama stinks. Literally. It’s been said that 100 million Americans own stock directly or indirectly via retirement investments. All those people have seen 15% of their wealth disappear in the week since Obama defeated John McCain.
I hope those people who voted for Obama and lost wealth are happy they are now poorer.
Feel free to verify the data for yourself: