Never in the history of the United States nor the Stock Market has the stock market lost 4% of its value on the same day as a new President was inaugurated.
And that was just the Dow Jones. The S&P 500 lost more than 5%. S&P 500 Index Funds are where most American's have their investments.
Welcome to the Obama Economy.
Dow 7,949.09 -323.13 -4.01%
Nasdaq 1,440.86 -88.47 -5.78%
S&P 500 805.22 -44.90 -5.28%
That's historic. As "historic" as the Obama Presidency. At this rate, we're about 24 days of the Dow being ZERO.
Since the November Elections in which the most inexperienced, liberal Senator in the U.S. Senate was elected President, the markets have lost just over 23% of their value. No doubt due to the 18 months that Obama, the Democrats and the liberal mainstream media spent talking down the economy.
While the news media may try and spin this as remnants of the "Bush economy" the reality is this: Markets don't price the past, they price the future. The markets are telling us that our future is less bright under Obama, and this mess was created in large part by a Democrat Controlled Congress beginning in 2007. Until Democrats took over Congress and now the White House, unemployment was a low 4.5% and the Markets were at all time highs, above 14,000.
As this is now Obama's economy, we have officially entered the post election Obama led bear market. Today was the beginning fruits of Obama's stated policy since his election last November.
Here's your change.