But, The Economy Is Great Because Obama Fixed The Stock Markets!!!!!

On the rare occasion some idiotic Obama lover engages with me about the economy, without exception, they point to the stock market as proof that Obama fixed our economy.  From that point, with difficulty, one has to judge how much the Obama supporter actually knows about the stock market.  (Usually they know very little.)

Typically, I start by telling them the stock markets always go up after bottoming out, as witnessed by our previous recession (minor)recovery.  But, is it true?  Is our stock market really some much better than what it was in the past?

Well, let’s go to our biggest stock market, the NYSE.  In fact, let’s go directly to the NYSE site!

image

As we can see, the week of Oct 26, 2007 is slightly hirer than it is today.  Indeed, the NYSE has never got much more higher than it was a little more than 8 years ago.

Now, adjust for inflation …… now adjust for the Fed’s QE …….. now adjust for the ZIRP (the Fed’s zero interest rate).  Yeh, Zero sure fixed the stock market.  It holds less value today than it did nearly a decade ago, and that’s after being artificially pumped up by the Federal reserve (supposedly independent of Federal government). 

Right now, the only question I have is if Zero can get out of office before it crashes again.  It’s due.  

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7 Responses to But, The Economy Is Great Because Obama Fixed The Stock Markets!!!!!

  1. TedG says:

    Obama lovers and socialist are all alike – Zombies one and all always looking for what other people’s money can buy them!.

  2. DirkH says:

    Looks different for the DJI.
    In other words: Blue chips profited handsomely from Fed’s ZIRP/QE (used it for stock buybacks). Small chips fell by the wayside.

  3. gator69 says:

    The Great Depression lasted from 1929-1939…

    Must have been good times!

    • cdquarles says:

      It wasn’t. My parents were born just before the crash (mom) and just after (dad).

      It’d be funny if it wasn’t so sad that history has repeated itself, in part because truth was hidden by the Progressives. The same policies, qualitatively, have been tried both times and both have had the same results, qualitatively.

      • gator69 says:

        Both my parents were born during the depression, and dad was born to a single mother, as his dad died a few months before his birth. Dad used to recall dinners that consisted of a handful of crackers and half a glass of milk. But then they all must have been liars, because… well just look at the stock market!

        • cdquarles says:

          Heh.

          My parents were not so badly off, even with Jim Crow. Dad’s parents were professionals and likely did well enough bartering services (Dad died 54 years ago, next month, so stories from his side didn’t get passed on, other than photos). Mom’s parents got out of the banks early enough and caught/killed/grew enough food to sell to/share with others and had trade skills that were valuable enough that their children had enough to eat.

          A side note: that experience made that generation prize ‘obesity’, for skinny folk were malnourished and sickly, more often than not.

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