Obama Bear Market

Another fine day, and how is Obama bringing this about:

• Lets see, we have energy policies that increase the cost of energy.
• A lunatic budget not based real economic numbers, that wants to raise taxes on all of us.
• A foreign policy that is pretends nuclear proliferation is a small concern.
• A stimulus bill with little pump priming but a great deal of payoff as well being indifferent to small business.
• Another spending bill larded with pork and ear marks.
• A housing bill that tells rewards the worthless and greedy.

Lets not forget the ensuing health care debacle which will tank us even further.

March 6 (Bloomberg) -- President Barack Obama now has the distinction of presiding over his own bear market.

The Dow Jones Industrial Average has fallen 20 percent since Inauguration Day, the fastest drop under a newly elected president in at least 90 years, according to data compiled by Bloomberg. The gauge has lost 53 percent from its October 2007 record of 14,164.53, slipping 4.1 percent to 6,594.44 yesterday.

More than $1.6 trillion has been erased from U.S. equities since Jan. 20 as mounting bank losses and rising unemployment convinced investors the recession is getting worse. The president is in danger of breaking a pattern in which the Dow rallied 9.8 percent on average in the 12 months after a Democrat captured the White House, according to data compiled by Bloomberg.

“People thought there would be a brief Obama rally, and that hasn’t happened,” said Uri Landesman, who oversees about $2.5 billion at ING Groep NV’s asset management unit in New York. “It speaks to the carnage that’s in the economy and the lack of confidence in the measures that have been announced.”

A bear market is defined as a decline of 20 percent or more

The Wealth Destroyer in Action:

“It’s the Obama bear market,” said Dan Veru, who helps oversee $2.8 billion at Palisade Capital Management in Fort Lee, New Jersey. “We don’t know what the rules are in so many different areas the government is touching. ”

The only rule that matters to team Obama is to make sure their actions increase their power.