Obama’s Stock Market
Remember all the horrifying predictions about what would happen if Obama became president? Millions more will lose their jobs! Runaway inflation will destroy your savings, and gasoline would hit $7 a gallon – or more! And the stock market would surely crash! Obama, (and Obamacare) they said with certainty, is anti-business and the whole economy will tank.
You don’t remember? Well, I do, because those predictions were made daily and vociferously during the 2008 and then again for the 2012 re-election campaigns. Perhaps you don’t recall them because not one of them came true, causing the GOP soothsayers to now “forget” their own words.
This NY Times article focuses on just one aspect of Obama’s success, the U.S. stock market.
“The facts are inescapable: The Obama years have been among the best of times to be a stock investor, going all the way back to the dawn of the 20th century.
“Consider that had you been prescient enough to buy shares of a low-cost stock index fund on Mr. Obama’s first inauguration day, on Jan. 20, 2009, you would now have tripled your money. Stock market performance of this level has rarely been surpassed.”
Indeed. The facts are inescapable. You could have tripled your money!
I’m well aware that a president has limited impact on the economy in general, and the stock market in particular. Nonetheless, the scare tactics of the past have been proven wrong. Again. Keep that in mind for the coming election.
Thanks for caring about the truth.