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The Obama Effect: S&P 500 Has Lost $806 Billion Since Election Day
They’re just getting warmed up. Expect losses in the trillions before long.
The post-election rout in U.S. stocks has driven the Standard & Poor’s 500 Index down so far that it would have to advance 26 percent to reach the valuation of bull markets since John F. Kennedy was in the White House.
Investors have seen $806 billion erased from the value of American equities since President Barack Obama was re-elected Nov. 6 in the biggest decline since May. The combination of falling stocks and rising profits as the economy recovers has left the S&P 500’s price-earnings ratio below the ending level of eight of the nine bull markets since 1962 and beneath the average of any since Ronald Reagan was in power.
h/t Flaming Hetero
old_oaks
November 20th, 2012
I’m going to just start calling him, Shop-Vac.
Cause he really sucks!
thirdtwin
November 20th, 2012
I. B. B.
Dr. Tar
November 20th, 2012
How I think a typical Liberard would respond to this story.
“Take that rich people. Soon we’ll destroy all your wealth then we’ll tax…ah, ah, tax what you have left. Yeah that’s it, we’ll tax what you have left after we destroy the value of your investments.
That’ll keep you from funding the opposition. What, you supported Democrats? What are you from Hollywood or something? Well as a loyal Democrat you know in your heart that its unfair for you to have so much and the government to be so needy. You should be happy to sacrifice for the greater good. So hand it over buddy.”
Wyatt, Insensitive Progressive Jerk
November 20th, 2012
According to some business people I know, there are a couple of primary practical reasons for continued pessimism in the private sector under the Obama administration. First among these reasons seems to be a complete lack of confidence in Obama’s and leading Democrats’ ability to understand basic economics. Seemingly insane comments like “you didn’t build that” or “food stamps help stimulate the economy” are probably made by Democrats to assuage their basic economically illiterate constituency, but do nothing to bolster any confidence in the private sector.
Second, and perhaps more important, is the apparent lack of consistent rules. For example, with ObamaCare, not many people understand its requirements or ultimate ramifications, the Obama administration seems to give waivers to its friends upon request, and there are few indications of how it will be implemented – not to mention extreme uncertainty about ObamaCare’s effect on the economy. Tell business people what the rules are, and eventually they will structure their businesses to operate within the rules. However, the uncertainty means that business people will hunker down until they have some sort of idea of what is going on.
Democrats claim to be advancing society into a new era of fairness. What they are really doing is embracing programs and policies which have been demonstrated time and time again throughout history to have failed miserably. Combined with the current proclivity of Europe to do the same thing, and we have the recipe for economic disaster.
Freeshiticus
November 20th, 2012
Today the unemployment rate went up in my state along with my insurance rates for January.
You think the last four sucked?
alphamaser
November 20th, 2012
Yes,and FEMA sucks more than ever on our N.E. shores, but does the libtard media say a damn thing? Crickets…
cfm990
November 20th, 2012
I actually know people who say, ” How can we be in debt, when we can print our own money?”
Kevin R.
November 20th, 2012
“It’s beginning to look a lot like 1937.” ~ Amity Shlaes
Thanks a lot democrats.
FreeMan & Sarah Intend to Defend
November 20th, 2012
@ old_oaks – I’ve never had a shop vac that sucked like this.
Just sit back and enjoy the recovery. I am and it is spectacular.
Ten Megaton
November 20th, 2012
Yes Wyatt, Democrats are dumb phucks.
Fuck you very much, Obama.
Rick
November 20th, 2012
I got nervous mid-late September when Benghazi stories started falling apart, along with other indicators. So I bailed out. (Being unemployed for a year makes you averse to rolling the dice with your last remaining cash asset.)
So yeah, FreeMan, I’m sitting back enjoying the recovery. Also pointing and laughing.
Ten Megaton
November 20th, 2012
I have had an assfull of this “fairness” bullshit. What is fair? I worked for what I have and it is mine. Not a penny of what is mine belongs to some stupid lazy POS in Chicago or wherever. If I want that stupid lazy POS to have any of it I will give it to them myself. Don’t need Oblome helping out.
Bad Brad
November 20th, 2012
old_oaks:
He sucks and he blows. He’s a bellows.
Wyatt
You can feel the biz climate tighten day by day. It’s not good.
old_oaks
November 20th, 2012
Maybe Roto-Rooter is more fitting?
Bloodless Coup
November 21st, 2012
Must Watch Video
DHS Ready For Massive Civil Unrest, Internment Of “Dissidents”
http://ppsimmons.blogspot.com/2012/11/dhs-ready-for-massive-civil-unrest.html