Wednesday, January 21, 2009

Barack Obama vs Stock Market

On the day of the inauguration the United States was in disunity as the nation was split into seperate factions, with part of the nation backing our new president and the other part criticizing him before he even entered office. As a result of this negative idea about President Barack Obama's economic policy we saw a decline in the DJI and Nasdaq due to consumer sentiment. I personally do not believe that this is fair at all as we cannot have a negative sentiment before he has enacted anything! As long as people view politics with a bias we will always approach anything that has ties with our ideals with a pre-made idea... this leads to unfounded fears and hopes. Hopefully our economy will rectify itself, its only a part of the business cycle and our new president has nothing to do with it yet.
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3 comments:

  1. Sebastian Zar5:18 PM

    The stock market also dropped when Obama was first elected. It has nothing to do with the "now", the stock market is always fluctuating and that is because of uncertainty. The economists love to see stability and they like to know what is going to happen. When they don't, that's when the stocks drop and nothing goes well.

    The market also dropped mainly yesterday because of a report that a bank's 4th quarter report was over 70% below estimates.

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  2. Veronica6:30 PM

    Of course, there will be people who love him and who hate him. I find it hard to believe, as well, that the Dow and Nasdaq fell simply because of Obama. We're in a recession and that is what's to be expected. The economy may not be his fault but hopefully he can help bring us back on our feet.

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  3. M Taylor1:36 PM

    You need to search on the web for information regarding the causes of the DOW plunge on the inauguration to provide evidence of what may have caused it. Also, provide links to evidence of the dischord due to the inauguration.

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