Or, it’s all Obama’s fault.
The revisionists are already busy.
“WIRE: ‘Obama Bear Market’ Punishes Investors as Dow Tumbles 20%…” blares Drudge.
“Obama’s Radicalism Is Killing the Dow“, says a headline in the Wall Street Journal.
“This Is Obama’s Market, Good and Bad”, writes John Tamny of Real Clear Markets. His article finishes with the statement that, “Whatever direction he takes, it should be clear that today’s stock market is the Obama stock market, so it’s up to him to decide its basic direction.” This article was published on November 25, 2008.
These claims all have one thing in common. They hope to shift the blame for all bad economic news onto Obama so they can claim the market shows his policies are wrong. In order to achieve their goal, they cherry pick the data points and twist recent history to fit their argument.