Obama's Ugly Vector

Tech Startups 3.0: Obama, market's least favorite president so far

The curve is unkind in this graph of the market's response to the new Presidents policies. This tells us more than all the talking heads on all the networks combined. Wall Street wants profits and a hope of future profits. They don't see it happening right now.

Admittedly not all of the ugliness is directly in response to Obama, but if he had taken serious, informed action the traders would have jumped all over it. When he selected the people he did for his Administrations most important economic positions Wall Street realized this guy just didn't get it, and accelerated the pitiful slide. Each time Obama or another administration representative took to the mike to assuage Americas fears, they just compounded the problem by exposing their lack of clarity and purpose.

I hope for the best, but Obama's moves so far are likely to be as damaging as Hoovers in '30-'32, perhaps worse. The similarity is stunning. One mitigating factor is the sophistication of the average American today. The wool can't be pulled over everyone's eyes for long, regardless of Obama's favored status in most of America. It won't take years for Americans to respond and demand effective leadership. Even with the MSM in his pocket, the tide is already beginning to turn.