Is Obama already a negative force on the economy?
Dow down 486 the day after the man is elected!
Best Answer
2224 points
readytoretire answered one year ago …
I heard that from one of the talking heads on tv yesterday. Another commented that the market had gone down before the election on the assumption that he would win. As he played close to the vest with details of what he intends to do, I think some of this is just speculation. He is in the party that wants universal health care (which is difficult even without having a porous border), more labor unions, more taxes on companies, etc. These items will make it harder for companies to make a profit, so the market would tend to discount future earnings.
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4107 points
MNSL answered 2 years ago …
I think it is too early to judge performance of President Obama now.
We must not forget that Warrant Buffet and Soros are backing him. So there is a confidence among top investors.
Recently Former President Clinton said President Obama has a team of good advisors.
We have to wait and see. We can get fully understanding of the economy including world economy at the end of 2010.
Because of economic policy of the USA some rotating sectors will have above average growth in the next 18 months and next 05 years. In addition some market will benefit most.
2083 points
alanj answered one year ago …
It is perceived that he will be, because of his tax and spend policies he promoted during his campaine. Which most of Wall Street investors think will be bad for them. As a result the DOW was down.
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roi answered one year ago …
Another 440 points on the day after => down 10% in two days and no end ...
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