Loading ...President Obama is the stock market’s worst nightmare. A few weeks before the November 2008 election, when it became evident that Obama might win, big money began to leave the stock market in search of safer homes — such as gold or silver. Or Switzerland. The Dow lost 1,342 points between the November 4th election and November 13.* The investors on Wall Street know what socialism can do to large companies, and they expressed their disapproval.
Obama’s grandiose plans to spend trillions of dollars on laundry list of liberal politicians’ projects has made the situation far worse. (See Pork products in the bailout bill and in the stimulus bill.)
If Mr. Obama was in fact an enemy saboteur, trying to do everything possible to wreck America’s economy, what would he be doing differently? Not much. This is even more disturbing because we know the Barack Obama is a man with a mysterious past, he used to be a “community organizer”, that is, an anti-capitalist troublemaker, he apparently hates America, and he is gradually weakening America’s defenses.
Obama never understood that America needed a good economy. To Obama, people didn’t need money, they needed programs, with bureaucrats monitoring and administering the goodies, rewarding the ‘good’ and punishing the ‘bad’ (such as the tea parties). it’s why he started so many of them. It’s why he hired so many bureaucrats and took over so much — from health care to government land. All he refused to do was cut taxes. But by leaving tax cuts on the table, it was an easy thing for Trump to snap up the opportunity, work with Congress on a tax cut plan, and just run with it. In a nation pent-up with uncut taxes, the result has been absolutely stellar, just as it was in the 1980s, an era when Obama was out focused on one-way nuclear disarmament from the U.S. alone. He didn’t think there was anything to a good economy.
Was Mr. Obama intentionally weakening the economy, or was he just incompetent and obstinate?
The economy began to recover as soon as Obama was gone.
President Nobama. Obama weaponized federal agencies including the IRS, DOJ, and EPA in such a manner as to worry anyone successful, prominent, and conservative enough to come under the federal radar of a vindictive Lois Lerner, Eric Holder, or a FISA court. Trump has sought to undo all that, point by point. The initial result so far is not rocket science, but rather a natural expression of what happens when millions of Americans believe they have greater freedom and safety to profit and innovate, and trust they will not be punished, materially or psychologically, for the ensuing successful results. The radical upsurge in business and consumer confidence is not revolutionary but almost natural. […] Calling a small pond or large puddle on a farm’s low spot an “inland waterway” subject to federal regulation is deranged; undoing that was not radical, but commonsensical.
Obama tops 2017 biggest losers. While his name has rarely been in the news in 2017, Obama’s policies were nearly always in the headlines — or at least behind them. The economy, for example. It’s hard not to notice the stock market’s performance since Trump’s win: A 250-point jump the next day, and up more than 6,000 points (more than 30 percent!) since Election Day. Not Inauguration Day — the day Trump policies would begin. No, the markets merely needed to know that the Obama-era policies were ending for the rally to start. And they were right, too. The economy has grown twice as fast under Trump than it ever did during any year of the Obama administration. Obama had eight years in power, pushed through major legislation like Obamacare and Dodd-Frank, doubled the national debt — and the economy grew at a pathetic 1.5 percent his last two years in office. Every day of over-the-top economic news in 2017 was a reminder of just how badly Obama under-performed as president.
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