Yesterday, I recieved an email from a wingnut freind of mine. It was in responce to an email I sent pointing out that this economic mess is Bush's fault.
Original wingnut email is as follows . . .
You keep blaming Bush. Things went down hill AFTER Obama spent his Trillions. Wake up. Anything after 18 months and the 3 Trillions Obama spent to fix the problem hasn't worked, I think Bush has nothing to do with Obama's failed policies. And Obama wants to spend another Trillion or more of our money to hope that works. Obama bailed out Banks to help people going to foreclosure, Banks won't help people that lost their jobs because of the Obama scare when he started his job.
Obama has put us in the HIGHEST debt ever than anybody in office. Most of the debt has not made an impact on our economy - unemployment, everything has gotten worse. After 18 months in office, that's when the blame stops. You need to wake up and watch Obama. He took a month before he went to the Gulf oil spill. He then went on to campaign for other Democrats. He and his wife went on vacation, not caring about the oil spill. And his wife and daughter spend a Million dollars of our money on a vacation over seas when Obama tells us to cut back because of the economy.
Justify this
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My reply was as follows. . .
The best guage for the economy is the Dow Jones Industrial average. The stock market usually presages employment by six months to a year, with the latter being more of the norm since manufacturing has left our shores.
The Dow when Bush took office was 10,587. When he left office it was 8,281.22!
That's the fact. It's not desputable because it is FACT.
Since Obama took office, the stock market has rallied to 10,558.35 (as of today), which represent an extraordinary gain of 27.5%!
Again, these are the indesputable FACTS.
We are now just 29 points from the point when Bush first took office. Quite a decade. . .a LOST DECADE in economic terms.
My point was not to discuss the merits or lack of merit of Obama's policies. I have had questions about them myself.
My issue was to point out that the problems started under Bush, which is bore out by the simple numbers.
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Conclusion.
I was glad he sent that email because I had no idea that we were just 29 points away from the mark on the Dow Jones Industrial average when Bush took office. I hope this gets a lot of coverage in these days before the upcoming election!
Update. The DJIA, TODAY, passed the magic mark of 10,558. . .the point it was when Bush first took office. And, it seems headed higher still today. Hurray for the Obama stock market rally!!!