The Obama Bull Market

As Ashby noted yesterday, the Dow topped 14,000 for the first time since 2007 yesterday, and it’s a pretty big deal. Remember on Thursday when CNBC’s Rick Santelli was screaming about how we’ve become Europe? Yeah okay.

Imagine for a moment if the Dow was half of today’s closing. If we were looking at Dow 7,000, the Republicans — especially Fox News Channel and the constantly apoplectic spazzy white guys on CNBC — would be screeching about The Obama Bear Market. IEEEE! But no one’s ballyhooing The Obama Bull Market. Least of all Fox News. Interesting how that works.

By the way, how do I know that Fox News would call it “The Obama Bear Market?” Because they already have. Four years ago.

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  • Victor_the_Crab

    I wanna punch Rick Santelli in the mouth so hard that his jaw would rip right off his face, he’s that loathsome.

  • mrbrink

    And all this with no Wall Street bubble.

    What we’re seeing is a real economy emerging.

  • KABoink_after_wingnut_hacker

    Fox used the DJIA as a daily cudgel on Obama starting before he was even sworn in. They continued for months until stock market improvements didn’t suit their narative, then the Dow scorecard mysteriously disappeared.

    It’s kinda like how they never mention Osama Bin Laden or US auto makers anymore and are very careful when and how they mention job numbers.

    For a little flashback; here’s Faux Snooze THREE days after Obama’s first inauguration spreading fear from the get go.

    http://www.youtube.com/watch?v=4469JSYTHKA

    • muselet

      After the inauguration? FNC started screeching about Obama destroying the economy the first time the DJIA twitched downward after the 2008 election.

      Why, it’s almost as if these people aren’t actually concerned about the economy at all. Imagine that.

      –alopecia

    • i_a_c

      I remember this well. Obama was responsible for the market downturn from the moment he was elected, according to them.

  • Brutlyhonest

    Every time a wingnut screams at you about how the Socialist Obama is killing the economy, remind them of how much the Dow has risen. First they’ll call you a liar, then if they concede the accuracy of a FACT, they’ll say it doesn’t matter. For bonus head & neck vein bulging, throw in the bonus fact of record corporate profits! I almost guarantee you’ll be called and asshole. You might also be threatened (I’m kind of scary to many people so I don’t get a lot of personal threats from them :P)

  • mattpd03

    I had some wingnut friend on facebook, right after the recent election, chart the progress of the dow going down. each day another “wake up people!” type post. If you’ll recall the dow did go down in the first week after the election. Rational people understood that it was those segments of the dow that the street felt would do better under a Romney admin… that’s about it. it does happen in every election. But anyway, we had daily warnings about economic doom and gloom. Strange, no recent posts about the market….
    Well, gas prices are going up… I guess that’s about to become Obama’s fault again. He was obviously keeping them low for the election…. right?

    • mrbrink

      Yeah, gas prices are going up in the near term, but EIA is predicting stability over the next two years.

      From the EIA on gas prices:

      “EIA expects that falling crude prices will help national average regular gasoline retail prices fall from an average $3.63 per gallon in 2012 to annual averages of $3.44 per gallon and $3.34 per gallon in 2013 and 2014, respectively.”

      And it gets overlooked, but the Wall Street reform bill signed by President Obama addressed unnatural speculation in the oil futures market.