Didn't do anything radical? Privatizing banks and auto manufacturers was not radical? Passing a stimulus package that added almost a trillion to the deficit while used mostly to shore up government jobs when we were already awash in dangerous red ink wasn't radical? Signing an appropriations bill loaded with pork that further added to the deficit when Candidate Obama had adamently promised he wouldn't do that wasn't radical? Obamacare most especially when hundreds of waivers exempting his friends and supporters from its provisions have now been issued wasn't radical? Instead of paying down the deficit, quietly turning repaid TARP monies into a petty cash fund to be allocated again and again wasn't radical?
And you apparently haven't been watching the stock market for the past couple of weeks. Not much recovery there.
The crappy economy he inherited was not his fault, and I don't blame Obama for everything and I give him props when he gets it right. But we are now into the third year of his Presidency and he has badly mismanaged the economy and, based on his own words, he apparently intends to keep right on mismanaging it. And a lot of it has been pretty radical and alarming to a lot of us.
The collapse of the economy as Obama took office drove the NYSE from 14,000 to just over 6,000. It has gained back 6,500 pts. I call that an amazing recovery in that a lot of the 14,000 pts was bubble. Denying this fact is willful ignorance. The value of the NYSE has nearly doubled in two years in the rebound of the worst financial shock this country has ever seen....you don't think that is astounding? I do. The truth is..that the recovery of the NYSE has been historic...unprecedented..
Sorry I can't joint your pack of nitwit hyenas...
Dow Jones Industrial Average (DJIA) History
Astounding? Well, all the nitwit hyenas (aka credible economists) I've been reading are pretty well agreed on a couple of things I think you might not be considering.
Here's one point of view that is pretty well agreed among all:
Unprecedented monetary and fiscal policies have created an economic recovery that is artificial to an indeterminate degree. Similarly, the massive rally in the stock market of the past two years has been built to an uncomfortably large extent on the shaky ground of extraordinary government intervention in the form of $1.5 trillion annual fiscal deficits and over $2 trillion of Federal Reserve asset purchase programs. Aside from job creation, which has been consistently disappointing, U.S. economic data have generally surprised on the upside over the past several months, but how the economy performs once stimulus begins to be withdrawn after the second quarter is an open question.
Geopolitical Upheaval, End of QE2 Increase Stock Market Correction Risk - Seeking Alpha
The daily numbers don't ever tell the whole story. With interest rates at effectively zero, and real estate losing ground every month, the market is the only place investors have to go. Much of the boom is driven by high oil prices and as those have slowly been coming down, the market has been following. We'll know soon enough how much of the 'rally' has been on oil speculators.
In short, any Obama policies that have affected the market have been largely artificial and short term.
Good work noob.
