I am not sure how much longer Americans will look at this economy and just blame Bush. The reality is, Obama promised to fix this problem. He has only been President for about 6 weeks, and there seems to be no end in sight on the collapse.
The stock market has fallen 20% in just the few weeks.
This is after the wonderful "stimulus" package was announced. If the stock market looks into the future by 6-12 months, that means that no one really believes the stimulus will stimulate.
Unemployment at 8.1%, which is higher than the experts expected.
The Dow has fallen 20.4% since Inauguration Day, the biggest post-inaugural
drop for any administration in at least 90 years, according to Bloomberg.
"It's the Obama bear market," Dan Veru, money manager at Palisade
Capital Management, told Bloomberg News. "We don't know what the rules are in so
many different areas the government is touching."
The question is, "Who will lead us out of this?"
So far, the Obama team seems to have no clue. We are trillions of dollars in debt, and Obama has promised to take us trillions of dollars further in debt.
Even with the promised increased spending, the stock market is still diving.
I think most Americans are like me, we know that it is not Obama's fault, but he told us he would fix the problem and we expect him to fix it.
No comments:
Post a Comment