Stock Markets Seem to Love Obama’s Stimulus Package … NOT … Stock Market Reaches Pre-Bush 1997 Levels

Change you can believe in … Hope? REALLY?

If the markets keep tanking in a reaction to the Obama economic policies, the only change you can believe in will be that left in your pockets.

Don’t tell that to Wall Street and the stock markets. It appears that a “CHANGE” to socialism is not what the markets ordered. They continue to fall even after the Obama Stimulus bill was passed and he has put forth his mortgage plan. The stock markets are now at Pre-Bush levels. The markets are not only tied to profit and loss statements, they are tied to future economic prospects.

What does it tell you that the more Obama spends, the more the deficit is raised, the more it appears like a government take over, they more the markets tank. Wait until Obama tries to raise taxes in the midst of these economic woes. If the markets thought that Obama’s policies were a change in the right direction, we would be seeing a much different outlook.

The candidate who was elected as the MSM stated, the choice of hope over fear has provided nothing but fear when it has come to our economy. Even former President Clinton told Obama to put a sock in it when it came to scaring the American people.

Although the government has said it doesn’t want to nationalize banks, many investors are clearly still concerned that this could be a possibility as banks continue to suffer severe losses because of the recession. They’re also worried that banks’ losses will keep escalating as the recession sends more borrowers into default.

“The biggest thing I see here is the incredible pessimism,” Springer said. “The government is doing a lousy job of alleviating fears.”

Capitalism and the stock markets have never liked socialism and they never will.

As reported at The Gateway Pundit, Consumer Index Hits Record Lows. And Obama just continues to spend as Team Obama and the Democrats will give a billion dollar stimulus to Gaza.

Major stock market indexes fell to 1997 levels today.
Breitbart reported:

Investors’ sagging confidence has pulled the major stock market indexes to their lowest levels in nearly 12 years.

The Standard & Poor’s 500 index fell to April 1997 levels Monday, while the Dow Jones industrial average reached its levels of October 1997 as investors succumbed to their growing worries about a recession that has no end in sight.

The Rasmussen Report shows that the Consumer Index that measures consumer confidence has fallen to its lowest level  in the seven-year history of the Consumer Index.

The Rasmussen Investor Index fell nearly four points on Monday to 56.9, also a record low. For the Investor Index, the previous low had been established in mid-December.

The drop for both has been fairly significant. The Consumer Index has fallen eight points over the past month and 39 points over the past year. The Investor Index has fallen nine points over the past month and 45 points over the past year.