The Dow hit 14,000 on Bush’s watch. What’s the big deal about 10,000 now?

gws21: The Dow hit 14,000 on Bush’s watch. What’s the big deal about 10,000 now?
The Dow reached its all time high of 14,000 while Bush was president. Of course, that was before the Republicans lost their majority in Congress.

Now the market finally crawls its way back to 10,000, after reaching the 52-week low on Obama’s watch, and the media act like it’s some kind of a triumph.

I don’t remember the liberals getting so excited about the 14,000 mark.

So are these the rules on the stock market:

If it goes up during a Republican admin, the stock market “doesn’t mean anything.”

If it goes down during a Democat admin, it “doesn’t mean anything.”

If it goes down during a Republican admin, it’s “proof that the Republican pollicies are a failure.”

If it goes up during a Democrat admin, it’s “proof that the Democrat policies are working, so we should switch over to socialism before the capitalists enslave us.”

Ya I know, the media didn’t say that last part. But you just know that’s what they’re thinking.

Does this explain the media’s apparent split personality on the stock market?
Drug dealer, I stand corrected – you are correct, the Dow dropped from 14,000 in the biggest one-year drop in history AFTER the Republicans lost their majority in Congress. I guess that shows what happens when the Democrats gain a few seats.
Wow, a lot of stock market experts here, who don’t know the jargon.

The 52 week low means the lowest it’s been in the past 52 weeks (one year). That happened on Obama’s watch. Yes, I know he hasn’t been in office 52 weeks yet. It means it was even lower than in the last months of the Bush presidency.
Drug Dealer, I did not say all time low (that would be silly), I said the 52 week low of 6440, which occurred in March 2009, ON OBAMA’S WATCH.

It opened at 8200 on the morning of Jan 20, 2009. So it did not rise steadily after Obama took office, as someone suggested.
The lowest value in the past TEN YEARS is 6440 in March 2009, on Obama’s watch.

That’s lower than it ever was on Bush’s watch.

Answers and Views:

Answer by Barack Behind Bars
Its going up because they know Republicans are going to take the majority of offices in the 2010 election.

Answer by eazyeee888
They hold themsleves to low standards……let them enjoy their time, its already coming to an end in 2010 when a record number of Reps will be showing up to the polls.

Answer by Sadcat
The DOW did indeed hit 14,000 under George W. Bush.

Then it plummeted.

The Obama was inaugurated.

Then the market turned a corner and started heading up.

Now it’s back to 10,000.

See how it works?

Answer by Adam
Everyone expects the economy to do well under a Republican so it’s no surprise, but when it goes up even though a Democrat is in power people are shocked.

Answer by Crikey a Wild Ski Bum
Obama hasn’t even been president for 52 weeks…

Answer by is Rush a Donkey ?
The Dow ALSO hit 7,550 on Bush watch

BECAUSE of Bush

Then Obama took control from george, and now things are BEGINNING to return to normal.

Answer by truth seeker
What was the DOW when Bush left office????

How many Presidents have there been that have left office with the DOW lower than they went in?????

Answer by Ted Kennedy’s Car
And if you price the DOW in 2004 dollars, it would be at about 5,000

but the left wingers will keep doing thier delusional high fives and victory laps

to be expected, since most liberals have a brilliant grasp of economics,

left wingers couldn’t run a coin operated toilet concession at an EX LAX eating convention.

Answer by Zap
And just one year later, still UNDER Bush, it crashed all the way down to 7999…the BIGGEST one-year drop in HISTORY…I see you’re very proud of that fact.

Answer by Rush Limbaughs Drug Dealer
Um lets see twit – All time high for DJIA was 14,164 dollars on October 3, 2007 AFTER the democrats took congress – not prior. So you like most things you state are wrong about when exactly it happened.

Just a few weeks after Obama took office DJIA hit its pre-1997 low(not an all time low like you stated) but the Dow’s largest percentage decline was during 2008 and only 200 points less than it was October 2002.

Anyways, the DJIA is an indicator that things are starting to stabilize – not that there doing well, but the recession is definately ending. Its good news, just as it was good news when it happened in 2003 when bush was president

Answer by Will
Can you say rebound?

Answer by Me M
You said “Now the market finally crawls its way back to 10,000, after reaching the 52-week low on Obama’s watch, and the media act like it’s some kind of a triumph.”

Correct me if I am wrong, but President Obama has been in office for about 35 – 36 weeks. So how can your statement be true?

Like one of the other posters stated, get your facts straight before you try to comment.

Bush left our ecomony bankrupt and now it is up to President Obama to fix Bush’s mess.