Barack Obama, Jim Cramer, the Stock Market and Glengarry Glen Ross

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Gas prices this summer had little to do with actual performance. The markets thrive on speculation - hope, fear.

Violet of NJ 2:21PM March 12, 2009

I meant to say "33% of the amount of the decline as of yesterdays close", not "33% of its value". You get my point.
If this is posted multiple times, it was unintentional.

Bubba of 9:08AM March 11, 2009

I meant to say "33% of the amount it has declined as of yesterdays close", not "33% of its value". You get my point.

Bubba of 9:06AM March 11, 2009

Sorry, I meant to say "or 33% of the value it has declined as of yesterday's close", not "33% of its value". You get my point.

of 9:04AM March 11, 2009

The Dow was at 7949 on the day Obama took office, so 350 points is 25% of the amount the Dow had dropped since he took office, as of yesterday morning (or 33% of its value as of yesterday's close. I'd say that's substantial. The rest of the plunge you're talking about happened while Bush was still in office.

Bubba of 9:02AM March 11, 2009

I would hardly think with the severe plunge of the market since Obama's inceptions that a 350 point rise HARDLY makes a dent in the Dow's plunge...btw, the other viewpoint that you have obviously missed is that, for once, the government shut its mouth up (especially Obama) about the banking crisis...thank God. If he can shutup about it for a little while longer, we could see some more gains. BTW, with the gain, the Dow is still below 7000...so don't start thinking that everything is hunky dory either.

G of LA 2:18AM March 11, 2009

So does today's 350 point rise in the Dow mean that investors now approve of the administration's policies? Or do day-to-day flucuations not matter? Which is it?

Bubba of VA 11:48PM March 10, 2009

Excellent article, James. Even David Mamet (G. G. Ross playwright) saw the error of his ways and recanted (...in the Village Voice, no less)... but alas, will other brain-dead liberals.

Buck Cronkit of CA 12:35AM March 10, 2009

Watch your campaign pledges and understand that the whole thing was set up to punish those who succeed and disagree(with the annointed one). if you are wealthy and agree or are a union executive your good. Or If you happen to be part of the largest swing in the political pendulum that is seeing the party of the people stifle ideologs who disagree with them and even going after tv personalities. Dont think that I agree with all that Bush did. But taxing me more and making my utilities go up while letting me buy my neighbors house isnt fair where Im from and I am going to stop this socio-economic revolution and join the class warfare that is about to erupt.

Soclialist Obama Hussien of VA 11:43PM March 09, 2009