"Stocks Rally Worldwide, Dow Hits One-Month High on Obama Plan"Do you remember the day after the election when some of the whiny wingnut losers were whining that we were in an "Obama Recession"? You know, the recession that actually started six months before Obama was even nominated?
Dec. 8 (Bloomberg) -- Stocks rose around the world, sending the Dow Jones Industrial Average to a one-month high, as President-elect Barack Obama pledged to boost the economy with the biggest public-works spending package since the 1950s.
The Standard & Poor’s 500 Index extended its gain from an 11-year low last month to 21 percent. U.S. Steel Corp. and Alcoa Inc. climbed at least 17 percent, while Chevron Corp. added 4.9 percent, as Obama’s plan to improve infrastructure triggered gains in commodities. General Motors Corp. jumped 21 percent as lawmakers agreed in principle with the White House to provide funds to shore up the car industry.
... Obama said Dec. 6 he will boost investment in roads, bridges and public buildings to create or preserve 2.5 million jobs after companies cut payrolls at the fastest pace in 34 years last month.
“There’s an awareness now that this is across the board,” Laszlo Birinyi, president of Birinyi Associates Inc. in Westport, Connecticut, told Bloomberg Television. “A Band-Aid here and a Band-Aid there is not going to form a solution. You’ve got to really take some dramatic action, and I think that’s what investors are responding to today.”
The Dow closed at 7,552 on November 20 -- the day before Barack Obama introduced Tim Geithner and some others from his economic team. It closed yesterday at 8,934.
I don't know but from that headline from Bloomberg and a couple of the quotes from the article you get the idea that Obama might actually be helping the market out.
Haven't heard anything from Limbaugh on Obama's recession lately either, have you?
