the anti-drudge

I remember the day Obama was sworn in, the drudge report headlined with a photo of the latest dow jones industrial average chart, with the line “Cold Start On Wall Street”. This annoys me mostly because it’s not an accurate assessment of the association between politics and wall street. It also annoys me because it attempts to place blame for a serious global recession triggered by a housing and stock bubble on Obama on his first day in office.

So now it’s time for my revenge. Below are two charts, a 3-month and a 2-year view of the Dow. I sort of enjoy pointing out that stocks have started a downward slide almost to the day since the Republicans were elected. As of today, Obama and the Democrats have presided over a 42% increase in the Dow Jones Industrial Average since taking office. Beat that, Republicans. (I sincerely hope they can, but I’m not holding my breath)