VTI, the Vanguard Total Stock Market Index, is UP since January 20. This index meansures the performance of all 5000+ stocks traded in U.S. markets.
While the Dow is down, the Dow consists of only 30 stocks.
I ask this question because many Obama haters have blamed the market’s performance on Obama without realizing that the truest measures of market performance show that the market is up.
I don’t actually believe Obama’s policies make the market move in the short term. But I would like conservatives who blame Obama for the market to explain these results.
Scott White’s Pappy–
I may not be a genius, but you don’t have to be a genius to recognize that this question was specifically NOT about the Don Jones Industrial Average. It is about OTHER broader measures of stock market performance.
Homeless in Phoenix—
You consider the NASDAQ to be an "obscure" index of market performance? That’s a laugh.
Keith 5:06 pm on August 29, 2010
Rush said Obama would destroy our nation. He is doing exactly that by making the stock market rise. A higher stock market will cripple our country beyond belief. That’s how Clinton destroyed the economy during the 90’s. He made market rise and plunged us into a severe depression. Only Bush saved us by erasing millions of jobs and creating a HUGE defecit.
firewomen 5:06 pm on August 29, 2010
They will try and give Bush credit like I heard Cheney trying to do not so long ago.*
Desk3Bound 5:06 pm on August 29, 2010
Because all of Bush’s efforts are coming to fruition?
Anna P 5:06 pm on August 29, 2010
No informed person gauges the economy on one measure. Yes, the Dow is important because it is all big companies, but the other equity markets are also important. Also, consumer confidence, supplier orders (a strong leading indicator), and other factors (about 25-30 in all). It is NOT all politics, although political factors play a factor, one of many.
ADD: It’s not just the S&P or the Russell 2000 (smaller companies). It’s also the relationship of all the equity markets to each other (how they are moving). There are modeling programs that show minute by minute analysis of these various indicators. Same with the consumer confidence index produced by the Conference Board (more accurate for 6 mos out) and the U of Michigan (today’s confidence). All these are market makers.
DAR 5:06 pm on August 29, 2010
Because the dollar is down.
Track P 5:06 pm on August 29, 2010
*** I don’t actually believe Obama’s policies
*** make the market move in the short term.
Correct. In the middle term though they do. In the middle term (1-2 years) Obama will drive the economy into the ground.
How do I know? Simple. I resigned from my job and many good engineers and scientists and doctors did the same. No point to work hard and to risk my money for nothing. Just ask AIG tradres who now owe 110% tax (fedral + NY state tax + local).
And who are still working? Bus boys, government bureaucrats, and affirmative action specialists. In the middle term this Obamanomics means economic collapse. Simple as this.
Spud 5:06 pm on August 29, 2010
It’s up because of Bush’s policies and Reagan’s tax cuts and deficit spending policies. All that stuff takes time and when things actually start to improve to any degree it is the result of Republican policies.How audacious of Democrats to try and take credit.
heathersonline 5:06 pm on August 29, 2010
Obama is nothing but "wallstreet finance capital"
"they" think of him as an object
C?
U need 2 C (see) this!:
http://video.google.com/videosearch?q=obama+deception&emb=0&aq=1&oq=obama+de#
Eh M-Fer–yo, homeless in phoenix has a puter(as jn cum puter)
ScottWhite'sPappy 5:06 pm on August 29, 2010
Look at this chart genius. First drop early 2007 when Dems take control of congress. Next big drop Obammy drops the Dow to under 7000.
http://www.the-privateer.com/chart/dow-long.html
Homeless in Phoenix 5:06 pm on August 29, 2010
How long did you have to look to find an obscure index that shows the market is up. A loooong time I’m sure!
snowball45830 5:06 pm on August 29, 2010
Last month most democrats where blaming Bush and said Obama wasn’t responsible for 6 months. So I guess Bush gets credit for the upswing.
Critical_rationalist 5:06 pm on August 29, 2010
I thought this was still Bush’s economy
Pfo 5:06 pm on August 29, 2010
"I don’t actually believe Obama’s policies make the market move in the short term. But I would like conservatives who blame Obama for the market to explain these results."
Good for you, the best reason for the recent gains that I can find is the fact that Citigroup posted a profit and investors hit wall street. This created momentum, especially as more good news came in, leaving us with what we see today. So the market is doing better because the free market is working like it should. Recessions are normal in free market systems, as is their corrections.
I’m not going to blame Obama for anything the market does, good or bad, without having a factual reason to connect the circumstances. I realize it may take time, months possibly years, to be able to understand how a policy or change affected the market. From what I saw, it appeared that some initial declines of the market since Obama took office were related to his administration discussing the state of the economy or their plans to fix it. For that reason, I find it logical to attribute some of the bad market performance to Obama. It appears he has since let off on being gloomy, and we see things improve some.