This chart from dshort.com compares the S&P 500 and NASDAQ (from the top of the Tech Bubble burst in March 2000 to present day) to the Dow of the Great Depression and the Nikkei 225 of the 1980s Savings and Loan Crisis - all adjusted for inflation, of course.
There are two very simple points you need to take from this chart. The first is that anyone who claims President George W. Bush didn't inherit a recession in 2001 is just empirically incorrect.
The second point is that, if these market trends aren't just a miraculous coincidence... this recession isn't even close to being over yet. In fact, if the markets continue to trend parallel to the Great Depression's Dow and the Saving and Loan Crisis' Nikkei 225, 2009 may be the best economic year Obama sees for the rest of his stay in the White House.
However, Barry is a shrewd politician. That's why he back-loaded his "stimulus" spending such that only 3% of it has been spent, despite the panicked frenzy with which congressional democrats forced the passage of the "stimulus" bill without having read it. The vast majority of Obama's generational theft expenditures will be divvied out at about the time he will begin his bid for reelection.
I would expect nothing less ego-centric from a politician who, as a legislator, wrote more memoirs than national laws.
If you combine the frightening market trends illustrated by dshort.com with the unprecedented damage the US dollar has taken, the prognosis doesn't look good. But hey... this was "the change we needed," right?
Can we destroy the economy of the most wealthy country in the world?
"Yes we can!"
William F. Buckley, Jr. pointed out the paradoxical stupidity of this (inherently socialist) spending:
"Back in the thirties we were told we must collectivize the nation because the people were so poor. Now we are told we must collectivize the nation because the people are so rich."This isn't a game. I don't know when politics stopped being serious and started substituting for late-night entertainment, but play time is over.-William F. Buckley, Jr.
If something or someone doesn't force the federal government to change course, the damage this economy has suffered to-date is going to look like a bicycle accident compared to the train wreck bearing down on us.