Barrack Obama's presidency doesn't seem to be a drag on the stock market. Remember when Rush Limbaugh gave this disastrously wrong prediction two days after Obama won the presidency in 2008.
RUSH: The Obama recession is in full swing, ladies and gentlemen. Stocks are dying, which is a precursor of things to come. This is an Obama recession. Might turn into a depression. He hasn't done anything yet but his ideas are killing the economy. His ideas are killing Wall Street. They need some certainty, and now everybody in the Drive-By, "We don't know who Obama is." We got a story from Jennifer Loven, the Associated Press today: we don't know who Obama is. All of a sudden now on Charlie Rose, they're starting to talk about his ties to Saul Alinsky. I'm not joking at all. It's all coming up on the program. We've also got a Reuters story, here's the headline: "Will Democrats Tinker With Mutual Funds, 401k Plans?" So now they do the story after the election. And they get it right and they tell you what the Democrats plan to do with your 401(k) is, confirming what I told you, a bunch of people did, prior to the election. [Rush Limbaugh 11/6/08]At least during that time he was actually looking at the Dow Jones. It was indeed down several hundred point after the 2008 Presidential Election. I wonder if he's looking at it now.
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