Thank you, President Obama
The economy seems to be showing signs of recovery and that is good news for Americans and to no lesser degree, the world also. The stock market has been enjoying a surge over the past couple of months and although unemployment continues to grow, it is historically a lagging indicator of where the economy is going. Nevertheless, there are still some economists that believe the worst is yet to come, but no one can deny that there are definite signs that things are starting to turn around.
The reasons behind this apparent resurgence in the stock market are complex and manifold, made all the more complicated by the fact that free economies are cyclical, rising and falling over time regardless of how hard we try to manipulate it. However, I think we have to be fair here and give at least partial credit where partial credit is due.
I believe one of the major factors behind this ostensible recovery in the stock market is President Obama and his policies. History has shown that presidents can have a profound effect on the stock market, both positive and negative. And we all should to give a big thanks to President Obama for all he has done to help our economy get back on track.
At this point many of you may be asking: what exactly has he done? Well, he has done quite a lot. By pushing an unpopular agenda and allowing the Congress to lurch to the extreme left, unchecked and unchallenged, his poll numbers have plunged. In a mere six months he has gone from the darling of America to one of the most--if not the most--polarizing presidents in the history of the US. His popularity drops every day while his negatives continue to rise. All this comes as bad news to the president, but according to this news article, history has clearly shown that plunging approval numbers for a president can equal surging stock markets for the country.
STOCKS RALLY WHEN PREZ RATINGS DIVE
AS if the announcement this week that actor Josh Brolin will play an evil short seller in the sequel to the movie "Wall Street" wasn't enough of a contrarian signal to go long on stocks, what about this?
History shows that when the approval rating for a US president dips below the magical 50 percent mark, it is also typically the time to buy.
Let the Obama rally begin!
Of course, the rally began back in March when the president's poll numbers had virtually nowhere to go but down. Now, with a summer of discontent over health care reform and the state of the economy, President Barack Obama' s approval ratings are plunging fast -- in the low 50s in most polls -- and stock prices are surging.
This comes as no surprise to market historians who know that poor presidential approval ratings make for strong stock- market profits.
So, join me in thanking President Obama for his role in this economic recovery. Thanks to his mistakes and plunging poll numbers, we might all enjoy a robust economy again sooner than we think.
Keep it up, Mr. President! You're doing a lousy job and gosh darn it, that might be just what this economy needs!