Stock Market Revival Under Barack Obama: Wonderful, But Not Time To Declare Victory!

Three years into the Obama Presidency, and the great news is that the stock market has seen a tremendous revival under his watch.

Yesterday, the stock market reached a level unseen since before the economic collapse of 2008 and the Great Recession, as the Dow Jones reached its highest level in four years, and the Nasdaq reached its highest level in eleven years.

With a 5,000 point gain since the Obama inauguration, there is a temptation to think that the economic decline is over, but that would be unwise to believe. There is still too much unemployment, and too many people who are underemployed, so it is not a time to declare victory in any shape or fashion. 8.3 percent unemployment is the lowest in three years, but not good enough to rest on one’s laurels.

However, if Obama can bring about or have the fortune that at least 150,000 jobs are created every month from now on, with last month bringing 250,000 growth in jobs, then the unemployment rate will go below 8 percent, and the odds of Obama winning a second term will be greatly enhanced.

The point is that Mitt Romney and other Republicans will have less of an issue to use against Obama if that growth occurs, and already, one can see that Romney is having problems being coherent in his reaction to the job and stock market gains.

The long range issues of foreign policy and defense and national security, and the significance of the federal courts and the Supreme Court, will, hopefully, start to come to the forefront, as in the long run, these are the more important issues for the future of the nation.

2 comments on “Stock Market Revival Under Barack Obama: Wonderful, But Not Time To Declare Victory!

  1. Engineer Of Knowledge February 4, 2012 11:59 am

    Hello Professor,
    I should pass on that I am a Moderate Republican with a family legacy within the Republican Party for over 150 years. Yes since the time of Lincoln and when West Virginia seceded from Virginia in the Civil War.

    I just had lunch with some of my Republican friends yesterday and they were really down in the dumps because of the good unemployment numbers report that came out.

    “I guess this is going to mean another four years of Obama.”

    I did not say anything because they are really good friends. I just sat there with a hidden smile on my face and with the thought of “Finally we are headed in the right financial direction as a nation. I just hope we keep it up towards election time and then beyond.”

    Now I know that they will vote for Romney out of blind faith to the Republican Party in November, and I could only wonder how many more will vote in lock step only to once again harm their Middle Class status. The other concern I have is that the vote will be so close; the election will be able to be stolen with just a few votes removed, flipped, and added by the Republican Party within states like Ohio, Florida, Wisconsin, Indiana, etc.

    It will only take one state to pull this off.

  2. Paul Doyle February 4, 2012 2:23 pm

    The economy is definitely on the upswing, but still very tentative. The Europeon economic situation could still be the Achilles heel. I was just cleaning out some old news clippings and ran across a business page clipping. The Dow was at 12,756 on April 5th last year. Optimism ruled and then….
    It’s still a long way until November. What is optimistic is that the unemployment rate has gone down in consecutive months and there are movements in sectors other than retail.

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