OOPS: Financial Pundits Predicted The Stock Market Would Plunge Under Obama
By Aviva Shen
The Dow Jones reached an all-time high of 14,200 today, besting the pre-financial crisis record set in 2007. The robust gains may surprise many Wall Street analysts and cable news prognosticators who, just a few months ago, were raising the alarm that an Obama reelection would send the market into a tailspin.
During election season, experts warned that Obama’s intent to raise the capital gains, dividend and corporate taxes would hurt investments, while Mitt Romney’s business-friendly attitude would lead to a first day rally. It soon became “conventional wisdom” in the financial sector that the stock market would favor a Romney win, while an Obama second term would be disastrous...a chief economist at Gluskin Sheff praised Romney on CNBC as “a candidate that could more readily come to a compromise with the opposition” over the fiscal cliff deal, and would be “overall better” for the markets:
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Fox Business seized on market gains the day after Romney’s first debate performance as evidence that the stock market was rooting for a Romney win. After Election Day, the network lamented that Obama’s win caused a market dip, which was actually a reaction to bad economic news from Europe and the impending fiscal cliff fight in still-gridlocked Congress:
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CNBC market analysts also stoked the panic, hosting a Barclay’s Capital manager who suggested Obama’s reelection would spark a recession like the one in 1948:
- more -
http://thinkprogress.org/economy/2013/03/05/1674271/business-experts-stocks-obama/
Mitt's predictions sucked.
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= new reply since forum marked as read
You should ask your neighbor if he's celebrating today! 
And now what TODAY!? stocks are at an ALL TIME HIGH!?!?! 
This crap being peddled by the M$M is getting old...if we are in such a HUGE financial crisis, how is Wall Street doing better then ever?
The GOP are the doomsayers of the middle ages. Clueless, crass and creepy.
I voted for President Obama and I am glad that he won, however it seems that we are given the "choice" of whatever we perceive as the lesser of two evils. I think we should be more interested in our (not "their"
future, and party before people doesn't seem to make as much difference as it once did...
I remember that wall street had record highs in 2007, shortly before the too big to fail banks admitted some of their frauds and the market crashed. I hope that is not what is happening again. It definitely would not be from increased taxes on the wealthy or from financial windfall taxes which candidate Obama ran on. IMO, it would stem from the still under-regulation of these banks and corporations, the terrible wealth inequality in America along with the under-taxation of the wealthy. These were the main causes of the "great depression" (in which we did not bail the wealthy out and instead, made them suffer with the "peasants." At least by doing so, it became obvious that tight regulations are required along with the cleansing effect it had on the top few percent.
IMO, we have been in another depression in which the elite were salvaged and only the bottom 80% have had to suffer while the rich get much richer.
I am not hoping for another market crash, only that real regulations and progressive taxes are, once again, levied on the elite. That would help prevent future market crashes and help to distribute the wealth more evenly.
It might also force "regular americans" to actively protest against unfair free trade agreements until they are replaced with fair trade agreements.
Most Americans are barely surviving despite the huge market rally. It just means more wealth for those who really do not need (and in most cases) do not deserve it.
