Dow at record high: Conservative Group Floats Impeaching Obama For ‘Wrecking The Stock Market’

[ProSense]

On Day Stock Market Sets New Record, Conservative Group Floats Impeaching Obama For ‘Wrecking The Stock Market’

By Scott Keyes

Today, the Dow Jones Industrial Average closed at 15,056, an all-time record. For one conservative group, this can only mean one thing: it’s time to impeach President Obama.

That was the message Capitol Hill Daily, a conservative publication based out of Baltimore, sent to Citizen United’s listserv today. They accused President Obama of “wreck(ing) the stock market” and asked readers to take a poll about whether he should be impeached as a result.

From the email:

Dear Concerned Reader,

Fearing the very worst, the nation’s super-rich are unloading their stocks at an alarming rate.

Even more troubling, the wealthiest 1% of Americans, who typically know the most, are the ones most anxious to sell.

You see, Obama just allowed 13 new tax increases to further slow the economy, wreck the stock market and make it even harder on the 12 million Americans already looking for work.

The bigger question is this…

Is Obama’s Latest Tax Screw Up Grounds For Impeachment?

See a screenshot below:



When Obama took office on January 20, 2009, the Dow Jones was at 7,949. Over the last 4 years, it has gone up approximately 90 percent before reaching a new high today.

It’s important to remember that the health of the stock market is very different from the health of the overall economy. Middle class wages are stagnating and millions are still unemployed or underemployed.

- more -

http://thinkprogress.org/economy/2013/05/07/1975471/impeach-stock-market/

Members of Congress have the power to change the economic equation, but they're refusing to act.
http://www.democraticunderground.com/10022796943

[elleng]

1. RIGHT!!!

Last Change High Low
.DJIA Dow Jones Industrial Average™ 15056.20 +87.31 / +0.58% 15056.67 14968.89
.TRAN Dow Jones Transportation Average™ 6397.34 +99.36 / +1.58% 6398.16 6297.98
.UTIL Dow Jones Utilities Average™ 526.49 +4.47 / +0.86% 526.49 522.02
COMP NASDAQ Composite Index 3396.626 +3.6572 / +0.11% 3402.242 3381.041
.SPX S&P 500 Index 1625.96 +8.46 / +0.52% 1626.03 1616.64
WFVK.W Dow Jones Wilshire 5000 Compindex Full Cap 17161.23 +88.9004 / +0.52% 17161.23 17060.29
.VOLN New York Stock Exchange Volume 636.23 N/A / N/A 636.23 0.41
NK225-OK Nikkei 225 -Tokyo Stock Exchange Index 14180.24 +486.20 / +3.55% 14196.38 13951.81
UKX-FT FTSE 100 Index 6521.46 +60.75 / +0.94% 6541.69 6451.50
HSI-HK Hang Seng Index 23047.09 +132.00 / +0.58% 23058.74 22855.58

[ProSense]

2. Any day now, they'll be wearing red noses and big shoes. n/t

[burnodo]

3. One thing Republipundits refused to address during the 2012 campaign

They would NOT mention the stock market ever. They just kept repeating that Obama wrecked the economy. The stock market doubled in value under Obama's first term. I remember tuning in to CNBC one day to hear this nut say that the stock market rose over the course of that particular day because Romney was surging in the polls. I just wanted to scream through the cable line "What the frak are you talking about?!?!"

[ProSense]

5. And in the end

"They just kept repeating that Obama wrecked the economy."

...their (and Mitt's) predictions sucked: http://www.democraticunderground.com/10022462260

The lowest jobless rate since 2008
http://www.democraticunderground.com/10022792757

Update: Recovery Measures

by Bill McBride

<...>

At the worst point - in Q2 2009 - real GDP was off 4.7% from the 2007 peak...Real GDP returned to the pre-recession peak in Q4 2011, and has hit new post-recession highs for six consecutive quarters.



<...>

This graph shows real personal income less transfer payments...This measure was off 11.2% at the trough in October 2009...returned to the pre-recession peak in December, but that was due to a one time surge in income as some high income earners accelerated earnings to avoid higher taxes in 2013. Real personal income less transfer payments declined sharply in January, and were 3.3% below the previous peak in March.



<...>

Industrial production was off over 17% at the trough in June 2009, and has been one of the stronger performing sectors during the recovery...industrial production is still 1.3% below the pre-recession peak. This indicator will probably return to the pre-recession peak in 2013.



<...>

Payroll employment is still 1.9% below the pre-recession peak and will probably be back to pre-recession levels in 2014.



http://www.calculatedriskblog.com/2013/05/update-recovery-measures.html

[dballance]

4. When will they ever start admitting the President can't do much at all? It's congress.

I'd love to see their proposed articles of impeachment. Since congress is actually the body that "raised" taxes by not renewing the Bush Tax cuts and not the President they'd have to want to impeach him for signing a bill into law. A bill passed by both houses of congress. Since that's part of his job as defined in the Constitution then I'm at a loss as to what "high crimes and misdemeanors" the President committed.

[lpbk2713]

6. These assclowns are stupid beyond description.

Their avoidance of life in the real world is proof they occupy a separate parallel universe.