Why business has done so well under Obama?

[kentuck]

The Repubs like to say that businesses are not creating jobs because of the "uncertainty". But if we look closely, business should be thanking President Obama.

Most are making record profits without hiring new people. Many have bought other companies with their assets. But most have made money on Wall Street. They have invested their profits on Wall Street, rather than in the workers on Main St.

Fortunately, since the market had gone down to about 6500, it has rebounded spectacularly. It is now about 11,000. That's almost a 70% increase in the market!

And that is how business has not only survived but thrived, even in a bad economy and even without hiring new people. Look at their bottom lines. And look at their investments.

What if Barack Obama and his Administration had not initiated policies to help Wall Street? Where would these businesses be today? Certainly, their bottom line would not look as healthy.

[Blue_Tires]

1. that part amuses me as well...

When the Dow was 7000, doomsday was all the news ever talked about, day in and day out for a month...

There was a little coverage when it got back above 10,000 and hardly a peep as it crosses 11,000 (quite the contrary, people are still talking about how horrible the economy is)...

And as I predicted way back when, Wall Street wouldn't have the decency to thank the American people or even admit to the fact that the blank check they got from "evul big gummitt" kept their lights on and their country club dues paid...AND as predicted, the WSJ and Wall Street would rachet up the "socialist, anti-market, etc" attacks while pouring hundreds of millions into teabag campaigns...

At the least, I hope that this permanently kills the myth that the economy's health is tied to the DJIA...