14,000, We Hardly Knew Ya

I had to do a double take this morning when I got back from class and saw the DOW at 6,876. Seriously!!! It hasn't been that low, the news tells me, since 1997, and that's probably when it hit that mark to begin with.

Does anyone else remember that wondrous day when the DOW hit 14,000? Ahhh, good times. There was champaign on Wall Street and parties on business shows. I'm pretty sure there was confetti too.

There are none of those things now. People's entire lives have been turned upside down as the market has plummeted. Their retirements are gone, their 401k is more like a 104k, and people who invested everything they had in hopes of making it big now have nothing.

And every time President Obama gets on the television during trading hours, you can watch the DOW fall as he speaks. Try it next time he speaks. This isn't some idea that us republicans have invented, it is a fact. Thank goodness his address to the nation was at 9 PM, or the DOW may have hit 0.

But look back to when this market slide started. It was around last October, when it was pretty certain that Obama would be the next president. On this realization, the markets fell, and haven't stopped. The markets are dead scared of his economic policies, and this continued sell-off shows it.

And it is also because the administration doesn't understand the market. They think that pushing money into government to stabilize it will quell Wall and Broad, but it does the opposite. They don't want the government to come in and bail out companies, CEOs, irresponsible lenders/lendees, or the government itself. They want the government out, taxes down, and not to raise the dividend tax.

I don't think anyone in the Obama administration has taken Econ 101, or else they would see that what they are doing is causing the market crash, not the other way around. The doom and gloom rhetoric of Obama isn't helping either. No one wants to hear that things are horrible and are going to get worse. They want to hear "things are bad, but we are going to fix them."

Maybe a little positivity would go a long way to fix the uncontrolled slide of the markets. Or a few Conservative economic tactics.