Will we call it 'the Obama Rally' when it happens..??
Remember just a few weeks ago when all the critics and mainstream media bloviators, sometimes even before he took office, were decrying the declining stock market performance as the “Obama recession”..?? And recall in their cynical effort to “link” President Obama to stock market performance, whenever he spoke publicly media outlets would place a live stream of market performance in the lower right-hand corner of the screen..?? (like the video clip below)
In any case, for anyone willing to engage in rational thought, you can learn more about President Obama’s recovery plan here. And Sara Robinson of the Campaign for America’s Future (CAF), outlines a compelling 10-point rebuttal in defense of the president’s recovery plan.
Personally, I don’t think we’re out of the woods yet as far as a sustainable economic recovery, but now that the market seems to be regaining its legs by posting a remarkable rally of +22% over the last 5 weeks – barely 12 weeks into Obama’s young presidency – no one seems ready, nor even willing, to call it the Obama recovery despite the fact that during President Obama’s press conference at the close of the London G-20 summit, the Standard & Poor’s 500 Index climbed 2.9 percent to 834.38; and the Dow Jones Industrial Average added 216.48 points, or 2.8 percent, closing at 7,978 after rallying earlier in the day above 8,000 for the first time since last October. So it seems perfectly reasonable using the same rationale as his detractors that Keith Boykin, a CNBC contributor and editor of The Daily Voice, believes the media cynics and hysterics should be held accountable for responsible “journalism” by asking poignantly, “Will The Wall Street Journal Apologize to Obama” if the Markets rally in response to his recovery plans and the other aggressive actions taken by the administration to address the financial crisis..??
And since there seemed all too many – sometimes with gleefully eager prognostications of doom – perched to lay the ruins of our economy at the feet of President Obama, what happens as the economy stabilizes through the remainder of this year, then inevitably begins a long, sustainable recovery. Will we then call it ‘the Obama rally,’ or will we find some other reason, not to..??
Only time will tell, but these certainly are fair questions to ask in holding accountable his early detractors. . .
