Eight years of the Dow Jones industrial average under George W. Bush

Take a look at the Dow Jones industrial average from Jan. 20, 2001, when George W. Bush took office, through this week.

As blogger Jim White noted on Oxman Gazette, the bottom fell out of the market after 9/11 when the Dow Jones average went below 7500. It bounced back quickly as soon as the U.S. military routed the Taliban in Afghanistan.

But the beginning of the boom, he argues, came in March of 2003, when U.S. troops invaded Iraq. The self-described amateur concludes: The old saying that "war is good for business" might actually be true.

The current decline began last summer when, he reports, "there is a very serious jump in shares traded." He thinks the market is still in a correction that started then, and he suspects "the big boys in the market decided last summer that the candy store was closing" and pulled out their assets. His final word:

I sure hope an Obama administration decides to follow this money and see just where it went. I'm betting on offshore banks.

-- Johanna Neuman

Credit: New York Stock Exchange

Comments

[postliteracy dot org]

The "US routed the Taliban"? Really? Perhaps this is a new definition that actually means, "pushed back, only temporarily forestalling a dismal downward spiral."

[Andrew Zimmerman]

I hate to be a raging conservative, but, why don't you show me a picture I can see the full of.
Also, thanks for your biased remarks, I love editorial liberalism. I see it every day. Propagandist. ;D